|
Climate Action Commissioner urges continued focus on emissions targets
29 October 2010 - European Commissioner for Climate Action, Connie Hedegaard, speaking in Dublin today, said that the EU could not afford to sit back on climate action because the economy was bad.
"Action on climate change remains key for our economy and our children's future," she said. "Money invested in renewable energy sources generates 3 to 5 times more jobs than investments in fossil fuel energy sources," she said. "The EU's climate policy means that the number of jobs in the renewable energy sector will grow from 1.5 million in 2005 to 3.5 million in 2020. As well as jobs in new technologies, retro-fitting housing stock and building energy infrastructure creates jobs that cannot be exported."
Commissioner Hedegaard also praised Ireland's recent investments in forestry which will help meet its commitments to reduce greenhouse gas emissions. She said that the Commission was seeking views on whether land use change and forestry should be included in targets for reducing greenhouse gases by 2020.
People can take part in the public consultation by going to: http://ec.europa.eu/clima/consultations/0005/index_en.htm
| |
|
EU Industrial Investment Scoreboard – Irish companies improve rankings
26 October 2010 - Despite almost unprecedentedly difficult economic conditions R&D investment remains an important strategic priority for top firms worldwide, including in Ireland.
In fact, R&D spending in Ireland is up 13%. Ireland has 16 companies in the top 1000 companies for R&D spending in the EU in the year 2009 (up from 12 companies in 2008). The UK, France and Germany are the top EU spenders on R&D.
Today's figures come from the European Commission's 2010 "EU Industrial R&D Investment Scoreboard". It shows that R&D investment by top EU companies fell by 2.6% in 2009, even though sales and profits fell much more, by 10.1% and 21.0% respectively.
In contrast, US spending dropped by 5.1 % while Asian companies maintained or increased R&D levels.
See here for the full report.
Máire Geoghegan-Quinn, Commissioner for Research, Innovation and Science said: "The fact that major EU firms have largely maintained their R&D investment shows that they recognise R&D as key to emerging stronger from the crisis. But the wide gap with the top US companies in areas like software and biotechnology and the continuing rapid rise of Asian-based companies highlight the innovation emergency Europe is facing. We urgently need heads of state and government at the December European Council to back the Innovation Union proposals that Antonio Tajani and I announced on 6 October."
The fall in R&D investment by leading players in the US, at 5.1%, was twice as sharp as in the EU, but the worldwide reduction was lower, at 1.9%. Japanese firms maintained their level of investment. Companies based elsewhere in Asia - China, India, Hong Kong, South Korea and Taiwan - continued the high R&D growth seen in previous years. Japanese car maker Toyota is the world's biggest R&D investor (€6.8bn) for the second consecutive year.
Three EU companies feature in the top ten: Volkswagen, the biggest investor based in Europe with €5.8bn, Nokia and Sanofi-Aventis. The Scoreboard covers the top 1400 companies worldwide.
Within the EU group overall, there are 918 companies based in the top 10 Member States that account for 97.2% of the total R&D investment of the EU Scoreboard companies (compared with 98.1% in 2008). Within the top 10 countries, the German, French and UK companies constitute more than two thirds of the total R&D investment of the EU (see Table 11).
The rest of companies (82) are based in Austria (31), Ireland (16), Portugal (8), and Luxembourg (8), along with a further 7 Member States.
IRELAND see below for ranking and spending
|
Rank
|
Company
|
ICB sector
|
R&D Investment
2009 €m
|
|
68
|
Covidien
|
Health care equipment & services
|
305.26
|
|
69
|
Accenture
|
Support services
|
303.13
|
|
98
|
Elan
|
Pharmaceuticals
|
180.51
|
|
100
|
Ingersoll-Rand
|
Industrial machinery
|
179.39
|
|
122
|
Kerry
|
Food producers
|
147.76
|
|
179
|
Cooper Industries
|
Electrical components & equipment
|
98.34
|
|
275
|
Warner Chilcott
|
Pharmaceuticals
|
53.48
|
|
316
|
Bank of Ireland
|
Banks
|
41.33
|
|
380
|
SkillSoft
|
Software
|
30.57
|
|
499
|
James Hardie Industries
|
Construction & materials
|
18.89
|
|
681
|
Trinity Biotech
|
Health care equipment & services
|
10.58
|
|
692
|
Glanbia
|
Food producers
|
10.33
|
|
794
|
Norkom
|
Software
|
7.69
|
|
894
|
AGI Therapeutics
|
Pharmaceuticals
|
5.76
|
|
928
|
Greencore
|
Food producers
|
5.28
|
|
996
|
Merrion Pharmaceuticals
|
Pharmaceuticals
|
4.41
|
This year's Scoreboard shows that despite almost unprecedentedly difficult economic conditions R&D investment remains an important strategic priority for top firms worldwide.
Background
The EU Industrial R&D Investment Scoreboard is published annually by the European Commission (DG Research and Joint Research Centre) and provides information on the world's top 1400 companies (400 from the EU and 1000 from outside) ranked by their investments in R&D. It measures the total value of their global R&D investment, irrespective of the location where the relevant R&D takes place. It does not therefore indicate trends in private sector R&D intensity – business R&D expenditure in a particular country or region as a proportion of GDP, whether that expenditure is by home-grown companies or through inward investment.
Download
2010 "EU Industrial R&D Investment Scoreboard" and other IRMA (Industrial Research Investment Monitoring and Analysis)reports:
http://iri.jrc.ec.europa.eu/reports.htm
For more information:
MEMO/10/522
IP/10/1288
http://ec.europa.eu/research/innovation-union/index_en.cfm
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Eurostat deficit figures for 2009 - Ireland has largest government deficit in percentage of GDP recorded
22 October 2010 - Eurostat published today government deficit and debt figures for 26 Member States. This is the second notification of government deficit and debt figures for 2009.
