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The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility will decrease to 0.05% and 0.30% respectively. The interest rate on the deposit facility will decrease to -0.20%.
A report published today by the European Court of Auditors (ECA) reveals that the EU has made a significant financial contribution to the creation of business incubator infrastructure, particularly in Member States in which this type of business support is relatively rare. However, the performance of audited incubators was modest.
Starting today, President-elect Jean-Claude Juncker will interview each Member State's candidate for Commissioner, before taking a final decision and communicating the list of Commissioners-designate to the Council of the European Union.
At the meeting the new President of the European Council and EU High Representative were appointed. EU leaders also discussed the weak economy and the situation in Ukraine, Gaza and Iraq.
The euro area (EA18) seasonally-adjusted unemployment rate was 11.5% in July 2014, stable compared with June 2014, but down from 11.9% in July 2013. The EU28 unemployment rate was 10.2% in July 2014, also stable compared with June 2014, but down from 10.9% in July 2013.
In August the Economic Sentiment Indicator (ESI) fell in the euro area (by 1.5 points to 100.6) and the EU (by 1.2 points at 104.6). The Business Climate Indicator (BCI) for the euro area remained broadly flat (at +0.16) compared to July (+0.17).
Robust customs risk management is essential to protect the safety and security of the EU and its citizens, the interests of legitimate traders and EU financial interests, while at the same time enabling the smooth flow of trade.
Euro area annual inflation was 0.4% in July 2014, down from 0.5% in June. This is the lowest annual inflation rate since October 2009. In July 2013 the rate was 1.6%. Monthly inflation was -0.7% in July 2014.
The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.15%, 0.40% and -0.10% respectively.
The Council has adopted further EU restrictive measures targeting sectoral cooperation and exchanges with the Russian Federation.
Customs authorities in the EU detained almost 36 million items suspected of violating intellectual property rights (IPR) in 2013, according to the Commission's annual report on customs actions to enforce IPR.
In July the Economic Sentiment Indicator (ESI) remained broadly stable in the euro area (+0.1 points at 102.2), while it decreased slightly in the EU (by 0.6 points to 105.8). The Business Climate Indicator (BCI) for the euro area decreased marginally by 0.04 points to +0.17.
On 29 July, the EU agreed a package of significant additional restrictive measures targeting sectoral cooperation and exchanges with the Russian Federation.
After the European Elections, the number of citizens who feel their voice counts in the EU has risen from 29% in November 2013 to 42%. This is the highest level since this question was first put into the Standard Eurobarometer a decade ago.
The General Affairs Council celebrated Lithuania's entry into the euro area. Ministers also discussed the Italian presidency work programme and the mid-term review of the Europe 2020 strategy.
The proposed target of 30 % builds on the achievements already reached: new buildings use half the energy they did in the 1980s and industry is about 19% less energy intensive than in 2001.
Meeting in the Foreign Affairs Council in Brussels, EU ministers discussed the situation in Ukraine following the downing of flight MH17 as well as further sanctions against Russia. Gaza was also discussed.
The Commissioner is calling for a wide engagement by stakeholders and city dwellers in a public consultation alongside a formal Communication just published by the European Commission.
The European Commission presents details of a new €100 million "Fast Track to Innovation" (FTI) pilot action and five innovation prizes under Horizon 2020, the European Union's €80 billion research and innovation programme.
The report covers a variety of regulatory issues: market regulation, broadband plans and financing, national regulatory rights of way and access to passive infrastructure, access and interconnection, consumer issues, universal service and net neutrality.