General Market

Keynote speech by Commissioner Jonathan Hill at the Economist's Future of Banking Summit

It’s a great pleasure to be here this afternoon. Paris was the first capital I visited after launching our Capital Markets Union Action Plan. So six months on it’s good to have the opportunity to tell you how we have been getting on. And to give you a sense of our priorities for the months ahead as we work to strengthen capital markets in Europe.

Our biggest challenge across Europe, including here in France, is lack of growth.

That is why we must focus on agreeing free trade deals, on renewing our drive in extending the Single Market, on legislating less and legislating better. And I have a responsibility to have this same focus on growth and jobs as I reflect on how to regulate financial services. Yes, I have to worry about financial stability. But we don’t want to see the stability of the morgue. That’s why we need to be careful, to think about the macro-prudential picture and not just the micro-prudential one when we regulate.

In recent years, we’ve done a lot to build a new regulatory and supervisory architecture. It’s been an unprecedented period of legislative activity. As a result, our financial system is stronger and more resilient. Our banks are better capitalised. None of this is in question.

But now, as the Chairman of the Financial Stability Board has said, many of the big reforms have been implemented. Yes, there’s still some unfinished business but I think there’s also a growing sense that we’ve reached the legislative high-water mark and that we’re now entering a new phase. As we do so, I always try to follow some simple principles.

  • legislate only where you have to;
  • always try to understand the impact that you’re having on the market and the economy;
  • keep things proportionate;
  • keep things simple;
  • keep things under review.

Let me say a little bit more about each. If we want businesses to plan ahead and invest, we should look to offer greater certainty. We should aim for a period of greater regulatory stability and only legislate where it is absolutely necessary and where other alternatives won’t work.

My second principle is that regulators should always look to understand the impact of what they do. You shouldn’t regulate in an ivory tower. It is the job of the regulator to decide and to be prepared to over-ride the arguments of industry. But you should always listen to those arguments and see whether there is a more growth-friendly way of achieving the same or similar prudential objectives.

Third, be proportionate. Be sensitive to different business models, different business sizes, and to whether a financial institution is systemic, or not. That’s the approach, for example, that I want to take towards Basel Committee discussions and make sure that we apply international standards proportionately, in a way that makes sense for European business. And that’s the approach we’re taking on the review of the Capital Requirements Regulation and its sister directive CRD4.   I want to look at how we can simplify reporting requirements, and costs that are associated with compliance more generally. I want to know whether we can tighten legislation up, correct technical mistakes, and give more certainty to businesses. I’d like to take a more proportionate approach to smaller banks and take a close look at whether it really makes sense to have the same compliance requirements for all banks and business models.

Fourth, keep it simple. To my mind, the more complex the rules – the more you try and have a rule for every situation – the less well they are likely to work. The more individuals are likely to ask, “can I get away with this within the rules?”, rather than “is this the right thing to do?”. The more you employ lawyers and staff up compliance departments, the less likely individuals and managers are to take personal responsibility.

Fifth, keep it under review. We need to check that the legislation we have passed in recent years to get the crisis under control is working as we had hoped. Because while the basic regulatory framework has made our financial system stronger, when you’re firefighting, legislating at speed and under stress, it’s difficult to get everything completely right.  

That’s why we’ve launched a call for evidence. It has just ended. We’re now working through the hundreds of responses we’ve received. Three early themes are emerging which give me confidence we are right to be asking these questions. Respondents have said that in places our legislation isn’t proportionate enough; that it’s weighing down on the amount of financing available to the wider economy; and that the compliance burden is too high. Once we’ve completed our analysis, weighed up the evidence, I’ll set out our thinking on how we’ll take things forward this summer.

My general approach to regulation informs the way I have gone about tackling the Capital Markets Union. I have made it evidence based, and pursued a bottom up approach designed to try to create early momentum and generate confidence.

Its goal is to link savings with growth. To increase the flow of capital across borders to projects and businesses that need financing. And to improve the funding conveyor belt so that companies of all sizes can get the investment they need to grow and sell into bigger markets. For consumers, I also want to provide more options to those who want to put money aside for the long term.

These are the goals. But to make the fastest possible progress, I have broken my work down into a series of separate but connected measures that fall under three main categories: increasing the flow of funding to business investment;delivering meaningful returns for investors; and tackling long-standing barriers to cross-border investment.Let me touch briefly on all three.

To increase funding to businesses at every stage of their development, we’re looking at ways of building up Europe’s financial sector in areas that help smaller companies scale up, and sell further afield and into bigger markets.

To make it easier for companies of all sizes to tap public markets, we’re overhauling the Prospectus Directive to create a simpler, faster and cheaper prospectus regime. I want to streamline the process for companies which have already issued a prospectus and want to raise capital again: that’s currently about 70% of all prospectuses. This would speed up the process, and we estimate it should save listed companies up to 100 million euros a year. And we’re proposing to get rid of the prospectus requirement completely for companies that only want to raise small amounts, under 500,000 euros.

We’ll come forward with a package of measures to strengthen venture capital markets, where investment hasn’t increased in Europe since 2009. We’ll make a proposal to amend existing legislation governing venture capital funds, EuVECA and EuSEF, to build up scale, diversity and choice. And we’ll look at how we can use public money to crowd in private investment with a pan-European venture capital fund of funds.

I also want to understand better whether we can build on existing private placement markets that work well. They’re now well-established in France and Germany, and it’s a market that’s taking off in the UK. Based on this experience, these markets could be a powerful source of funding for medium sized companies when they want to raise amounts above twenty million euros from institutional investors. So we’ll launch a study to identify regulatory and other barriers that are holding back this funding channel in other Member States.

We’re taking forward a range of measures to provide better returns for investors. Put differently, increased demand for capital must be met by an increased supply from institutional and retail investors, investors who believe that capital markets are attractive because of the different levels of risk and return they offer.

Institutional investors have the largest pools of capital to invest in our capital markets. They provide the money to power long-term corporate or infrastructure projects. But institutional investors have been scaling back their exposure to equity. The total assets of the insurance sector and pension funds increased by 63% over the last 10 years, but their direct investment in equities has remained stable. I want to check this trend is not being caused by excessively conservative rules.

We’ve begun by acting to stimulate more long-term investment in infrastructure. So we’ve proposed to define infrastructure investment as an asset class under our prudential legislation Solvency II and for long-term investment funds: ELTIFs, and bring with it lower capital requirements.

To free up bank lending in the wider economy we’ve made a proposal to restart Europe’s securitisation markets. In 2014, the securitisation market was worth 216 billion euros, about a third of its value in 2007. If we could revive that market to its pre-crisis average, this could provide an extra 100 billion euros of credit to the economy. So our proposal sets out criteria for simple, transparent and standardised securitisation, with reduced bank capital requirements for securitisations that qualify. It whizzed through Council in record time. It’s now the responsibility of the Parliament to take this forward. The sooner we can get it into effect, the sooner we can get more lending flowing into Europe’s businesses, something which is in the interests of everyone.

For investors to enjoy more choice, I want to improve the passport system we have for investment funds so they can offer their services more easily and compete in different markets. This year we’ll launch a consultation to identify the main barriers to funds operating in other countries than their own. I want a system where investors can get hold of enough information, where they’ve got more choice, and where investment funds can genuinely compete with each other across borders.  

To inject more savings into capital markets we’re considering proposals for a European market for simple personal pensions. This could provide the economies of scale we need to reduce cost and increase choice for savers who are putting money aside for their retirement. So this year, we’ll work out exactly what steps might be needed to make this happen.

The third area we are working on is to knock down barriers to cross-border investment.   In recent years, investors have been shy of investing in countries other than their own. And while some of this was related to the financial crisis, much of it is to do with obstacles of longer standing.

By the end of the year we’ll bring forward proposals to try to reduce differences between national insolvency regimes. We want to try to make company restructuring easier, and to increase certainty for those wanting to invest across European borders.  Our proposals will seek to address the most important barriers and again, build on national regimes that work well.

We’ll look to see whether we can make cross border investments easier by simplifying the system to reclaim withholding tax when these are subject to double taxation. At the moment, cross border investments are penalised by double taxation on dividend income, interest payment and capital gains. The process for reclaiming these withheld taxes can be complicated and off-putting, and investors don’t always reclaim the money to which they’re entitled. This is estimated to cost investors more than 8 billion euros a year, so there is considerable scope for savings if we can make the whole process simpler.

