COUNCIL OF THE EUROPEAN UNION-EUROGROUP latest news

PRESS

Council of the European Union 14/6/2019  Law enforcement access to financial information: Council adopts new rules The EU is strengthening the capacity of law enforcement authorities to fight terrorism and serious crime by improving their access to financial information. Today, the Council adopted a directive laying down rules to facilitate the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences. The existing EU directive on the prevention of money laundering requires member states to establish centralised bank account registries or data retrieval systems to allow for the timely identification of persons holding bank and payment accounts and safe deposit boxes. It also gives financial intelligence units direct access to the information held in those registries. The new rules require that member states: designate competent authorities (including at least asset recovery offices) which can have direct and immediate access to bank account information for the prevention, detection, investigation or prosecution of certain criminal offences, and which can request information or analysis from the financial intelligence units ensure that financial intelligence units are required to cooperate with the competent authorities and are able to reply in a timely manner to requests for financial information or analysis from those authorities ensure that the designated competent authorities reply in a timely manner to requests for law enforcement information by the national financial intelligence unit ensure that financial intelligence units from different member states are entitled to exchange information in exceptional and urgent cases related to terrorism or organised crime associated with terrorism ensure the competent authorities and the financial intelligence unit are entitled to reply (either directly or through the Europol national unit) to duly justified requests related to bank account and financial information made by Europol Next steps The directive will now be signed and published in the official journal of the European Union, and will enter into force on the twentieth day following its publication. Member states will then have 2 years to bring into force any legislation and provisions needed to comply with the directive. Directive laying down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences Council of the European Union 14/6/2019  Taxation: Dominica removed from the EU list of non-cooperative jurisdictions for tax purposes The Council today decided to remove Dominica from the EU list of non-cooperative jurisdictions for tax purposes. Dominica has implemented its commitments and addressed EU concerns as regards automatic exchange of financial information. More specifically, Dominica completed the necessary steps to sign and ratify the OECD multilateral convention on mutual administrative assistance. This step warrants Dominica's removal from the EU's list of non-cooperative jurisdictions. As a result, 11 jurisdictions remain on the EU list of non-cooperative jurisdictions for tax purposes: American Samoa, Belize, Fiji, Guam, Marshall Islands, Oman, Samoa, Trinidad and Tobago, United Arab Emirates, US Virgin Islands and Vanuatu. The EU list is contributing to on-going efforts to prevent tax avoidance and promote good governance principles such as tax transparency, fair taxation or international standards against tax base erosion and profit shifting. The list was established in December 2017 and is contained in annex I of the conclusions adopted by the Council. It was revised in March 2019, following an in-depth review of the implementation of the commitments taken by third country jurisdictions that are part of the process. The work on the EU list of non-cooperative jurisdictions is a dynamic process. The Council will continue to regularly review and update the list in 2019, while it plans to move towards a bi-annually review as of 2020. June 2019 note on changes to the EU list of non-cooperative jurisdictions Council webpage on the EU list of non-cooperative jurisdictions Council webpage on the code of conduct group Eurogroup 14/6/2019 Main results - Eurogroup, 13/06/2019 The Eurogroup agreed on a term sheet on the future budgetary instrument for competitiveness and convergence and reached a broad agreement on revising the ESM treaty text. Ministers also briefly discussed Italy's budget plans. Eurogroup, 13/06/2019 Main results Inclusive format EMU deepening - preparation of the June Euro Summit Following the mandate received by EU leaders at the 14 December Euro Summit, the Eurogroup in inclusive format continued discussing the deepening of the Economic and Monetary Union (EMU) with a view to preparing the Euro Summit in June. Ministers agreed on a term sheet describing features of the budgetary instrument for competitiveness and convergence.This term sheet will be submitted to the President of the European Council ahead of the upcoming Euro Summit. The Eurogroup also reached a broad agreement on revising the ESM treaty text to implement the political agreement reached at the Euro Summit in December 2018. This agreement covers issues such as the common backstop for bank resolution, the precautionary instruments as well as institutional aspects and the issue of cooperation between the ESM and the European Commission within and outside programmes. Our aim was to deliver on three key