COUNCIL OF THE EUROPEAN UNION,latest

 

01/02/2024 | Article Future of cohesion policy is the focus of the Mons informal meeting Cohesion policy: a genuine instrument for long-term investment, a driving force for transformation and a lever for a fair transition rooted in the territories' realities.

Press material Friday 2 February 2024

● Council of the EU   02/02/2024 00:45 | Press release | Circular economy: Council and Parliament strike provisional deal on the right to repair directive   The Council and the European Parliament reached today a provisional deal on the directive that promotes the repair of broken or defective goods, also known as the right-to-repair (or R2R) directive. The legislation agreed today will make it easier for consumers to seek repair instead of replacement by making the access to repair services easier, faster, transparent, and more attractive. The provisional agreement applies to all products with repair requirements on EU law, sets an obligation to repair on manufacturers of goods with repair requirements, establishes a European information form providing consumers with key data on the repair service, and unifies the national repair information platforms into a European online platform. "With the agreement reached today, Europe makes a clear choice for repair instead of disposal. By Facilitating the repair of defective goods, we not only give a new life to our products, but also create good quality jobs, reduce our waste, limit our dependency on foreign raw materials and protect our environment." Alexia Bertrand, Belgian State Secretary for the Budget and Consumer Protection, added to the Minister of Justice and of the North Sea Priority: repair and reuse Very often, when the vacuum cleaner, the dish washer, a coffee machine or any other product breaks or is defective, it is easier to dispose of it and buy a new one than have it repaired, especially when the legal guarantee has expired. The directive that co-legislators have agreed today creates incentives for consumers to prolong the life of the product by having it repaired, which in turn will boost the repair sector, reduce waste and promote more sustainable business models. To achieve this, the directive proposes a new set of tools to make repair more attractive to consumers. These include: the possibility for consumers to request manufacturers to repair products that are technically repairable under EU law (for instance, washing machines, vacuum cleaners or mobile phones) a European repair information form which repairers can offer to consumers, with clear information like repair conditions, time to finish the works, prices, replacement products, etc. (the directive includes a model of this form as annex 1) a European Online Platform for repair to facilitate the matchmaking between consumers and repairers an extension of 12 months of the liability period of the seller after the repair of a product Main elements of the agreement The provisional agreement reached today by the Council and the Parliament maintains the consumer right to choose between repair and replacement when a product is broken or defective. The deal also supports the general objectives of the directive, but introduces some improvements regarding the scope of application, the obligation to repair, the content of the information form, the online platform. Scope The provisional agreement keeps the scope of the directive to those products for which the EU legislation lays down reparability requirements (i.e. washing machines, dishwashers, refrigerators, or vacuum cleaners). In the future, the Commission can introduce reparably requirements for new products, through the eco-design regulation, which will then be added to the list of products covered by the R2R directive (Annex 2). The agreement obliges manufacturers to provide information concerning spare parts in their web site, make them available to all parties in the repair sector at a reasonable prize and forbid practices that prevent the use of second-hand or 3D printed spare parts by independent repairers. Obligation to repair and freedom of choice The text agreed today requires manufacturers to make the necessary repairs within a reasonable time and, unless the service is provided for free, for a reasonable price too, so that consumers are encouraged to opt for repair. However, the deal also maintains consumers' right to choose between repair and replacement for defective products within the liability period of the seller included in the guarantee. If the consumer chooses the repair of the good, the seller's liability period will be extended by 12 months from the moment when the product is brought into conformity. This period may be further prolonged by member states if they so wish. European repair information form To cut red tape for repairers (particularly the small ones), the provision of a European standardized form is optional. However, if repairers provide the form to consumer, the conditions set out in the form will be binding for them. The form must be provided free of charge, although the consumer may be asked to pay the cost of the diagnostic service. The key information included in the form will be valid for 30 calendar days, but the consumer and repairer may agree to extend this period. European online repair platform The agreement reached today proposes the creation of a European online repair platform designed and operated at European level, instead of 27 national platforms. The aim of the platform is to make available for consumers the different repair services at EU level but also cross borders and in each member state. Therefore, the EU platform will have sections for each member state, with information coming also from national repair platforms, whether public or private. At the same time, national platforms will have the possibility to include information about community-led repair initiatives. Next steps The provisional agreement reached with the European Parliament now needs to be endorsed and formally adopted by both institutions. Background This proposal was presented by the Commission on 22 March 2023 and is part of the New Consumer Agenda and the Circular Economy Action Plan. It complements other recent legislative initiatives to promote sustainable consumption, such as the ecodesign Regulation (which will promote the production of repairable products) and the Directive on empowering consumers for the green transition (which will enable consumers to make better-informed purchasing decisions at the point of sale). Commission proposal Negotiating mandate Circular Economiy in the web of the Council