One of the lessons of the financial crisis is that deepening the single market for capital will be of benefit to all Member States, in particular those who are more dependent on bank financing. But if a deeper single market for capital can be of benefit to all, it can also benefit countries with strong financial sectors like France or the UK.

I guess no speech from a Brit can be considered complete these days without mentioning the referendum. Since we are guests of The Economist, I cannot resist reminding them of an editorial that appeared on 11th April 1992, a few days after John Major’s general election victory. It has always stayed with me because I helped run his election campaign and went through the next few years with him. They wrote that “he will be able to put aside one issue that has pre-occupied him since he took over from Margaret Thatcher; the Tories’ divisions over the European Community will now not count. For the first time since Britain joined the EC in 1973, its role can be framed without regard to the minutiae of domestic politics.” Not one of their best predictions.

Since that time, there is no doubt that in Britain, as in other European countries, people from all parties have had questions about the EU and where it is going. I do think the agreement reached recently at the European Council helps address some of those concerns. Take economic governance as an example: the settlement tackles an issue that both euro-ins and euro-outs needed to address. It recognises the need of the euro area to integrate further. But it also enshrines for the first time the principle of non-discrimination against businesses on the grounds of currency. And it confirms the integrity of the single market, giving both euro ins and outs the assurance that their companies will be able to compete on a level playing field. And it also makes clear that the euro-outs will not create obstacles to the much needed further deepening of the economic and monetary union. I believe these new arrangements will help build trust on all sides so that financial services inside, and outside, the euro area continue to thrive.

The part of the settlement focusing on competitiveness is also important for the whole of Europe and the agenda for growth. It commits the EU to pursuing better regulation, to reducing administrative burdens and pushing for ambitious free trade agreements.

It requires the Commission to conduct annual reviews of EU legislation to check that it complies with the principles of subsidiarity and proportionality. Reviews that will be the basis for repealing regulations that weigh too heavily on business’ ability to grow and create jobs, or on regulations in areas that could be better dealt with at national level. I think that’s important if we’re going to have regulation that’s practical and that commands respect.  

From a financial services point of view, the Single Market offers opportunities to businesses across Europe – in Paris and of course in London too. Over the last few years, the City has continued to grow and thrive at the heart of the Single Market. And we know that access to the Single Market is one of the factors that continues to draw investors to London because they see it as a gateway to Europe.

If the UK were to leave, to suggest that London would simply or quickly be able to secure access to the Single Market on the same terms as it has today is fantasy. To do business with the EU, it would basically have to comply with rules over which it had no say. In other words, in the name of gaining more control, it would in fact lose control.

The deeper single market that we are trying to foster with the Capital Markets Union is for all 28. I know it won’t be built overnight. It’s going to require sustained effort, over months and years. But we’ve got off to a good start. And I sense a political opportunity – and a political will – to strengthen the role that capital markets play in our economy.

I intend to take that opportunity to strike the right balance in our approach to legislation, to take the single market a step further, to make the EU a more attractive place to invest, to do business, and to work. And by doing that to support the growth and investment in Europe that we all want to see.

General Market

CALENDRIER du 30 novembre au 6 décembre 2015

(Susceptible de modifications en cours de semaine)

Déplacements et visites

Dimanche 29 novembre

Meeting of the EU heads of state or government with Turkey, in Brussels.

 

Lundi 30 novembre

Competitiveness Council, in Brussels (30/11-01/12).

President Jean-Claude Juncker, Ms Federica Mogherini and Mr Miguel Arias Cañete participate in the opening of COP21 United Nations Climate Change Conference, in Paris.

In the margins of COP21, President Jean-Claude Juncker holds bilateral meetings with Canadian Prime Minister, Mr Justin P.J. Trudeau and Ukrainian President, Mr Petro Poroshenko.

Mr Frans Timmermans receives Mr Henk Kamp, Minister for Economic Affairs of the Netherlands.

Mr Frans Timmermans receives representatives of the Green 10 environmental NGOs.

Mr Andrus Ansip in Luxembourg: takes part in the conclusions of workshops and informal exchange of the Chief Information Officer (CIO) Network meeting; addresses the Conference of Parliamentary Committees for Union Affairs of Parliaments of the European Union (COSAC); meets with Ms Marietta Karamanli, rapporteure sur le projet de loi République numérique de l’Assemblée Nationale française; delivers a speech and participates in a discussion at LIV COSAC meeting (Conference of Parliamentary Committees for Union Affairs of Parliaments of the European Union).

