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European Commission Spokesman's Briefing for 08-07-31

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] State aid: the Commission approves Danish rescue package for Roskilde Bank
  • [02] Consultation by the Commission services on Credit Rating Agencies (CRAs)
  • [03] «Le droit des enfants Ă la protection»: la Commission lance un concours destinĂ© Ă tous les jeunes de l'Union europĂ©enne
  • [04] Commission clears acquisition of Sabadell by Zurich
  • [05] Euro area inflation estimated at 4.1%
  • [06] Euro area unemployment stable at 7.3%
  • [07] Civil Protection Mechanism activated for floods in Romania
  • [08] Statement of Commissioner Olli Rehn on the ruling by Turkey's Constitutional Court
  • [09] RĂ©diffusion
  • [10] Official appointment of the EIT Governing Board: the European Institute of Innovation and Technology set for an Autumn launch in Budapest
  • [11] Mergers: Commission clears proposed acquisition of Cederroth International AB by CapMan and Litorina
  • [12] Autre matĂ©riel diffusĂ© Midday Express of 2008-07-31 Reference: MEX/08/0731 Date: 31/07/2008 EXME08 / 31.7

    MIDDAY EXPRESS

    News from the Communication Directorate General's midday briefing

    Nouvelles du rendez-vous de midi de la Direction Générale Communicationb

    31/07/08


  • [01] State aid: the Commission approves Danish rescue package for Roskilde Bank

    The European Commission has authorised, under the EC Treaty’s rules on state aid, the package of measures to support Roskilde Bank in Denmark. With effect from 11 July 2008, the Danish National Bank granted Roskilde Bank a liquidity facility, which was guaranteed partly by the private financial sector, partly by the Danish state. The Commission received the details of the measures on 21 July 2008. It concluded that the private guarantee and the part of the liquidity facility that it covers do not constitute State aid. At the same time, the remaining part of the liquidity facility, as well as the state guarantee constitute compatible rescue aid measures.

    [02] Consultation by the Commission services on Credit Rating Agencies (CRAs)

    The European Commission has published two consultation documents on CRAs seeking views from all interested parties by 5th September. The first document relates to the conditions for the authorisation, operation and supervision of credit rating agencies. The second proposes policy options in order to tackle what is felt to be an excessive reliance on ratings in EU legislation.

    [03] «Le droit des enfants à la protection»: la Commission lance un concours destiné à tous les jeunes de l'Union européenne

    « Le droit des enfants à la protection », tel est le titre d'un concours lancé aujourd'hui le 31 juillet 2008 par M. Jacques Barrot, Vice- président de la Commission européenne chargé de la justice, de la liberté et de la sécurité. Les enfants et les adolescents européens, âgés de 10 à 18 ans, sont invités à créer un poster sur le thème du droit des enfants à la protection au sein de l'Union européenne. Le concours vise à ce que ces jeunes citoyens européens connaissent mieux ce droit qui est le leur et soient mieux armés pour le défendre

    [04] Commission clears acquisition of Sabadell by Zurich

    The European Commission has granted clearance under the EU Merger Regulation to the acquisition of partial control of Sabadell Vida and Sabadell Generales by Zurich Group. Sabadell Vida and Sabadell Generales are wholly owned subsidiaries of Caixa Sabadell. The Zurich Group is active in insurance and re-insurance. Caixa Sabadell is active in retail banking. Sabadell Vida and Sabadell Generales provide insurance and pension products. The operation was examined under the simplified merger review procedure.

    [05] Euro area inflation estimated at 4.1%

    Euro area annual inflation is expected to be 4.1% in July 2008 according to a flash estimate issued by Eurostat, the Statistical Office of the European Communities. It was 4.0% in June. Euro area inflation is measured by the Monetary Union Index of Consumer Prices (MUICP). To compute the MUICP flash estimates, Eurostat uses early price information relating to the reference month from Member States for which data are available4 as well as early information about energy prices. The flash estimation procedure for the MUICP combines historical information with partial information on price developments in the most recent months to give a total index for the euro area. No detailed breakdown is available. Experience has shown the procedure to be reliable (14 times exactly anticipating the inflation rate and 10 times differing by 0.1 over the last two years). Further information can be found in Eurostat News Release 113/2001 of 5 November 2001.

