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The Commission has set out plans to ease custom formalities for ships – reducing red tape, cutting delays in ports and making the sector more competitive.
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 0.50%, 1.00% and 0.00% respectively.
Parliament endorsed the outcome of its negotiations with the Council on the EU's long-run budget, the Multiannual Financial Framework (MFF) for 2014-2020.
Small investors should be better protected against investment funds that take excessive or unnecessary risks with their money, thanks to a draft law approved by a show of hands. The law clarifies who is liable for mismanagement of funds and tailors fund managers' remuneration rules to encourage them to take reasonable risks and a long-run view.
In June the Economic Sentiment Indicator (ESI) improved markedly, continuing last month's increase. Sentiment increased by 1.8 points in both the euro area (to 91.3) and the EU (to 92.6). The Business Climate Indicator (BCI) for the euro area increased by 0.07 points to ‑0.68.
The Council set out its position on a draft framework for bank recovery and resolution with a view to negotiations with the European Parliament. The Council also approved draft amending budget no. 1 for 2013 providing the EU's 2013 budget with the necessary resources for the accession of Croatia to the EU on 1 July.
The Council has reached political agreement on a package of measures aimed at combating VAT fraud more effectively.
The new rules aim to reduce over-reliance on credit ratings while at the same time improving the quality of the rating process. Credit rating agencies will have to be more transparent when rating sovereign states.
Euro area annual inflation was 1.4% in May 2013, up from 1.2% in April. A year earlier the rate was 2.4%. Monthly inflation was 0.1% in May 2013.
Under the proposal, dividends, capital gains, all other forms of financial income and account balances, would be added to the list of categories which are subject to automatic information exchange within the EU.
The European Commission puts forward an action plan for the European Steel Industry to help this sector confront today’s challenges and lay the foundations for future competitiveness by fostering innovation, creating growth and jobs.