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Global Financial Crisis: US, Spain Bail Out Banks

added: 09-10-2008

The UK Government is to offer more than $A1.2 trillion in loans and guarantees in an effort to support the country's tottering banking sector.

EU Emission Trading Scheme: Use Permit Revenues To Fund Climate Change Protection

added: 09-10-2008

Voting Tuesday on the revision of the EU's Emission Trading System, the Environment Committee backed Commission plans to reduce greenhouse gas (GHG) emissions from most industrial sectors by 21% from 2005 levels by 2020 and phase out free emission permits, leading to full auctioning, with an exception for energy-intensive sectors. MEPs want permit auction revenues to be used for climate change protection measures.

A Billion Euro For The EU Food Crisis?

added: 09-10-2008

The Development Committee has reaffirmed its support on Tuesday for using budget surpluses - unused appropriations - in the EU's agriculture budget to help counter the food crisis in developing countries. 35 priority countries should benefit from this support.

Equipping Power Plants To Store CO2 Underground

added: 09-10-2008

The Environment Committee wants all larger power stations built from 2015 onwards to be equipped with the new carbon capture and storage technology (CCS), which stores CO2 emissions permanently underground instead of releasing it into the atmosphere, it said in a co-decision vote on Tuesday. MEPs had already proposed financing demonstration projects through the revised Emission Trading Scheme, in another vote on Tuesday morning.

The Agriculture Committee: Consensus In Milk Producers Case

added: 09-10-2008

A much smaller reduction in support for farmers than proposed by the European Commission, an increase of just 1 per cent in milk quotas over two years, the option for Member States to provide extra help for milk producers and livestock farmers, keeping the link between subsidies and production and retaining intervention schemes for sensitive sectors: these are the main points of the Agriculture Committee's vote on the CAP "Health Check" on Tuesday.

Building A Genuine And Transparent EU Arms Market

added: 09-10-2008

The European Union should create a genuine single market for defence equipment. This is the aim of two proposed directives amended by the Internal Market Committee on Tuesday. MEPs' changes aim to make defence procurement, still essentially a national business, more transparent and more European, and to facilitate intra-Community trade in defence-related equipment.

CEA Welcomes European Parliament committee Vote on Solvency II

added: 09-10-2008

The CEA, the European insurance and reinsurance federation, has welcomed today's vote in the Economic and Monetary Affairs Committee of the European Parliament on the Solvency II Framework Directive.

Euro Area GDP Down by 0.2% and EU27 GDP Stable

added: 09-10-2008

Euro area (EA15) GDP declined by 0.2% and EU27 GDP was unchanged in the second quarter of 2008 compared with the previous quarter, according to second estimates from Eurostat, the Statistical Office of the European Communities. In the first quarter of 2008, growth rates were +0.7% in the euro area and +0.6% in the EU27.

First Priority is to Restore Confidence Say European Banks

added: 09-10-2008

On the occasion of the Ecofin meeting, the European Banking Federation reiterated its call for increased cooperation and further coordinated action among Member States in order to help settle financial markets and calm the current financial crisis.

Better Financial Supervision Of The European Insurance Industry

added: 08-10-2008

The Economic and Monetary Affairs Committee backed plans for a major overhaul of the supervisory framework that enhances the financial stability of the insurance industry on Tuesday when it adopted its first-reading position on the Solvency II directive. MEPs voted to make significant changes to the Commission’s proposal in areas such as group supervision and the calculation of capital requirements.

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