Main news from Brussels this week
date: 03/05/2019
EU loans to boost access to finance for young farmers
On 29 April, the European Commission and the European Investment Bank (EIB) launched a €1 billion loans package specifically targeting young farmers. In 2017, 27% of the loan applications submitted to banks by EU young farmers were rejected, compared to only 9% for other farms. The programme will be managed at member state level by banks and leasing companies operating across the EU. Participating banks should match the amount committed by the EIB, therefore bringing the total amount to a potential €2 billion, with priority given to young farmers.
Mastercard and Visa to cut inter-regional interchange fees
On 29 April, the European Commission made commitments offered by Mastercard and Visa to cut inter-regional interchange fees legally binding under EU antitrust rules. The companies will significantly reduce (on average by around 40%) their multilateral interchange fees for payments in the European Economic Area (EEA) with consumer cards issued elsewhere. In turn this will reduce the costs for retailers in the EEA when they accept payments made with cards issued outside the EEA. This is expected to lead to lower prices to the benefit of all European consumers.
20,000 more travel passes available for 18-year-olds to experience Europe
On 2 May, the European Commission launched a new call for applications for DiscoverEU travel passes. All 18-year-olds in the EU have until 16 May 2019 to apply for the opportunity to travel free around Europe between 1 August 2019 and 31 January 2020. This new application round follows a very successful first year for the initiative that enabled young people to explore Europe's cultural diversity and shared values. So far, DiscoverEU has given around 30,000 young people the opportunity to travel around Europe, explore the continent's rich cultural heritage, get in touch with other people, learn from other cultures and experience what unites Europe. The new applicants must be born between 2 July 2000 and 1 July 2001 (included) and be prepared to travel between 1 August 2019 and 31 January 2020 for a maximum period of 30 days. Those interested in taking part can apply via the European Youth Portal. An evaluation committee will assess and select successful applicants who will be notified of the results in June 2019.
European Commission strengthens its oversight with a modern and robust anti-fraud system
The European Commission adopted on 29 April its new anti-fraud strategy that seeks to further improve the detection, sanctioning and prevention of fraud. The strategy will support the Commission's ongoing efforts to further reduce fraud against the EU budget. It pushes for more consistency and better coordination in the fight against fraud among the various Commission departments and paves the way for more data-driven, anti-fraud measures in the coming years.
Measures to protect steel producers from unfair trade
On 3 May, the European Commission published its first anti-dumping and anti-subsidy measures based on a new methodology for imports from countries with significant market distortions. The measures will ensure fair market conditions for EU producers of organic coated steel, used mainly in the construction sector. The measures on Chinese imports put in place initially in 2013 will now be extended for another five year period. The duties range from 13.7% to 58.3%. This is one more example of the Commission's consistent action to support the European steel industry when confronted with unfair trade. There are 52 EU anti-dumping and anti-subsidy measures currently in place concerning steel products and shield 141,000 direct jobs in the sector. The value of the European market of organic coated steel is estimated at €4 billion.
All this week's key European Commission announcements can be found here