Mr Maroš Šefčovič participates in the viEUws live panel debate on the State of the Energy Union, in Brussels.

Mr Günther Oettinger receives a delegation from Intel.

Mr Günther Oettinger receives the executive leadership of Europeana (European Digital Library).

Johannes Hahn attends the IFIs (International financial institutions) South meeting addressing the opening and closing sessions, in Brussels.

Johannes Hahn receives Mr Ranko Krivokapić, President of the Parliament of Montenegro.

Ms Cecilia Malmström in Paris: delivers a speech at the Centenary Conference of the CCSF (Chambre de Commerce Suédoise en France).

Mr Karmenu Vella receives Mr Branimir Gvozdenović, Minister of Sustainable Development and Tourism of Montenegro.

Mr Karmenu Vella receives Mr Jeremy Wates, Secretary General of the European Environmental Bureau (EEB).

Mr Vytenis Andriukaitis is in the U.S. (30/11- 04/12). On 30/11 in Atlanta: meets with Mr Tom Frieden, Director of the U.S. Center for Disease Control and Prevention (CDC), including a site visit.

Mr Dimitris Avramopoulos in Sweden: meets with Mr Morgan Johansson, Minister for Justice and Migration, and Mr Anders Ygeman, Minister for Home Affairs.

Mme Marianne Thyssen rencontre Mr Bart Tommelein, Secrétaire d’Etat à la Lutte contre la fraude sociale en Belgique, à Bruxelles.

Mme Marianne Thyssen donne un discours lors de la conférence Benelux sur le rôle de la coopération régionale dans la lutte européenne contre le dumping social, à Bruxelles.

M. Pierre Moscovici reçoit des représentants des associations d’éditeurs belges de presse quotidienne et de magazines.

M. Pierre Moscovici conclue le colloque organisé par France Stratégie à l’Assemblée Nationale française sur le financement climatique, à Paris.

Mr Phil Hogan receives Mr Tom Vilsack, U.S. Secretary of Agriculture.

Mr Jonathan Hill receives Mr Troels Lund Poulsen, Danish Minister for Business and Growth.

Ms Corina Creţu meets with representatives of the European Regions, in Brussels.

Ms Margrethe Vestager receives Mr Emmanuel Macron, French Minister of Economy, Industry and Digital Affairs.

Mr Carlos Moedas delivers an opening speech at the stakeholder workshop of the high-level group on the European Open Science Cloud, in Brussels.

Mr Carlos Moedas delivers a speech at the seminar “EU Innovation Union Strategy and the Black Sea Region” at the European Parliament, in Brussels.

 

Mardi 1 décembre

President Jean-Claude Juncker receives Mr Emomali Rahmon, President of Tajikistan.

Mr Frans Timmermans receives Mr Pavlo Klimkin, Minister of Foreign Affairs of Ukraine.

Ms Federica Mogherini receives Mr Stéphane Dion, Foreign Minister of Canada.

Ms Federica Mogherini receives Mr Witold Waszczykowski, Polish Foreign Minister.

Ms Federica Mogherini receives Mr Emomali Rahmon, President of Tajikistan.

Ms Federica Mogherini receives Mr Pavlo Klimkin, Minister of Foreign Affairs of Ukraine.

Ms Federica Mogherini participates at the NATO Foreign Ministers meeting, in Brussels.

Ms Kristalina Georgieva receives Mr Børge Brende, Minister of Foreign Affairs of Norway.

Ms Kristalina Georgieva attends a meeting of the High-Level Group on Own Resources.

Ms Kristalina Georgieva receives Mr Philippe Le Houérou,Executive Vice-President and CEO of International Finance Corporation (IFC), a member of the World Bank Group.

Mr Andrus Ansip delivers a speech on Digital Single Market at the e-Government Conference on “Simple, secure & transparent public services”; Esch-sur-Alzette, Luxembourg.

Mr Maroš Šefčovič receives Mr Cyril Muller, Vice-President of the World Bank Group for Europe and Central Asia.

Mr Maroš Šefčovič receives Mr Pavlo Klimkin, Minister of Foreign Affairs of Ukraine.

Mr Valdis Dombrovskis delivers a speech at the conference “Completing the European Economic and Monetary Union Challenges and Opportunities for Belgium”, in Brussels.

Mr Jyrki Katainen presents the Investment Plan for Europe at the Competitiveness Council.

Mr Jyrki Katainen meets with Mr Robert Greifeld, CEO of Nasdaq, in Brussels.

Mr Jyrki Katainen receives Mr Benoît Battistelli, President of the European Patent Office.

Mr Günther Oettinger in Germany and Austria: speaks at the Conference “50 Years Copyright”, in Berlin; meets with Governor Wilfried Haslauer and State Parliamentary President, Ms Brigitta Pallauf, in Salzburg.

Mr Günther Oettinger receives the Management of the German Public Broadcaster, ARD.

Mr Johannes Hahn chairs the first high-level meeting between the European Commission and IFIs on enhanced cooperation for the enlargement and neighbourhood regions of Europe, in Brussels.

Mr Johannes Hahn receives Mr Pavlo Klimkin, Minister of Foreign Affairs of Ukraine.

Ms Cecilia Malmström receives Mr Alexey Ulyukaev, Russian Minister of Economic Development and Mr Pavlo Klimkin, Ukrainian Minister of Foreign Affairs, for trilateral talks between the European Union, Ukraine and the Russian Federation on the implementation of the Ukraine-European Union Deep and Comprehensive Free Trade Area.

Mr Karmenu Vella receives Mr Reineke Hameleers, Director of Eurogroup for Animals.

Mr Karmenu Vella receives Mr Luca Visentini, General Secretary of the European Trade Union Confederation (ETUC).

Mr Vytenis Andriukaitis is in the U.S. (30/11- 04/12). On 01/12 in Boston: attends an event at Harvard Faculty Club on transatlantic relations and food policy; meets with Professor Walter Willett, Chair of the Department of Nutrition at Harvard School; participates in a special session with Professor David Bloom’s class on ‘public health challenges in the EU’, at the Department of Global Health and Population from the Harvard T. H. Chan School of Public Health; visits the Sanofi-Genzyme headquarters.

Mr Dimitris Avramopoulos in Paris: addresses the Committee on European Affairs of the French Assemblée Nationale.

Mr Christos Stylianides attends the opening of the Syria photo exhibition at the European Parliament, in Brussels.

Mr Phil Hogan delivers a speech at the EU Agricultural Outlook Conference, on “The CAP: meeting the major challenges”, at the Charlemagne building, in Brussels.

Mr Phil Hogan receives Mr Franz Fischler, President of the European Forum Alpbach, and former European Commissioner for Agriculture, Rural Development and Fisheries.

Mr Jonathan Hill in London: meets with Mr John McFarlane, Chairman of the board of TheCityUK; meets with Mr Jes Staley, CEO of Barclays; delivers a speech with Mr Pierre Gramegna, Luxembourg Finance Minister, at an event organised by TheCityUK; meets with Mr Mark Goldring, Executive Director of Oxfam UK.

Ms Elżbieta Bieńkowska takes part in the ITRE committee discussions on the 2016 work programme at the European Parliament, in Brussels.

Ms Elżbieta Bieńkowska receives Mr Loïc Armand, Cosmetics Europe President, and Mr John Chave, Director-General, to discuss the situation in the cosmetics sector.

Mr Tibor Navracsics receives Prof. Patrick Cunningham, Emeritus Professor of Genetics, Trinity College Dublin, and former Chief Scientific Advisor to the Irish Government, for a hand-over of the 7th Framework Programme ex-Post evaluation report on the Joint Research Centre.

Ms Corina Creţu receives Mr Siim Kallas, Chairman of the High-Level Group on Simplification.

Ms Corina Creţu and Ms Elżbieta Bieńkowska receive Mr Phil Wynn Owen, member of the Court of Auditors.

Mr Carlos Moedas meets with Ms Carmen Vela, Spanish Secretary of State for Innovation, in Brussels.

Mr Carlos Moedas meets with Ms Johanna Wanka, German Minister for Education, in Brussels.

Mr Carlos Moedas signs Tunisia’s Accession Agreement to the Horizon 2020 programme with Mr Chiheb Bouden, Minister of Higher Education and Scientific Research of Tunisia, followed by a bilateral meeting.

Mercredi 2 décembre

College meeting, in Brussels.

