At the meeting of EU foreign ministers, there was a dispute over demands for a ceasefire in the Gaza Strip. Now, however, a compromise is emerging. According to information from EU circles obtained by Deutsche Presse-Agentur, following negotiations at a meeting of the General Council in Luxembourg, it is considered possible that the heads of state and government will come out in favor of ceasefires for safe aid deliveries at their summit meeting tomorrow.
The decisive factor is the word “pauses” in the plural. This grammatical subtlety could therefore clarify that the EU is not calling on Israel to stop the fight against the terrorist organization Hamas with immediate effect. This is the impression that countries like Germany and Austria want to avoid at all costs.
On Tuesday, Foreign Minister Annalena Baerbock made it clear on the sidelines of a meeting of the United Nations Security Council in New York that Germany is in favor of a corresponding compromise. In the war between Israel and the Islamist Hamas, “humanitarian windows” are needed, she said.
Feature
Commission to respond to IRA with reliable targets
In response to billions in US subsidies for the production of green technologies, the EU Commission is rediscovering the value of demand-side policies. Despite adverse circumstances, Europe still offers cleantech investors attractive business opportunities, the Commission writes in its report on the impact of the IRA on the European economy, presented yesterday. What sounds like the usual self-praise, the authority tries to back up with concrete policy.
“While many clean technologies, or key inputs for them, are internationally traded, production of goods tends to congregate close to demand,” the Commission writes, “and the EU has a long track record in creating predictable demand for clean technologies.” Sometimes derided by the industry as a planned economy, the Commission’s approach also runs through an energy strategy paper it also unveiled yesterday.
Member States to plan for longer periods
In their upcoming National Energy and Climate Plans (NECP), the member states are to set out their targets for renewable energies for the next ten years instead of the current five, according to the action plan for wind energy. The Commission also wants to create a digital overview for all green energy tenders in the EU to increase transparency for the industry. “This would help the industry plan its investments in production capacity, improve its creditworthiness and strengthen its business model,” the wind package says.
However, the Commission repeatedly shows itself how quickly such targetscan beovertaken by reality. This was the case with Repower-EU in response to the energy crisis last year. European targets for solar and wind were hastily increased and bioenergy, which many had already written off, was reanimated as an essential contribution to the security of supply. For offshore wind, the sum of national targets for 2030 from the latest TEN-E regulation is now double that from the Commission’s offshore strategy, which is just three years old. But this can also be seen as evidence of the importance of national ambitions, the transparency of which the Commission now wants to improve.
ITRE votes on Net-Zero Industry Act
The dispute over the extent to which specific technologies should be promoted is also the central conflict in the Net-Zero Industry Act, for which the Parliament’s Industry Committee is defining its position today. The Greens want to reject the approach of rapporteur Christian Ehler (EPP) of not favoring individual “strategic technologies” in funding, as the Commission does.
But will the IRA really lead to a wave of migration of European companies, especially from energy-intensive industries? The Commission does not answer this question in the report. There is simply no reliable data available yet, it states. The tax credits, for example, which are highly praised by the industry because they are simple, will not be calculated for the first time until the middle of next year. In the case of hydrogen, the US government has not yet specified which standards should apply to eligible clean hydrogen – unlike the Commission with its delegated acts.
Nevertheless, the Commission acknowledges that the IRA is likely to attract certain industries: “The cost advantage in battery manufacturing due to the IRA tax credits is about 25 to 30 percent of total production costs.”
German industrial strategy relies on next EU Commission
The German Federal Ministry of Economics does not want to rely solely on domestic demand in its industrial strategy, also presented yesterday. It states there is currently a lack of financial resources for a genuine European industrial policy. In addition, the decision-making procedures are still too extended, and the recently agreed simplifications are still far from sufficient, as is the industry. The vice chancellor expects real improvements only after the European elections: “The next EU Commission should take it upon itself to considerablyspeed up the processes.”
“As at the EU level, however, the industrial strategy lacks a clear definition of what security of supply means,” Nils Redeker, Deputy Director of the Jacques Delors Centre, wrote yesterday on the Blue Sky platform. Otherwise, he said, security of supply could also be a pretext to subsidize all sorts of nonsense.
Court of Auditors criticizes control system for EU reconstruction funds
Instead of linking funding to the specific costs of projects, countries receive money from the EU reconstruction fund if, for example, they advance the green and digital transformation or their labor markets with reforms and investments. In a special report on the European Recovery and Resilience Facility (ARF), the Court of Auditors now criticizes significant weaknesses in the monitoring system.
As a result, it is difficult to assess the extent to which the goals of the EU’s reconstruction fund are achieved, the responsible rapporteur of the Court of Auditors, Ivana Maletić, stated in a press conference: “The EU countries receive more money through the fund than ever before. Citizens therefore need to know whether Europe is achieving its basic objectives and how the money is being spent.”
