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The Commission presented its proposal to strengthen the role of the European Banking Authority (EBA) in supervising EU financial institutions, so as to better address money laundering and terrorist financing threats.
Greece has successfully concluded a three year European Stability Mechanism (ESM) stability support programme with its place at the heart of the euro area and European Union secured.
The European Fund for Strategic Investments (EFSI) has mobilised €335 billion in additional investment across the EU since July 2015. The Juncker Plan has made a clear impact on the EU economy and revolutionised the way innovation is financed in Europe.
The Council issued its 2018 recommendations and opinions to member states' on their economic, employment and fiscal policies, thereby concluding this year's European Semester exercise.
Growth is set to remain strong in 2018 and 2019, at 2.1% this year and 2% next year in both the EU and the euro area. However, after five consecutive quarters of vigorous expansion, the economic momentum moderated in the first half of 2018 and is now set to be 0.2 percentage points lower in both the EU and the euro area than had been projected in the spring.
The Commission has adopted a decision to activate the enhanced surveillance framework for Greece to support the implementation of agreed reforms following the successful conclusion of the European Stability Mechanism (ESM) stability support programme.
Next year’s EU budget should focus on young people, say MEPs in a resolution. Other priorities are growth, security, fighting climate change and migration.
The Council closed the excessive deficit procedure for France, confirming that its deficit has dropped below the EU's 3% of GDP reference value. As a consequence, 23 of the 24 procedures that were open at the height of the euro crisis have now been closed.
Eurozone finance ministers agreed the surveillance framework that will apply after the end of Greece's economic adjustment programme, the size of the final tranche of financial support, debt measures and fiscal targets.
For the next long-term EU budget 2021-2027, the Commission is proposing measures to make tax and customs cooperation between Member States better and more efficient.
For the next long-term EU budget 2021-2027, the Commission is proposing €100 billion for research and innovation. A new programme – Horizon Europe – will build on the achievements and success of the previous research and innovation programme (Horizon 2020) and keep the EU at the forefront of global research and innovation.
For the next long-term EU budget 2021-2027, the Commission proposes to create the InvestEU Programme, bringing EU budget financing in the form of loans and guarantees under one roof.
Both proposals are part of the broader agenda to deepen Europe's Economic and Monetary Union and make use of the EU budget to strengthen the performance and resilience of our interdependent economies.
For the next long-term EU budget 2021-2027, the European Commission is proposing to increase funding for Creative Europe, the programme supporting European cultural and creative sectors and audiovisual works, to €1.85 billion.