Press material Thursday 1 February 2024

● Council of the EU   01/02/2024 18:14 | Press release | European statistics: Council and Parliament reach provisional deal   The Council and the Parliament negotiators today reached a provisional political agreement to amend current rules on European statistics. The rules provide the legal framework at EU level for the development, production and dissemination of European statistics. This provisional deal will make the legal framework governing European statistics fit for the future, allowing statistical authorities to tap into the full potential of digital data sources and technologies, and making the framework more efficient and responsive to crises. The provisional agreement was reached by the Council’s presidency and the European Parliament’s representatives, based on mandates from their respective institutions. Next steps The provisional agreement is subject to approval by the Council before going through the formal adoption procedure. Background Regulation 223/2009 provides the legal framework at EU level for the development, production and dissemination of European statistics. Since the adoption of the regulation, society has changed profoundly. The European Statistical System now operates in a context driven by profound digital transformation that has created new information needs alongside the emergence of many digital data sources. On 10 July 2023, the Commission proposed to amend Regulation 223/2009 to make the legal framework governing European statistics fit for the future and significantly improve the responsiveness of the European Statistical System to data needs. Council position on European Statistics Commission proposal on European Statistics

Press material Thursday 1 February 2024

● Council of the EU   01/02/2024 16:35 | Press release | Listings on European stock exchanges: Council and Parliament agree on new act   The Council and the Parliament have reached a provisional agreement on the listing act, a package that will make EU public capital markets more attractive for EU companies and make it easier for companies of all sizes, including SMEs, to list on European stock exchanges. The agreement will cut red tape and costs to help European companies of all sizes, in particular small and medium-sized enterprises, access more sources of financing. This will encourage companies to get and remain listed on EU public markets. Easier access to public markets will allow companies to better diversify and complement available sources of funding. "The agreement found on the Listing Package will reduce the administrative burden for companies and contribute to making EU capital markets more attractive fully in line with the objectives of the capital markets union. It is important that we continue to encourage companies to list on the stock exchange while at the same time ensuring high levels of investor protection and market integrity throughout Union." Vincent Van Peteghem, Minister of Finance of Belgium The provisional agreement strikes a balance between alleviating ongoing disclosure requirements and maintaining market integrity and efficiency in the market abuse framework by narrowing down the scope of the disclosure obligation in case of protracted processes (multi-stage events). The immediate disclosure obligation no longer covers the intermediate steps of that process, instead, the issuers only need to disclose inside information related to the event that is completing the protracted process. It also alleviates the investment research rules in order to increase the level of research on SMEs in the EU. This is important to inform potential investors about the prospect of investing in SMEs and improves the visibility of listed issuers. The Council and the Parliament agreed that investment firms must ensure that the issuer-sponsored research they distribute is produced in compliance with the EU code of conduct. The agreement also allows the re-bundling of payments for research and execution of orders. The agreement between the Council and the Parliament reinforces cooperation and coordination between ESMA and the national competent authorities for instance on cooperation agreements with third countries. The directive on multiple-vote shares has also been provisionally agreed between the Council and the Parliament. Next steps The text of the provisional agreement will now be finalised and presented to member states’ representatives and the European Parliament for approval. If approved, the Council and the Parliament will have to formally adopt the texts. Background On 7 December 2022, the Commission put forward measures to alleviate – through a new listing package– the administrative burden for companies of all sizes, in particular SMEs, so that they can better access public capital market funding, without undermining market integrity and investor protection. The listing act package consists of: a regulation amending the prospectus regulation, market abuse regulation and the markets in financial instruments regulation; a directive amending the markets in financial instruments directive and repealing the listing directive; a directive on multiple-vote shares. The proposal seeks to streamline the rules applicable to companies going through a listing process and companies already listed on EU public markets with an aim to simplify for the companies by alleviating their administrative burdens and costs, while preserving a sufficient degree of transparency, investor protection and market integrity. Listing act regulation – mandate for negotiations with the European Parliament Listing act regulation – mandate for negotiations with the European Parliament - Addendum Listing act directive – mandate for negotiations with the European Parliament Capital Markets Union (background information)

