09May 2024 by Maja Bartczak

EU Friday – 9 May

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. WHEN EVERYTHING IS URGENT, NOTHING IS What do shooting wolves, reducing penalties for excessive car emissions, and delaying bank regulation have in common? Well, all three initiatives were on Parliament's plenary agenda in Strasbourg this week, and all three made it through in record speed thanks to the urgent procedure, which allows Parliament to move fast on a Commission proposal when there are "unforeseen developments". In a space of three days, MEPs agreed to use the urgent procedure and waive their right to amend these three legislative initiatives. Because no one could foresee that a wolf would kill a Very Important Pony in Germany three years ago, that a war on European soil would start nine years ago and intensify three…

02May 2024 by Maja Bartczak

EU Friday – 2 May

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. ECB VP: DIGITAL EURO ESSENTIAL FOR EU AUTONOMY It’s an excellent time to push for the EU’s role as a global currency, ECB Vice President Luis de Guindos told MEPs this week. The central banker sees growing threats to Europe’s financial autonomy, so Europe should deepen capital markets, complete the banking union and unify the internal market. And, “with a more integrated approach, the euro can play a bigger role globally”. His remarks come as investors are fleeing the dollar and turning to eurozone assets, a shift that could strengthen the EU’s position as a global safe haven. De Guindos also warned that dependence on U.S. payment systems and dollar-backed stable coins risks undermining Europe’s financial sovereignty. In his view, the…

25Apr 2024 by Maja Bartczak

EU Friday – 25 April

EU Academy

Welcome to Better Europe's weekly update on EU Affairs. SÉJOURNÉ SELLS RED TAPE SIMPLIFICATION, WARBORN WANTS EVEN MORE A Parliament Legal Affairs Committee meeting turned into a regulatory battlefield this week, as Commission Executive Vice President Stéphane Séjourné pitched the ‘Omnibus’ proposal for simpler (read: deregulated) rules. However, Jörgen Warborn (EPP, Sweden), the MEP responsible for the file, argued that it doesn’t go far enough. Séjourné presented the Omnibus I package as a lifeline for EU businesses drowning in complexity. The goal? Trim legal fat, not slash standards. He promised digitalized procedures, clearer rules for SMEs, and more predictable policymaking, especially regarding sustainability, investment, and the single market. But Warborn wasn't convinced. Presenting his initial ideas, he welcomed the Commission proposal as "a good start," yet pressed for deeper cuts.…

18Apr 2024 by Maja Bartczak

EU Friday – 18 April

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. GREEN ON PAPER: CAN TAX BREAKS REALLY DRIVE SUSTAINABILITY? It's already been seven months since the Draghi report highlighted the crucial intersection between financing the green transition and maintaining competitiveness – and these issues are still very much on the table. As Brussels continues its deregulatory frenzy, with Omnibuses piling up across sectors, the questions raised by the Draghi report are more relevant than ever. Next week, the Parliament’s FISC subcommittee will hold a public hearing to explore whether tax incentives for clean energy can truly support the green transition. While the Draghi report suggested that these fiscal measures could help align these sectors with sustainability goals, the hearing will discuss whether they're enough to ensure real progress, or if they're…

11Apr 2024 by Maja Bartczak

EU Friday – 11 April

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. EU PRIVACY RULES AT STAKE WITH NEW COMMISSION AI ACTION PLAN This week, Commission Presidents Ursula von der Leyen unveiled the AI Continent Action Plan, to position Europe as a leader in artificial intelligence. The plan aims to strengthen infrastructure, improve access to data, promote cloud solutions, build skills, and simplify regulations. Wait, where have we heard that before? The focus on simplification comes within a broader context of regulatory relief, particularly with the potential threat of a future Omnibus tackling the GDPR, the EU’s landmark privacy regulation. While the Commission claims that reducing regulatory burden could spur innovation, it raises concerns that this will come at the expense of Europe's strong data protection standards. Moreover, the plan's emphasis on infrastructure…

04Apr 2024 by Maja Bartczak

EU Friday – 4 April

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. MINISTERS WANT LESS RED TAPE ON DIGITAL RULES DESPITE PRIVACY RISKS A new coalition of 14 digital ministers, the D9+ group, is pushing for a tech-savvy, competitive Europe. However, their latest declaration, signed in Amsterdam on 27 March, not only champions innovation but also the reduction of regulatory burden, which they argue are stifling businesses, especially SMEs. They're calling for a strategic EU approach to digital sovereignty, with a focus on AI, cloud computing and semiconductors, while advocating for a streamlined regulatory framework. This effort is part of a broader European Commission initiative, led by Commissioner Michael McGrath, to simplify and deregulate the EU's regulatory landscape. The GDPR revision, which is expected soon as part of a new Omnibus, aims to…

28Mar 2024 by Joost Mulder

EU Friday – 28 March

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. EU STOPS THE CLOCK ON SUSTAINABLE BUSINESS LAWS Good news – EU Member State representatives indicated their governments agree to the "stop-the-clock" proposal to postpone sustainability reporting for two years, a message that Europe's large companies have been desperately wanting to hear. The decision will save them a lot of resources that can be reinvested into competitiveness, which is desperately needed in view of sudden geopolitical winds of change. And even better news is that the rules on due diligence will also be postponed by one year, which should give a breath of relief of companies that are busy to survive and therefore not able to dedicate time and resources to checking their supply chains. After all, there is nothing wrong…

21Mar 2024 by Maja Bartczak

EU Friday – 21 March

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. FROM SEGRE TO SEJOURNE: SIXTY YEARS OF SIU Uniting Europe's capital markets. Sounds easy, turns out to be actually quite difficult. Almost sixty years ago, the EU published professor Claudio Segré's report on "the development of a European capital market" explaining why Europe's capital markets lacked integration. The reasons? Lack of a single currency, of course. But also: "disparities" in the supervision of financial institutions and tax obstacles. Fast forward sixty years later, after the attempts by Mario Monti in 1999 (Financial Services Action Plan) and Jonathan Hill in 2015 (Capital Markets Union) – again, the EU plans to address supervision and tax issues, with its rebranded Savings and Investment Union presented this week. No wonder some call it old wine…

14Mar 2024 by Maja Bartczak

EU Friday – 14 March

EU Friday

Welcome to Better Europe's weekly update on EU Affairs. DIGITAL EURO RUNNING OUT OF CREDIT The ECB's digital euro project was already facing challenges, but last month's significant payment system outage has raised even more concerns. At the end of February, the ECB's TARGET 2 system that settles payments between banks suffered a major breakdown for a day. The outage, caused by an initial misdiagnosis of the problem, raised alarms about the central bank's ability to manage a complex, high-stakes digital currency. As MEP Markus Ferber put it: “this is a blow to the credibility of the ECB”. Others, such as Green MEP Rasmus Andresen, stressed that rebuilding trust is key – or the project could collapse before it even gets off the ground. Even digital euro fanboy MEP Jussi…

07Mar 2024 by Joost Mulder

EU 2024: Half-way there, the sprint begins

Opinion, Views

There are three months left before this year’s EU elections on 6 to 9 June. By the end of March, a complete list of Spitzenkandidaten for the top European Commission job should be finalised. Since January, the pace of weekly political and legislative developments in Brussels has not slowed down. Previously contested laws such as the Nature Restoration law have been finalised, while others including the Corporate Sustainability Due Diligence Directive have been held hostage. The last two-month sprint begins before the last Plenary session of the current Parliament on 22 to 25 April. No slowing down In the course of February and the beginning of March, almost all European groups, that recognise the Spitzenkandidaten process, have put forward their candidates for the role of the next European Commission president.…