Countries to achieve target values
The Recovery Fund, which runs until 2026, has a budget of €723 billion – up to €338 billion in grants and €385 billion in loans. It provides national financing for reforms and investments that pursue six core policy objectives:
green change
digital transformation
smart, sustainable and inclusive growth
social and territorial cohesion
health and economic, social and institutional resilience
measures for the next generation – training and education
Unlike traditional EU funding programs, however, the European Commission does not disburse funds based on costs incurred, but rather when countries reachcertain milestones and target levels of reform and investment.
‘Paradoxical situation’
According to Maletić, the EU Recovery Fund’s monitoring mechanisms are adequate to track EU countries’ progress on the reforms and investments agreed in return for funding. But she said there is no complete overview of the extent to which the funded projects achieved ARF goals, such as making the European economy greener and more resilient. “We are in the paradoxical situation that for the biggest fund in the EU, which is supposed to be performance-based, we can measure progress but not the performance itself,” she said.
The German member of the Court of Auditors, Klaus-Heiner Lehne, told Table.Media, “When you have the biggest EU program to date, you need to know how well it is working. Now that the implementation is halfway done, we can already see that ARF is strongly focused on the implementation progress and not so much on the results to be achieved, in terms of milestones and targets.”
Renovated square meters instead of saved carbon emissions
Maletić also emphasized that the milestones and stage targets are merely implementation steps. As an example, she referred to the energy-efficient refurbishment of existing housing. The number of renovated square meters is mentioned, but not the amount of carbon emissions actually saved.
According to the Croatian, the further monitoring mechanism via 14 common indicators also does not provide sufficient information on whether and how projects on the ground contribute to the overall objectives of the ARF. She said, among other reasons, this is because some reforms and investments cannot be directly attributed to any indicator, such as major structural reforms in the economic, labor market and judicial sectors, or investments in infrastructure and public transport. “The common indicators only partially cover the ARF targets. For example, there are no indicators for specific areas such as the rule of law, the financial sector or taxes,” the Croatian criticized.
Criticism of the Commission’s reporting
The Court also criticizes the reliability of the data on the reconstruction fund, especially with regard to the final recipients of funding. The Commission’s online scoreboard on the recovery fund is user-friendly but misleading in its presentation of the fund’s progress against the six main objectives. Since the Commission does not collect data on the amount of money spent in EU countries, the information is currently based on estimates.
The Court urges the Commission to improve reporting by having the Brussels-based agency base data and resulting conclusions on actual spending.
Using insights for Repower-EU
The Court also recommends developing a comprehensive performance monitoring system for future funding instruments that are also not cost-based – also to prevent double accounting with the classic EU programs. Maletić said it is too late to make sweeping changes in the monitoring system with the current reconstruction fund, as the program is too far advanced.
However, the Repower-EU program, which was launched last year, could take the Court’s findings from the reconstruction fund into account. With the program, which is worth billions, Europe wants to accelerate ecological change in the community of states.
REPowerEU
Wiederaufbaufonds
News
Johansson to be cross-examined in Interior Committee
EU Commissioner for Home Affairs Ylva Johansson has to face questions from MEPs in the European Parliament’s Home Affairs Committee (LIBE) this afternoon. There are three points she must explain to the parliamentarians. First, the head of the Directorate General for Home Affairs must explain the extent to which press reports about her desired close cooperation with the environment of the provider of recognition software for depictions of sexual child abuse Thorn are true. Johansson had sent a letter early on asking for support on her request.
The LIBE committee has also summoned journalist Apostolis Fotiadis, who has reported extensively on the close ties between the Thorn co-founder Ashton Kutcher’s entourage and Johansson.
In addition, Johansson has to justify placing targeted ads on Musk’s platform X, formerly Twitter. DG Home had placed ads in the context of overly idiosyncratic keywords such as “Marine Le Pen” in seven member states. This was apparently intended to solicit support for the CSA project. This action had come about as a result of the mandatory advertising documentation for large providers, which also affected DG Home. The EU Commission wants to subject political advertising to strict rules – Johansson’s department, however, seems less interested.
Deputies expect sharp confrontation
The EU Commissioner also has to justify dubious surveys with which she tries to exert political pressure. In response to an inquiry from Table.Media, the EU Commission stated that the sociological quality assurance for a Flash Eurobarometer had been the responsibility of the contractor, the survey institute IPSOS. The questionnaire ordered by the Commission was formulated suggestively, contrary to sociological standards. Even after two working days, the Commission did not answer any specific questions about the units involved in the process.
For the FDP European politician Moritz Körner, it is now clear: “Ms. Johansson wants the surveillance state, the European Parliament will certainly not support her line.” Other MEPs also expect a sharpconfrontation at the LIBE meeting on Wednesday afternoon. Ylva Johansson had already rejected accusations in advance by letter at the beginning of October. The vote on the parliamentary position has been postponed until November 23.
