European Commission
united-kingdom

Belfast,Thursday 24 September 2009

Head of Office: Maurice Maxwell

Commission adopts legislative proposals to strengthen financial supervision in Europe

The European Commission has adopted an important package of draft legislation to significantly strengthen the supervision of the financial sector in Europe. The aim is to reinforce financial stability throughout the EU; to ensure that the same basic technical rules are applied and enforced consistently; to identify risks in the system at an early stage; and to be able to act together far more effectively in emergency situations. The legislation will create a new European Systemic Risk Board (ESRB) to detect risks to the financial system as a whole with a critical function to issue early risk warnings to be rapidly acted on. It will also set up a European System of Financial Supervisors (ESFS), composed of national supervisors and three new European Supervisory Authorities for the banking, securities and insurance and occupational pensions sectors. European Commission President José Manuel Barroso said: "Financial markets are European and global, not only national. Their supervision must also be European and global. Today we are proposing a new European supervisory system, with the political backing of the Member States and based on the de Larosière report. Our aim is to protect European taxpayers from a repeat of the dark days of autumn 2008, when governments had to pour billions of euros into the banks. This European system can also inspire a global one and we will argue for that in Pittsburgh". For more information, see MEMO/09/404

€14.8 million of EU funding to help former Dell workers in Ireland

The European Commission has approved an application from Ireland for assistance from the European Globalisation adjustment Fund (EGF).  The grant of €14.8 million will help 2 400 redundant workers in the computer industry to find new jobs. The application, one of the first to benefit from the new EU crisis measures, will now go to the European Parliament and the Council of the EU for agreement. "The economic crisis is affecting all European countries but Limerick and the surrounding area have been hit hard by job losses at the local Dell plant and its suppliers", said President Barroso. "The EU is built on solidarity. Our natural response is to come to the aid of those who are experiencing difficulties and to take decisive action to tackle the jobs impact of the crisis. The EGF is one way the EU is helping redundant workers back into jobs, and I am glad that these workers will be able to benefit from the help the EGF can provide."

Belfast set for a taste of Europe

Local schools and colleges will mark European Day of Languages this week with special events across Northern Ireland to celebrate linguistic and cultural diversity. European Day of Languages is officially celebrated on 26 September in 47 countries across Europe to raise awareness of the value of languages and to promote language learning. On Friday 25 September, pupils from Belfast High School willcelebrate European Day of Languages with a special assembly which will showcase their linguistic skills. European Day of Languages is also perfect timing to launch the annual Opportunity Europe Fair and Exhibition, which will take place on 20-21 October in St. George's Market, Belfast. Promoted by Belfast City Council and the European Commission Office in Northern Ireland, Opportunity Europe attracts thousands of schoolchildren each year.  The event highlights the importance of Northern Ireland's European links and provides young people with information on working, studying, volunteering and travelling in Europe. Maurice Maxwell, Head of the European Commission Office in Northern Ireland, said: "European Day of Languages is a key opportunity for Northern Ireland to promote linguistic and cultural diversity.  Together with Opportunity Europe, it highlights the importance of language skills in business, employment, travel and building links with our European neighbours". Councillor David Rodway from Belfast City Council's Development Committee said: “We as a Council recognise the importance of taking our place in Europe and equipping citizens with the right skills to avail of the opportunities that exist in Europe. The Opportunity Europe programme allows us to do this in fun, interesting and interactive ways. We look forward to hosting the schools next month in St. George’s for what will be an exciting day out.” Dr Eugene McKendry, Director of the QUB-based Northern Ireland Centre for Information on Language Teaching and Research (NICILT), local co-ordinators of the European Day of Languages, said: "The European Day of Languages has become a focus for local schools and language interests to highlight the importance and enjoyment of language learning and wider cultural awareness.  NICILT is grateful to the European Commission Office and Belfast City Council for their support in encouraging awareness among the general public through Opportunity Europe." Opportunity Europe is organised by the European Commission Office in Northern Ireland and Belfast City Council and supported by Northern Ireland CiLT, the British Council, the Office of the First and Deputy First Minister, the NI Council of the European Movement, the Department for Culture, Arts and Leisure, the Volunteer Development Agency and Bryson Group. The Opportunity Europe programme of events is available at:  http://ec.europa.eu/northernireland or www.belfastcity.gov.uk/europe. 

Top News

European Commission's Top News Agenda for 21 September – 18 October 2009

Information on the EU is also available at http://ec.europa.eu/northernireland .  For a full list of press releases issued by the European Commission, please go to: http://europa.eu/rapid .  For information on any of the above items, please contact Catherine McShane on 028 9024 0708.