areas ahead of the Euro Summit: the budgetary instrument, the ESM Treaty and Banking Union. More work is needed, but we made real progress. Eurogroup President Mário Centeno Economic and Monetary Union: Eurogroup agrees term sheet on euro-area budgetary instrument and revised ESM treaty (press release, 15 June 2019) Euro Summit, 21/6/2019 Deepening Europe's Economic and Monetary Union (background information) Regular format IMF Article IV review of the eurozone The International Monetary Fund's (IMF) Managing Director, Christine Lagarde, presented the outcome of the IMF's Article IV consultation with the eurozone. The IMF is expected to publish the final report shortly. The IMF carries out such consultations every year with all of the IMF members, both individual countries and currency regions, including the eurozone. This is done in accordance with Article IV of the IMF's Articles of Agreement. Thematic discussion on growth and jobs - inequality The Eurogroup discussed inequality in the eurozone, based on the European Commission analysis as well as a presentation by Philippe Aghion, a French economist and Professor at the College de France and at the London School of Economics. He joined the meeting at the Eurogroup President's invitation and gave a presentation on how to reconcile innovation and inclusive growth. Promoting conditions leading to inclusive growth is among the Eurogroup's priorities, and key to better functioning of the Economic and Monetary Union overall. Presentation by Philippe Aghion Technical note to the Eurogroup by the Commission on delivering inclusive growth Cyprus - post-programme surveillance The European Commission and the European Central Bank (ECB) updated the Eurogroup of the main findings of their 6th post-programme surveillance mission to Cyprus that took place between 18 and 22 March 2019. The ESM informed about the results of its Early Warning System, and the IMF – on its 3rd post-programme monitoring mission to Cyprus. The Eurogroup concurred with the assessment of the institutions. Post-programme surveillance aims to establish any possible risks to the country's ability to repay loans received under its earlier adjustment programme. The surveillance continues until at least 75 % of the loan has been repaid. Post-Programme Surveillance Report. Cyprus, Spring 2019 Staff statement following the sixth post-programme surveillance (PPS) mission to Cyprus, 22/3/2019 IMF: Staff Concluding Statement of the Third Post-Program Monitoring Mission, 28/3/2019 Eurogroup work programme 2/2019 The Eurogroup adopted its work programme for the second half of this year. Eurogroup work programme (background information) Commission spring package The Commission briefly informed ministers of its recent spring package, including some Stability and Growth Pact (SGP) related steps. In this context, the Eurogroup briefly discussed the situation in Italy. Ministers concurred with the Commission analysis and with the opinion of the Economic and Financial Committee (EFC) that a debt based Excessive Deficit Procedure (EDP) is warranted. Looking ahead, further elements put forward by Italy could be taken into account. "Italy is invited to take the necessary measures ensure compliance with the provisions of the Stability and Growth Pact." Eurogroup President Mário Centeno Commission spring package Meeting information Luxembourg   13/06/2019 Preparatory documents Draft annotated agenda - Eurogroup, 13 June 2019 Draft annotated agenda - Eurogroup in inclusive format, 13 June 2019 Monitoring report on risk reduction indicators (preparatory document for the discussion on EMU)  HLWG Chair report on the strengthening of the banking union, including EDIS Outcome documents List of participants List of participants (Inclusive format) Letter by President Centeno to President Tusk on the deepening of the economic and monetary union  Revised draft of the ESM treaty as agreed by Eurogroup  Annexes to the revised draft of the ESM treaty  Press releases Remarks by Mário Centeno following the Eurogroup meeting of 13 June 2019 14/06/2019, 09:20 Term sheet on the Budgetary Instrument for Convergence and Competitiveness 14/06/2019, 08:45 Συμβούλιο της Ευρωπαϊκής Ένωσης 14/6/2019 | ΔΕΛΤΊΟ ΤΎΠΟΥ Κατ’ εξουσιοδότηση και εκτελεστικές πράξεις: Η ΕΕ προσαρμόζει σημαντικό αριθμό νομοθετικών πράξεων στη Συνθήκη της Λισσαβώνας Το Συμβούλιο εξέδωσε σήμερα κανονισμό για την ευθυγράμμιση 64 νομοθετικών πράξεων που αναφέρονται στην αποκαλούμενη «κανονιστική διαδικασία με έλεγχο» με τη Συνθήκη της Λισσαβώνας. Η Συνθήκη της Λισσαβώνας εισήγαγε διάκριση μεταξύ των αρμοδιοτήτων που ανατίθενται στην Επιτροπή για την έκδοση μη νομοθετικών πράξεων γενικής ισχύος που συμπληρώνουν ή τροποποιούν ορισμένα μη ουσιώδη στοιχεία μιας νομοθετικής πράξης (κατ’ εξουσιοδότηση πράξεις) και των αρμοδιοτήτων που ανατίθενται στην Επιτροπή για την έκδοση πράξεων προς εξασφάλιση ενιαίων προϋποθέσεων για την εκτέλεση νομικά δεσμευτικών πράξεων της Ένωσης (εκτελεστικές πράξεις). Αυτό σημαίνει ότι όλες οι υφιστάμενες νομοθετικές πράξεις που αναφέρονται στην προηγούμενη «κανονιστική διαδικασία με έλεγχο» πρέπει να ευθυγραμμισθούν με τη Συνθήκη της Λισσαβώνας. Αυτό έχει ήδη γίνει σε ορισμένες περιπτώσεις. Για τις υπόλοιπες περιπτώσεις, το Συμβούλιο, το Κοινοβούλιο και η Επιτροπή αναγνώρισαν το 2016 στη Διοργανική συμφωνία για τη βελτίωση του νομοθετικού έργου ότι απαιτείται ταχεία ευθυγράμμιση. Ο κανονισμός