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Europe Daily Bulletin No. 12346

11 October 2019
Contents Publication in full By article 6 / 28
ECONOMY - FINANCE - BUSINESS / State aid
European Commission approves Greek asset protection scheme ‘Hercules’ for banks
Brussels, 10/10/2019 (Agence Europe)

On Thursday 10 October, the European Commission found that Greece's plans aimed at supporting the reduction of non-performing loans of Greek banks to be free of any State Aid.

Under the asset protection scheme (‘Hercules’), the Greek State will be remunerated in line with market conditions for the risk it will assume by granting a guarantee on securitised non-performing loans. If a Member State intervenes, as a private investor would do, and is remunerated for the risk assumed in a way a...

Contents

COMMISSIONERS-DESIGNATE HEARINGS IN EUROPEAN PARLIAMENT
INTERNAL MARKET: dropped by EPP and part of S&D, Sylvie Goulard has been rejected by European Parliament
ECONOMY - FINANCE - BUSINESS
EMU: progress has been made in preparation of euro area budget, but its financing has not been finalised
MONEY LAUNDERING: Member States recognise need for reforms, but not all at same speed
TAXATION: European blacklist now includes only nine non-cooperative jurisdictions
ECONOMY: Member States recognise need to streamline European financial architecture for development
STATE AID: European Commission approves Greek asset protection scheme ‘Hercules’ for banks
EXTERNAL ACTION
ENLARGEMENT: despite division amongst Member States, Mr Hahn insists on opening negotiations with North Macedonia and Albania
SYRIA: Europeans urge Turkey to stop its offensive
TRADE: provisional anti-dumping duties will be applied on imports of Chinese steel road wheels
EUROPEAN PARLIAMENT PLENARY
BUDGET: MEPs call for 'an emergency plan' in case of late agreement on 2021-2027 financial framework
TRADE: American sanctions against Airbus will undoubtedly shake European unity
EIB: “The EIB is ready to go greener”, says Werner Hoyer to MEPs
ENVIRONMENT: pesticides, European Parliament says no to keeping about 60 active substances on market
GMO: European Parliament opposes authorisation to import 2 glyphosate/glufosinate resistant maize and one transgenic soybean
JUSTICE: European Parliament gives green light to a cooperation agreement between Eurojust and Serbia
DEMOCRACY: Parliament adopts a resolution aimed at combating foreign interference and disinformation
BREACHES OF EU LAW
RULE OF LAW: Commission refers Warsaw to Court of Justice to make it backtrack on its disciplinary regime for judges
TAXATION: Commission's action against Budapest for application of insufficient excise duties on cigarettes
HUNGARY: Budapest has 1 month to justify to Commission its practice of depriving some migrants of food
SECTORAL POLICIES
AGRICULTURE: post-2020 CAP, agricultural markets and forests to be debated in EU Council on Monday, 14 October
FISHERIES: EU Council is preparing to drastically reduce 2020 quotas for cod and herring in Baltic
ENVIRONMENT: climate protection requires investment in wastewater treatment, according to EEA
COURT OF JUSTICE OF THE EU
ENVIRONMENT: derogations from wolf hunting in Finland must be strictly regulated, according to Court
INSTITUTIONAL
UNITED KINGDOM: According to Leo Varadkar and Boris Johnson, basis for deal on orderly exit can be found by 31 October
NEWS BRIEFS
UNITED STATES: exports of strontium chromate from Austria and France will soon be hit with anti-dumping duties
FINANCE: European Commission launches new high-level forum on capital markets union
JUSTICE: European Commission consults on protection of environment through criminal law
MOZAMBIQUE: EU increases humanitarian aid for cyclone victims by 10 million euros