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Europe Daily Bulletin No. 7814
Contents Publication in full By article 9 / 54
GENERAL NEWS / (eu) eu/euro

ECB raises interest rates by a quarter of a percent to 4.75% to tackle the rise in oil prices and weakness of exchange rate

Frankfurt, 05/10/2000 (Agence Europe) - The European Central Bank has decided to increase its leading interest rate by 0.25%, taking it to 4.75%. "The decision taken today aims to ensure that the upward pressure that oil prices and the euro's exchange rate are exercising on the price of consumption does not take the form of a durable inflationary tendency", commented ECB President Wim Duisenberg at a press conference.

The Governing Council of the European Central Bank took three decisions,...

Contents

THE DAY IN POLITICS
(EU) EP/ARMS EXPORTS: Parliament calls for "code of conduct" to become binding and that candidate countries conform - Mr Patten draws attention to problem of small and light arms
(EU) EU/MEDITERRANEAN: European Commission considers dramatic events in Middle East should not compromise the Euro-Mediterranean ministerial meeting in November
(EU) EU/SERBIA: EU denounces cancellation of elections in Serbia
(EU) EU/EP/TURKEY: Turkish ambassador to the EU criticises European Parliament's resolution on membership talks with Cyprus
(EU) EU/MIDDLE EAST: EU supports creation of international committee
(EU) EU/SRI LANKA: EU condemns suicide attack killing 19 people just days before elections
(EU) EP/INSTITUTIONAL REFORM: Andrew Duff warns Tony Blair against drift towards intergovernmentalism and against second House in Parliament
GENERAL NEWS
(EU) EU/ENLARGEMENT: Chapters closed with Hungary and Estonia (and technical progress with other applicant countries) at first membership negotiating meeting under French Presidency
(EU) EU/EURO: ECB raises interest rates by a quarter of a percent to 4.75% to tackle the rise in oil prices and weakness of exchange rate
(EU) EU/MEXICO: Priority of new Mexican government will be to "give life" to free trade and cooperation agreement, announces elected President Vicente Fox during visit to Brussels
(EU) EU/BANANAS:
(EU) EU/COURT OF JUSTICE: Directive prohibiting tobacco advertising and sponsorship is annulled - Court considers that the total ban does not come within rules governing the internal market, but leaves door open for partial bans
(EU) EU/COURT OF JUSTICE: Directive on adjustment of working hours applies to health care doctors
(EU) EP/ACCESS TO DOCUMENTS: Solana agrees to initiate dialogue with Parliament on access to documents
(EU) EU/POSTAL SERVICES: Council maintains aim of reaching, in December, an agreement on continuation of liberalisation of postal service, despite divergences between Member States
(EU) EU/INFORMATION SOCIETY: Commission grants EUR 80 million to GEANT project (scientific research network working through the Internet)
(EU) EP/RESEARCH: Busquin's communication on future of European research causes many questions to be raised by MEPs
(EU) EP/EDUCATION: EP hopes to strengthen in first reading the recommendation on student and teacher mobility, but Commission states it cannot mobilise necessary human resources
(EU) EP/FOOD: Parliament wants rigorous standards, controls and labelling for animal feed - Commission accepts most amendments to its proposals
(EU) EP/SEX TOURISM: Commission indicates that it cannot finance small specific projects
(EU) EU/BUDGETS: European Commission implements decision not to accept tasks for which I does not have necessary personnel
(EU) EU/FOOD SAFETY: Cities of Parma, Barcelona and Helsinki campaign to host European Food Authority in 2002 emphasising their respective assets
(EU) EU/COMPETITION: EMI and Time Warner decide not to go ahead for the moment with their planned merger, given the European Commission's objections (which could facilitate the approval of the rapprochement between AOL and Tim Warner)
(EU) EU/TRADE UNIONS: EU enlargement will only succeed if citizens and public opinion are involved
(EU) EU/STATE AID: Commission approves aid to multimodal transport at port of Rotterdam
(EU) EU/STATE AID: Commission approves modification of aid to Olympic Airways
(EU) EU/STATE AID: Commission approves Italian aid scheme aimed at regularizing undeclared workers
(EU) EU/TRANSPORT:
ECONOMIC INTERPENETRATION
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VALUE OF THE EURO IN DIFFERENT CURRENCIES 05/10/2000: