Light at the end of the tunnel?
“Typical EU” is the phrase that comes to mind looking back at the latest summit of heads of state or government. Typical because, with their backs against the wall, they managed to reach important agreements on refugee and immigration policy – albeit under the heading of “lowest common denominator”. Typical also because this protracted agreement – as so often – was achieved at the cost of other policy issues for which there was simply no time left even for discussion, let alone decisions. Nevertheless, with their Meseburg Declaration, Paris and Berlin did find a few – if in some cases very vague – joint answers to reform of the Economic and Monetary Union, the Eurozone and the Banking Union. They met opposition from other quarters, however, with the loudest voices coming from the Netherlands. No sign of light at the end of the tunnel there then. The Greek bailout was a different story. Following payment of the final € 15 billion credit tranche, the third aid programme is at an end. Keep in mind, however, that, in view of the unprecedented level of debt relief and the associated constraints and regular scrutiny, here at cep, we regard this as a fourth rescue package for Athens! |
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The EU Commission wants to promote the uptake of zero-emission and low-emission cars, lorries and buses by way of strict rules on public procurement. For this the Directive on the promotion of clean and energy-efficient road transport vehicles is to be amended.
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The EU Commission has revised the Drinking Water Directive: In future, in addition to bringing limits on pollutants into line with the latest scientific knowledge, a “risk-based approach” will ensure that threats to the drinking-water supply are recognised early. In addition, Member States must improve access to drinking water.
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| Technical Support for Structural Reforms |
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The EU Commission wants to support structural reforms in the Member States in order to strengthen their macroeconomic resilience in the event of crises. The Commission intends to stabilise the euro area and to support euro-area candidate countries with introduction of the euro. For this purpose, a realignment and an increase in funds for the “Structural Reform Support Programme” is proposed.
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| Cybersecurity – Part 2: Certification |
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| The EU Commission wants to set up a European cybersecurity certification scheme (ECCS) in order to increase confidence in products and services in the information and communication technology (ICT) sector. In the light of increasing cybersecurity risks and attacks, it has therefore submitted the proposal for a Regulation.
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“If every country were only to consider its own interests, the EU would be at an end.”
Antonio Tajani, President of the EU Parliament |
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“Further development of the ESM, which in future will also be granting loans to cushion asymmetric shocks, reduces the individual responsibility of eurozone countries. The incentive to prepare for such shocks by way of sound economic and fiscal policy will diminish.”
Prof. Lüder Gerken, President of cep |
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“A stabilisation function for the eurozone is not just unnecessary, it is also dangerous.”
Dr. Matthias Kullas, Division Head at cep |
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"EU-wide regulations for drones increase air traffic safety and enable growth and employment in a still young sector."
Dr. Götz Reichert, Division Head at cep |
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Facts
According to the Bank of England, average annual income is down by £ 900 due to the Brexit vote. |
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