Press material Thursday 1 February 2024

● Council of the EU   01/02/2024 16:22 | Press release | Multiple vote share structures: Council and Parliament adopt provisional agreement to ease SMEs’ access to finance   The Council and the European Parliament today reached a provisional agreement on the directive on multiple-vote share structures for companies seeking admission to trading of their shares on an SME growth market. The directive aims at encouraging company owners, especially owners of SMEs, to list the shares of their company for the first time on an SME growth market using multiple-vote share structures, so that they can retain sufficient control of their company after listing; moreover, the Directive protects the rights of newly entering shareholders by introducing safeguards. The provisional agreement extends the scope of the directive to include more markets than just SME growth markets, defines the safeguards necessary for investors entering a multiple-vote share structure and establishes the necessary transparency rules for this kind of undertaking. "SMEs are the backbone of the European Economy and need good access to financial markets to grow, progress and create jobs. The multiple-vote share structure Directive will widen the portfolio of financial options available to them, making access to markets easier, safer and adapted to their business model. At the same time, it will make EU capital markets more attractive and competitive." Paul Van Tigchelt, Belgian Deputy Prime Minister and Minister for Justice and the North Sea Encouraging SME listing The Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) allowed for the creation of ‘SME growth markets’, a trading venue facilitating access to capital for SMEs. However, many entrepreneurs do not list their companies on these markets for fear of losing control due to the entry of new shareholders. One instrument to prevent this is the multiple-vote share structure, which enables controlling shareholders (i.e. company founders) to have more votes per share than new investors. Currently, some Member States allow multiple-vote share structures, while in others they are prohibited. The Directive aims to reduce inequalities for companies seeking to raise funds on SME growth markets by creating minimum harmonisation in the Single Market that removes obstacles to SME growth markets access generated by regulatory barriers. At the same time, the proposed Directive protects the rights of shareholders with fewer votes per share by introducing safeguards on issues such as how key decisions are taken at general meetings. Main elements of the agreement Scope The provisional agreement extends the scope of the Directive to include, besides SME growth markets, any other Multilateral Trading Facility that allows the admission to trading of SME shares. A possible future extension of the scope to regulated markets could be included in the review clause. Safeguards The co-legislators have agreed on either a maximum voting ratio (this is the value of the votes per share that existing shareholders may hold compared to entering shareholders) being set, leaving its value to Member States’ discretion, or a restriction for (most) qualified majority decisions by the general meeting. Other safeguards remain optional. Transparency To help investors make the right decisions, the agreement provides for the disclosure of the annual financial statements at the time of admission to trading and, thereafter, only when such information has not previously been published or has changed since its last publication. The co-legislators have also agreed to give a mandate to the European Securities and Markets Authority for developing regulatory technical standards on the most appropriate way of marking such shares. Next steps The provisional agreement reached with the European Parliament now needs to be endorsed and formally adopted by both institutions. Background The proposal was adopted by the Commission on 7 December 2022. On 19 April, the Council adopted its negotiating mandate for negotiations with the European Parliament, with a view to reaching an agreement at first reading. The proposed Directive is part of the Listing Act package, a set of measures to make public capital markets more attractive to EU companies and to facilitate access to capital for small and medium-sized companies. Commission’s proposal Negotiating mandate

Press material Thursday 1 February 2024

● European Council   01/02/2024 14:46 | Conclusions | European Council conclusions, 1 February 2024   On 1 February, the European Council adopted conclusions on the multiannual financial framework and Ukraine. European Council conclusions, 1 February 2024