Digitalpolitik
DSA: EU Commission asks state media authorities for assistance
After the Commission already concluded administrative agreements with the designated French Digital Services Coordinator and the Irish Digital Supervisory Authority on Monday, the State Media Authority NRW now also confirmed a corresponding request to Table.Media.
The Commission is currently trying to obtain temporary support from member state actors so that it does not have to wait for the official launch when it comes to DSA supervision. The Federal Office of Justice, on the other hand, which is subordinate to the Ministry of Justice and has gained relevant experience with the NetzDG, cannot play any role for the time being for legal reasons. This was communicated by the BMJ upon request.
Germany’s DSA implementation still stuck
While the EU Commission is having trouble supervising the particularly big players, the German government continues to take its time in deliberating the Digital Services Act. Actually, the German cabinet was supposed to finally pass the German companion bill to the Digital Services Act today, Wednesday. But the Digital Services Act continues to hang in the balance of deliberations between the ministries.
In particular, the division of responsibilities between federal and state institutions remains contentious. According to government circles, the Federal Ministry for Family Affairs, for example, has made it a condition for cabinet approval that the Federal Agency for the Protection of Children and Young People in the Media (BzKM) be given a position superior to that of the state media institutions. Meanwhile, the state media authorities remain unhappy with the planned designation of a position at the Federal Network Agency as Digital Services Coordinator for Germany.
In Austria, the “DSA accompanying law” was published in the legal information system on Monday. There, Komm Austria, which is also linked to the network regulator but is independent of it in terms of media supervision, is to be appointed to the role of – as it is called in the draft law – “Digital Services Coordinator (KDD).” After the end of the “review period,” the ministerial draft will go to the Council of Ministers and from there to Parliament in Vienna. fst
Digital ministers agree on neurotechnology guidelines
At their informal council in Léon, Spain, EU telecoms and digital ministers agreed on a first European declaration on protecting digital rights as neurotechnology develops. Other topics included how to ensure digital rights are respected, the future of the telecommunications market, and how to achieve the goals of the digital decade.
In contrast, the AI Act, which was negotiated in the trilogue in Brussels the same evening, and also the G7 guidelines on AI (Hiroshima process) were not a topic in the plenary session – but in bilateral discussions on the sidelines of the meeting.
Neurotechnology combines neuroscience, engineering and computer science to develop systems that interact with the nervous system. The signatories of the Léon Declaration want to strengthen the EU’s competitiveness and strategic autonomy in this field. This will be done, among other things, by promoting public-private cooperation in the development of neurotechnologies based on European values.
This includes cultivating a dynamic ecosystem to bridge the gap between research, innovation and the market. Spain sees itself as a pioneer in the field and announced investments worth €120 million in the area.
Need for discussion on telecoms regulation
Hotly debated were, above all, the Commission’s proposals for regulating the telecommunicationssector (TC), which Internal Market Commissioner Thierry Breton envisages will result in a Digital Networks Act. “We see a great willingness of all member states to discuss the future of the TC sector, but also reluctance to regulate,” said a spokesperson for the German Federal Ministry of Digital Affairs and Transport (BMDV), which was represented by State Secretary Stefan Schnoor. “Germany also believes that careful analysis is necessary first.” Market intervention is only justified in the case of market failure, he said, and the existing regulatory framework for the telecom sector already includes a high degree of harmonization.
On the question of Big Tech’s participation in the costs of the necessary network expansion (fair share), a majority against an additional levy was emerging, the spokesman added. From the beginning, the BMDV had seen no need for additional regulation. It ran the risk of increasing costs for consumers and jeopardizing network neutrality. vis
Artificial Intelligence Regulation
Digitization
Pesticides: ENVI to tighten rules
The European Parliament’s Committee on Environment (ENVI) is pushing for stricter rules in the Sustainable use of pesticides (SUR) regulation. By 47 votes to 37, with two abstentions, the Committee wants to push a 65 percent reduction in the use of particularly hazardous pesticides by 2030 – based on the period 2013 to 2017. The use of other pesticides is to be restricted by 50 percent. The Commission had advocated a 50 percent reduction in each case – based on the period 2015 to 2017.
The Environment Committee is also calling for a complete ban on pesticides in sensitive areas. This should include all Natura 2000 protected areas as well as public playgrounds, parks and paths. 18.6 percent of EU land is Natura 2000 protected area. Many of these areas are currently intensively farmed.
If the Committee’s position is accepted, conventional pesticides would be banned in these areas. Only pesticides also permitted in organic farming would be allowed. The Agriculture Committee is against the Commission’s proposal. The plenum will vote on the parliamentary position in the session week from November 20 to 23. mgr
Agriculture
Climate & Environment
ENVI
Europäisches Parlament
European Parliament
ENVI adopts position on CO2 trucks
The EP Committee on Environment (ENVI) is pushing for stricter carbon fleet limits for heavy-duty vehicles by 2035. The Commission proposed that manufacturers must reduce average emissions from new vehicles by 65 percent by 2035. A majority in ENVI supported a 70 percent reduction. By 2030, Parliament is calling for minus 45 percent, in line with the Commission and Council.
By 2040, Parliament is calling for minus 90 percent, which is also in line with the Commission and Council. Rapporteur Bas Eickhout (Greens) had aimed for minus 92.5 percent by 2040 but was unable to get his way in the face of opposition from the EPP and Renew.
ENVI wants to introduce aban on internal combustion engines in city buses from 2030. The council is in favor of phasing out internal combustion engines for city buses in 2035. By then, new vehicles should emit 85 percent less CO2, according to the general direction of the council. ENVI wants to allow city buses that run on biomethane by 2035.
Review in 2027
Parliament and Council are committed to reviewing the CO2 fleet legislation in 2027. ENVI does not want to include any wording on climate-neutral fuels or e-fuels in the legal text, which is also the position of the Council of Ministers.
In defining zero-emission vehicles, the Commission had proposed they should emit no more than three grams of CO2 per tonne-kilometer. The Council had followed suit. ENVI is now pushing for thresholds of three grams by 2030 and one gram after 2030.
The plenary in Strasbourg will vote on the CO2 fleet limits during the session week of November 20-23. As the Industry Committee and the Transport Committee are pushing for less stringent regulation, there could still be amendments in the plenary. The trilogue is expected to be concluded under the Belgian Council Presidency in early 2024. mgr
Climate & Environment
European Parliament
Traffic
EU Committee calls for deepening trade with Taiwan
The EU Parliament’s Trade Committee has spoken out in favor of expanding trade relations with Taiwan. The MEPs also called on the EU Commission and the European External Action Service (EEAS) to “swiftly begin working on a resilient supply chain agreement with Taiwan.” The Committee set this out in a resolution that will also be voted on in the European Parliament’s plenary in November. Resolutions are positions on specific issues and are not legally binding.
In the text, MEPs also call on the Commission and the EEAS to step up their support to Taiwan and help it maintain a presence in multilateral and international forums. “We call for the further strengthening of the relationship, alongside concrete progress for key initiatives such as the Trade & Investment Dialogue,” said Romanian MEP Iuliu Winkler. The European Parliament has also proposed a bilateral investment agreement with Taiwan on several occasions – but the EU Commission has not made any concrete moves in this regard.
Free trade agreement with New Zealand
China considers Taiwan a secessionist province. The EU pursues a “one China” policy regarding Taiwan, which excludes official diplomatic relations with Taiwan while allowing bilateral economic ties to a certain extent.
On Tuesday, the EU Parliament’s Trade Committee also gave the green light for the planned free trade agreement with New Zealand. The Parliament is also to vote on this in November. With the approval of the EU Council, the deal could enter into force in mid-2024. The free trade agreement is an important step for cooperation with states in the Indo-Pacific region. ari
European Parliament
Handelspolitik
Taiwan
Trade Policy
False CV: two AfD candidates keep place on European list
Two AfD politicians will be allowed to run for the European Parliament even though they had provided inaccurate information about their CVs during the election of the lists. The accusation of deliberate deception was not justified, a party convention ruled. The two candidates, Arno Bausemer and Mary Khan-Hohloch, are allowed to keep their list positions ten and 14 and thus have a good chance of entering Parliament in the June 9 election.
Bausemer and Khan-Hohloch are alleged to have made false statements about professional and school qualifications. The party leadership had initially decided that the two candidates would not be allowed to hold internal party offices for two years. But that was not enough for party members. They demanded that Bausemer and Khan-Hohloch be removed from the list. However, this demand was rejected by a party convention. mgr
Left Party Chairman: European Party Congress to mark farewell to Wagenknecht
Left Party Chairman and MEP Martin Schirdewan emphasizes the Left’s unity in the EU in view of Sahra Wagenknecht’s party launch. “The MEPs of the Left stand united with the Left,” Schirdewan said upon request by Table.Media.
He added that the party is already preparing for the European Parliament elections in June 2024. “The European Party Congress in November will set the course for this and at the same time be a first important milestone in the renewal of theparty after the departure of the Wagenknecht group.” On November 17 and 18, the Left Party will adopt its election program and candidate list in Augsburg.
Former MEP Sahra Wagenknecht announced on Monday that her newly founded party would run in the European elections and the upcoming state elections. Wagenknecht wants to give the EU member states more power. fst
European Parliament
Baden-Württemberg calls for subsidies also for strong regions
The EU is suffering from a “triple political-administrative overdose,” according to the position paper that will be adopted today at the BW-EU business summit in Brussels and that is available to Table.Media. SMEs are overwhelmed by a multitude of new regulations and reporting requirements. Examples are the requirements from the taxonomy and sustainability reporting. Instead of practical regulation, there is too much “micromanagement.” One example, it said, is the Packaging Ordinance, where the overall eco-balance does not count, but individual specifications are made.
