Daily News 25 / 06 / 2024

Daily News 25 / 06 / 2024

The European Commission to issue €65 billion in long-term EU-Bonds in the second half of 2024

The European Commission announced yesterday its intention to issue up to €65 billion of EU-Bonds in the second half of 2024 (H2). The plan for H2 2024 builds on the strong start in the first half of 2024, when close to €75 billion worth of issuances were completed. Proceeds from EU-Bonds will finance disbursements under the NextGenerationEU and other policy programmes such as the Ukraine Facility, the Reform and Growth Facility for the Western Balkans and Macro Financial Assistance programmes.

The funding plans for the second half of the year will bring the 2024 total EU issuances to up to €140 billion (+ €20 billion compared to the 2023 funding target). EU-Bonds issuances in 2025 and 2026 are expected to continue to increase to €150– €160 billion per year to finance the wider range of EU policy programmes. In line with the Commission's established practice, issuances will take place under the unified funding approach with target issuance volumes communicated through the semi-annual funding plans as the policy needs crystallise.

The Commission will continue to finance the green component of the Recovery and Resilience Facility through its NextGenerationEU Green Bonds, which currently stands at €60 billion. Issuances will remain firmly anchored to climate-relevant expenditures reported by Member States, in accordance with the NextGenerationEU Green Bond Framework.

The Commission borrows on international capital markets on behalf of the EU and disburses the funds to Member States and third countries under various borrowing programmes. EU borrowing is guaranteed by the EU budget, and contributions to the EU budget are an unconditional legal obligation of all Member States under the EU Treaties.

A press release is available online.

(For more information: Olof Gill - Tel.: +32 2 296 59 66; Veronica Favalli – Tel.: +32 2 298 72 69)

Council approves EU signature of convention on transparency for dispute settlement between investors and states under investment treaties

The Council of the EU has adopted today a decision on the signature of the United Nations ‘Mauritius' Convention on transparency for Investor-State Dispute Settlement (ISDS), also known as the ‘Mauritius Convention'. This marks a critical step towards greater public access to documents and hearings, as well as the inclusion of civil society in the arbitration process, increasing transparency in disputes brought by investors against States under investment treaties.

Increasing transparency of ISDS is a shared objective both internationally and within the EU. Approximately 1200 agreements involving EU Member States fall under the scope of the Convention, as well as the Energy Charter Treaty (‘ECT') at EU level.

Ratifying the ‘Mauritius' Convention is a first step towards the broader reform of investment dispute settlement led by the EU and its Member States, within the framework of the United Nations Commission for International Trade Law. The EU will now formally sign the Convention. The ratification by the EU will then follow, after the approval of the European Parliament. Once the EU signs and concludes the Convention, Member States can proceed with national ratification.

More information is available online.

(For more information: Olof Gill – Tel.: +32 2 296 59 66; Ana Apse-Paese – Tel.: +32 2 298 73 48)

Les exportations agroalimentaires de l'UE continuent de croître régulièrement au premier trimestre 2024

Le dernier rapport mensuel, publié aujourd'hui, concernant les échanges agroalimentaires, montre qu'en mars 2024, l'excédent des échanges agroalimentaires de l'UE a atteint 6,7 milliards d'euros, soit une hausse de 8% par rapport au mois précédent, et de 3% par rapport à mars 2023.

Les exportations agroalimentaires de l'UE ont atteint 20,1 milliards d'euros en mars 2024, marquant une hausse de 4% en glissement mensuel. Le Royaume-Uni est resté la première destination des exportations agroalimentaires de l'UE, représentant 22% de la valeur des exportations de l'UE. Au premier trimestre 2024, les États-Unis ont connu la plus forte augmentation d'exportations de l'UE avec une hausse de 6 % (372 millions d'euros), tandis que la Chine, malgré une réduction de valeur de 12 %, est restée la troisième destination. En termes de produits exportés, les exportations de l'UE d'olives et d'huile d'olive ont connu la plus forte augmentation par rapport à 2023 (+615 millions d'euros, +51%) en raison de prix plus élevés, malgré une légère baisse des volumes.

