Brussels, 18 June 2021
EU LEADERS ADOPT DIGITAL COVID CERTIFICATE
The Presidents of EU institutions attended the official signing ceremony for the Regulation on the EU Digital COVID Certificate, marking the end of the legislative process. The aim of the EU Digital COVID Certificate is to facilitate safe and free movement inside the EU during the COVID-19 pandemic. As such, the certificate will facilitate travel, exempting holders from restrictions like quarantine. In response to the adoption of the EU Digital COVID certificate, as well as to the evolving epidemiological situation and to the ongoing vaccination campaigns, the Council adopted a recommendation amending the recommendation on a coordinated approach to the restriction of free movement in response to the COVID-19 pandemic.
FIRST RECOVERY PLANS APPROVED, WHILE THE COMMISSION BEGINS RAISING FUNDS
The European Commission has positively assessed the recovery and resilience plans of Greece, Spain, Portugal, and Denmark, and is expected do the same for Austria and Slovakia next week. The Council has now four weeks to assess the plans and eventually approve the respective Council Implementing Decision, following which the initial funds, corresponding to the 13% pre-financing quota, should be disbursed to Member States. In the meanwhile, the Commission started raising capitals under NextGenerationEU. In the first transaction it raised €20 billion via a ten-year bond. The operation is the largest-ever institutional bond issuance in Europe, the largest-ever institutional single tranche transaction, and the largest amount the EU has raised in a single transaction.
EU-US LAUNCH TRADE AND TECHNOLOGY COUNCIL AND SOLVE LARGE CIVIL AIRCRAFT DISPUTE
The EU and the US launched a Trade and Technology Council (TTC) at the US-EU Summit which took place this week. The TTC will serve as a forum for the United States and European Union to coordinate approaches to key global trade, economic, and technology issues and to deepen transatlantic trade and economic relations based on shared democratic values. Moreover, the EU and the US reached an understanding relating to large civil aircraft to overcome long-standing differences and to preserve a level playing field between aircraft manufacturers. They also agreed to suspend application of harmful tariffs worth of USD 11.5 billion for a period of five years.
DEAL ON EU ROAD CHARGING RULES
The European Parliament and the Council reached a political agreement on revised road charging rules under the Eurovignette Directive, to address greenhouse gas emissions and other environmental impacts, congestion, and road infrastructure financing. The Council Presidency noted that the deal is a “crucial element in decarbonising transport and meeting climate targets in line with the European Green Deal and the Paris Agreement.” After some further work at technical level to finalise the text, the Directive will be adopted by the co-legislators before entering into force. Member States will then have two years to transpose the new rules into their national law.
€33 BILLION CONNECTING EUROPE FACILITY PROGRAMME CLOSE TO FORMAL ADOPTION
The Council adopted the EU’s Connecting Europe Facility 2.0 (CEF 2.0) programme, worth €33.71 billion, to fund the development of high-performing, sustainable infrastructure in the fields of transport (€25.81 billion), digital (€2.07 billion) and energy (€5.84 billion). This second edition of the programme will run from 2021 to 2027. The vote by the Council will be followed by final adoption by the European Parliament before being published in the EU Official Journal. The regulation will enter into force the day after its publication. It will apply retroactively from 1 January 2021.
COMING UP NEXT WEEK
Karl Isaksson, Managing Partner Brussels, Kreab
Monday 20 | September | 2021
COVID RECOVERY, CLIMATE CHANGE AND DIGITAL TRANSITION FOCUS OF STATE OF THE UNION SPEECH Ursula von der Leyen ...
Friday 10 | September | 2021
GREEN BOND FRAMEWORK BRINGS EU CLOSER TO €250 BILLION GREEN BONDS ISSUANCE The European Commission adopted an independently ...
Friday 3 | September | 2021
COMMISSION BEGINS DISBURSING PRE-FINANCING UNDER RECOVERY & RESILIENCE FACILITY Following the approval of a total of 16 national ...
Monday 26 | July | 2021
“FIT FOR 55" PACKAGE PAVES WAY TO MEET EU GREEN DEAL AMBITIONS The European Commission released its long-awaited ...
Friday 9 | July | 2021
NEW STRATEGY AND PROPOSAL AIM TO RAISE THE AMBITION ON SUSTAINABLE FINANCE The Commission published its Renewed Sustainable ...
Monday 5 | July | 2021
The Parliament and Council reached an informal agreement on the common agricultural policy (CAP) reform for 2023-2027. The ...
Monday 28 | June | 2021
In the latest two-day regular European Council, EU leaders took stock of the progress of the vaccination campaign ...