European Parliament plenary session, in Brussels.

President Jean-Claude Juncker receives Mr Nguyễn Tấn Dũng, Prime Minister of Vietnam.

President Jean-Claude Juncker receives Mr José Maria Neves, Prime Minister of Cape Verde.

President Jean-Claude Juncker receives Ms Nathalie Kosciusko-Morizet, Vice-president of Les Républicains.

Ms Federica Mogherini participates in the signature of the agreement between the European Union and the Republic of Colombia on the short-stay visa waiver, followed by a bilateral with Mr Juan Manuel Santos, President of Colombia.

Ms Kristalina Georgieva hosts a Budget focused on results meeting with special speaker Ms Mari Kiviniemi, Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD).

Ms Kristalina Georgieva receives Mr Kees Vendrik, Vice-President of the Court of Audit of the Netherlands.

Ms Kristalina Georgieva attends a meeting of the Irish women working in the EU.

Mr Andrus Ansip, Ms Elżbieta Bieńkowska and Mr Carlos Moedas speak at AmCham EU’s 3rd Annual Transatlantic Digital Economy Conference, in Brussels.

Mr Valdis Dombrovskis participates in Economic and Financial Affairs Committee at the European Parliament, in Brussels.

Mr Jyrki Katainen speaks at the Economic Ideas Forum in Brussels at a roundtable entitled “The Collaborative Economy as a Driver of Growth and Jobs”.

Mr Jyrki Katainen receives Mr Matti Lievonen, CEO of Neste.

M. Günther Oettinger reçoit Mme Nathalie Kosciusko-Morizet, Vice-présidente du groupe Les Républicains.

Mr Günther Oettinger receives Mr Klaus Dieter Rennert, Chief Executive EMEA – CIS.

Ms Cecilia Malmström receives Mr Nguyễn Tấn Dũng, Prime Minister of Vietnam.

Mr Miguel Arias Cañete receives Mr Juan Manuel Santos, President of Colombia.

Mr Vytenis Andriukaitis is in the U.S. (30/11- 04/12). On 02/12 in Washington: meets with U.S. agriculture and industry organisationson EU experience on food safety and EU efforts to fight antimicrobial resistance; attends George Washington University, School of Public Health, Department seminar on EU activities on antimicrobial resistance; meets with Ms Sylvia Burwell, U.S. Secretary of Health and Human Services, and senior US Health officials.

Mr Dimitris Avramopoulos receives Mr Juan Manuel Santos, President of Colombia.

Mr Pierre Moscovici rencontre M. François Hollande, Président de la République française, à Paris.

Mr Phil Hogan receives Mr Michel Nalet, President of the European Dairy Association.

Mr Jonathan Hill receives Mr Robert Greifeld, CEO of Nasdaq.

Mr Jonathan Hill receives representatives of Luxembourg Bankers’ Association (ABBL).

Mr Tibor Navracsics receives Mr Vinko Puljic, the Cardinal of Sarajevo.

Mr Carlos Moedas attends the meeting of the network on EU Budget focused on results.

 

Jeudi 3 décembre

Justice and Home Affairs Council, in Brussels (03-04/12).

Mr Frans Timmermans, Mr Jyrki Katainen, Mr Günther Oettinger and Mr Carlos Moedas attend the meeting of CEOs of the Business Europe Advisory and Support Group at the Berlaymont building, in Brussels.

Mr Frans Timmermans receives Ms Meinie Nicolai, President of Médecins sans Frontières Belgium.

Ms Federica Mogherini participates in the OSCE Ministerial political dialogue, in Belgrade.

Mr Andrus Ansip visits London: meets with Mr John Whittingdale, Secretary State for Culture, Media and Sport and Mr Ed Vaizey, Minister of State for Culture, Communications and Creative Industry; takes part in the Public and formal evidence session of the House of Lords and has a Roundtable Discussion on copyright with UK Film Industry (at Double Negative Visual Effects).

Mr Maroš Šefčovič on Energy Union Tour to Rome, Italy (03-04/12): meets with Ms Federica Guidi, Minister for Economic Development; participates in the parliamentary hearing with Industrial, Environment and European Committees of the Chamber of Deputies and the Italian Senate; participates in the Citizens’ dialogue together with Mr Gian Luca Galletti, Minister of Environment; gives a keynote speech at the “Confindustria” (Confederazione generale dell’industria italiana) event; meets with the CEOs of Eni, Terna, Enel and Edison.

