EUROPEAN COMMISSION DAILY NEWS – 02 JULY

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EUROPEAN COMMISSION DAILY NEWS - 02 JULY
02 Jul 2015

EUROPEAN COMMISSION DAILY NEWS – 02 JULY

Brussels Daily

Vice-President Maroš Šefčovič on Energy Union Tour

Within the framework of the “Energy Union Tour“, Vice-President Šefčovič will visit Lisbon on 2of July. The Vice-President will discuss with a host of national actors and stakeholders the benefits of the Energy Union for Portugal and the challenges ahead. His visit will include meetings with Prime Minister Pedro Passos Coelho, with Minister of Environment, Spatial Planning and Energy, Jorge Moreira da Silva and a joint hearing with parliamentary committees at the National Parliament. Moreover, during his trip Maroš Šefčovič will meet industrial representatives, think tanks, civil society organisations active in the Energy Union field, students and other citizens with whom he will discuss and debate in the framework of Citizens dialogues. 

State aid: Commission approves prolongation of Irish credit union resolution scheme

The European Commission has approved the prolongation of an Irish scheme for the orderly winding-up of credit unions until 31 December 2015 under EU state aid rules. Credit unions are financial cooperatives that provide access to credit and savings facilities to their members. They are regulated by the central bank and required under Irish legislation to keep a minimum reserve as a buffer to absorb losses before they can have any impact on deposits and deposit guarantees. The objective of the scheme is to safeguard financial stability and protect the interests of depositors when a credit union is unable to meet regulatory requirements. The Commission initially approved the scheme in December 2011 and it was prolonged several times, the last time in January 2015. The prolonged measures are well targeted, proportionate and limited in time and scope. The Commission therefore concluded that the scheme was in line with EU state aid rules, and in particular the 2013 Banking Communication. More information will be available on the Commission’s competition website, in the public case register under the reference SA.42083.

Read today’s edition in full:Daily News 02 – 07 – 2015

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