The European Union is built on fundamental principles of human rights and democracy. Its treaties set out the objectives of a highly competitive social-market economy, aiming at full employment and social progress, with protection and amelioration of the environment and an assault on social exclusion.
But such progress is not guaranteed: it depends on sound laws and regulations, which must be elaborated in an objective and transparent way and then consistently enforced. That is why the European Trade Union Confederation is actively involved in developing EU legislation and, having recently passing a resolution on better regulation for all, has launched a discussion with the European institutions.
Read more at:
Making EU regulation better for all – Isabelle Schömann
Showing posts with label Regulations. Show all posts
Showing posts with label Regulations. Show all posts
8/14/18
USA: Donald Trump axing all life saving regulations protecting Americans - by Robert Reich
From bad to worse - Trump is taking America down the drain
1/19/16
Overfishing: Marine Life Drops by Half since 1970
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| Floating Fish Processing ship |
The Living Blue Planet Report cites that species essential to the global food supply are among the hardest hit, partially due to humans catching them faster than they can reproduce. Large swaths of coral reefs, mangroves and sea grasses have also died, further decimating fish populations.
Statistics show that the family of fish that includes tuna and mackerel has declined by 75 percent since 1970. The number of species is also declining; a quarter of all shark and ray species face extinction. Half of all coral has already disappeared, and the rest will vanish by 2050 if temperatures continue to rise at current rates.
“Coral reefs occupy less than 1 percent of the ocean surface, but they harbor a third of ocean species,” says French biologist Gilles Boeuf.
The WWF report argues that protected global ocean area should be tripled by 2020 and fish retailers should source from companies that follow certified best practice standards.
EU-Digest
12/19/15
Poland: Alternative energy: Polish wind farm sector faces uncertainty over new planning rules - by Agnieszka Barteczko
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| Windpower in Poland |
Under European Union rules, Poland – which generates most of its electricity from highly polluting coal – has to produce 15 percent of its electricity from renewable sources by 2020 compared to around 12 percent now.
Since 2005, installed wind farm capacity has risen from 83 megawatt (MW) to more than 4 gigawatt (GW), taking Poland closer to the target but more is needed to comply with the EU target.
A parliament committee asked the government earlier this week to look into how wind farms are being built in the countryside. It said new regulations were needed regarding the distance between wind farms and houses.
5/20/14
Banking Industry: EU - You won’t believe this, but some big banks may have broken the law again – by Jason Karaian
Today the European Commission accused JPMorgan, HSBC, and Crédit Agricole with rigging euro interest rates, alleging that they acted in a cartel to manipulate Euribor, a key interbank lending rate.
The three banks refused to settle the antitrust case in December last year, when the commission fined eight other banks and brokers a record €1.7 billion ($2.3 billion) for their roles in the rate-rigging cartel. Settling the case saved the accused 10% of the headline fine, on top of other discounts based on their degree of co-operation with regulators.
JPMorgan,
HSBC, and Crédit Agricole must now answer the commission’s charges
without the offer of leniency that comes from settling.
That said, throughout the financial crisis European regulators have been seen as softer than their American counterparts, with Brussels wielding more limited powers and showing less of an appetite to impose big penalties. Even after settling with the EU in last year’s euro interest rate case, Société Générale is challenging its €446 million fine in court, alleging “a manifest error of assessment” in calculating it.
That said, throughout the financial crisis European regulators have been seen as softer than their American counterparts, with Brussels wielding more limited powers and showing less of an appetite to impose big penalties. Even after settling with the EU in last year’s euro interest rate case, Société Générale is challenging its €446 million fine in court, alleging “a manifest error of assessment” in calculating it.
The
three banks that were charged today will hope to benefit from the
eurocrats’ presumed timidity. In theory, EU cartel fines carry a penalty
of up to 10% of a company’s global revenue, which would imply a
combined fine of more than $18 billion, according to the bank’s latest
annual results.
Note EU-Digest: one can only hope the EU Commission will not act with their usual
timidity in dealing with this serious fraudulent issues.
Read more: You won’t believe this, but some big banks may have broken the law again – Quartz
1/6/13
Food exporters to European Union face tougher rules -
Kenyan vegetable exporters to the European Union face tougher mandatory compliance procedures starting this month as new food safety rules take effect.
The Horticultural Crops Development Authority (HCDA) said that from January 1, all exporters of key vegetables to the bloc will have to provide details of the safety standards of their produce. “All exporters of beans and peas including French beans, runner beans, sugar snaps, snow peas and garden peas are required to fill the common entry document Annex II in line with new EU requirements,” it said in a notice.
The European Parliament has adopted tough measures on food safety in which all consignments entering the bloc must be subject to thorough scrutiny right from the point of origin.
Under the new regulations, exporters to the EU will be required to fill a Common Entry Document (CED) which would be counter checked by authorities to confirm compliance with all safety controls on harmful elements such as Aflatoxins, pesticide residues and metals such as lead.
“We hope to fit in with the new requirements because a lot of sensitisation is going on. We hope many will comply,” Joseph Ndirangu, a vegetable grower, said on phone. Kenyan fresh produce exports to Europe have in the past two years come under threat as authorities in the target market tightened health controls on items such pesticides.
Read more: Food exporters to European Union face tougher rules - Politics and policy - businessdailyafrica.com
The Horticultural Crops Development Authority (HCDA) said that from January 1, all exporters of key vegetables to the bloc will have to provide details of the safety standards of their produce. “All exporters of beans and peas including French beans, runner beans, sugar snaps, snow peas and garden peas are required to fill the common entry document Annex II in line with new EU requirements,” it said in a notice.
The European Parliament has adopted tough measures on food safety in which all consignments entering the bloc must be subject to thorough scrutiny right from the point of origin.
Under the new regulations, exporters to the EU will be required to fill a Common Entry Document (CED) which would be counter checked by authorities to confirm compliance with all safety controls on harmful elements such as Aflatoxins, pesticide residues and metals such as lead.
“We hope to fit in with the new requirements because a lot of sensitisation is going on. We hope many will comply,” Joseph Ndirangu, a vegetable grower, said on phone. Kenyan fresh produce exports to Europe have in the past two years come under threat as authorities in the target market tightened health controls on items such pesticides.
Read more: Food exporters to European Union face tougher rules - Politics and policy - businessdailyafrica.com
7/7/12
For Europe's markets, latest gloom is from US
Europe's financial markets turned abruptly negative on Friday, prompted for once by disappointing data from the United States - rather than the eurozone - but underlining the fragility of a currency union caught in the grip of a debt crisis and an alarming global economic slowdown.
The latest bout of gloom, darkened by a worse-than-expected jobs report from Washington, seems to have doused any residual glimmers of optimism that greeted last week's agreement by European Union leaders to use the region's bailout funds to prop up weak banks while beginning longer-term work toward a more fully integrated banking system for the eurozone.
But since then there have been too many negative indicators, including the release of record-high unemployment data for the eurozone this past week and acknowledgment by three big central banks that additional measures were needed to stimulate moribund economies.
Read more: For Europe's markets, latest gloom is from US - The Economic Times
The latest bout of gloom, darkened by a worse-than-expected jobs report from Washington, seems to have doused any residual glimmers of optimism that greeted last week's agreement by European Union leaders to use the region's bailout funds to prop up weak banks while beginning longer-term work toward a more fully integrated banking system for the eurozone.
But since then there have been too many negative indicators, including the release of record-high unemployment data for the eurozone this past week and acknowledgment by three big central banks that additional measures were needed to stimulate moribund economies.
Read more: For Europe's markets, latest gloom is from US - The Economic Times
10/19/11
EU adopts stricter rules on short selling
The European Union agreed Tuesday to more strictly regulate the short selling of shares and bonds and to ban so-called "naked" credit default swaps on government bonds, moves officials said will contribute to financial stability.
After long discussions, representatives of the European Parliament and EU member states reached a compromise on the new rules, which restrict practices critics say have exacerbated financial crises and market selloffs.
The regulation seeks to differentiate between investors who use short-sales as a legitimate tool to hedge, or insure, potential losses on other assets like shares or bonds, and speculators, who may be trying to make a profit by influencing market moves.
For more: EU adopts stricter rules on short selling - CBS News
After long discussions, representatives of the European Parliament and EU member states reached a compromise on the new rules, which restrict practices critics say have exacerbated financial crises and market selloffs.
The regulation seeks to differentiate between investors who use short-sales as a legitimate tool to hedge, or insure, potential losses on other assets like shares or bonds, and speculators, who may be trying to make a profit by influencing market moves.
For more: EU adopts stricter rules on short selling - CBS News
9/29/11
Wall Street, Financial Market Traders - Its Not About You Or Rescue Packages - Its About Making Money For Themselves
People who believe Wall Street or the Financial Industry give one damn about the interest of the shareholder or for that matter the interest of any country, think again. They don't. Specially today, the enormous volatility in the market is a day-traders wet dream. Due to today's market volatility, you can't swing a dead cat without hitting a stock making a 10%-40% move in one day. You've got large numbers of companies stock like Goldman Sachs, making 30% moves in a few days. One often doesn't realize how incredible that is, major stocks like those mentioned aren't supposed to move like that, they're supposed to be steady, safe investments.