Mr Valdis Dombrovskis attends a meeting of the Governing Council of the European Central Bank, in Frankfurt.

Mr Valdis Dombrovskis on a European Semester visit to Poland (03-04/12): meets with Mr Mateusz Morawiecki, Deputy Prime Minister of Poland; meets with social partners and members of the Polish Parliament.

Mr Jyrki Katainen receives Mr Joel Kaplan, Vice-President, Global Public Policy, Facebook.

Mr Günther Oettinger receives Mr Matthias Brückmann, CEO of EWE.

M. Günther Oettinger reçoit M. Jean-Bernard Lévy, Président-Directeur général d’EDF.

Mr Günther Oettinger receives Prof. Reimund Neugebauer, Frauenhofer Institut.

Mr Günther Oettinger receives Mr Joel Kaplan, Vice-President, Global Public Policy, Facebook.

Mr Günther Oettinger delivers a speech at “Media Leaders 2015”, in Berlin.

Mr Johannes Hahn receives Mr Volkan Bozkır, Turkish Minister of European Union Affairs.

Mr Johannes Hahn receives Ms Johanna Mikl-Leitner, Austrian Minister of Interior.

 Ms Cecilia Malmström in Berlin for Citizens’ Dialogue on the Transatlantic Trade and Investment Partnership (TTIP).

Mr Neven Mimica is in Ivory Coast (03-04/12): holds a series of bilateral meetings.

Mr Miguel Arias Cañete receives Mr Vagit Alekperov, President of Lukoil.

Mr Karmenu Vella in Paris, France (03-04/12): attends Association française des entreprises privées (AFEP) COP21 side-event on Circular Economy and Climate Change.

Mr Vytenis Andriukaitis is in the U.S. (30/11- 04/12). On 03/12 in Washington: meets with Congresswoman Louise Slaughter; meets with senior officials of the Food and Drug Administration (FDA); meets with Mr Michael Froman, U.S. Trade Representative, and senior US Trade officials; attends an event on antimicrobial resistance (with U.S. Administration, NGOs, consumer organisations, farmer associations, retailers, industry associations).

Mr Dimitris Avramopoulos participates in the 115th plenary session of the Committee of the Regions.

Mr Dimitris Avramopoulos receives Ms Johanna Mikl-Leitner, Minister of the Interior of Austria.

Mr Dimitris Avramopoulos, together with Ms Vĕra Jourová, launches the EU Internet Forum in the margins of the Justice and Home Affairs Council, in Brussels.

Ms Marianne Thyssen is in Sofia, Bulgaria (03-04/12): participates in Asia-Europe Meeting (ASEM) summit with European and Asian Labour Ministers; meets with Mr Boyko Borisov, Prime Minister.

M. Pierre Moscovici reçoit M. Jean-Bernard Lévy, Président-Directeur Général du groupe Électricité de France (EDF).

Mr Pierre Moscovici receives Mr Jürgen Fitschen and Mr Michael Kemmer, President and General Manager of the Federal Association of German Banks (Bundesverband Deutscher Banken).

Mr Phil Hogan in Munich: attends the “Jubiläum 70 Jahre Bayerischer Bauernverband” (70th Anniversary of the Bavarian Farmers Association).

Mr Jonathan Hill participates in the CMU Forum, hosted by Euromoney, in Brussels.

Mr Jonathan Hill receives Mr Hans Peter Wollseifer, President, Zentralverbands des Deutschen Handwerks.

Ms Vĕra Jourová meets with Mr Jari Lindström, Minister of Justice and Employment of Finland, in Brussels.

Ms Vĕra Jourová meets with Mr Ard van der Steur, Minister of Security and Justice of Netherlands, in Brussels.

Mr Tibor Navracsics participates in an inter-parliamentary Conference on Education and Youth Policies at the European Parliament, in Brussels.

Mr Tibor Navracsics meets with trainees at the European Parliament, in Brussels. 

Mr Carlos Moedas receives Prof. Reimund Neugebauer, President of Fraunhofer Gesellschaft.

