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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.
Member States must step up their work to prevent, detect and report fraud affecting EU funds, according to the Commission's annual report on the protection of financial interests (PIF report).
The European Council met to discuss a number of key appointments to be made for top EU positions. They also discussed new sanctions on Russia and the situation in Gaza.
With 422 votes in favour, the European Parliament elected Jean-Claude Juncker in a secret ballot as President of the new European Commission to take office on 1 November 2014 for a five year term. The minimum number of votes required was 376.
The European Commission has adopted a communication encouraging Member States to look for ways to improve protection of small food producers and retailers against the unfair practices of their sometimes much stronger trading partners.
Meeting in Brussels, ministers discussed a proposal to review EU rules on organic production and farming and a communication preparing the ground for new EU fishing quotas for 2015.
The European Commission has adopted a Recommendation on online gambling services. It encourages Member States to pursue a high level of protection for consumers, players and minors through the adoption of principles for online gambling services and for responsible advertising and sponsorship of those services.
The European Commission launches its “Connected Communities” initiative – an umbrella for several systems designed to connect towns, cities, local broadband partnerships and operators to the advice they need to access finance and develop tailored business models.