EXME 12 / 05.07
Midday Express of 2012-07-05
News from the European Commission's Midday Briefing
Nouvelles du rendez-vous de midi de la Commission européenne
President Barroso visits Israel and the occupied Palestinian territory 7-10 July 2012
The President's visit to Israel and to the Occupied Palestinian Territory is a testimony to the importance the Commission attaches to the relations with these important members of our Southern Neighbourhood. It will also be an opportunity to express the EU's longstanding commitment to a negotiated solution for the Middle East Peace Process that guarantees a just and lasting settlement of the conflict. The visit will also offer an occasion to discuss with both Israeli and Palestinian leaders the situation in the region, notably the transitions taking place in the Arab world, the situation in Syria and Iran. Israel is a close partner with which we have important political relations based on shared values and intense economic, social, cultural and scientific links. Moreover the EU is Israel's leading trade partner with total volume of trade amounting to 29.4 billion Euros in 2011. The EU also has close relations with the Palestinian Authority and has been firmly supporting the Palestinian state-building process. The EU - European Commission and Member States - is the largest donor to the Palestinian Authority contributing with over half of total international financial assistance. On Sunday 8 July President Barroso will be visiting the occupied Palestinian territory and will be holding meetings with President Abbas and Prime Minister Fayyad. On Monday, 9 July, President Barroso will meet Prime Minister Binyamin Netanyahu and the Speaker of the Knesset MK Reuven Rivlin and will participate in an official dinner hosted by President Shimon Peres. President Barroso will also pay visits to Yad Vashem and to the Israel Museum. On Tuesday, 10 July, President Barroso will receive an honorary doctorate from the University of Haifa and will deliver a keynote speech.
The European Commission has today adopted a Delegated Act which sets out important technical rules needed to ensure the uniform application and enforcement of the Short Selling Regulation1. In particular, the delegated act specifies the cases in which sovereign credit default swaps are considered covered, and therefore not banned in accordance with the Regulation. Investors can demonstrate that the sovereign credit default swap contracts they have entered into are covered by demonstrating either a quantitative or a qualitative correlation between the hedged assets and liabilities and the sovereign credit default swap. Other issues addressed in the Act include technical rules relating to the reporting of short positions in shares and sovereign debt, and the thresholds which can trigger a short term suspension of short selling in illiquid shares and other financial instruments. A related regulatory technical standard on short selling was also adopted by the Commission today, based on a draft submitted by the European Securities and Markets Authority (ESMA).
A project that will register mandatory children born in eight countries across Africa, Asia and the Pacific; ensuring that millions more people can enjoy access to healthcare, attend school and vote in elections for the first time as a result, was today announced by Development Commissioner, Andris Piebalgs.
The European Commission has cleared under the EU Merger Regulation the proposed creation of a joint-venture between the French and Swiss postal incumbents La Poste and Swiss Post to carry out most of their current activities in the area of international mail delivery services. The decision is conditional upon the divestiture of the subsidiary of Swiss Post in France. The Commission had concerns that the transaction, as initially notified, might have reinforced La Poste's dominance on the French market. In light of the commitments offered by the parties, the Commission concluded that the transaction would not raise competition concerns.
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of British animal feed producer Agricola, the holding company of BOCM Pauls, by the Dutch agricultural commodities and feed producer Forfarmers. The Commission found that the transaction would not raise competition concerns because of the limited increment in market share resulting from the acquisition and the presence of sufficient competitors on the markets concerned.
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