Baden-Württemberg’s EconomicsMinister Nicole Hoffmeister-Kraut (CDU) and a business delegation of more than 100 people traveled to Brussels for a two-day economic summit. “We need a new mindset and a new spirit in the EU,” she demanded at the start of the trip. In Brussels, Hoffmeister-Kraut and the delegation will hold talks with high-ranking representatives of the EU institutions.
Creation of an ‘SME quarterback’
The position paper goes on to say that regulation by Brussels is too “one-dimensional”: long-term negative consequences for the innovation and competitiveness of SMEs are not taken into account. This is evident in the medical device regulation, the carbon border adjustment mechanism CBAM and is threatening in the upcoming regulation of PFAS chemicals.
The paper also calls for more push for innovative regions. It says there must be the possibility of awarding large-volume subsidies under the Temporary Crisis and Transition Framework (TCTF) not only to previously assisted areas but also to regions such as Baden-Württemberg.
In addition, the creation of an “SME quarterback” is urged. He should report directly to the EU Commission President and thus be above the expert commissioners. The SME check by the new SME quarterback should have a binding character with veto power and thus significantly more competencies than the previous Regulatory Scrutiny Board. mgr
CBAM
Commission announces drug distribution mechanism
EU states should be able to help each other more in the event of an acute shortage of medicines. The EU Commission announced on Tuesday in Brussels that a voluntary distribution mechanism will be launched this October. In this way, a country will be able to announce its need for a certain drug and other member states will then be able to distribute drugs from their stocks. In addition, the EU Commission proposes that the EU member states purchase medicine jointly, as in the case of the Covid vaccine procurement.
Last year, for example, there was a shortage of many medicines even in a large and comparatively rich country like Germany. After a wave of infections, there were supply problems with fever and cough syrups. Antibiotics and cancer drugs were also not always immediately available.
Up to 350 drugs on the list
According to the EU Commission, a list of particularly important drugs will now be prepared. By this, the authority means drugs without a suitable alternative and those where a shortage could seriously harm people.
Solutions to the shortage of these drugs are then to be prepared – if possible – for example through more stocks, more production or more partnerships with third countries. The list could eventually include between 100 and 350 medicines, said EU Health Commissioner Stella Kyriakides. But she also stressed, “Drug shortages cannot be eliminated overnight, because the causes are long-lasting and complex.” dpa
Russia’s highest representative to the EU suspected of espionage
Diplomat Kirill Logvinov is said to work not only for the Russian Foreign Ministry but also for Russia’s foreign intelligence service SWR, according to findings by Belgian intelligence agency VSSE, several sources confirmed to Deutsche Presse-Agentur in Brussels on Tuesday. Previously, he also worked at the Russian Embassy in Berlin between 2010 and 2014, according to his resume.
The case was reported Tuesday by Der Spiegel and several other European media. There had already been initial reports about the suspicion last summer.
There was no information on Tuesday about the kind of work Logvinov might have carried out or is still carrying out for SWR. “We don’t comment on that,” a spokesman for the VSSE intelligence agency told dpa upon request.
Nowadays, espionage is not only considered to be the covert acquisition of information. Activities in the area of undesired political or social influence are also included. This can be done, for example, through the targeted dissemination of false information in the host country.
Post of official ambassador vacant
Logvinov, 48, has been Russia’s highest representative to the EU as Chargé d’affaires since September 2022. The post of official ambassador has been vacant since Vladimir Chizhov was recalled to his homeland last year after some 17 years as Russia’s EU ambassador. Prior to that, relations between Brussels and Moscow had sunk to an all-time low over Russia’s invasion of Ukraine.
When asked why Logvinov was not asked to leave the country in light of the suspicion of espionage, the EU’s foreign service in charge did not give a clear answer on Tuesday. A spokesman merely pointed out that measures were in place “to permanently assess the extent of the threat.”
He also recalled that 19 Russian diplomats had already been declared undesirables (“personae non-gratae”) by the EU in April last year. At the time, EU foreign affairs representative Josep Borrell justified this on the grounds that the individuals were engaged in activities that contradicted their diplomatic status. dpa
Heads
David Denzer-Speck – Europe’s funding policy in mind
For KfW in Brussels: David Denzer-Speck.
“I actually have the luxury of two worlds,” David Denzer-Speck answers laughing when asked whether he likes Brussels or Frankfurt better. “Brussels is incredibly livable, especially with family; we’ve become rooted there,” he says. But of course, he says, he also enjoys his time in Frankfurt. “Brussels and Frankfurt are almost neighbors, three hours by train and four by car.” David Denzer-Speck, head of KfW’s liaison office to the EU in Brussels, knows the route.