    [06] Euro area unemployment stable at 7.3%

    The euro area (EA15) seasonally-adjusted unemployment rate stood at 7.3% in June 2008, unchanged compared with May. It was 7.4% in June 2007. The EU271 unemployment rate was 6.8% in June 2008, unchanged compared with May3. It was 7.1% in June 2007. Eurostat estimates that 16.322 million men and women in the EU27, of which 11.352 million in the euro area, were unemployed in June 2008. Compared with May 2008, the number of persons unemployed increased by 15 000 and 58 000 respectively. Compared with June 2007, unemployment was down by 0.6 million in the EU27 and remained unchanged in the euro area. These figures are published by Eurostat.

    [07] Civil Protection Mechanism activated for floods in Romania

    European countries have come to the help of Romania following severe flooding in which five people died. Austria, Slovakia, the Czech Republic, Sweden and Lithuania have offered power generators after Romania asked for European assistance on 29 July following recent heavy rainfalls. The European Commission immediately activated its Civil Protection Mechanism. So far more than 10,000 people have been evacuated from their homes and some 26,000 hectares of land have been flooded. More than 13,000 homes have been damaged by flooding and 99 have collapsed. The severe floods have disrupted transport networks and destroyed 45 dykes. The floods affected 145 localities. The worst affected areas are in the counties of Maramures, Suceava, Bacau, Botosani, Lasi and Neamt. Although the heavy rains have stopped, water levels remain alarmingly high. Romanian authorities have started a recovery phase but urgently need more electric generators to power hospitals, shelters and other essential services. The Monitoring and Information Centre (MIC), operated by the European Commission in Brussels, is the operational heart of the Community Mechanism for Civil Protection. It is available on a 24/7 basis. Any country (inside or outside the EU) affected by a major disaster can launch a request for assistance through the MIC. The MIC coordinates the requests and offers of assistance, provides information on civil protection preparedness and response, and supports the coordination of the provision of European assistance.

    [08] Statement of Commissioner Olli Rehn on the ruling by Turkey's Constitutional Court

    I take good note of the ruling of the Constitutional Court in Turkey. I encourage Turkey now to resume with full energy its reforms to modernise the country. In this context, I encourage the relevant parties to work towards sustainable reforms based on a consensus forged through a broad- based dialogue with all sections of Turkish society. Alignment of Turkey’s rules on political parties with European standards is essential. The Commission will remain in close contact with the Presidency and Member States on this matter.

    (for more information: A. Altafaj –Tel. 2952658 – 298 4172)

    [09] RĂ©diffusion

    [10] Official appointment of the EIT Governing Board: the European Institute of Innovation and Technology set for an Autumn launch in Budapest

    The EIT's first Governing Board was officially appointed today following a European Commission Decision. The Board will hold its inaugural meeting in Budapest on 15 September 2008 with a view to establish the basis that will lead to the launch of the first two to three Knowledge and Innovation Communities (KICs) by the end of 2009.

    [11] Mergers: Commission clears proposed acquisition of Cederroth International AB by CapMan and Litorina

    The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Cederroth by the private equity funds CapMan and Litorina. All three are Swedish companies with overlapping activities in personal care products. The Commission concluded that the transaction would not significantly impede effective competition within the European Economic Area (EEA) or a substantial part of it.

    [12] Autre matériel diffusé

    Memo on State aid: Commission approves Danish rescue package for Roskilde Bank – frequently asked questions

    A disposition au secrétariat de Jonathan Todd (BERL 03/315): Deux notifications préalables d'opérations de concentration : - Strabag / Kirchner - Banque Federative du Credit Mutuel / Citibank Private Banking Germany From EUROPA, the European Commission Server at http://europa.eu.int/


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