European Union

The Council on 19 June 2015 agreed to increase the EU 2015 budget to respond to migratory pressures in the Mediterranean. The Council treated this draft amending budget no 5 as a matter of urgency and high political priority, thus backing up proposal by the Commission to provide for additional resources to manage migration and refugee flows by €89 million in commitments and €76.6 million in payments in a fast-track procedure. Since part of this support can be financed from unused funds in other areas the additional financing burden is limited to €75.8 million in commitments and no fresh payments are needed. The additional resources are intended to reinforce notably FRONTEX, the Asylum, Migration and Integration Fund, as well as the Internal Security Fund.

The Council also accepted the following draft amending budgets for 2015: 

• Draft amending budget no 4 which increases the 2015 EU budget by €66.5 million in commitments and payments for the EU solidarity fund to deal with the damage caused by floods in Italy (€56 million), Romania (€8.5 million) and Bulgaria (€1.98 million)
• Draft amending budget no 3 which seeks to incorporate the budget surplus of 2014 into the revenue side of the EU budget for 2015. The 2014 EU budget closed with a surplus of €1.43 billion

 Next steps 

The European Parliament is expected to vote on the three draft amending budgets at its plenary session starting on 6 July 2015. If the Parliament accepts the Council's position the draft amending budgets are adopted. If the Parliament adopts amendments a three-week conciliation period would start.

On 19 June 2015, the Council approved recommendations and opinions on economic and fiscal policies planned by the member states. 

It also approved a specific draft recommendation on the economic policies of the euro area. 

Approval of the texts is a key stage in the "European Semester", an annual policy monitoring process. Recommendations coving economic and fiscal as well as employment policies will be referred to the European Council for endorsement at its meeting on 25 and 26 June. The Council will then adopt them in July 2015.

In March 2015, the European Council approved priorities for the 2015 European Semester. It endorsed the three main priorities of the Commission's annual growth survey, namely investment, structural reforms and growth-friendly fiscal consolidation. 

An annual process

The European Semester involves simultaneous monitoring by the Commission of the member states' economic and fiscal policies during a six-month period every year. 

In the light of policy guidance given by the European Council annually in March, the member states present each year in April: 

• National reform programmes for their economic policies. These set out a macroeconomic scenario for the medium term, national targets for implementing the "Europe 2020" strategy for jobs and growth, identification of the main obstacles to growth, and measures for growth-enhancing initiatives in the short term;
• Stability or convergence programmes for their fiscal policies. Euro area countries present stability programmes, whereas non-euro member states present convergence programmes. The programmes set out medium-term budgetary objectives, the main assumptions about expected economic developments, a description of fiscal and economic policy measures, and an analysis of how changes in assumptions will affect fiscal and debt positions. 

The Council then approves country-specific recommendations and opinions (CSRs), for endorsement by the European Council. It provides explanations in cases where the recommendations do not comply with those proposed by the Commission. 

The 2015 CSRs are addressed to 26 of the EU's 28 member states. To avoid duplication there are no CSRs for Cyprus and Greece, as they are subject to macroeconomic adjustment programmes. 

Plenary session and committee meetings, Brussels

Source : © European Union, 2015 - EP

On 19 June 2015, the Council extended the EU restrictive measures in response to the illegal annexation of Crimea and Sevastopol until 23 June 2016. The sanctions include prohibitions on:

• imports of products originating in Crimea or Sevastopol into the EU;
• investment in Crimea or Sevastopol, meaning that no Europeans nor EU-based companies can buy real estate or entities in Crimea, finance Crimean companies or supply related services; 
•  tourism services in Crimea or Sevastopol, in particular, European cruise ships cannot call at ports in the Crimean peninsula, except in case of emergency;  
• exports of certain goods and technologies to Crimean companies or for use in Crimea in the transport, telecommunications and energy sectors and related to the prospection, exploration and production of oil, gas and mineral resources. Technical assistance, brokering, construction or engineering services related to infrastructure in these sectors must not be provided either.

 As stated by the European Council on 19 March 2015, the EU continues to condemn the illegal annexation of Crimea and Sevastopol by the Russian Federation and remain committed to fully implement its non-recognition policy. 

In light of the outcome of the Eurogroup meeting today, I have decided to convene a Euro Summit on Monday 22 June at 19h00. It is time to urgently discuss the situation of Greece at the highest political level.

