Brussels Daily
07 Nov 2016


Brussels Daily


Preparation of the ECOFIN and Eurogroup meetings, 7-8 November 2016

Vice-President Dombrovskis and Commissioner Moscovici will represent the Commission at today’s Eurogroup meeting. The Eurogroup will take stock of the situation in Greece in the context of the Greek stability support programme and the Commission will present the first report on the technical assistance provided to the Greek authorities through the Structural Reform Support Service (SRSS). The ministers will also be updated on the first post-programme surveillance mission to Cyprus as well as on the sixth post-programme surveillance mission to Spain, which took place earlier this autumn. As part of the Eurogroup’s regular thematic discussions on jobs and growth, the ministers will follow up on the issue of national insolvency frameworks. Finally, the European Central Bank’s (ECB) Supervisory Board and the Single Resolution Board (SRB) will update the Eurogroup on their work. A press conference with Commissioner Moscovici will follow the meeting. Vice-President Georgieva, Vice-President Dombrovskis and Commissioner Moscovici will take part in tomorrow’s ECOFIN meeting, where the ministers are expected to have a first exchange of views on the recent proposals for corporate tax reform in the EU, including the re-launched Common Consolidated Corporate Tax Base (CCCTB). Member States are also expected to decide on the next steps in the process towards an EU list of non-cooperative tax jurisdictions, as well as the tax good governance criteria. Also on the agenda are the Fourth Anti-Money Laundering Directive and new rules to give tax authorities access to national anti-money laundering information. The Commission will update the Council on the Regulation on key information documents for packaged retail and insurance-based investment products (PRIIPs) and the Delegated Act on Key Information Documents (KIDs). The Council will also be updated on the implementation of the Banking Union and the state of play of current legislative proposals in the field of financial services. Lastly, the European Court of Auditors will present their annual report on the implementation of the EU budget in 2015. Vice-President Dombrovskis will participate in the press conference concluding the meeting.


Ocean Energy roadmap claims 10% of EU energy needs through wave & tidal by 2050

Tomorrow the Ocean Energy Forum will release a report that charts a path to 10% of Europe’s energy needs being met by tidal and wave energy. The roadmap outlines five main phases for success. These phases would be underpinned by a 250 million euro investment fund and a 70 million euro insurance fund.  Research and Development, Prototype, Demonstration, Pre-Commercial and Industrial roll out could then be delivered along the envisioned timetable. Commissioner for the Environment, Maritime Affairs and Fisheries, Karmenu Vella, who will attend the Ocean Energy Conference in Brussels for the launch of the roadmap, said: “The roadmap estimates that ocean energy could meet up to 10% of the EU’s power demand by 2050, equivalent to cutting 276 million tonnes of CO2 every year”.  The event is part of the EU Ocean Week. On Thursday, Commissioner Vella will announce a Joint Communication prepared with High Representative/Vice-President Federica Mogherini on Ocean Governance. On Saturday (12 November) he will speak at the Oceans Action Day at COP22 in Marrakesh, Morocco and outline the role of the oceans as part of the European efforts to implement the Paris Agreement on Climate Change. “Today is about the sustainable use of the ocean, Thursday we will outline the need for rules and on Saturday in Marrakesh we talk about protection. Each element is a vital part of our strategic approach”. The roadmap will be made available tomorrow at 10:00 am here.  



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