Denzer-Speck stems from Tauberbischofsheim in northern Baden, studied economics in Freiburg, with two semesters at the FU Berlin. He then earned his Ph.D. at the Chair of Finance with a focus on central banking in Freiburg. During his studies, he became involved in the alumni association and came into contact with KfW for the first time.
Entry with the financial crisis
“We used to organize trips for young students, and one went to Frankfurt, where we visited the German Stock Exchange, Bundesbank, Deutsche Bank, and KfW, among others,” Denzer-Speck recalls. After earning his Ph.D., and shortly before the outbreak of the financial market crisis in 2007, he went to Frankfurt for three years to work in KfW’s economics department. “It was a really great start, jumping from theory straight into practice.”
Denzer-Speck has now been in Brussels since 2011, first as a desk officer, then as a department director and office manager with offices in Brussels and Frankfurt. “I knew German politics, and KfW is internationally structured in many places, but at the end of the day it is a German institution.” Many important course-setting decisions, especially during the financial market crisis, came and still come from Brussels. Therefore, he says, the move was a great opportunity for him at the time to switch to European politics. “I thought: gosh, let’s try this for three years,” he recalls. “And you see, it turned out to be a few more years.”
At the interface between politics and business
“KfW is at the interface of politics and business,” Denzer-Speck replies when asked what he finds particularly interesting about working for KfW. With his team, he is currently primarily concerned with development finance, funding policy in Europe with a focus on Germany and the regulatory framework. “That’s where KfW is special because on the one hand, it’s a bank and on the other hand it belongs to the public sector. I always say it is a bit like a bridge between the government, the financial sector and the economy.”
At the moment, the focus is on Global Gateway, the European response to the Chinese Silk Road initiative. With other European promotional banks, KfW implements promotional funds all over the world, mainly in Africa, but also in Asia and Latin America. KfW is also heavily involved in environmental and climate financing. With the Green Deal, the EU intervenes in many places in KfW’s promotional activities, and with its promotional activities in Germany and around the world, KfW makes a concrete contribution.
Consulting for EU Institutions
Denzer-Speck particularly appreciates the cooperation with other European promotional banks. “You’re not well positioned on your own,” he is convinced. In Brussels, he shares a joint office with Italian, French, Dutch and Polish colleagues. For smaller banks, there is the association that bundles the work and then goes to the respective capitals. Together, different expertise is thus exchanged. “This is incredibly enriching because you get to work with very many different nice colleagues from all over Europe.”
In addition, KfW is also active in representinginterests to the EU institutions. “We all have an interest in having well-functioning institutions, so at the end of the day we provide a lot of information to our partners free of charge.”
Working in the liaison office is never boring for David Denzer-Speck. He is always on topical issues and the mix of analysis, politics and networking enriches him. He has a lot of creative freedom and a wide range of activities: “From organizing board visits with commissioners to: The coffee machine is not working, who will take care of it?”, he says and laughs. Livia Hofmann
At the meeting of EU foreign ministers, there was a dispute over demands for a ceasefire in the Gaza Strip. Now, however, a compromise is emerging. According to information from EU circles obtained by Deutsche Presse-Agentur, following negotiations at a meeting of the General Council in Luxembourg, it is considered possible that the heads of state and government will come out in favor of ceasefires for safe aid deliveries at their summit meeting tomorrow.
The decisive factor is the word “pauses” in the plural. This grammatical subtlety could therefore clarify that the EU is not calling on Israel to stop the fight against the terrorist organization Hamas with immediate effect. This is the impression that countries like Germany and Austria want to avoid at all costs.
On Tuesday, Foreign Minister Annalena Baerbock made it clear on the sidelines of a meeting of the United Nations Security Council in New York that Germany is in favor of a corresponding compromise. In the war between Israel and the Islamist Hamas, “humanitarian windows” are needed, she said.
Feature
Commission to respond to IRA with reliable targets
In response to billions in US subsidies for the production of green technologies, the EU Commission is rediscovering the value of demand-side policies. Despite adverse circumstances, Europe still offers cleantech investors attractive business opportunities, the Commission writes in its report on the impact of the IRA on the European economy, presented yesterday. What sounds like the usual self-praise, the authority tries to back up with concrete policy.
“While many clean technologies, or key inputs for them, are internationally traded, production of goods tends to congregate close to demand,” the Commission writes, “and the EU has a long track record in creating predictable demand for clean technologies.” Sometimes derided by the industry as a planned economy, the Commission’s approach also runs through an energy strategy paper it also unveiled yesterday.
Member States to plan for longer periods
In their upcoming National Energy and Climate Plans (NECP), the member states are to set out their targets for renewable energies for the next ten years instead of the current five, according to the action plan for wind energy. The Commission also wants to create a digital overview for all green energy tenders in the EU to increase transparency for the industry. “This would help the industry plan its investments in production capacity, improve its creditworthiness and strengthen its business model,” the wind package says.
