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Europe Daily Bulletin No. 12514

26 June 2020
Contents Publication in full By article 5 / 37
EU RESPONSE TO COVID-19 / Finance
Commission considers amendments to rules on prospectuses, securitisation and MiFID II framework to facilitate economic recovery
Brussels, 25/06/2020 (Agence Europe)

The Executive Vice-President of the European Commission, Valdis Dombrovskis, gave some details on Thursday 25 June on the package of targeted financial regulatory changes to facilitate economic recovery from the Covid-19 crisis, expected to be released on 22 July(see EUROPE B12509A24).

“This crisis means that many companies will see their debts soar. To stay solvent, they will need to restore sustainable debt-to-equity ratios. The obvious way for them to do this is to raise equity capital...

Contents

ECONOMY - FINANCE
EUROGROUP: three Finance Ministers declare themselves candidates to succeed Mário Centeno
FINANCE: Commission departments are working on a first draft of new Capital Markets Union action plan
BUDGET: MEPs approve €585 million in aid for 2020 to support Syrian refugees
EU RESPONSE TO COVID-19
BUDGET: “It is in all of our interests to reach a swift agreement on MFF”, says Commissioner Hahn
FINANCE: Commission considers amendments to rules on prospectuses, securitisation and MiFID II framework to facilitate economic recovery
STATE AID: Commission approves €6 billion German measure to recapitalise Lufthansa
INTERNAL MARKET: EU Council postpones vote on environmental standards report on non-road mobile machinery
HEALTH: European Medicines Agency recommends conditional marketing authorisation for remdesivir
SECTORAL POLICIES
SPACE: ESA begins work to prepare for November ‘Space’ Council
FISHERIES: MEPs negotiate compromise on Control Regulation update
FOOD: European Parliament’s Environment Committee in favour of mandatory simplified nutrition labelling, but divided on modalities
ENVIRONMENT: implementation of 'Marine Strategy' Directive leaves much to be desired, especially in Mediterranean, says Commission
JUSTICE: Council of Bars and Law Societies of Europe is concerned about the very disparate reactivation of judicial systems in EU
CLIMATE: EU confirms participation in voluntary phase of CORSIA and chooses 2021, 2022 and 2023 to calculate offset requirements
CLIMATE: international climate targets in maritime and aviation sectors are “seriously lacking”, according to Climate Action Tracker
ENERGY: European gas industry calls on EU not to neglect hydrogen produced from natural gas
MIGRATION: asylum applications in EU rise again in 2019
FUNDAMENTAL RIGHTS: 64 MEPs call on Romanian president to oppose bill prohibiting discussion of gender identity in schools
TRANSPORT: aviation sector commits to “speeding up work to decarbonise European civil aviation”
SECURITY - DEFENCE
DEFENCE: Mr Breton will “continue to fight” to increase European Defence Fund's allocation
EXTERNAL ACTION
SUDAN: EU and international community strengthen their political and financial support for transition to a democratic Sudan
TURKEY: it is necessary to re-establish a minimum of trust and dialogue, says Mr Borrell
VENEZUELA: International Contact Group calls for meaningful, inclusive negotiations
UNITED STATES: Airbus dispute, Washington prepares new tariff sanctions
UNITED STATES: Washington agrees to transatlantic dialogue on China
COURT OF JUSTICE OF THE EU
INSTITUTIONAL: European Parliament can exercise part of its budgetary powers in Brussels instead of in Strasbourg, says Court of Justice of EU for a second time
HUNGARY: Advocate-General of Court of Justice of EU challenges large parts of Hungarian asylum and return legislation
ASYLUM: European law authorises large number of judicial authorities to be competent to receive an asylum application
ENVIRONMENT: an order and a circular regulating issuance of permits for installation of wind turbines must be subject to a prior environmental assessment, according to Court
SOCIAL: according to European judge, worker who is illegally dismissed and then reinstated is entitled to paid leave or compensation for leave not taken
NEWS BRIEFS
BANKS: Werner Hoyer named 'European Banker of the Year 2019' by The Group of 20+1
DEVELOPMENT: Paris Club signs debt service moratorium agreement with Republic of Guinea
ENERGY: EU Council adopts conclusions on EU response to Covid-19 pandemic in energy sector
NEAR EAST: President of Parliamentary Assembly of Council of Europe denounces Israel's annexation of Palestinian lands
HEALTH: Pompidou Group launches an online platform to limit spread of Covid-19 among drug addicts
YEMEN: EU condemns attacks against civilians in Saudi Arabia and Yemen
CORRIGENDUM
TAXATION: Corrigendum to alcohol excise duty article