Other news - April 2012
Resilience in the financial sector has improved in the aftermath of the financial crisis, and action is now focusing on longer-term growth goals, although vulnerabilities remain, according to an annual European Commission report on financial integration and stability.
Increasing the use of e-procurement in Europe can generate significant savings for European taxpayers. These savings would maximise the efficiency of public spending in the current context of fiscal constraints. E-procurement can also participate in providing new sources of economic growth and jobs. The European Commission has adopted a communication setting out a strategy to make the use of e-procurement the rule in the EU by mid-2016.
As part of the events surrounding the 20th anniversary of the single market, the European Commission has launched a creativity competition for 20-year olds entitled ‘Generation 1992’. Entrants can submit essays, videos, photographs, cartoons or smartphone applications. The aim of the contest is to encourage reflection and discussion on the role of the single market in young people’s daily lives.
The threats associated with money laundering and terrorist financing are constantly evolving, which requires periodic revision of the legal framework. In light of the recent adoption of revised international standards and of the Commission's own review process, a report on the application of the Third Anti-Money Laundering Directive was adopted by the Commission today. The Report analyses how the different elements of the existing framework have been applied and considers how the framework may need to be changed.