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European Commission Spokesman's Briefing for 04-03-01

Midday Express: News from the EU Commission Spokesman's Briefings Directory - Previous Article - Next Article

From: EUROPA, the European Commission Server at <http://europa.eu.int>


CONTENTS / CONTENU

  • [01] Electronic payments : Commission seeks views on single European telephone number to report lost and stolen cards
  • [02] US Foreign Sales Corporations (FSC) : EU starts countermeasures on US products
  • [03] EU-US sign Mutual Recognition Agreement on Marine Equipment
  • [04] October-December 2003 : quarterly note on the euro-denominated bond markets
  • [05] January 2004 : monthly note on the euro-denominated bond markets
  • [06] Autre matériel diffusé Midday Express 01/03/2004 TXT: FR ENPDF:DOC:Midday Express 01/03/2004

  • [01] Electronic payments : Commission seeks views on single European telephone number to report lost and stolen cards

    The European Commission has launched a public on-line consultation on the possible establishment of an EU-wide system for cancelling lost and stolen credit and payment cards ("Card Stop Europe"). Such a service would be based on a single easy-to-remember phone number. Comments are invited until 30th April 2004.

    [02] US Foreign Sales Corporations (FSC) : EU starts countermeasures on US products

    The EU countermeasures on a list of US products in the long-standing WTO dispute on the US Foreign Sales Corporations enter into force today 1 March 2004. Countermeasures on the selected products consist of an additional customs duty of 5% to be enforced as from today, followed by automatic, monthly increases by 1% up to a ceiling of 17% to be reached on 1 March 2005, if compliance has not happened in-between.

    [03] EU-US sign Mutual Recognition Agreement on Marine Equipment

    On 27 February, European Trade Commissioner Pascal Lamy, United States Trade Representative Robert B. Zoellick and Ireland's Ambassador to the US Noel Fahey have signed a mutual recognition agreement (MRA) on marine equipment between the EU and the US. The agreement will facilitate trade in this sector: equipment certified as acceptable for the market of one party will circulate in the other without the need for additional testing or certification. At the signing ceremony Pascal Lamy said : "This agreement is a clear example of our pragmatic approach to tearing down barriers to transatlantic trade. Through the MRA we will facilitate trade in a sector which represents € 1 billion worth of EU-US trade. Regulatory cooperation between us is the way forward to foster trade and investment. Now that that agreement on this item has been reached we can focus on the remaining issues under our common Positive Economic Agenda." US Trade Representative Robert B. Zoellick added : "The US-EU Marine Equipment MRA represents an important new mechanism to facilitate transatlantic trade and promote closer US-EU regulatory cooperation. This agreement saves US manufacturers the time and expense of redundant product testing for the EU market and also promotes our efforts to improve the quality of international marine safety regulations."

    [04] October-December 2003 : quarterly note on the euro-denominated bond markets

    The prospect of an accelerating recovery in the global economy maintained downward pressure on bond prices during Q4/2003. Gross issuance of euro denominated bonds for the year 2003 reached a new record high of €1.768 billion, compared to about €1.45 billion in 2001 and 2002. Issuance volumes were at record levels in almost all market segments, except among corporate issuers, supranational issuers and issuers of pfandbriefe/covered bonds. In line with the typical seasonal pattern, gross issuance of euro-denominated bonds declined progressively over 2003, and was €365 billion in Q4/2003 compared to €515 billion Q1/2003. The composition of issuance in Q4/2003 was characterised by a below-average share of central government bonds (38%) and an above-average share of bonds issued by financial institutions (28%) as well as asset-backed securities (7.5%). Full document and statistical annex available on : http://europa.eu.int/comm/economy_finance/publications/bondmarkets_en.htm

    [05] January 2004 : monthly note on the euro-denominated bond markets

    Market expectations of a US-led economic recovery prevailed throughout January. However, residual concerns about the pace of recovery in the euro area amid the appreciation of the euro meant that the euro yield curve shifted marginally downward. Total issuance of euro-denominated bonds rebounded to €176 billion in January 2004, from €85 billion in December 2003. The composition of issuance was characterised by a high share (55%) of central government bonds, which comprised issues from all euro-area sovereigns except Finland and Luxembourg (topped by Italy with a total borrowing of €31 billion) as well as from the acceding countries Poland and Hungary. The other main characteristics of issuance in January were an increased share of bonds with a size over €2 billion, with a maturity over 11 years and with fixed coupons, reflecting mainly the increased share of central government issuance in total. Full document and statistical annex available on : http://europa.eu.int/comm/economy_finance/publications/bondmarkets_en.htm

    [06] Autre matériel diffusé

    Prodi welcomes Libyan readiness to join Barcelona Process (28/02)

    Speech by President Prodi at African Union Summit (27/02, Sirte - Libya)

    FSC - questions and answers

    Note sur la préparation du Conseil Environnement


    From EUROPA, the European Commission Server at http://europa.eu.int/
    © ECSC - EC - EAEC, Brussels-Luxembourg, 1995, 1996


    Midday Express: News from the EU Commission Spokesman's Briefings Directory - Previous Article - Next Article
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