European Union

Consejo europeo

Charles Michel’s candidacy as MEP could leave acting presidency of the European Council in Hungary’s hands

Banca March : Charles Michael, the current President of the Council, is standing as a candidate in the European Parliament elections in June. If elected, he would have to resign before being sworn in as an MEP on 16 July, bringing his term of office to an end more than four months early. If no replacement were to be found, the Hungarian prime minister would be able to act as…


comisioneuropeaTC

EU adds steelmakers to list of anti-subsidy investigations into Chinese products

Banca March : The European Union adds steel manufacturers to its list of anti-subsidy investigations into Chinese products. On 4 October, the EU began this process on electric vehicles from China; three days ago, it considered the study on windmills; and since yesterday, on steel mills. Washington has asked to create a common front with the European bloc, which would implement greater scrutiny on China, in exchange for avoiding the…


EU chips2

European Parliament approves €3 billion European chip bill aimed at doubling semiconductor production

Banca March: The European Union’s legislative chamber has finally approved the European Chip Law, with which the EU aims to double semiconductor production to 20% of its global production and thus reduce the trend of Taiwan and South Korea with respect to this technological component. The law is organised in three pillars and aims, in addition to increasing Europe’s chip manufacturing capacity, to consolidate its leadership in semiconductor research and…


renewables2

EU to raise renewable generation target from 22% to 42.5% by 2030

Banca March: The European Union is about to confirm that it is raising its renewable energy consumption target from 22% to 42.5% by 2030, a commitment that is expected to boost investment in clean generation sources. The agreement, which updates the current legal target of 32%, is based on a political negotiation concluded in the spring and although it is not yet final, as it will also have to be…


Eurocrisis

EU backtracks on veto on fund sales commissions

Banca March : According to press reports, a provisional draft is circulating that suggests Brussels is backtracking on plans to ban asset managers and insurers from paying financial advisers for recommending their investment products. The aim of the ban was, according to Brussels, to eliminate any conflict of interest and to improve the outcome for the end-investor but it now appears that the measure will not be implemented, limiting the…


UE gas

European Union takes first steps in creation of common gas purchasing pool

Banca March : The new tool called Aggregate EU started its work yesterday and will receive 12-month demand forecasts from June onwards from the different European gas suppliers that wish to participate. From 3 May, these will be aggregated and studied to provide a joint demand proposal that will be launched to the market in search of bids. Finally, on 17 May, the supply and demand matches will be published,…


EU chips2

EU agrees European Chip Bill – €43-billion investment planned to double region’s share of global chip production

Banca March : Negotiators from the European Parliament and the Council reached an agreement on Tuesday to approve the European Chip Act, which will aim to mobilise €43 billion of investment to double the weight of the European Union in the world production of this component. The agreement also broadens the type of facilities to be funded to include not only state-of-the-art manufacturing facilities but also those producing semiconductor manufacturing…


green new deal

EU seeks to emulate one of IRA’s advantages, simplicity of access, by streamlining green investment tax credits

Banco Sabadell: According to press reports, the EU plans to respond to the US $369 billion (€340 billion) Inflation Reduction Act (IRA) by relaxing state aid rules on tax credits for green investments. A portion of the €800 billion NGEU fund could also be directed towards tax credits. By relaxing restrictions on tax credits, the EC seeks to emulate one of the advantages of the IRA, simplicity of access. The…


eu human rights

Calls Are Growing For A European Fiscal Programme

Santander | Calls are growing for a European fiscal programme. Financed by joint SURE-style emissions guaranteed by member states. In this case, to combat the energy and security crisis as proposed in their open letter by EC Commissioners for Economy and Home Affairs Gentiloni and Breton last Monday. Yesterday it was the turn of Von der Leyen, who called for the EU to seek other sources of funding to accelerate…


Intel

Intel to invest up to €80 billion over the next decade to manufacture chips in the EU

U.S. chip giant Intel has announced an initial investment of more than 33 billion euros, rising to 80 billion over the decade, to boost microprocessor production in the European Union, including setting up a mega-factory in Germany, as well as doubling the capacity of its facilities in Ireland, along with other projects in Italy, France, Poland and Spain. This first phase includes the construction of two semiconductor factories in the…