Les importations agroalimentaires de l'UE ont atteint 13,5 milliards d'euros en mars, soit une hausse de 2 % par rapport au mois précédent, mais une baisse de 10 % par rapport à mars 2023, principalement en raison de la réduction des volumes importés. Le Brésil, le Royaume-Uni et l'Ukraine ont été les principales sources d'importations en 2024, jusqu'à présent. Toutefois, les importations en provenance de ces pays ont diminué par rapport à 2023, en raison de la baisse des volumes et des prix des importations de céréales. En termes de produits importés, par rapport à 2023, les importations ont augmenté pour le café, le thé, le cacao et les épices (+849 millions d'euros, +16%), les fruits et les noix (+421 millions d'euros, +8%), les olives et l'huile d'olive (+324 millions d'euros, +160%).

De plus amples détails sont disponibles en ligne.

(Pour plus d'informations: Olof Gill – Tél.: +32 2 296 59 66; Thérèse Lerebours – Tél.: +32 2 296 33 03)

Commission endorses Finland's request for a targeted revision of its recovery plan

Today, the Commission endorsed Finland's request for a targeted revision of its recovery and resilience plan, which Finland had submitted to the Commission on 16 May 2024. The proposed amendments are technical in nature and follow the comprehensive revision of the Finnish plan, which was adopted by the Council on 8 December 2023.

The Finnish recovery and resilience plan consists of €1.95 billion in grants. It includes 143 milestones and targets, 19 reforms and 40 investments.

To date, the Commission has disbursed around 26% of the funds allocated to Finland under the Recovery and Resilience Facility, i.e. €498 million, which includes pre-financing. More information on the Finnish recovery and resilience plan can be found here.

An interactive map providing examples of reforms and investments supported by the Recovery and Resilience Facility is available online. More information on the revision process of the recovery and resilience plans can be found here.

(For more information: Veerle Nuyts — Tel.: + 32 229-96302; Quentin Cortès – Tel.: +32 460 76 10 03)

La Commission européenne progresse vers la levée de la suspension des paiements de 714 millions d'euros pour le Portugal et de 37,2 millions d'euros pour la Roumanie dans le cadre de la Facilité pour la reprise et la résilience.

Hier, la Commission européenne a pris une décision préliminaire favorable à la levée de la suspension du paiement de 714 millions d'euros au Portugal, et de 37,2 millions d'euros à la Roumanie (hors préfinancement) après avoir reconnu les avancées dans la mise en œuvre de leurs plans de relance respectifs.

Ces décisions font suite à des suspensions antérieures ; la Commission ayant en effet estimé que certains objectifs et jalons n'avaient pas été atteints dans les troisième et quatrième demandes de paiement du Portugal, et dans la deuxième demande de paiement de la Roumanie.

Après ces suspensions initiales, la Roumanie et le Portugal ont été encouragés à prendre des mesures sur une période de six mois. Le mécanisme de suspension a permis à ces derniers de recevoir un paiement partiel pour les jalons et cibles qui avaient été mis en œuvre de manière satisfaisante, tout en leur accordant un délai supplémentaire pour remplir les objectifs non atteints.

La Commission a désormais constaté que le Portugal a pris les mesures nécessaires dans le secteur de la santé et des professions réglementés, pour satisfaire à l'ensemble des jalons et cible en suspens dans les troisième et quatrième demandes de paiement. La Roumanie, quant à elle, a pris les mesures nécessaires dans le domaine de l'énergie pour atteindre une partie des jalons en suspens dans la deuxième demande de paiement.

Plus de détails sur ces décisions sont disponibles dans notre communiqué de presse.

