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Τρίτη 10 Δεκεμβρίου 2024

EUROGROUP, COUNCIL OF THE EUROPEAN UNION, update

 

 
● Eurogroup
 
09/12/2024 21:31 | Meetings |

Main results - Eurogroup, 9 December 2024

 

The Eurogroup held a discussion with Rachel Reeves, the UK’s Chancellor of the Exchequer, on global economic developments, in inclusive format. The Eurogroup reviewed macroeconomic developments and policies in the euro area, including in the context of the International Monetary Fund's Article IV consultation. Additionally, ministers discussed draft budgetary plans and prospects for the euro area, based on the European Commission’s opinions.

● Eurogroup
 
09/12/2024 20:32 | Statements and remarks |

Remarks by Paschal Donohoe following the Eurogroup meeting of 9 December 2024

 

Our regular Eurogroup meeting began with a discussion with the IMF on the euro area economy. Both the IMF and the Commission agreed that the euro area has shown remarkable resilience. We have contributed to this stability through our coordinated efforts. Inflation is down. Employment has stayed at record levels. And even if the outlook is uncertain these days, growth is set to resume. However, the focus for us - and the IMF has supported us in this - is on the reforms that can lift our growth, and our economic dynamism, and that can make room for investment and competitiveness. And innovation is at the forefront of this discussion.

We continued our discussion with an important part of our coordination of budget policies, which is the Commission’s assessment of the draft budget plans for next year. To that end, we adopted a statement.

We are at the start of the implementation of a major revision in the economic governance framework, which we agreed earlier in the year. The draft budget plans for 2025 marked the first steps towards translating this framework into real measures. And despite the challenges that may come along the way, we have the commitment, the capacity and the framework to deliver on the right policy: a gradual budget consolidation path for the medium term, coupled with investments on structural reforms and efforts to improve productivity and competitiveness.

We consider the slightly contractionary fiscal stance for 2025, coupled with a positive trend in public investment, to be appropriate, given the budget challenges that we face and the need to support the ongoing reduction in inflation. We congratulated those with budget plans considered on track and we reflected jointly on the risks and challenges, notably around budgets for next year.

The Finance Minister for France, Antoine Armand, took the opportunity to debrief us on the latest political developments in France. We all recalled the importance of sound public finances and the need for all of us to take the measures to deliver on our budget commitments, which fundamentally is about the ability of our economies to grow in the years ahead, giving us a better prospect for living standards that are good and that can develop further.

 

● Council of the EU
 
09/12/2024 20:35 | Meetings |

Main results - Agriculture and Fisheries Council, 9-10 December 2024

 

During the first day of the Agriculture and Fisheries Council, the Council unanimously endorsed conclusions on a farmer-focused post-2027 common agricultural policy, towards a competitive, crisis-proof, sustainable, farmer-friendly and knowledge-based future EU agriculture. Ministers also exchanged views on the future opportunities for the bioeconomy, and the Council took note of the progress made on the proposal for a forest monitoring framework.


● Council of the EU
 
09/12/2024 17:39 | Press release |

Democratic Republic of the Congo: Council renews EU restrictive measures for a further year

 

The Council today renewed its restrictive measures  in view of the situation in the Democratic Republic of the Congo (DRC) for an additional year, until 12 December 2025.

Altogether, the EU restrictive measures related to human rights violations, electoral obstruction and for sustaining the armed conflict, instability, and insecurity in the DRC now apply to 23 persons and one entity.

Those designated are subject to an asset freeze and EU citizens and companies are forbidden from making funds available to them. Natural persons are additionally subject to a travel ban, which prevents them from entering or transiting through EU member states.

The EU keeps developments in the DRC under constant review, and can decide to renew sanctions, and amend the list of targeted persons, entities and bodies based on developments on the ground.

Background

EU autonomous individual restrictive measures in view of the situation in the DRC were adopted by the Council for the first time in 2016 in response to serious human rights violations and the obstruction of the electoral process.