In 2009 the largest government deficits in percentage of GDP were recorded in Ireland (-14.4%), the United Kingdom (-11.4%), Spain (-11.1%), Latvia (-10.2%), Portugal (-9.3%), Lithuania (-9.2%), Romania (-8.6%), Slovakia (-7.9%), France (-7.5%) and Poland (-7.2%). No Member State registered a government surplus in 2009. The lowest deficits were recorded in Luxembourg (-0.7%), Sweden (-0.9%) and Estonia (-1.7%). In all, 24 Member States recorded a worsening in their government deficit relative to GDP in 2009 compared with 2008, and two (Estonia and Malta) an improvement.
At the end of 2009, the lowest ratios of government debt to GDP were recorded in Estonia (7.2%), Luxembourg (14.5%), Bulgaria (14.7%), Romania (23.9%)and Lithuania (29.5%). Eleven Member States had government debt ratios higher than 60% of GDP in 2009: Italy (116.0%), Belgium (96.2%), Hungary (78.4%), France (78.1%), Portugal (76.1%), Germany (73.4%), Malta (68.6%), the United Kingdom (68.2%), Austria (67.5%), Ireland (65.5%) and the Netherlands (60.8%).
Eurostat also publishes government revenue and government expenditure data for these 26 Member States. Note: There are no figures for Greece, data is still being quality assessed and no euro area and EU27 aggregates. These data will be published by Eurostat by mid November. For further information, see "Reservations on reported data" below.
This is the second notification of government deficit and debt figures for 2009. According to the Protocol on the excessive deficit procedure annexed to the EC Treaty, government deficit (surplus) means the net borrowing (net lending) of the whole general government sector (central government, state government, local government and social security funds). It is calculated according to national accounts concepts (European System of Accounts, ESA95). Government debt is the consolidated gross debt of the whole general government sector outstanding at the end of the year (at nominal value).
Reservations on reported data
In its News Release 55/2010 of 22 April 2010, Eurostat expressed a reservation on Greek data.
Eurostat is not publishing Greek data in this News Release.
Eurostat has completed its enquiries on statistical compilation of the Greek fiscal data and is now undertaking a process of quality assessment of statistical source data from public accounts, in cooperation with the Greek Statistical Office and the Greek Court of Auditors. Following this process, and the release of the annual report of the Greek Court of Auditors at the beginning of November 2010, Greek fiscal data will be published by Eurostat by mid November 2010.
Amendment by Eurostat to reported data
United Kingdom: Eurostat has amended the deficit data notified by the United Kingdom for the years 2006 to 2009 for consistency of recording of UMTS licences proceeds in 2000. This leads to an increase in the government deficit in 2007 and 2008 (as well as for financial years 2007/2008 and 2008/2009) by 1.044 mn GBP (0.1% of GDP) and in 2006 and 2009 (financial years 2006/2007 and 2009/2010) by 1.045 mn GBP (0.1% of GDP). There is no change in the reported debt figures.
Background
In this News Release, Eurostat, the statistical office of the European Union, is providing government deficit and debt data based on figures reported in the second 2010 notification by EU Member States for the years 2006-2009, with the exception of Greece, for the application of the excessive deficit procedure (EDP). This notification is based on the ESA95 system of national accounts. This News Release also includes data on government expenditure and revenue and an annex with the main revisions since the April 2010 News Release.
Eurostat will also be releasing information on the underlying government sector accounts (excluding Greece and euro area and EU27 aggregates) on the government finance statistics section on its website:
http://epp.eurostat.ec.europa.eu/portal/page/portal/government_finance_statistics/introduction
Information on Tables
• Table of national data: these are in national currencies. For Cyprus, Malta, Slovenia and Slovakia, data for the years prior to the adoption of the euro have been converted into euro according to the irrevocable conversion rate.
• The ESA95 definition of net lending /net borrowing does not include streams of payments and receipts resulting from swap agreements and forward rate agreements, as these are recorded as financial transactions;
• For the purpose of the excessive deficit procedure, streams of payments and receipts resulting from swaps and forward rate agreements are recorded as interest expenditure and contribute to the net lending/net borrowing of general government.
Concerning 2009, for most Member States, the difference, if any, between the two balances is minor except in Sweden (0.26% of GDP), Finland (0.25% of GDP) and Denmark (0.11% of GDP). These differences improve net lending/net borrowing for EDP purposes for all the mentioned countries.
Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
Revisions in government deficit/surplus and government debt ratios
from the April 2010 to the October 2010 notification
|
|
Deficit/surplus*
|
Debt
|
|
2006
|
2007
|
2008
|
2009
|
2006
|
2007
|
2008
|
2009
|
|
Belgium
|
Revision in deficit/surplus and debt ratios
|
-0.1
|
-0.1
|
-0.2
|
0.0
|
0.0
|
0.0
|
-0.2
|
-0.5
|
|
- due to revision of deficit/surplus or debt
|
-0.1
|
-0.1
|
-0.2
|
0.0
|
0.0
|
0.0
|
-0.1
|
-0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
-0.4
|
|
Bulgaria
|
Revision in deficit/surplus and debt ratios
|
-1.2
|
1.1
|
-0.2
|
-0.8
|
-1.1
|
-1.0
|
-0.4
|
-0.1
|
|
- due to revision of deficit/surplus or debt
|
-1.0
|
1.1
|
-0.1
|
-0.9
|
0.0
|
0.1
|
0.2
|
0.4
|
|
- due to revision of GDP
|
-0.1
|
0.0
|
-0.1
|
0.1
|
-1.1
|
-1.1
|
-0.5
|
-0.5
|
|
CzechRepublic
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
0.1
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
0.1
|
0.0
|
0.0
|
0.0
|
-0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
|
Denmark
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.2
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
|
Germany
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.1