(Pour plus d'informations : Veerle Nuyts — Tél. : +32 229-96302 ; Quentin Cortès – Tél. : +32 460 76 10 03)

Commission sends Statement of Objections to Microsoft over possibly abusive tying practices regarding Teams

The European Commission has informed Microsoft of its preliminary view that Microsoft has breached EU antitrust rules by tying its communication and collaboration product Teams to its popular productivity applications included in its suites for businesses Office 365 and Microsoft 365.

Suppliers of business application software, including Microsoft, are increasingly distributing this software as software as a service (‘SaaS'), i.e., software hosted on cloud infrastructure of the supplier's choice. The Commission preliminarily finds that Microsoft is dominant worldwide in the market for SaaS productivity applications for professional use.

The Commission is concerned that, since at least April 2019, Microsoft has been tying Teams with its core SaaS productivity applications, thereby restricting competition on the market for communication and collaboration products and defending its market position in productivity software and its suites-centric model from competing suppliers of individual software.

If confirmed, these practices would infringe Article 102 of the Treaty on the Functioning of the European Union (‘TFEU'), which prohibits the abuse of a dominant market position. The sending of a Statement of Objections does not prejudge the outcome of an investigation.

Executive Vice-President Margrethe Vestager, in charge of competition policy said: "We are concerned that Microsoft may be giving its own communication product Teams an undue advantage over competitors, by tying it to its popular productivity suites for businesses. And preserving competition for remote communication and collaboration tools is essential as it also fosters innovation on these markets. If confirmed, Microsoft's conduct would be illegal under our competition rules. Microsoft now has the opportunity to reply to our concerns."

A press release is available online.

(For more information: Lea Zuber – Tel.: +32 2 295 62 98; Sara Simonini - Tel.: +32 2 298 33 67)

Commission approves amendments to Italian State aid scheme to support companies in Southern Italy in the context of Russia's war against Ukraine

The European Commission has approved amendments to an existing Italian scheme supporting companies active in Southern Italy in the context of Russia's war against Ukraine. The amended scheme was approved under the State aid Temporary Crisis and Transition Framework (‘TCTF'), adopted by the Commission on 9 March 2023, as amended on 20 November 2023 and on 2 May 2024.

The Commission approved the original scheme in June 2022 (SA.103289), and amendments to it in December 2022 (SA.104962) and December 2023 (SA.110596). Under the scheme, the aid takes the form of a 30% reduction of the social security contributions due by private employers active in Southern regions of Italy (Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia and Sicily) that are affected by the socio-economic consequences resulting from Russia's war against Ukraine.

Italy notified the following modifications to the existing scheme: (i) a budget increase by €2.9 billion, bringing the overall budget from €11.4 billion to €14.3 billion; and (ii) an extension of the period, to which the reduction of the social security contribution applies, until 31 December 2024.

The Commission found that the Italian scheme, as amended, remains necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU, and continues to be in line with the conditions set out in the TCTF. In particular, the aid will be (i) based on an estimated budget, and (ii) granted no later than 30 June 2024. On this basis, the Commission approved the amendments to the scheme under EU State aid rules.

More information on the TCTF and other actions taken by the Commission to address the economic impact of Russia's war against Ukraine can be found here. The non-confidential version of the decision will be made available under the number SA.114616 in the State aid register on the Commission's competition website once any confidentiality issues have been resolved.

(For more information: Lea Zuber – Tel.: +32 2 295 62 98; Nina Ferreira - Tel.: +32 2 299 81 63)

Commission clears acquisition of Advanz Pharma by Nordic Capital and OTPP

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Advanz Pharma by Nordic Capital, both of Jersey, and by Ontario Teachers' Pension Plan Board (‘OTPP') of Canada.

The transaction relates primarily to the supply of pharmaceutical products.

The Commission concluded that the notified transaction would not raise competition concerns, given that the companies are not active in the same or vertically related markets. The notified transaction was examined under the simplified merger review procedure.

More information is available on the Commission's competition website, in the public case register under the case number M.11512.