που εγκρίθηκε σήμερα καλύπτει ορισμένες από τις πράξεις που προτάθηκαν για ευθυγράμμιση από την Επιτροπή το 2016. Στις περισσότερες περιπτώσεις αντικαθιστά την κανονιστική διαδικασία με έλεγχο με παραπομπές σε κατ’ εξουσιοδότηση πράξεις και σε ορισμένες περιπτώσεις σε εκτελεστικές πράξεις. Το Συμβούλιο, το Κοινοβούλιο και η Επιτροπή θα συνεχίσουν να εξετάζουν την ευθυγράμμιση των υπόλοιπων πράξεων κατά τη διάρκεια της θητείας του Ευρωπαϊκού Κοινοβουλίου. Κανονισμός για την προσαρμογή διαφόρων νομικών πράξεων οι οποίες προβλέπουν τη χρήση της κανονιστικής διαδικασίας με έλεγχο στα άρθρα 290 και 291 ΣΛΕΕ Κοινή δήλωση του Κοινοβουλίου, του Συμβουλίου και της Επιτροπής Εκτελεστικές και κατ’ εξουσιοδότηση πράξεις (ιστότοπος της Επιτροπής) Council of the European Union 14/6/2019 | PRESS RELEASE Delegated and implementing acts: EU adapts a significant number of legislative acts to the Lisbon Treaty The Council today adopted a regulation aligning 64 legislative acts which refer to the so-called 'regulatory procedure with scrutiny' with the Lisbon Treaty. The Lisbon Treaty introduced a distinction between powers delegated to the Commission to adopt non-legislative acts of general application to supplement or amend certain non-essential elements of a legislative act (delegated acts) and powers conferred upon the Commission to adopt acts to ensure uniform conditions for implementing legally binding Union acts (implementing acts). This means that  all existing legislative acts referring to the former 'regulatory procedure with scrutiny' have to be brought in line with the Lisbon Treaty. In some cases this has already happened. For the rest, the Council, Parliament  and Commission acknowledged in the 2016 Interinstitutional Agreement on Better Law-Making the need for prompt alignment. The regulation adopted today covers some of the acts proposed for alignment by the Commission in 2016. In the majority of cases it replaces the regulatory procedure with scrutiny with references to delegated acts and in some cases to implementing acts. The Council, Parliament and Commission will continue to work on the alignment of the remaining acts during the term of the next European Parliament. Regulation adapting a number of legal acts providing for the use of the regulatory procedure with scrutiny to Articles 290 and 291 TFEU Joint statement by the Parliament, the Council and the Commission Implementing and delegated acts (Commission webpage) European Council     20/6/2019  A new strategic agenda 2019-2024 In recent years, the world has become increasingly unsettled, complex and subject to rapid change. That creates both opportunities and challenges. Over the next five years, the EU can and will strengthen its role in this changing environment. Together, we will be determined and focused, building on our values and the strengths of our model. This is the only effective way to shape the future world, promote the interests of our citizens, businesses and societies, and safeguard our way of life. This Strategic Agenda provides an overall framework and direction for that response. It is intended to guide the work of the Institutions in the next five years. It focuses on four main priorities: protecting citizens and freedoms developing a strong and vibrant economic base building a climate-neutral, green, fair and social Europe promoting European interests and values on the global stage. Lastly, it sets out how to deliver on those priorities. Protecting citizens and freedoms Europe must be a place where people feel free and safe. The EU shall defend the fundamental rights and freedoms of its citizens, as recognised in the Treaties, and protect them against existing and emerging threats. The common values underpinning our democratic and societal models are the foundation of European freedom, security and prosperity. The rule of law, with its crucial role in all our democracies, is a key guarantor that these values are well protected; it must be fully respected by all Member States and the EU. We must ensure the integrity of our territory. We need to know and be the ones to decide who enters the EU. Effective control of the external borders is an absolute prerequisite for guaranteeing security, upholding law and order, and ensuring properly functioning EU policies, in line with our principles and values. We are determined to further develop a fully functioning comprehensive migration policy. We will continue and deepen our cooperation with countries of origin and transit to fight illegal migration and human trafficking and to ensure effective returns. Concerning the internal dimension, we need agreement on an effective migration and asylum policy. A consensus needs to be found on the Dublin Regulation to reform it based on a balance of responsibility and solidarity, taking into account the persons disembarked following Search and Rescue operations. We will take the necessary steps to ensure proper functioning of Schengen. We will build on and strengthen our fight against terrorism and cross-border crime, improving cooperation and information-sharing, and further developing our common instruments. We will increase the EU’s resilience against both natural and man-made disasters. Active solidarity and the pooling of resources are key in this respect. We must protect our societies from malicious cyber activities, hybrid threats and disinformation originating from hostile State and non-State