General : EP President Martin Schulz discussed British plans to renegotiate EU membership during a meeting with UK Prime Minister David Cameron today. They also talked about the migration crisis in the Mediterranean and the ongoing talks on trade deals. Afterwards Schulz said: I came to London to listen and to learn and I think we had an excellent and open-minded exchange of views.”

Source : © European Union, 2015 - EP

General : EP President Martin Schulz discussed British plans to renegotiate EU membership during a meeting with UK Prime Minister David Cameron today. They also talked about the migration crisis in the Mediterranean and the ongoing talks on trade deals. Afterwards Schulz said: I came to London to listen and to learn and I think we had an excellent and open-minded exchange of views.”

Source : © European Union, 2015 - EP

Place:  European Convention Centre (KIRCHBERG building), Luxembourg
Time: Meeting starts at 10 am 

All times are approximate and subject to change

ttbc

Doorstep by Minister Reirs  

09.30 

Ministerial breakfast

10.00

Adoption of the agenda
Adoption of legislative A items (public session) 

10.15

Banking structural reform (public session)  

10.50

Investment plan for Europe (public session)

11.30

Press conference

12.00

Administrative cooperation (public session)

12.30

Interest and Royalties directive(public session) 

13.00

Any other business: Financial services (public session)

13.05

Adoption of non-legislative A items 

13.10

Any other business

Implementation of the Banking Union

Capital Markets Union

Contribution to the European Council meeting on 25-26 June 2015

Implementation of the Stability and Growth Pact 

16.30

Press conference

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The Annual meeting of the Board of Governors of the European Stability Mechanism (ESM) takes place on 18 June 2015, in Luxembourg.

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EU Finance Ministers of the eurozone meet in Luxembourg on 18 June 2015.

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EU Finance Ministers meet on 19 June 2015 in Luxembourg to agree directives on VAT vouchers and intra-group interest and royalty payments, and may approve a directive establishing a standard VAT return. They are also discussing a proposal on cross-border tax rulings.

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The Eurogroup welcomes the institutions' conclusion following the sixth review mission that Cyprus' adjustment programme has been brought back on track. The fiscal performance continues to be solid, the debt outlook has improved, and structural reforms are progressing in several areas. We note with satisfaction the signs that confidence is strengthening, the economy is emerging out of recession, and the stabilization in the labour market, although unemployment remains high.

Reforms in the financial sector have progressed. After repeated delays, the legal framework establishing a new foreclosure procedure has entered into force. A comprehensive reform of corporate and personal insolvency laws has also been adopted. These developments have marked an essential step towards addressing the very high level of non-performing loans, which is a drag on restoring growth and job creation in Cyprus. To sustain the progress achieved so far, we reiterate the importance of ensuring a full, swift and effective implementation of these frameworks. Further action to effectively tackle the very high stock of arrears remains a key priority, with important ground to cover in the coming months, notably facilitating the sale of loans and ensuring that title deeds are transferred without delay to property buyers.

We call on the authorities to lend renewed momentum to the implementation of the fiscal-structural and structural reform agenda, including privatisation and public administration reform, in order to improve economic growth prospects and strengthen public finances, while safeguarding the protection of the most vulnerable groups.

The Eurogroup considers that Cyprus' overall positive track record since the beginning of the macro-financial programme has paved the way to the abolition of all capital controls on transactions earlier in the year.

In view of the above, the Eurogroup endorsed in principle the disbursement of the next tranche of financial assistance to Cyprus. Subject to national procedures and formal approval by the ESM governing bodies, the ESM is scheduled to disburse EUR 100 million in mid-July. Concurrently, the IMF Executive Board is expected to decide on the disbursement of about EUR 280 million.  

Lydia Foy is among the 47 winners of the European Citizen's Prize 2015 of the European Parliament. Since 2008, the prize has been awarded to citizens or organisations having contributed to promoting better mutual understanding and closer integration between citizens or to facilitating cross-border or transnational cooperation within the EU. The winner will receive a medal of honour at an award ceremony in Ireland and will be invited to a joint event with all 47 winners in Brussels in October.

Source : © European Union, 2015 - EP

General : The European Youth Event (EYE) will return next year and you could be a part of it! #EYE2016 organisers are looking for enthusiastic young people and organisations that want to help shape the event's programme. Check out the Facebook page for the latest news, including all the information about the previous edition in 2014 and its follow-up phase.

Source : © European Union, 2015 - EP