On 5 December 2022, the Council decided to amend the designation criteria to allow for the application of individual restrictive measures against natural or legal persons, entities or bodies that sustain, support or benefit from the armed conflict, instability or insecurity in the DRC, as well as those responsible for inciting violence, or exploiting the armed conflict, instability and insecurity in the DRC, including through the illicit exploitation and trade of natural resources.


09/12/2024 16:26 | Press release |

Council approves EU-UK fishing deal for 2025

 

The Council has approved an agreement reached with the United Kingdom on fishing opportunities for over 80 total allowable catches (TACs) for stocks jointly managed by the EU and the UK under the EU-UK Trade and Cooperation Agreement (TCA). The agreement secures the fishing rights of EU fishers in the Atlantic and the North Sea for 2025 and its timely conclusion will ensure stability and certainty for EU fishers and the industry.

“I welcome the agreement we reached with the United Kingdom, which gives certainty to the sector for the coming year and secures economically important fishing opportunities for our fishers. The agreement shows that both parties are committed to ensuring the sustainability of our shared stocks and protecting our oceans.”

— István Nagy, Hungarian Minister for Agriculture

Main elements of the agreement

The EU and the UK based their agreement on the best scientific advice available, provided in particular by the International Council for the Exploration of the Sea (ICES). The deal reached by the two parties contributes to reaching the objectives of the EU's common fisheries policy, namely ensuring that fisheries are ecologically, economically and socially sustainable. The deal is in line with the Trade and Cooperation Agreement concluded with the UK.

For stocks with no ICES advice, the EU and the UK agreed to continue working together to improve the availability of data to inform future scientific advice, while also noting progress made so far.

On stocks with zero catch advice, delegations agreed that it would be appropriate to establish specific TACs for by-catches (species that are caught unintentionally, while fishing for other specific species) to avoid choke situations that would lead to the closure of fisheries. These TACs have been set at levels aiming to prevent increases in the fishing mortality while allowing the stocks to be rebuilt.

Next steps

During the Agriculture and Fisheries Council meeting, taking place on 9 and 10 December, ministers will seek to reach a political agreement on the overall fishing opportunities in the Atlantic and the North Sea for fish stocks managed independently by the EU. The figures for the EU-UK shared stocks will be incorporated into that overarching political agreement.

Subsequently, the text will be finalised by the Council's legal and linguistic experts. After this, the regulation will be formally adopted by the Council and published in the Official Journal. The provisions will apply from 1 January 2025.

In the case of three other jointly managed stocks, for which the scientific advice does not align with the calendar year, i.e. sandeel (North Sea), sprat (North Sea and the English Channel) and Norway pout, the EU and UK will hold consultations during the course of 2025.

Background

Following the UK's withdrawal from the EU, fish stocks jointly managed by the EU and the UK are considered shared resources under international law.

The Trade and Cooperation Agreement (TCA) between the two parties sets out the terms under which the EU and the UK determine their respective fishing rights in the Atlantic and North Sea. The TCA agreement includes rules on licensing for fishing vessels and on mutual access to each other's waters.

Under the TCA, both parties hold annual consultations to determine overall catch limits for the following year. The quotas of each party are then established in line with the TCA. Consultations are led by the Commission and take into account a number of factors, including:

  • international obligations
  • ensuring the long-term sustainability of marine resources, in line with the EU's common fisheries policy
  • the best available scientific advice
  • the need to protect the livelihoods of fishers

The Council receives regular updates on the progress of the negotiations and its role is to provide guidance to the Commission on the EU's position and approve the final agreement on the annual catch limits and quotas.

The EU and the UK cooperate in the Specialised Committee on Fisheries (SCF). The SCF monitors and assists with issues linked to the management of shared fisheries and helps ensure regular constructive discussions on fisheries matters between the EU and the UK.