actors. Addressing such threats requires a comprehensive approach with more cooperation, more coordination, more resources and more technological capacities. Developing our economic base: the European model for the future A strong economic base is of key importance for Europe’s competitiveness, prosperity and role on the global stage and for the creation of jobs. As technological, security and sustainability challenges reshape the global landscape, we need to renew the basis for long-term sustainable and inclusive growth and strengthen cohesion in the EU. This requires achieving the upward convergence of our economies and addressing the demographic challenges. We must ensure that the euro works for our citizens and remains resilient, deepening the Economic and Monetary Union in all its dimensions, completing the Banking and Capital Markets Union and strengthening the international role of the euro. To maximise our impact, we need a more integrated approach connecting all relevant policies and dimensions: deepening and strengthening the Single Market and its four freedoms, designing an industrial policy fit for the future, addressing the digital revolution and ensuring fair and effective taxation. The Single Market in all its dimensions is a key asset in that regard. The EU cannot afford to under-utilise the potential of a market of half a billion people, particularly in the area of services. Short-term difficulties cannot be invoked as an argument against a long-term strategy that is bold, all-encompassing, and forward-looking. This must go hand in hand with a more assertive, comprehensive and coordinated industrial policy. The EU needs both, and needs them urgently. Over the next few years, the digital transformation will further accelerate and have far-reaching effects. We need to ensure that Europe is digitally sovereign and obtains its fair share of the benefits of this development. Our policy must be shaped in a way that embodies our societal values, promotes inclusiveness, and remains compatible with our way of life. To this end, the EU must work on all aspects of the digital revolution and artificial intelligence: infrastructure, connectivity, services, data, regulation and investment. This has to be accompanied by the development of the service economy and the mainstreaming of digital services. At the same time, we must step up investment in people's skills and education, do more to foster entrepreneurship and innovation and increase research efforts, in particular by addressing the fragmentation of European research, development and innovation. Investing in our future also means encouraging and supporting public and private investment, including in infrastructure, to finance the growth of our economy and our businesses, including SMEs. In a world where common rules and standards are increasingly questioned, it will be vital to promote a level playing field, including in the area of trade. This means ensuring fair competition within the EU and on the global stage, promoting market access, fighting unfair practices, extraterritorial measures and security risks from third countries, and securing our strategic supply chains. We will continue to update our European competition framework to new technological and global market developments. Building a climate-neutral, green, fair and social Europe Europe needs inclusiveness and sustainability, embracing the changes brought about by the green transition, technological evolution and globalisation while making sure no-one is left behind. As the effects of climate change become more visible and pervasive, we urgently need to step up our action to manage this existential threat. The EU can and must lead the way, by engaging in an in-depth transformation of its own economy and society to achieve climate neutrality. This will have to be conducted in a way that takes account of national circumstances and is socially just. The climate transition will afford us a real opportunity to modernise and at the same time to become a global leader in a green economy. Our policies should be consistent with the Paris Agreement. The EU cannot be the only one to act: all countries should move forward and step up their climate action. The success of the green transition will depend on significant mobilisation of private and public investments, on having an effective circular economy, and an integrated, interconnected and properly functioning European energy market that provides sustainable, secure and affordable energy, in full respect of the Member States' right to decide on their energy mix. The EU will accelerate the transition to renewables, increase energy efficiency, reduce dependence on outside sources, diversify its supplies, and invest in solutions for the mobility of the future. In parallel, we must continue to improve the environment in our cities and our countryside, enhance the quality of our air and waters, and promote sustainable agriculture, which is vital to guaranteeing food safety and fostering quality production. We will lead efforts to fight the loss of biodiversity and preserve environmental systems, including oceans. Change towards a greener, fairer and more inclusive future will entail short-term costs and challenges. That is why it is so important to accompany the change and to help communities and individuals adjust to the new world. This requires keen attention to social issues. The European