|
0.1
|
0.3
|
0.0
|
-0.1
|
0.3
|
0.2
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.1
|
0.1
|
0.3
|
0.0
|
0.0
|
-0.1
|
-0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.4
|
0.3
|
|
Estonia
|
Revision in deficit/surplus and debt ratios
|
-0.1
|
-0.1
|
-0.1
|
0.0
|
-0.1
|
0.0
|
0.0
|
-0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
-0.1
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.0
|
0.0
|
-0.1
|
|
Ireland
|
Revision in deficit/surplus and debt ratios
|
0.0
|
-0.1
|
0.0
|
-0.1
|
-0.1
|
0.0
|
0.4
|
1.5
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
-0.1
|
0.0
|
0.2
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
-0.1
|
-0.3
|
-0.1
|
0.0
|
0.4
|
1.6
|
|
Greece
|
Data will be published by mid November 2010. See "reservations on reported data" on page 1
|
|
Spain
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
-0.1
|
0.1
|
0.0
|
0.0
|
0.1
|
-0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
-0.1
|
0.0
|
0.0
|
0.0
|
0.1
|
0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
|
France
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.5
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
0.1
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.5
|
|
Italy
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
0.0
|
0.1
|
0.1
|
0.2
|
0.2
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
0.0
|
0.1
|
0.1
|
0.2
|
0.2
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
|
Cyprus
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
0.1
|
0.0
|
0.0
|
-0.1
|
1.8
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
0.1
|
0.0
|
0.0
|
0.0
|
1.8
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.0
|
|
Latvia
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
-1.3
|
0.0
|
0.0
|
0.1
|
0.6
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
-1.2
|
0.0
|
0.0
|
0.0
|
0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.0
|
0.0
|
0.1
|
0.4
|
|
Lithuania
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
-0.3
|
0.0
|
0.0
|
0.0
|
0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
-0.2
|
0.0
|
0.0
|
0.0
|
-0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.0
|
0.0
|
0.0
|
0.3
|
|
Luxembourg
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.1
|
0.1
|
0.0
|
0.2
|
0.0
|
-0.1
|
0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.1
|
0.1
|
0.0
|
0.1
|
0.0
|
0.0
|
0.2
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
-0.1
|
|
Hungary
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.1
|
-0.4
|
0.1
|
0.2
|
-0.6
|
0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.1
|
-0.4
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.1
|
0.2
|
-0.6
|
0.1
|
* Revisions to deficit/surplus ratios: a positive sign means an improved government balance relative to GDP, and a negative sign a worsening.
Revisions in government deficit/surplus and government debt ratios
from from the April 2010 to the October 2010 notification
|
|
Deficit/surplus*
|
Debt
|
|
2006
|
2007
|
2008
|
2009
|
2006
|
2007
|
2008
|
2009
|
|
Malta
|
Revision in deficit/surplus and debt ratios
|
-0.2
|
-0.1
|
-0.3
|
0.0
|
-0.2
|
-0.2
|
-0.5
|
-0.5
|
|
- due to revision of deficit/surplus or debt
|
-0.2
|
-0.1
|
-0.3
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.3
|
-0.2
|
-0.5
|
-0.5
|
|
Netherlands
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
-0.1
|
-0.1
|
0.0
|
-0.2
|
0.0
|
-0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
-0.1
|
-0.1
|
0.0
|
0.1
|
0.1
|
0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.2
|
0.0
|
-0.2
|
|
Austria
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
-0.1
|
-0.2
|
-0.2
|
-0.2
|
1.0
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.1
|
0.1
|
0.4
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.2
|
-0.3
|
-0.3
|
0.6
|
|
Poland
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.0
|
0.0
|
-0.1
|
-0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
0.0
|
|
Portugal
|
Revision in deficit/surplus and debt ratios
|
-0.1
|
-0.2
|
-0.1
|
0.1
|
-0.8
|
-0.9
|
-1.0
|
-0.7
|
|
- due to revision of deficit/surplus or debt
|
-0.2
|
-0.3
|
-0.2
|
-0.2
|
1.2
|
1.3
|
1.1
|
1.2
|
|
- due to revision of GDP
|
0.1
|
0.1
|
0.1
|
0.2
|
-1.9
|
-2.1
|
-2.2
|
-1.9
|
|
Romania
|
Revision in deficit/surplus and debt ratios
|
-0.1
|
-0.1
|
-0.3
|
-0.3
|
0.0
|
0.0
|
0.0
|
0.1
|
|
- due to revision of deficit/surplus or debt
|
-0.1
|
-0.1
|
-0.3
|
-0.3
|
0.0
|
0.0
|
0.0
|
0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
|
Slovenia
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
-0.1
|
-0.3
|
0.0
|
0.0
|
-0.1
|
-0.5
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
-0.1
|
-0.4
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.1
|
0.0
|
0.0
|
-0.1
|
-0.5
|
|
Slovakia
|
Revision in deficit/surplus and debt ratios
|
0.3
|
0.0
|
0.2
|
-1.2
|
0.0
|
0.2
|
0.1
|
-0.2
|
|
- due to revision of deficit/surplus or debt
|
0.3
|
0.0
|
0.2
|
-1.1
|
0.1
|
0.2
|
0.0
|
-0.4
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.1
|
0.2
|
|
Finland
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
0.0
|
-0.3
|
0.0
|
0.0
|
-0.1
|
-0.2
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
0.0
|
-0.3
|
0.0
|
0.0
|
0.0
|
-0.1
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
-0.1
|
|
Sweden
|
Revision in deficit/surplus and debt ratios
|
-0.2
|
-0.3
|
-0.3
|
-0.4
|
-0.8
|
-0.8
|
-0.1
|
-0.5
|
|
- due to revision of deficit/surplus or debt
|
-0.2
|
-0.2
|
-0.2
|
-0.4
|
-0.1
|
0.0
|
0.6
|
0.2
|
|
- due to revision of GDP
|
0.0
|
-0.1
|
0.0
|
0.0
|
-0.7
|
-0.8
|
-0.7
|
-0.7
|
|
United Kingdom
|
Revision in deficit/surplus and debt ratios
|
0.0
|
0.0
|
-0.1
|
0.1
|
-0.1
|
-0.2
|
0.1
|
0.1
|
|
- due to revision of deficit/surplus or debt
|
0.0
|
0.0
|
-0.1
|
0.2
|
0.0
|
0.0
|
0.0
|
0.0
|
|
- due to revision of GDP
|
0.0
|
0.0
|
0.0
|
0.0
|
-0.1
|
-0.2
|
0.1
|
0.2
|
|
EU27
|
Data will be published by mid November 2010. See "reservations on reported data" on page 1
|
|
EA16
|
Data will be published by mid November 2010. See "reservations on reported data" on page 1
|
* Revisions to deficit/surplus ratios: a positive sign means an improved government balance relative to GDP, and a negative sign a worsening.