Today selling high, buying low and making a killing on the margins is the name of the game. Unfortunately most, if not all of the profits go into the traders and their company's pocket, not in that of the shareholder.
Today selling high, buying low and making a killing on the margins is the name of the game. Unfortunately most, if not all of the profits go into the traders and their company's pocket, not in that of the shareholder.
Working in the financial Industry has also become extremely popular. Economics and Finance students at Cornell University say its a well known fact that after five years on Wall Street, you could expect to be making half a million a year in salary and bonuses; after 10 years you could expect a million or more.
Unfortunately as the size of the financial industry grew, the original purpose of banking to allocate capital to its most productive uses has been forgotten not only by the bankers, but probably by the public as well. According to Jeff Madrick, who wrote "The Age of Greed: The Triumph of Finance and the Decline of America, 1920 to the Present", the current system that pushes the socially beneficial goals of the industry to the periphery only encourages greed. Now, banking shifts money around the world while rarely increasing market efficiency.
Financial advisors in major trading companies enjoy dealing with derivatives and often funneling income to offshore holding companies, so rich people and corporations don't have to pay taxes. These trading companies have lawyers on retainer in the Cayman Islands and Jersey – and a quick phone call to them will set it all up, no more taxes for their clients. This is not what the financial industry should be doing, this is basically criminal behavior.
Like one Wall Street analyst said: "Governments don't control today's world, Goldman Sachs does."
To prove the above point also see the BBC news clip "Financial Armageddon Imminent 2011"
As for those who continue watching and listening to those fast talking, so-called, financial "Gurus" on Fox News, CNBC, CNN and other corporate owned News Media, please take it for what this really represents -Corporate Orchestrated Populist Financial Reality Shows.
EU-Digest
EU-Digest reports can be published without permission
only if EU-Digest is quoted as the source.
9/25/11
US Republican Party: We need a ‘time out’ from regulations – ( who are they kidding ?)
For the second week in a row, Republicans called for the downsizing of federal regulations in the private sector.
“We Republicans say, enough is enough,” said Sen. Susan Collins of Maine in the GOP weekly address Saturday. “America needs a ‘time out’ from the regulations that discourage job creation and hurt our economy.”
Her speech follows weeks of intense debate in Washington over ways to jump-start the economy, including President Barack Obama’s proposed $447 billion jobs plan. But Republicans insist that government “over-regulation” is perhaps the biggest factor standing in the way of job growth.
Note EU-Digest: "Who are they kidding? Have they forgotten what got the US into this mess?"
For more: GOP: We need a ‘time out’ from regulations – CNN Political Ticker - CNN.com Blogs
“We Republicans say, enough is enough,” said Sen. Susan Collins of Maine in the GOP weekly address Saturday. “America needs a ‘time out’ from the regulations that discourage job creation and hurt our economy.”
Her speech follows weeks of intense debate in Washington over ways to jump-start the economy, including President Barack Obama’s proposed $447 billion jobs plan. But Republicans insist that government “over-regulation” is perhaps the biggest factor standing in the way of job growth.
Note EU-Digest: "Who are they kidding? Have they forgotten what got the US into this mess?"
For more: GOP: We need a ‘time out’ from regulations – CNN Political Ticker - CNN.com Blogs
5/1/11
New EU regulations on herbal medicines come into force
New European Union rules have come into force banning hundreds of traditional herbal remedies. The EU law aims to protect consumers from possible damaging side-effects of over-the-counter herbal medicines.
For the first time, new regulations will allow only long-established and quality-controlled medicines to be sold.
For more: BBC News - New EU regulations on herbal medicines come into force
For the first time, new regulations will allow only long-established and quality-controlled medicines to be sold.
For more: BBC News - New EU regulations on herbal medicines come into force
12/30/10
Wall St's 10 Biggest Lies of 2010 - by Les Leopold
What a great year for Wall Street: profits up, bonuses up and, best of all, criticism down, especially from Washington. Somehow Wall Street has much of America believing its lies and rationalizations. We're even beginning to forget that Wall Street is largely responsible for the economic mess we're in.