 

Vendredi 4 décembre

Mr Maroš Šefčovič on Energy Union Tour to Rome, Italy (03-04/12): gives a keynote speech at the conference organised by IAI (Istituto Affari Internazionali); meets with Mr Paolo Gentiloni, Minister for Foreign Affairs; meets with Mr Guido Bortoni, President of the Italian Electricity and Gas Regulatory Authority.

Mr Jyrki Katainen in Helsinki, Finland: speaks at the event Kiertotalous EU:ssa – kansainvälisen yhteistyön rakennuspalikat – “Circular Economy in EU – the building blocks of international cooperation”; meets with Mr Sauli Niinistö, President of Finland; meets with Mr Juha Sipilä, Prime Minister of Finland.

Mr Günther Oettinger receives members of the European Bureau of Library Information and Documentation Associations, EBLIDA.

Mr Günther Oettinger receives Mr Klaus Hommels, CEO of Lakestar.

Ms Cecilia Malmström receives representatives of BEUC (Bureau Européen des Unions de Consommateurs/European Consumer Organisation).

Mr Karmenu Vella in Paris, France (03-04/12): participates in the Oceans Day event at COP21 United Nations Framework Convention on Climate Change (UNFCCC); meets with Ms Catherine Novelli, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment.

Mr Vytenis Andriukaitis is in the U.S. (30/11- 04/12). On 04/12 in Washington: meets with Mr Tom Vilsack, U.S. Secretary of Agriculture; meets with Dr John Holdren, Director for Science at the White House Office of Science and Technology Policy, and Dr Jo Handelsman, Associate Director for Science at the White House Office of Science and Technology Policy.

Ms Marianne Thyssen is in Sofia, Bulgaria (03-04/12): participates in Asia-Europe Meeting (ASEM) summit with European and Asian Labour Ministers; meets with Mr Ivaylo Kalfin, Minister of Labour; visits the European Social Fund project.  

M. Pierre Moscovici participe à une table ronde sur le financement climatique au Pavillon de l’Union Européenne de la COP 21, Le Bourget, France.

Mr Phil Hogan in Ireland: addresses the Agricultural European Innovation Partnership (EIP-AGRI) Seminar on “Promoting creativity and learning through agricultural knowledge systems and interactive innovation”, in Meath; meets with Ms Margaret Ritchie, Member of Parliament for South Down, Ireland, and Mr Joe Byrne, SDLP Chairman and agriculture and rural development spokesman, in Dublin.

Mr Jonathan Hill in Venice: meets with Mr Pier Carlo Padoan, Italian Minister of Economy and Finances; meets with Mr Riccardo Donadon, CEO of H-Farm.

Ms Vĕra Jourová receives Mr Joel Kaplan, Vice-President, Global Public Policy, Facebook.

Ms Vĕra Jourová receives Ms Julie Brill, Commissioner of the U.S. Federal Trade Commission.  

Ms Corina Creţu receives Mr Emiliano Garcia Page, President of the Spanish Region of Castilla La Mancha.

Mr Carlos Moedas is in Lund, Sweden: participates in the “Lund Revisited: Tackling Societal Challenges” conference, where he will deliver an opening speech entititled: “The Political challenge: How to address the grand societal challenges in an aligned way.”

 

Samedi 5 décembre

 

Dimanche 6 décembre

Mr Maroš Šefčovič mets Mr Arseniy Yatseniuk, Prime Minister of Ukraine in Brussels.

Prévisions du mois de décembre:

07/12 Eurogroup, in Brussels

08/12 Economic and Financial Affairs Council, in Brussels

08/12 Employment, Social Policy, Health and Consumer Affairs Council, in Brussels

09/12 Informal meeting of Ministers for Development Cooperation, in Luxembourg

10-11/12 Transport, Telecommunications and Energy Council, in Brussels

14-15/12 Agriculture and Fisheries Council, in Brussels

14-17/12 European Parliament plenary session, in Strasbourg

15/12 General Affairs Council, in Brussels

15/12 Foreign Affairs Council “Trade”, in Brussels

16/12 Environment Council, in Brussels

17-18/12 European Council, in Brussels

Permanence DG COMM le WE du 28 au 29 novembre:

Lucia Caudet, +32 (0)460 756 182     

Permanence RAPID – GSM: +32 (0) 498 982 748

Service Audiovisuel, planning studio – tél. : +32 (0)2/295 21 23