(For more information: Lea Zuber – Tel.: +32 2 295 62 98; Sara Simonini - Tel.: +32 2 298 33 67)

ANNOUNCEMENTS

La commissaire Johansson se rend en Serbie pour signer l'accord de statut Frontex amélioré sur la gestion des migrations et la lutte contre la criminalité transfrontalière

Aujourd'hui, la commissaire aux affaires intérieures, Ylva Johansson, sera à Belgrade pour rencontrer le président de la République de Serbie, Aleksandar Vučić, afin de discuter de la coopération actuelle de l'UE avec la Serbie en matière de migration et de gestion des frontières, y compris la mise en œuvre du plan d'action de l'UE pour les Balkans occidentaux. La commissaire rencontrera également le Premier ministre, Miloš Vučević, le vice-Premier ministre et ministre de l'intérieur, Ivica Dačić, et la ministre de l'intégration européenne, Tanja Miščević.

Au cours de sa visite, avec le vice-premier ministre et ministre de l'intérieur serbe Ivica Dačić, la commissaire Johansson signera l'accord amélioré sur la coopération opérationnelle en matière de gestion des frontières avec l'Agence européenne de garde-frontières et de garde-côtes (Frontex), un nouvel accord sur le statut entre l'UE et la Serbie. Ce nouvel accord renforcera les capacités de gestion des frontières de la Serbie tout en permettant des déploiements et un soutien supplémentaires de Frontex sur l'ensemble du territoire serbe, y compris aux frontières avec les partenaires des Balkans occidentaux non-membres de l'UE. La signature finalise les négociations qui ont commencé en mai 2023 et permet de mettre à jour le cadre actuel en application depuis mai 2021. La vidéo de la signature sera disponible sur EbS.

La commissaire Johansson assistera également à un événement au cours duquel sera livré du matériel de gestion des frontières dans le cadre d'un projet financé par l'UE et consacré à la surveillance des frontières au titre de l'instrument d'aide de préadhésion (IAP) - Mesure individuelle visant à renforcer les capacités de gestion des frontières en faveur des Balkans occidentaux. Ce projet permettra de livrer des équipements (56 véhicules de patrouille, des systèmes de surveillance électroniques et mobiles) dans les mois à venir, ce qui constitue une nouvelle étape dans l'engagement de la Commission à soutenir les activités opérationnelles serbes en matière de gestion des frontières. La commissaire discutera également avec la Serbie des progrès réalisés dans le domaine de l'État de droit, dans le cadre du processus d'adhésion à l'UE.

Pour plus d'informations, voir le communiqué de presse ici.

(Pour plus d'informations : Christian Wigand – Tél.: +32 2 296 22 53; Fiorella Boigner – Tél.: +32 2 299 37 34)

High Representative Borrell convenes a High-Level Meeting of the Belgrade-Pristina Dialogue in Brussels to discuss next steps on the path to normalisation

Tomorrow, High Representative/Vice President Josep Borrell will host a High-Level Meeting of the Belgrade-Pristina Dialogue in Brussels.

President of Serbia Aleksandar Vučić and Prime Minister of Kosovo Albin Kurti have confirmed their participation.

The High Representative and the EU Special Representative for the Belgrade-Pristina Dialogue and other Western Balkan regional issues, Miroslav Lajčák, will hold separate meetings with the leaders as of 15:00 CEST, followed by a joint trilateral meeting. The meetings will take stock of what has been achieved in the Dialogue under the leadership of the High Representative and focus on the way forward.

There will be statements to the media by the High Representative ahead and at the end of the meetings in the building of the European External Action Service. These will be transmitted live on EbS.

To register for the press statements, journalists can send an email to these contacts by Wednesday, 26 June, 12:00 CEST, with the following information: full name, media, nationality, ID/passport number.

(For more information: Peter Stano — Tel.: +32 2 295 45 53; Piotr Cichocki – Tel.: +32 229-58445)

Tentative agendas for forthcoming Commission meetings

Note that these items can be subject to changes.

Upcoming events of the European Commission

Eurostat press releases