However, the Commission repeatedly shows itself how quickly such targetscan beovertaken by reality. This was the case with Repower-EU in response to the energy crisis last year. European targets for solar and wind were hastily increased and bioenergy, which many had already written off, was reanimated as an essential contribution to the security of supply. For offshore wind, the sum of national targets for 2030 from the latest TEN-E regulation is now double that from the Commission’s offshore strategy, which is just three years old. But this can also be seen as evidence of the importance of national ambitions, the transparency of which the Commission now wants to improve.
ITRE votes on Net-Zero Industry Act
The dispute over the extent to which specific technologies should be promoted is also the central conflict in the Net-Zero Industry Act, for which the Parliament’s Industry Committee is defining its position today. The Greens want to reject the approach of rapporteur Christian Ehler (EPP) of not favoring individual “strategic technologies” in funding, as the Commission does.
But will the IRA really lead to a wave of migration of European companies, especially from energy-intensive industries? The Commission does not answer this question in the report. There is simply no reliable data available yet, it states. The tax credits, for example, which are highly praised by the industry because they are simple, will not be calculated for the first time until the middle of next year. In the case of hydrogen, the US government has not yet specified which standards should apply to eligible clean hydrogen – unlike the Commission with its delegated acts.
Nevertheless, the Commission acknowledges that the IRA is likely to attract certain industries: “The cost advantage in battery manufacturing due to the IRA tax credits is about 25 to 30 percent of total production costs.”
German industrial strategy relies on next EU Commission
The German Federal Ministry of Economics does not want to rely solely on domestic demand in its industrial strategy, also presented yesterday. It states there is currently a lack of financial resources for a genuine European industrial policy. In addition, the decision-making procedures are still too extended, and the recently agreed simplifications are still far from sufficient, as is the industry. The vice chancellor expects real improvements only after the European elections: “The next EU Commission should take it upon itself to considerablyspeed up the processes.”
“As at the EU level, however, the industrial strategy lacks a clear definition of what security of supply means,” Nils Redeker, Deputy Director of the Jacques Delors Centre, wrote yesterday on the Blue Sky platform. Otherwise, he said, security of supply could also be a pretext to subsidize all sorts of nonsense.
Court of Auditors criticizes control system for EU reconstruction funds
Instead of linking funding to the specific costs of projects, countries receive money from the EU reconstruction fund if, for example, they advance the green and digital transformation or their labor markets with reforms and investments. In a special report on the European Recovery and Resilience Facility (ARF), the Court of Auditors now criticizes significant weaknesses in the monitoring system.
As a result, it is difficult to assess the extent to which the goals of the EU’s reconstruction fund are achieved, the responsible rapporteur of the Court of Auditors, Ivana Maletić, stated in a press conference: “The EU countries receive more money through the fund than ever before. Citizens therefore need to know whether Europe is achieving its basic objectives and how the money is being spent.”
Countries to achieve target values
The Recovery Fund, which runs until 2026, has a budget of €723 billion – up to €338 billion in grants and €385 billion in loans. It provides national financing for reforms and investments that pursue six core policy objectives:
green change
digital transformation
smart, sustainable and inclusive growth
social and territorial cohesion
health and economic, social and institutional resilience
measures for the next generation – training and education
Unlike traditional EU funding programs, however, the European Commission does not disburse funds based on costs incurred, but rather when countries reachcertain milestones and target levels of reform and investment.
‘Paradoxical situation’
According to Maletić, the EU Recovery Fund’s monitoring mechanisms are adequate to track EU countries’ progress on the reforms and investments agreed in return for funding. But she said there is no complete overview of the extent to which the funded projects achieved ARF goals, such as making the European economy greener and more resilient. “We are in the paradoxical situation that for the biggest fund in the EU, which is supposed to be performance-based, we can measure progress but not the performance itself,” she said.
The German member of the Court of Auditors, Klaus-Heiner Lehne, told Table.Media, “When you have the biggest EU program to date, you need to know how well it is working. Now that the implementation is halfway done, we can already see that ARF is strongly focused on the implementation progress and not so much on the results to be achieved, in terms of milestones and targets.”
Renovated square meters instead of saved carbon emissions
Maletić also emphasized that the milestones and stage targets are merely implementation steps. As an example, she referred to the energy-efficient refurbishment of existing housing. The number of renovated square meters is mentioned, but not the amount of carbon emissions actually saved.
According to the Croatian, the further monitoring mechanism via 14 common indicators also does not provide sufficient information on whether and how projects on the ground contribute to the overall objectives of the ARF. She said, among other reasons, this is because some reforms and investments cannot be directly attributed to any indicator, such as major structural reforms in the economic, labor market and judicial sectors, or investments in infrastructure and public transport. “The common indicators only partially cover the ARF targets. For example, there are no indicators for specific areas such as the rule of law, the financial sector or taxes,” the Croatian criticized.