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EU Commission launches consultation on further capital buffers for banks
22 October 2010 - The Internal Market Department of the European Commission has today (Friday) launched a public consultation to seek stakeholders' views on possible measures to ease fluctuations in the financial system by introducing countercyclical capital buffers for banks.
Counter cyclical capital buffers are variable capital reserves that banks would have to accumulate during economically good times. Banks could draw upon these reserves to continue lending and borrowing when economic conditions worsen.
A regime for countercyclical capital buffers could also help to moderate the build-up of excessive levels of credit in the financial system by raising the cost of credit. This would dampen demand where there is evidence that credit levels are growing above established benchmarks.
In February 2010, the Commission launched a consultation on further changes to the EU laws on capital requirements for banks (see IP/10/197). While the consultation already included orientations for the introduction of a capital conservation buffer, which would require banks to put aside a fixed reserve, the Basel Committee published a consultation paper in July 2010 on a proposal for additional and variable countercyclical buffers. These reserves would be added to banks' minimum regulatory capital and the capital conservation buffer.
Since this development changes the Commission's earlier ideas about capital reserves, a second consultation is necessary. In the light of the feedback received from this consultation, the Commission will further consider whether capital buffers should be introduced in the EU through the upcoming amendment to the Capital Requirements Directive, due to be proposed in the first quarter of 2011.
The consultation runs until 18 November 2010.
The consultation is available at: http://ec.europa.eu/internal_market/bank/regcapital/index_en.htm
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"Ireland best example of Structural Funds" says European Commissioner Hahn
22 October 2010 - Ireland's use of Structural Funds to transform border areas was praised today in Dundalk by European Commissioner for Regional Policy, Johannes Hahn.
"Ireland is the best example that Structural Funds can make a real difference. Regional investments have not only contributed to the Irish development but they have also helped Ireland, in particular through the INTERREG and PEACE programmes, to create cross border links with its neighbours and to tackle common problems", he said.
The Commissioner's visit comes at an important moment as the debate on the future of EU funding kicks off. This week, the Commission formally put its ideas on the table in the form of a policy document outlining some new options for governments and MEPs to consider (published last Tuesday 19 October.)
Commissioner Hahn was speaking in Dundalk where he was attending the annual conference of the Association of European Border Regions (AEBR).
In the 20 years since the AEBR last held its conference in Ireland, the east border region has been transformed by EU funding, mainly InterReg and PEACE programmes.
Later (this morning), Commissioner Hahn visited the Dundalk Institute of Technology and the Boyne Bridge, both recipients of substantial EU funds.
On his return to Dublin (Friday 22 Oct afternoon), the Commissioner also had meetings with senior officials from the Department of Finance, Pat Carey TD, Minister for Community, Equality and Gaeltacht Affairs and Dick Roche TD, Minister for European Affairs.
See here for the full text of the Commissioner's address to the Annual conference of the Association of European Border Regions in Dundalk.
See here for a profile of the Commissioner.
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Commissioner Johannes Hahn visits Dundalk Friday 22 October
21 October 2010 - Tomorrow Friday (22 October), for the first time in 20 years, the Association of European Border Regions (AEBR) holds its annual conference in Dundalk. In those 20 years, the East Border Region of Dundalk/Newry has been transformed by EU funding, mainly 'InterReg' and PEACE programmes.
So it's fitting that a guest of honour will be Commissioner for Regional Policy, Johannes Hahn. Commissioner Hahn is from Austria and is in charge of structural funds and regional policy.
Two-hundred and ninety participants, many of them Ministers and officials from Europe's other border regions such as the Pyrenees, the Black Sea and the Alps will gather to talk about how support to cross-border regions can help economic recovery.
Later, Commissioner Hahn will visit Dundalk Institute of Technology and the Boyne Bridge.
Then he will return to Dublin where he meets Mr Brian Lenihan TD, Minister for Finance, Mr Pat Carey TD, Minister for Community, Equality and Gaeltacht Affairs.
The Commissioner's portfolio is one where it's expected that there will be certain changes and reforms as part of the post-2013 EU Budget. First discussions on the options start this week and the Commission will make a formal statement today (19 October) outlining some ideas.
Commissioner Hahn said recently: " In today's challenging economic conditions, the EU's regional policy must deliver tangible results and above all, the creation of jobs. In our ever more interconnected world, achieving growth in one region will lead to new employment in another.
My job is to put European regional policy at the heart of our efforts for economic recovery and long term prosperity under our EU 2020 strategy. The aim is a better life for Europeans everywhere: from the most densely populated cities, to the deepest countryside and the remotest islands."
A profile of the Commissioner is available here.
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Commission wants suspension of cloning for food production
19 October 2010 - The European Commission has today announced that it will propose a temporary suspension of animal cloning for food production in the EU. The Commission also plans to suspend temporarily the use of cloned farm animals and the marketing of food from clones. All temporary measures will be reviewed after five years.
Commissioner in charge of Health and Consumer Policy, John Dalli, said: "The Communication adopted today is a response to calls from the European Parliament and Member States to launch a specific EU policy on this sensitive issue. I believe that the temporary suspension constitutes a realistic and feasible solution to respond to the present welfare concerns".
The establishment of a traceability system for imports of reproductive materials for clones, such as semen and embryos of clones is also envisaged. The system will allow farmers and industry to set up database with the animals that would emerge from these reproductive materials.
The Commissioner underlined that the proposal will not suspend cloning for uses other than food, such as research, conservation of endangered species or use of animals for the production of pharmaceuticals. In conclusion, he expressed the hope that "with the adoption of this report, the Council, the Parliament and the Commission will move forward on the proposal on Novel Foods which is an important contribution to consumer protection and innovation".
The way forward
In the Commission's view, a selective mixture of measures, accompanied by a review clause after five years, is the best way forward to address the issue. These measures will sufficiently address animal welfare concerns without introducing unnecessary and unjustifiable restrictions.
The Commission's assessment
The communication presents an assessment of cloning technology in relation to food production and examines the relevant aspects of cloning in light of the existing legislative framework. It acknowledges the challenges posed by animal welfare issues and takes into consideration the ethical facet of cloning. It also notes that there is no scientific evidence confirming food safety concerns regarding foods obtained from cloned animals or their offspring.
The communication examines cloning both in the Member States and in third countries. In the EU, the imports, trade and use of products from clones are currently covered by general EU legislation. Denmark is the only Member State that has imposed a national ban on the use of animal cloning for commercial purposes, while some third countries are already using cloning to produce breeding animals.
The Commission consulted stakeholders, asked EFSA to update scientific issues and took into account the opinion of the European Group of Ethics.
Background
Cloning is the creation of an organism that is a genetic copy of another. This means the two organisms share exactly the same DNA.
The debate about cloning for food purposes started a few years ago when cloned embryos were imported into the EU. According to the current EU Regulation, only food produced from clones is considered "novel food" as it is not produced via traditional breeding techniques. Therefore, such food falls under the scope of the Regulation on Novel foods, which is now under discussion at EU level. Novel foods are foods and food ingredients that have not been significantly used for human consumption within the EU before 15 May 1997.
In September 2008, in a resolution it adopted, the European Parliament supported a total ban of cloning. In 2009, in order to have a broader view of the issue, the Council asked the Commission to present a report. At his EP's hearing earlier this year, Commissioner Dalli promised that the report would be delivered by the end of 2010.
See here for further information.
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Five Irish research projects selected for prestigious 'Starting Grant' competition
19 October 2010 - Five Irish-based researchers, one in University College Cork, two in NUI Galway and two in Trinity College Dublin, have just been awarded grants under the prestigious 'Starting Grants' competition run by the European Research Council (ERC).
Worth up to €2 million each, the grants will enable them to carry out their pioneering research. The grants are awarded to early-career scientists and the winners are drawn from a pool of extremely bright and talented young researchers with a ground-breaking, creative idea. The Irish scientists are just five of 427 researchers across the EU selected for funding.
The Irish projects cover a wide range of frontier research - in the medical (e.g. tissue regeneration, cartilage repair), and electronic fields - and sustainable bioenergy and looking at the role of climate and migration in shaping populations. (see list below)
Commissioner for Research, Innovation and Science, Máire Geoghegan-Quinn said: "With these awards, the ERC is investing in both new projects and new talent. Excellence in the kind of cutting-edge science funded by the ERC is a prerequisite for creating an Innovation Union in Europe and ultimately for achieving the EU's "Europe 2020" objective of sustainable growth."
Irish Winners
COLEMAN Jonathan Nesbitt -Trinity College
Semiconducting and Metallic nanosheets: Two dimensional electronic and mechanical materials
COLLINS Gavin - National University of Ireland, Galway
Cold Carbon Catabolism of Microbial Communities underpinning a Sustainable Bioenergy and Biorefinery Economy
KELLY Daniel John- Trinity College
StemRepair Novel mesenchymal stem cell based therapies for articular cartilage repair
MCNAMARA Laoise Maria - NUI Galway
Frontier research in bone mechanobiology during normal physiology, disease and for tissue regeneration
PINHASI Ron - University College Cork
From the earliest modern humans to the onset of farming (45,000-4,500 BP): the role of climate, life-style, health, migration and selection in shaping European population history
The European Research Council (ERC) is awarding some €580 million to 427 early-career top researchers in its competition for 'Starting Grants'. Worth up to € 2 million each, the grants will enable them to carry out their pioneering ideas in any field of research, throughout Europe. This is the third Starting Grant call since the ERC was launched in 2007 as a flagship component of the EU's 7th Research Framework Programme.
The estimated total budget for this call, just over €580 million, is an increase of more than 40% from last year's Starting Grant call.
The average age of the selected researchers is about 36 years and 26.5% are women, which is an increase from last year's 23%. The ERC is open to the whole spectrum of research domains and the distribution of proposals per domain is 45.7% in 'Physical Sciences and Engineering', 35.8% in 'Life Sciences' and 18.5% in 'Social Sciences and Humanities'. The number of applicants in this call totals 2873, which is a 14% increase from last year. The proposals hold a very high overall quality and the total number submitted now seems to have stabilised. The success rate has gone up to 15%.
ERC Starting Grant in brief
For early-career top researchers of any nationality and age, with 2-12 years of experience after PhD
Funding: up to € 2 million per grant for up to 5 years.
Calls for proposals: published annually in summer with deadlines in autumn.
ERC also supports established research leaders (with significant research achievements in the past ten years). The calls for proposals for 'Advanced Grants' are generally published in autumn with deadlines in spring.
Links
ERC Press Release on outcome second Starting Grant call (2009) 
Statistics - second Starting Grant call (2009)
Some striking ERC-funded projects
ERC website
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Irish in Brussels go back to school
18 October 2010 - Brussels can seem a long way from Galway, Donegal and West Cork, but that’s exactly where some senior Irish officials in the EU are headed this week.
More than 90 of the Irish people working in Brussels are coming home to visit their old schools and talk to the transition years and other senior students about how the EU works and career opportunities available.
"This is the second time Irish EU officials have taken part in the 'Back-to-School' activity, with numbers up on last year. It's clear that Irish people working for the EU are really keen on taking part and letting young people know what is out there for them.", said Barbara Nolan, newly appointed Director of the European Commission Representation in Ireland.
Amongst them is Galway's Eoin O'Shea who is Ireland's new Member of the Court of Auditors, the EU's body for financial control. He will be going back to see the students at Garbally College, Ballinasloe. Dublin's David O'Sullivan is Director-General for EU Trade policy and in charge of negotiating for the EU at WTO. He will be back to school at St Mary's in Rathmines, Dublin.
All in all, more than 90 Irish EU officials will be taking part in the "Back to School" activities this year - from translators to scientific researchers and financial managers to vets. They will get the chance to talk to young people at home and hear their views.
It's also a chance to let students know about careers in the EU, the challenge of living and working abroad as well as issues of broader interest such as climate change and the EU's response to the economic crisis.
Background: The 'Back to School' initiative is taking place across the EU. It all started in 2007 when the German officials went 'back to school' to mark the 50th anniversary of the Treaty of Rome and it proved so popular that it has expanded every year, with more and more people taking part. This year, "Back to School" is taking place in nine EU countries with more than six hundred European officials taking part.
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Barbara Nolan, new Director of the European Commission Representation in Ireland
14 October 2010 - The new Director of the European Commission Representation in Ireland, Barbara Nolan, has just taken up office in European House in Dawson Street, Dublin.
Speaking today, Barbara said: "I was deeply honoured to be appointed Director of the Commission's Representation in Ireland. It is great to be back home, having been based for over 20 years in Brussels, with the European Commission. In my new job, I want to make sure that the voice of Irish stakeholders is heard by the European Commission. I believe that the role of civil society in representing citizens' interests is critical to shaping good policy measures."
Barbara is from Dublin and has been working in the European Commission since 1989. She studied economics at University College Dublin and at the College of Europe, Bruges, Belgium.
Prior to this, she was attached to the Commission in Brussels and has held a number of management posts in the area of modernisation of Higher Education, Anti-Discrimination Policy and Communications.
She was the European Commission's Spokesperson for Employment, Social Affairs and Health matters from 1993-1999.
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New rules proposed to prevent Mexican oil disaster happening in EU waters
The EU Commission is proposing comprehensive legislation on oil platforms in European waters aimed at ensuring the highest safety standards in the world.
Günther Oettinger, Commissioner for Energy, said: "Safety is non negotiable. We have to make sure that a disaster similar to the one in the Gulf of Mexico will never happen in European waters. This is why we propose that best practices already existing in Europe will become the standard throughout the European Union."
In the Communication, the Commission recommends specific EU legislation on oil platforms, indicating that a formal proposal could be tabled early next year. Such an EU wide approach is deemed necessary, as the environmental, economic and social damages caused by a possible offshore accident do not know borders.
The proposal covers standards on the prevention, the response and the financial liability:
-
Granting permits: When granting licences for new drillings, Member States will have to make sure that the oil companies meet key EU requirements: Companies must have a contingency plan and prove that they have the financial means available to them to pay for environmental damage caused in the event of an accident.
-
Controls: Oil platforms are controlled by national authorities. These supervision tasks of national authorities should be evaluated by independent experts.
-
Standards for safety equipment: Technical standards will ensure that only control equipment meeting the highest safety standards will be allowed. This includes in particular blow out preventers.
-
Damages/Response: Oil companies have to clean up and remedy the damage caused to the environment following an accident within a zone of maximal 200 nautical miles from the coast. The European Maritime Safety Agency (EMSA), presently focussing on pollution caused by ships will also help on those caused by oil platforms.
-
International: The Commission will work for implementing existing international conventions and new common initiatives.
Background:
Following the disaster in the Gulf of Mexico on 20 April 2010, the European Commission has screened existing rules on oil platforms. Although safety standards in the EU industry are generally high, the rules often vary from a company to company and legislation differs from one Member State to another. Certain safety aspects are also governed by existing EU legislation, such as the EU environmental Liability Directive, the Waste Framework Directive. The analysis showed however that an overhaul and a more coherent legal framework is needed, if the highest safety standard should be assured.
The 2010 Commission's Report on Environmental Liability can be found here:
http://ec.europa.eu/environment/legal/liability/index.htm
http://ec.europa.eu/energy/oil/offshore/standards_en.htm
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Commissioner urges continued investment in Broadband
12 October 2010 - Speaking in Dublin today, European Commission Vice President Neelie Kroes outlined why European companies and public authorities can and must continue to invest in broadband despite the economic crisis.
In her speech at the Irish Telecoms and Internet Forum (TIF), Kroes said "We cannot afford not to invest. The crisis means we have to focus on changes that limit costs. But there are extremely efficient levers such as co-ordinating network roll-out with other public digging work (water pipes, electrical cables etc), and focussing on how wireless broadband can meet rural needs". "Overall we need a mix of technology, many sources of funding, and pragmatic co-operation by all stakeholders" to meet the EU target of broadband for all by the end of 2013.
Kroes is working with the European Investment Bank to leverage up to €30bn for additional broadband investments. Kroes also criticised the lack of take-up for broadband of EU funds such as the European Regional Development Fund and the low usage of relatively generous State Aid Guidelines for broadband: "Use the many levers at your disposal."
Finally, Kroes underlined how eGovernment, eLearning and eHealth services made possible by broadband networks all contributed to making optimum use of scarce public resources.
See here for the full speech.
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Commission in-depth review of restructuring of Irish building society EBS
11 October 2010 - The European Commission has opened, under EU state aid rules, an in-depth investigation into the proposed restructuring of Educational Building Society (EBS), Ireland's biggest building society which benefitted from state support in various forms.
At this stage, the Commission has doubts whether the distortions of competition caused by the aid are sufficiently addressed in the restructuring plan. The opening of an in-depth investigation gives third parties the possibility to comment and does not prejudge the final outcome.
Commission Vice-President in charge of Competition policy Joaquin Almunia said: "Ireland has taken decisive action to strengthen EBS. The amount of aid received by EBS, however, justifies that we give interested third parties the opportunity to comment on whether the distortions of competition are adequately addressed".
In June, the Commission temporarily authorised a €875 million capital injection in favour of EBS, the largest building society and the eighth largest financial institution in Ireland that focuses mainly on retail mortgage lending and saving products (see IP/10/658)
The recapitalisation resulted in the nationalisation of the financial institution, which has also received aid through asset purchases by the National Asset Management Agency (NAMA) as well as coverage under Ireland's extensive guarantee schemes.
A restructuring plan was submitted on 31 May. After a preliminary assessment of the plan, the Commission has concerns whether the distortions of competition caused by the aid to EBS are sufficiently addressed by the measures proposed in this plan.
Therefore, the Commission considers appropriate to offer third parties, including competitors, an opportunity to comment on this issue. In addition, the Commission requires more information to underpin the claim that EBS will not need further state aid and will restore its viability on the basis of the current plan.
Since the notification of the plan, the Irish authorities have indicated that they are preparing the sale of EBS, which is only active in Ireland.
The Commission will be publishing a summary of today's decision giving interested third parties one month to comment. In the meantime it also expects to have more clarity on EB's sale process.
The non-confidential version of the decision will be made available under the case number N212/2010 the State Aid Register on the DG Competition website once any confidentiality issues have been resolved. New publications of state aid decisions on the internet and in the Official Journal are listed in the State Aid Weekly e-News
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Sons reluctant to leave home - Eurostat
8 October 2010 - A Eurostat report out today shows that young men aged between 25 and 34 are almost twice as likely as young women to still live with their parents.
The pattern holds right across the EU. The trend holds for Ireland with 32% of men still at home by age 34, compared with just 18% of girls.
The trend of staying at home well into adulthood is most pronounced in some of the southern EU countries such as Greece (women 36%, men 56%) and Slovenia (women 38%, men 60%).
The Nordics are most likely to leave the nest by their mid-20s with few Swedes still at home by age 34 (women 2%, men 4%) and not many Finns (women 2%, men 8%). Our nearest neighbours in the UK have 10.5% women and 20% of men still at home after 34 years old.
Irish girls slow to commit?
Today's figures also show that Irish women are the least likely in the EU to be living with a partner (married or not) with just 34% of 18 to 34 year-olds doing so. This fits with the CSO figure of the average marriage age for Irish women which is 31 years. Irish men are amongst the least likely to be committed by 34 years at 25.5% but behind Greek men, of whom four-fifths are still not living with a partner at that age.
The most likely to be living with a partner are the Finns and the Swedes. In the UK 49% of women and 39% of men are doing so by the age of 34. See Table below.
For the full report go to: http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-SF-10-050/EN/KS-SF-10-050-EN.PDF
These indicators on young adults living with their parents come from a report published by Eurostat, the statistical office of the European Union.
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EU and South Korea sign free trade deal: Irish exports worth €143.6 million in first half of 2010
6 October 2010 - EU Trade Commissioner Karel De Gucht, the Belgian Minister of Foreign Affairs Steven Vanackere representing the Presidency of the Council of the European Union (EU), and the Korean Minister for Trade Kim Jong-hoon today signed a Free Trade Agreement (FTA) between the EU and South Korea.
This is good news for Irish companies that exported €143.6 million of goods to South Korea between January and June of 2010. Imports were worth about €105.8 million for this period.
This FTA is the most ambitious trade agreement ever negotiated by the EU and the first with an Asian country. Today's signature signals a significant step on the road to its implementation and is one of the main events of the EU-Korea Summit taking place in Brussels today.
"The agreement between the EU and South Korea marks a significant achievement in improving our trade links. It will provide a real boost to jobs and growth in Europe at this critical time. This wide-ranging and innovative deal is a benchmark for what we want to achieve in other trade agreements", said Commissioner De Gucht. "Tackling the more difficult non-tariff barriers to international commerce can cut the costs of doing business as much if not more than getting rid of import duties."
The text of the FTA was initialled between the European Commission and South Korea on 15 October 2009. Since then the text of the Agreement was translated into Korean and 21 EU languages. All EU Member States have signed the FTA ahead of today's official signing ceremony.
The date of provisional application will be 1 July 2011, provided that the European Parliament has given its consent to the FTA and the Regulation of the European Parliament and of the Council implementing the bilateral safeguard clause of the EU-South Korea FTA is in place. The EU Member States will have to also ratify the agreement according to their own laws and procedures.
One study estimates that the deal will create new trade in good and services worth €19.1 billion for the EU; another study calculates that it will more than double the bilateral EU-South Korea trade in the next 20 years compared to a scenario without the FTA. The agreement will remove virtually all import duties between the two economies as well as many non-tariff barriers. It will relieve EU exporters of industrial and agricultural goods to South Korea from paying tariffs. Once the duties are fully eliminated, EU exporters will save € 1.6 billion annually. Half of these savings will be applicable already on the day of the entry into force of the Agreement.
The FTA will also create new market access in services and investment and will make major advances in areas such as intellectual property, procurement, competition policy and trade and sustainable development.
Background
EU-South Korea goods trade was worth around €54 billion in 2009. The EU currently runs a deficit with South Korea in goods trade, although trends suggest that the Korean market offers significant growth potential. For products like chemicals, pharmaceuticals, auto parts, industrial machinery, shoes, medical equipment, non-ferrous metals, iron and steel, leather and fur, wood, ceramics, and glass, the EU enjoys a solid trade surplus. Similarly, for agricultural products South Korea is one of the more valuable export markets globally for EU farmers, with annual sales of over €1 billion. On services, the EU has a surplus with South Korea of €3.4 billion, with exports of €7.8 billion in 2008 and imports of €4.4 billion.
In terms of tariffs, South Korea and the EU will eliminate 98.7% of duties in trade value for both industrial and agricultural products within 5 years from the entry into force of the FTA. By the end of the transitional periods, duties will be eliminated on almost all products, with a few exceptions in the agricultural sector. This is the most ambitious trade coverage ever achieved in a FTA negotiated by the EU.
For further information
Memo on the EU-South Korea FTA
Ten key benefits of the EU-South Korea FTA
EU-South Korea trade
The text of the Agreement
Key elements of the agreement: "EU-South Korea FTA quick reading guide"
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The "Innovation Union" – turning ideas into jobs, green growth and social progress
6 October 2010 - The European Commission's "Innovation Union", tabled today, sets out a strategic approach to innovation, driven by the highest political level. The Innovation Union will focus Europe's efforts – and co-operation with third countries - on challenges like climate change, energy and food security, health and an ageing population.
It will use public sector intervention to stimulate the private sector and to remove bottlenecks which stop ideas reaching the market. These include lack of finance, fragmented research systems and markets, under-use of public procurement for innovation and slow standard setting. The Innovation Union is a "flagship" in the Europe 2020 Strategy.
Máire Geoghegan-Quinn, Commissioner for Research, Innovation and Science and Vice- President Antonio Tajani, responsible for industry and entrepreneurship said, "If we do not transform Europe into an Innovation Union, our economies will wither on the vine while ideas and talent go to waste. Innovation is the key to building sustainable growth and fairer and greener societies. A sea change in Europe's innovation performance is the only way to create lasting and well-paid jobs that withstand the pressures of globalisation."
A new study shows that meeting the Europe 2020 target of increasing R&D investment to 3 percent of GDP could create 3.7 million jobs and increase annual GDP by up to €795 billion by 2025. One million extra researchers will be needed.
Ten key elements in the Innovation Union
• European Innovation Partnerships will mobilise stakeholders – European, national and regional, public and private - behind well-defined goals in areas which combine tackling societal challenges with potential for Europe to become a world leader. The Partnerships will step up R&D, coordinate investment, speed up standards and mobilise demand. The Commission will provide "seed corn" funds to attract stakeholder funding. A pilot Partnership on active and healthy ageing will be launched by early 2011, aiming to extend by two years by 2020 the proportion of our lives in which we enjoy good health. More partnerships will follow on areas such as energy, "smart" cities and mobility, water efficiency, non-energy raw materials and sustainable and productive agriculture.
• The Commission has assembled 25 indicators in an "Innovation Union Scoreboard", and a checklist of the features of successful innovation systems. A new indicator will be developed on the share of fast-growing innovative companies in the economy. The Commission will support an independent ranking system for universities.
• The Commission will bring forward measures to improve access to finance. It will propose a cross-border venture capital regime, work with the European Investment Bank to scale up EU schemes like the Risk-Sharing Finance Facility and appoint a leading figure to strengthen cross-border matching of innovative firms with investors.
• Existing research initiatives will be stepped up. The Commission will propose measures to complete the European Research Area – a legal requirement under the Lisbon Treaty - by 2014. This means more coherence between European and national research policies, cutting red tape and removing obstacles to researchers' mobility, such as the lack of transferability of pension rights. It also means maximising open access to results of publicly-funded research. FP8 will be designed to support Europe 2020. The European Research Council and the European Institute of Innovation and Technology will be further developed. The Commission will reinforce the scientific base for policy making through its Joint Research Centre.
• The Commission will set up in 2011 a European Design Leadership Board and a European Design Excellence Label.
• The Commission will launch in 2011 a major research programme on public sector and social innovation and pilot a European Public Sector Innovation Scoreboard. It will launch a European Social Innovation Pilot to provide expertise for social innovators and propose social innovation as a focus of European Social Fund programmes. It will consult social partners on spreading the innovation economy to all occupational levels.
• The Commission proposes that governments set aside dedicated budgets for public procurement of innovative products and services. This should create a procurement market worth at least €10 billion a year for innovations that improve public services. The Commission will offer guidance on joint procurements between contracting entities from different Member States.
• In early 2011, the Commission will make a legislative proposal to speed up and modernise standard-setting to enable interoperability and foster innovation.
• Europe's intellectual property regime needs to be modernised. Agreement on theEU Patent would save business €250 million a year. The Commission will in 2011 make proposals for a European knowledge market for patents and licensing.
• Structural funding and state aid frameworks will be reviewed to boost innovation. The Commission will assist Member States to use better the € 86 billion of structural funds programmed for research and innovation for 2007-13. It will propose a framework for post 2013 Structural Funds with more focus on innovation. In 2011 it will review the state aid framework.
The Innovation Union will be discussed at the Competitiveness Council on 12 October and at the European Council in December. Progress will be monitored as part of the governance of the Europe 2020 Strategy. An annual Innovation Convention will discuss the state of the Innovation Union.
More information
Turning Europe into a true Innovation Union: FAQ
Innovation Union website
http://ec.europa.eu/enterprise/policies/innovation/index_en.htm
http://www.facebook.com/innovation.union
http://twitter.com/innovationunion
http://blogs.ec.europa.eu/innovationunlimited/
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EU Farm Commissioner Dacian Cioloş visits Ireland
1 October 2010 - EU Agriculture Commissioner Dacian Cioloş is visiting Ireland to witness Irish farming first hand.
This morning, he met with Minister for Agriculture Brendan Smith TD and Community, Gaeltacht and Rural Affairs Minister, Pat Carey TD, to discuss the future of the EU’s Common Agriculture Policy. After a brief meeting with An Taoiseach Brian Cowan TD, he addressed the Joint Oireachtas Committee on Agriculture. This afternoon he travels to Backweston to talk to stakeholders from the Irish farming sector. He will then visit a dairy farm in County Kildare.
"The visit is very useful as it gives me a chance to learn more about Irish agriculture just as we are drawing up our blueprint on the future of the Common Agriculture Policy. We hope to publish our ideas in mid-November", the Commissioner told the Oireachtas Committee.
"Agriculture is not only important for its considerable contribution to supplying European citizens with safe and sufficient food, but it also provides increasingly important environmental benefits to society, for example, in Ireland, through the grass-based, extensive livestock tradition. From a broader perspective, too, agriculture remains a major factor in maintaining the social fabric and landscape of rural areas," the Commissioner stated. "I believe these benefits give us good arguments to support a strong, forward-looking CAP after 2013," he added.
Click here for the full text of the Commissioner's address to the Joint Oireachtas Committee on Agriculture, Fisheries and Food.
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.jpg "Commissioner Máire Geoghegan-Quinn")