Two years ago Wall Street's colossal greed crashed our economy. Our financial elites created and spewed highly leveraged toxic assets around the globe. These poisonous "innovations" pumped up the housing bubble and Wall Street grew insanely rich in the process. When it all burst, we learned that the big Wall Street institutions that had caused the crash were far too big to fail -- and too connected. High government officials came to their rescue with trillions in cash and guarantees -- underwritten, of course, by we taxpayers. Everyone knew this at the time. But if you asked just about anyone on "The Street" they denied all culpability and pointed the finger everywhere else: Fannie, Freddie, the Fed, the Community Reinvestment Act, tax deductions for home buying, bad regulations, not enough regulations, too many regulations, too much consumer debt, the rating agencies, the Chinese -- and on and on. Sadly, their blame-shifting strategy worked, bamboozling the media and people across the political spectrum.
Two years ago Wall Street's colossal greed crashed our economy. Our financial elites created and spewed highly leveraged toxic assets around the globe. These poisonous "innovations" pumped up the housing bubble and Wall Street grew insanely rich in the process. When it all burst, we learned that the big Wall Street institutions that had caused the crash were far too big to fail -- and too connected. High government officials came to their rescue with trillions in cash and guarantees -- underwritten, of course, by we taxpayers.
Everyone knew this at the time. But if you asked just about anyone on "The Street" they denied all culpability and pointed the finger everywhere else: Fannie, Freddie, the Fed, the Community Reinvestment Act, tax deductions for home buying, bad regulations, not enough regulations, too many regulations, too much consumer debt, the rating agencies, the Chinese -- and on and on. Sadly, their blame-shifting strategy worked, bamboozling the media and people across the political spectrum.
The Republicans and Blue Dog Democrats aren't about to let Obama seriously regulate Wall Street, even if he wanted to, which he doesn't. The truth is that employers aren't hiring because there's insufficient consumer demand for goods and services. But at least Peter Orszag is a man of his word. He personally plans to "improve the relationship between business and government" by tapping his government contacts at his new fat job at Citigroup, the nearly failed mega-bank that he helped to save at taxpayer expense. Orszag could have landed a coveted professorship at just about any university in the world. But apparently the 42-year-old wiz kid prefers Citigroup's multi-million dollar compensation package. Any bets on how long it takes for Larry Summers to cash in?
For the complete report click on : Wall St's 10 Biggest Lies of 2010 | | AlterNet
Two years ago Wall Street's colossal greed crashed our economy. Our financial elites created and spewed highly leveraged toxic assets around the globe. These poisonous "innovations" pumped up the housing bubble and Wall Street grew insanely rich in the process. When it all burst, we learned that the big Wall Street institutions that had caused the crash were far too big to fail -- and too connected. High government officials came to their rescue with trillions in cash and guarantees -- underwritten, of course, by we taxpayers. Everyone knew this at the time. But if you asked just about anyone on "The Street" they denied all culpability and pointed the finger everywhere else: Fannie, Freddie, the Fed, the Community Reinvestment Act, tax deductions for home buying, bad regulations, not enough regulations, too many regulations, too much consumer debt, the rating agencies, the Chinese -- and on and on. Sadly, their blame-shifting strategy worked, bamboozling the media and people across the political spectrum.
Two years ago Wall Street's colossal greed crashed our economy. Our financial elites created and spewed highly leveraged toxic assets around the globe. These poisonous "innovations" pumped up the housing bubble and Wall Street grew insanely rich in the process. When it all burst, we learned that the big Wall Street institutions that had caused the crash were far too big to fail -- and too connected. High government officials came to their rescue with trillions in cash and guarantees -- underwritten, of course, by we taxpayers.
Everyone knew this at the time. But if you asked just about anyone on "The Street" they denied all culpability and pointed the finger everywhere else: Fannie, Freddie, the Fed, the Community Reinvestment Act, tax deductions for home buying, bad regulations, not enough regulations, too many regulations, too much consumer debt, the rating agencies, the Chinese -- and on and on. Sadly, their blame-shifting strategy worked, bamboozling the media and people across the political spectrum.
The Republicans and Blue Dog Democrats aren't about to let Obama seriously regulate Wall Street, even if he wanted to, which he doesn't. The truth is that employers aren't hiring because there's insufficient consumer demand for goods and services. But at least Peter Orszag is a man of his word. He personally plans to "improve the relationship between business and government" by tapping his government contacts at his new fat job at Citigroup, the nearly failed mega-bank that he helped to save at taxpayer expense. Orszag could have landed a coveted professorship at just about any university in the world. But apparently the 42-year-old wiz kid prefers Citigroup's multi-million dollar compensation package. Any bets on how long it takes for Larry Summers to cash in?
For the complete report click on : Wall St's 10 Biggest Lies of 2010 | | AlterNet
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