Pillar of Social Rights should be implemented at EU and Member State level, with due regard for respective competences. Inequalities, which affect young people in particular, pose a major political, social and economic risk; generational, territorial and educational divides are developing and new forms of exclusion emerging. It is our duty to provide opportunities for all. We need to do more to ensure equality between women and men, as well as rights and equal opportunities for all. This is both a societal imperative and an economic asset. Adequate social protection, inclusive labour markets and the promotion of cohesion will help Europe preserve its way of life, as will a high level of consumer protection and food standards, and good access to healthcare. We will invest in culture and our cultural heritage, which are at the heart of our European identity. Promoting Europe’s interests and values in the world In a world of increasing uncertainty, complexity and change, the EU needs to pursue a strategic course of action and increase its capacity to act autonomously to safeguard its interests, uphold its values and way of life, and help shape the global future. The EU will remain a driving force behind multilateralism and the global rules-based international order, ensuring openness and fairness and the necessary reforms. It will support the UN and key multilateral organisations. The EU will use its influence to lead the response to global challenges, by showing the way forward in the fight against climate change, promoting sustainable development and implementing the 2030 Agenda, and cooperating with partner countries on migration. The EU will promote its own unique model of cooperation as inspiration for others. It will uphold the European perspective for European States able and willing to join. It will pursue an ambitious neighbourhood policy. It will develop a comprehensive partnership with Africa. Together with global partners sharing our values, the EU will continue to work towards global peace and stability, and to promote democracy and human rights. But to better defend its interests and values and help shape the new global environment, the EU needs to be more assertive and effective. This requires us to be more united in the stances we take, and more determined and effective in exerting our influence. It also means making more resources available and better using those we already have at our disposal. And it means giving a clearer priority to European economic, political and security interests, leveraging all policies to that end. An ambitious and robust trade policy ensuring fair competition, reciprocity and mutual benefits is a central element in that respect, both at the multilateral level in a reformed WTO and in bilateral relations between the EU and its partners. The EU’s CFSP and CSDP must become more responsive and active and be better linked to the other strands of external relations. The EU also needs to take greater responsibility for its own security and defence, in particular by enhancing defence investment, capability development and operational readiness; it will cooperate closely with NATO, in full respect of the principles set out in the Treaties and by the European Council, including the principles of inclusiveness, reciprocity and decision-making autonomy of the EU. Relations with strategic partners, including our transatlantic partners, and emerging powers have to be a key component of a robust foreign policy. To that end, there need to be far more synergies between the EU and the bilateral levels. The EU can only engage with other global powers on an equal footing if it avoids a piecemeal approach and presents a united front, backed up by EU and Member State resources. Delivering on our priorities The EU must address internal and external challenges in an integrated manner. For external action to be effective, we need a strong internal economic base. Our Institutions must focus on what really matters. In line with the principles of subsidiarity and proportionality, the EU must be big on big and small on small. It must leave economic and social actors the space to breathe, to create and to innovate. It will be important to engage with citizens, civil society and social partners, as well as with regional and local actors. Our Institutions will work in accordance with the spirit and the letter of the Treaties. They will respect the principles of democracy, rule of law, transparency and equality between citizens and between Member States. Good governance also depends on the rigorous implementation and enforcement of agreed policies and rules, which must be closely monitored. Each institution should revisit its working methods and reflect on the best way to fulfil its role under the Treaties. The EU must give itself the means to match its ambitions, attain its objectives and carry through its policies. Institutions and Member States must work side by side and use their considerable resources in a joint endeavour. The talents of regional and local actors should be harnessed for the benefit of the overall effort. This Strategic Agenda is the first step in a process that will be taken forward by the Institutions and the Member States. The European Council will follow the implementation of these priorities closely and will define further general political directions and priorities as necessary. A new strategic agenda 2019-2024 (PDF)