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Europe Daily Bulletin No. 12575

7 October 2020
Contents Publication in full By article 7 / 36
ECONOMY - FINANCE - BUSINESS / Finance
Agreement in sight in Council on replacement of critical benchmarks that are being discontinued
Brussels, 06/10/2020 (Agence Europe)

Member States’ ambassadors to the EU are expected to give their green light on Wednesday 7 October to the Council’s negotiating mandate on the proposal to amend EU rules to give the EU new powers to designate, where necessary, a replacement index for a widely used financial benchmark that is being discontinued in order to avoid disruption to financial markets (see EUROPE B12535A14).

In the immediate term, the aim is to prepare, from the end of 2021, for the disappearance of LIBOR...

Contents

EU RESPONSE TO COVID-19
ECONOMY: political agreement within reach in EU Council on Recovery and Resilience Facility
HOME AFFAIRS: work continues in Council on coordination of national measures against Covid-19
STATE AID: green light for €1.5 billion in aid to companies in Southern Italy in context of Covid-19
HEALTH: EMA starts rolling review of candidate vaccine from BioNTech and Pfizer
ECONOMY - FINANCE - BUSINESS
FINANCE: several Member States consider that Commission’s proposals on crypto-assets do not go far enough
FINANCE: European Commission encouraged by first ministerial discussion over Action Plan and Capital Markets Union
FINANCE: agreement in sight in Council on replacement of critical benchmarks that are being discontinued
TAXATION: removal of Cayman Islands from European ‘black’ list of uncooperative jurisdictions causes anger
COMPETITION: Commission clears acquisition of Central European Media Enterprises by PPF Group NV
EXTERNAL ACTION
WESTERN BALKANS: European Commission presents its €9 billion global economic and investment plan
WESTERN BALKANS: European Commission calls on region’s countries to continue their efforts to move closer to EU
TURKEY: Commission takes a negative view of situation in country
COURT OF JUSTICE OF THE EU
JUSTICE: public security, Court of Justice of EU clarifies limits of mass surveillance
HUNGARY: Court confirms that Hungarian conditions imposed on Central European University to continue its activities were unjustified
EUROPEAN PARLIAMENT PLENARY
CLIMATE: ‘Climate Law’ 2030 emissions reduction target continues to crystallise tensions within European Parliament
MERCOSUR: small majority of MEPs reject ratification of EU/Mercosur agreement as it stands
BUDGET: MEPs consider German Presidency of EU Council’s proposal on link with Rule of law unsatisfactory
EMPLOYMENT: Nicolas Schmit expresses his doubts about possibility of forcing paid internships
WOMEN: MEPs call on EU Council to unblock negotiations on gender equality for boards of directors
SECTORAL POLICIES
CLIMATE: ‘Climate Law’, EU27 could again discuss 2030 emissions reduction target in December
ENVIRONMENT: EU risks missing plastic packaging recycling targets, warns European Court of Auditors
AGRICULTURE: EU Member States are still divided on ‘green architecture’ of post-2020 CAP
AGRICULTURE: European Commission says impact of Covid-19 crisis on agricultural markets has remained “limited”
RESEARCH: interinstitutional negotiations on Horizon Europe framework programme get off to a good start
JUSTICE: temporary derogation to combat child pornography discussed in EU Council
CIVIL PROTECTION: European Court of Auditors calls for justification for increased resources for EU rapid reaction in 2021-2027 budget
INSTITUTIONAL
FUTURE OF EU: Strasbourg strategy to defend seat of European Parliament
COUNCIL OF EUROPE
ENVIRONMENT: Council of Europe is considering possibility of including right to healthy environment in European Convention on Human Rights
NEWS BRIEFS
EUROPEAN COMMISSION: European Parliament gives green light to nominations of Mairead McGuinness and Valdis Dombrovskis
FINANCE: German Presidency aims for agreement in October EU Council over measures to stimulate economy through capital markets
IMF: Sweden’s Magdalena Andersson, EU candidate for IMFC chairperson
PUBLIC PROCUREMENT: construction sector calls for better implementation of EU law
MEDIA: European Parliament launches Daphne Caruana Galizia Prize for Investigative Journalism
SOCIAL: one in three European workers working under pressure in 2019, according to Eurostat
TRANSPORT: EU ministers convened for an informal videoconference meeting on 8 October
TRANSPORT: EU Council adopts regulation on temporary support measures for railway sector