Ministers and MEPs agree on funding for high-performance infrastructure to better connect Europeans
On 8 March the European Commission welcomed the provisional agreement reached by the European Parliament and the Council on the Commission's Connecting Europe Facility (CEF) proposal, as part of the next long-term EU budget 2021-2027. The new programme will enable the European Union to lead the way to climate neutrality and support infrastructure for safe, clean, secure and connected mobility. It will also prioritise environmentally friendly modes of transport such as rail and the development of charging points for vehicles using alternative fuels. By making energy systems better interconnected, smarter and safer, the Connecting Europe Facility (CEF) will help complete the Energy Union and support the clean energy transition.
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EU makes it easier for insurers to invest in the real economy
On 8 March, the European Commission adopted new rules to help insurers to invest in equity and private debt and to provide long-term capital financing. The insurance industry is well-equipped to provide long-term finance by investing in equity and private debt, including of small and medium enterprises (SMEs), but the actual share of their investments in the real economy remains limited. As a result of the changes, insurers will have to hold less capital for such investments and will therefore find it more attractive to invest in the economy. This will further help mobilise private sector investment. The newly adopted rules, which take the form of a delegated regulation, amend the EU prudential rules for the insurance sector, known as Solvency II, and follow up from the mid-term review of the CMU action plan. The amendments will now be subject to a 3 month scrutiny period by the European Parliament and the Council.
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European Commission accepts commitments by Disney, NBCUniversal, Sony Pictures, Warner Bros and Sky on cross-border pay-TV services
On 7 March, the European Commission made commitments offered by Disney, NBCUniversal, Sony Pictures, Warner Bros and Sky legally binding under EU antitrust rules. These commitments address the Commission's concerns regarding certain clauses in these studios' film licensing contracts for pay-TV with Sky UK which prevented EU consumers outside the UK and Ireland subscribing to Sky UK's pay TV services to access films via satellite or online. They also required NBCUniversal, Sony Pictures and Warner Bros to ensure that broadcasters other than Sky UK are prevented from making their pay-TV services available in the UK and Ireland. Disney, NBCUniversal, Sony Pictures and Warner Bros have now committed not to apply these clauses in existing film licensing contracts for pay-TV with any broadcaster in the European Economic Area (EEA). They have also committed to refrain from (re)introducing such clauses in film licensing contracts for pay-TV with any broadcaster in the EEA. Similarly, Sky will neither apply existing clauses nor (re)introduce new ones in its film licensing contracts for pay-TV with Disney, Fox, NBCUniversal, Paramount Pictures, Sony Pictures and Warner Bros.
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European Commission fines car safety equipment suppliers €368 million in cartel settlement
On 5 March, the European Commission fined Autoliv and TRW a total of €368,277,000 for breaching EU antitrust rules. Takata was not fined as it revealed the cartels to the Commission. The companies took part in two cartels for the supply of car seatbelts, airbags and steering wheels to European car producers. All three suppliers acknowledged their involvement in the cartels and agreed to settle the case.
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EU and Qatar reach aviation agreement
On 4 March, the European Commission and the State of Qatar initialled an aviation agreement, the first of its kind between the EU and a partner from the Gulf region. The agreement will upgrade the rules and standards for flights between Qatar and the EU and will set a new global benchmark by committing to strong, fair competition mechanisms, including provisions not normally covered by bilateral air transport agreements, such as social or environmental matters.
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All this week's key European Commission announcements can be found here
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