Midday Express of 2012-10-16
European Commission - MEX/12/1016 16/10/2012
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EXME 12 / 16.10
Midday Express of 2012-10-16
News from the European Commission's Midday Briefing
Nouvelles du rendez-vous de midi de la Commission européenne
85% of EU citizens believe that Europe should continue helping developing countries despite the economic crisis. The findings were announced today by European Commissioner for Development Andris Piebalgs at the European Development Days. The new Eurobarometer survey on development shows that 61% of Europeans are in favour of increasing aid to help people out of poverty. At the same time, a majority of 55% think that rapidly growing emerging countries should no longer receive aid. Most people (61%) believe that aid should focus on fragile countries which have suffered conflict or natural crises for example.
The European Commission has launched a public consultation with a view to updating the current list of relevant wholesale and retail telecoms markets subject to the Commission's "Article 7" procedure under EU telecoms rules (see MEMO/10/226). These markets include retail access to the public telephone network and wholesale broadband access. Having a list of relevant markets helps National Regulatory Authorities (NRAs) regulate their markets in a coordinated manner. The review will take into account major market and technological developments, such as internet-based applications and services, the convergence between different types of networks and services and the development of very fast internet networks and services. Based on its results, the Commission will then revise the current Recommendation on Relevant Markets which was last updated in 2007. The Commission invites interested parties to respond to the consultation by 8th January 2013.
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the German press manufacturer Schuler by the Austrian plants and equipment supplier Andritz. The Commission concluded that the transaction would not raise competition concerns, because it would not significantly alter the market structure and the merged entity would continue to face sufficient competition.
Euro area annual inflation was 2.6% in September 2012, unchanged compared with August. A year earlier the rate was 3.0%. Monthly inflation was 0.7% in September 2012. EU annual inflation was 2.7% in September 2012, unchanged compared with August. A year earlier the rate was 3.3%. Monthly inflation was 0.6% in September 2012.
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in August 2012 gave a 6.6 bn euro surplus, compared with -5.7 bn in August 2011. The July 2012 balance was +14.7 bn, compared with +2.1 bn in July 2011. In August 2012 compared with July 2012, seasonally adjusted exports rose by 3.7% and imports by 2.1%. These data are released by Eurostat, the statistical office of the European Union. The first estimate for the August 2012 extra-EU27 trade in goods balance was a 12.6 bn euro deficit, compared with -22.1 bn in August 2011. The July 2012 balance was +2.7 bn, compared with -10.9 bn in July 2011. In August 2012 compared with July 2012, seasonally adjusted exports increased by 2.9% and imports by 3.3%.
The Commission publishes rules enabling the European Securities and Markets Authority (ESMA) to impose fines on credit rating agencies (CRAs)
Commission publishes rules enabling the European Securities and Markets Authority (ESMA) to impose fines on credit rating agencies (CRAs). The European Commission today published a Delegated Regulation establishing the rules within which ESMA will operate when imposing fines on credit rating agencies when they breach EU legislation. In order to respond to the deficiencies in the credit rating sector which contributed to the financial crisis, a regulatory framework for credit rating agencies operating in the EU was established ( Regulation 1060/2009 as amended by Regulation 513/2011) and ESMA was entrusted with the supervision of credit rating agencies. The CRAs Regulation includes a full list of infringements that, if committed by a CRA, may trigger fines, e.g. conflicts of interest, obstacles to supervisory activities or non-disclosure of certain information. The text of this delegated act can be found at: http://ec.europa.eu/internal_market/securities/agencies/index_en.htm
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