Υλικό για τον Τύπο Πέμπτη 1 Φεβρουαρίου 2024

● Ευρωπαϊκό Συμβούλιο   01/02/2024 17:59 | Συμπερασματα | Συμπεράσματα του Ευρωπαϊκού Συμβουλίου, 1 Φεβρουαρίου 2024   Την 1η Φεβρουαρίου το Ευρωπαϊκό Συμβούλιο ενέκρινε συμπεράσματα σχετικά με το πολυετές δημοσιονομικό πλαίσιο, την Ουκρανία και τη Μέση Ανατολή. Συμπεράσματα του Ευρωπαϊκού Συμβουλίου, 1 Φεβρουαρίου 2024

Press material Friday 2 February 2024

● Council of the EU   02/02/2024 14:35 | Press release | Guatemala: Council sanctions an additional five individuals for undermining democracy and the rule of law   The Council decided today to impose restrictive measures against five individuals for actions that undermine democracy, the rule of law or the peaceful transfer of power in Guatemala. The listings include the Attorney General of Guatemala, María Consuelo Porras Argueta De Porres and three other officials at the Guatemalan Public Prosecutor’s Office – Secretary General Ángel Arnoldo Pineda Ávila, Head of the Special Prosecution Office Against Impunity José Rafael Curruchiche Cucul and prosecutor Leonor Eugenia Morales Lazo De Sánchez – as well as judge Fredy Raúl Orellana Letona. Those targeted are responsible for undermining democracy, the rule of law and the peaceful transfer of power in Guatemala. The listed individuals are subject to an asset freeze, and EU citizens and companies are forbidden from making funds available to them. The individuals are also subject to a travel restriction, which prevents them from entering or transiting through EU territories. Today’s decision follows the adoption, on 12 January 2024, of a dedicated framework for restrictive measures in support of democracy and a peaceful and orderly transfer of power in Guatemala. The framework was adopted ahead of the inauguration of democratically elected President Bernardo Arévalo on 14 January 2024, attended by the High Representative Josep Borrell. "“When I travelled to Guatemala City, I did so knowing that the presence of numerous international guests would not only send a strong message of support to democracy in Guatemala, but also a strong signal to obstructionists that circumventing democratic processes would not be tolerated by the international community. The EU stands ready to take further steps to hold those responsible accountable." Josep Borrell, High Representative for Foreign Affairs and Security Policy The EU remains fully committed to support democracy in Guatemala and stands ready to work closely together with the new government of President Bernardo Arévalo on key issues of mutual interest such as to strengthen the rule of law, enhance sustainable and inclusive economic development and promote social justice to the benefit of the Guatemalan population. Background The sanctions regime in respect of Guatemala was established on 12 January 2024, to hold accountable those obstructing a democratic transition following the 2023 general elections, which resulted in a clear victory of President Bernardo Arévalo, as attested by the EU Election Observation Mission (EOM) to Guatemala. The EU High Representative for Foreign Affairs and Security Policy, Josep Borrell attended the inauguration of President Bernardo Arévalo in January 2024. Council Implementing Regulation (EU) 2024/455 of 2 February 2024 implementing Regulation (EU) 2024/287 concerning restrictive measures in view of the situation in Guatemala (including the list of the sanctioned individuals) Council Decision (CFSP) 2024/457 of 2 February 2024 amending Decision (CFSP) 2024/254 concerning restrictive measures in view of the situation in Guatemala (including the list of the sanctioned individuals) Guatemala: Council establishes dedicated framework of restrictive measures in support of democracy, press release 12 January 2024 EU Delegation to Guatemala

Press material Friday 2 February 2024

● Council of the EU   02/02/2024 13:04 | Press release | Zimbabwe: Council renews restrictive measures for a further year   The Council today renewed its restrictive measures in view of the situation in Zimbabwe for a further year, until 20 February 2025. The EU measures in place consist of an embargo on arms and equipment which might be used for internal repression, and a targeted assets freeze against one entity, Zimbabwe Defence Industries. Since February 2022 there are no listed individuals. The EU will continue to closely follow developments in Zimbabwe, with a particular attention to the human rights situation and recalls its readiness to adapt the whole range of its policies accordingly. Background On 15 February 2011, the Council adopted Decision 2011/101/CFSP concerning restrictive measures in view of the situation in Zimbabwe. The remaining restrictive measures in place do not affect the people of Zimbabwe, its economy, foreign direct investments, or trade. Zimbabwe: Statement by the High Representative on behalf of the European Union, 28 February 2023 EU Delegation to Zimbabwe