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Image header Agence Europe
Europe Daily Bulletin No. 13684
Contents Publication in full By article 26 / 40
ECONOMY - FINANCE - BUSINESS / Banks

BBVA’s takeover of Banco Sabadell - European Commission opens infringement proceedings against Spain

In a letter of formal notice sent to Madrid on Thursday 17 July, the European Commission found that Spain had breached banking prudential rules and the principles of free movement of capital and freedom of establishment in connection with BBVA’s €13 billion takeover of Banco Sabadell.

The Spanish legislation gives the Spanish government “unfettered powers to intervene in bank mergers and acquisitions”, which encroach on the competences of the ECB and national supervisors, said...

Contents

Time off: Belgian National Day
MULTIANNUAL FINANCIAL FRAMEWORK 2028-2034
BUDGET: amounts, own resources, recourse to debt mechanisms and governance... Member States divided on post-2027 MFF
COMPETITIVENESS: EU industry ministers warn European Competitiveness Fund not able to solve everything on its own
AGRICULTURE : numerous EU Member States protest against proposed reduction in 2028-2034 budget allocated to CAP
FISHERIES: EU fisheries sector alarmed by proposed low ‘ring-fenced allocation’ of €2 billion for 2028-2034
EDUCATION: 2028–2034 MFF—European University Association welcomes proposal to maintain Erasmus+ as stand-alone programme
Russian invasion of Ukraine
RUSSIA: EU adopts its 18th package of sanctions against Russia
EXTERNAL ACTION
RUSSIA: EU and NATO denounce Russia’s hybrid activities
UNITED STATES: still no white smoke between EU and Washington over tariffs
CHINA: a “good exchange” on issues of concern to EU is only “outcome” expected from bilateral summit in Beijing
JAPAN: EU and Japan to adopt joint declaration in favour of strengthening cooperation on economic and security fronts
ICELAND: EU and Reykjavik launch discussions on a security and defence partnership
TRADE: European Commission consults on future safeguards for steel
INSTITUTIONAL
MULTILINGUALISM: Spanish regional languages - number of issues need to be resolved before official EU language status can be granted, says Marie Bjerre
FUTURE OF EU: lack of unanimity in EU Council prevents any revision of European Treaties, notes Marie Bjerre
CYPRUS: Antonio Guterres describes discussions between Mr Christodoulides and Mr Tatar as constructive
SECTORAL POLICIES
HOME AFFAIRS/MIGRATION: ending informal work, revising access to basic assistance, sanctions - Copenhagen wants to convince irregular migrants to return voluntarily
ENERGY: Presidency of EU Council clarifies derogation granted to landlocked countries regarding phase-out of Russian gas
INDUSTRY: “Alliance for Energy-Intensive Industries” calls for action to preserve strategic traditional sectors
COMPETITIVENESS: European Investment Bank sets up platform to accelerate innovation in green technologies
CONSUMERS: European Commission publishes results of its first product surveillance test under new regulation
DIGITAL: European Commission publishes guidelines for suppliers of general AI models
CIVIL PROTECTION: in Greece, Hadja Lahbib praises joint efforts of EU Member States in fight against fires
JUSTICE: Eurojust wants to adapt joint investigation team practices to make them more effective in fight against cybercrime
ECONOMY - FINANCE - BUSINESS
TAXATION: EU Council formally adopts new rules on value added tax on imports
BANKS: BBVA’s takeover of Banco Sabadell - European Commission opens infringement proceedings against Spain
SOCIAL AFFAIRS
HEALTH: European Commission proposes sixth revision of Carcinogens, Mutagens and Reprotoxic Substances Directive
FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
WOMEN’S RIGHTS: European Institute for Gender Equality calls for common legal definition of femicide within EU
NEWS BRIEFS
HOME AFFAIRS: EU Council definitively approves new regulation enabling gradual deployment of EU’s ‘Entry/Exit’ system
AGRICULTURE : European Commission approves new geographical indication for Hungary
ALGERIA: EU calls for arbitration panel within framework of trade agreement with Algiers
INSURANCE: European Commission launches consultation on revision of ‘Solvency II’ delegated regulation
BANKS: a European Banking Authority handbook for simulating bank resolutions
ENERGY: European ministers approve extension and revision of gas storage regulation
ENERGY: Dan Jørgensen in Athens to celebrate 20 years of Energy Community
GULF: European Commission and High Representative welcome adoption of mandate to launch negotiations with GCC countries
INDUSTRY: ‘omnibus’ - EU Council approves postponement of certain obligations under ‘batteries’ regulation
REGIONS: Régions de France critical of proposals on 2028-2034 Multiannual Financial Framework
SUDAN: EU sanctions two entities and two individuals for their ties to armed groups
Op-Ed
OP-ED: The Eurogroup must be dissolved - By Jonás Fernández