Criticism of the Commission’s reporting
The Court also criticizes the reliability of the data on the reconstruction fund, especially with regard to the final recipients of funding. The Commission’s online scoreboard on the recovery fund is user-friendly but misleading in its presentation of the fund’s progress against the six main objectives. Since the Commission does not collect data on the amount of money spent in EU countries, the information is currently based on estimates.
The Court urges the Commission to improve reporting by having the Brussels-based agency base data and resulting conclusions on actual spending.
Using insights for Repower-EU
The Court also recommends developing a comprehensive performance monitoring system for future funding instruments that are also not cost-based – also to prevent double accounting with the classic EU programs. Maletić said it is too late to make sweeping changes in the monitoring system with the current reconstruction fund, as the program is too far advanced.
However, the Repower-EU program, which was launched last year, could take the Court’s findings from the reconstruction fund into account. With the program, which is worth billions, Europe wants to accelerate ecological change in the community of states.
REPowerEU
Wiederaufbaufonds
News
Johansson to be cross-examined in Interior Committee
EU Commissioner for Home Affairs Ylva Johansson has to face questions from MEPs in the European Parliament’s Home Affairs Committee (LIBE) this afternoon. There are three points she must explain to the parliamentarians. First, the head of the Directorate General for Home Affairs must explain the extent to which press reports about her desired close cooperation with the environment of the provider of recognition software for depictions of sexual child abuse Thorn are true. Johansson had sent a letter early on asking for support on her request.
The LIBE committee has also summoned journalist Apostolis Fotiadis, who has reported extensively on the close ties between the Thorn co-founder Ashton Kutcher’s entourage and Johansson.
In addition, Johansson has to justify placing targeted ads on Musk’s platform X, formerly Twitter. DG Home had placed ads in the context of overly idiosyncratic keywords such as “Marine Le Pen” in seven member states. This was apparently intended to solicit support for the CSA project. This action had come about as a result of the mandatory advertising documentation for large providers, which also affected DG Home. The EU Commission wants to subject political advertising to strict rules – Johansson’s department, however, seems less interested.
Deputies expect sharp confrontation
The EU Commissioner also has to justify dubious surveys with which she tries to exert political pressure. In response to an inquiry from Table.Media, the EU Commission stated that the sociological quality assurance for a Flash Eurobarometer had been the responsibility of the contractor, the survey institute IPSOS. The questionnaire ordered by the Commission was formulated suggestively, contrary to sociological standards. Even after two working days, the Commission did not answer any specific questions about the units involved in the process.
For the FDP European politician Moritz Körner, it is now clear: “Ms. Johansson wants the surveillance state, the European Parliament will certainly not support her line.” Other MEPs also expect a sharpconfrontation at the LIBE meeting on Wednesday afternoon. Ylva Johansson had already rejected accusations in advance by letter at the beginning of October. The vote on the parliamentary position has been postponed until November 23.
Digitalpolitik
DSA: EU Commission asks state media authorities for assistance
After the Commission already concluded administrative agreements with the designated French Digital Services Coordinator and the Irish Digital Supervisory Authority on Monday, the State Media Authority NRW now also confirmed a corresponding request to Table.Media.
The Commission is currently trying to obtain temporary support from member state actors so that it does not have to wait for the official launch when it comes to DSA supervision. The Federal Office of Justice, on the other hand, which is subordinate to the Ministry of Justice and has gained relevant experience with the NetzDG, cannot play any role for the time being for legal reasons. This was communicated by the BMJ upon request.
Germany’s DSA implementation still stuck
While the EU Commission is having trouble supervising the particularly big players, the German government continues to take its time in deliberating the Digital Services Act. Actually, the German cabinet was supposed to finally pass the German companion bill to the Digital Services Act today, Wednesday. But the Digital Services Act continues to hang in the balance of deliberations between the ministries.
In particular, the division of responsibilities between federal and state institutions remains contentious. According to government circles, the Federal Ministry for Family Affairs, for example, has made it a condition for cabinet approval that the Federal Agency for the Protection of Children and Young People in the Media (BzKM) be given a position superior to that of the state media institutions. Meanwhile, the state media authorities remain unhappy with the planned designation of a position at the Federal Network Agency as Digital Services Coordinator for Germany.
In Austria, the “DSA accompanying law” was published in the legal information system on Monday. There, Komm Austria, which is also linked to the network regulator but is independent of it in terms of media supervision, is to be appointed to the role of – as it is called in the draft law – “Digital Services Coordinator (KDD).” After the end of the “review period,” the ministerial draft will go to the Council of Ministers and from there to Parliament in Vienna. fst
Digital ministers agree on neurotechnology guidelines
At their informal council in Léon, Spain, EU telecoms and digital ministers agreed on a first European declaration on protecting digital rights as neurotechnology develops. Other topics included how to ensure digital rights are respected, the future of the telecommunications market, and how to achieve the goals of the digital decade.
In contrast, the AI Act, which was negotiated in the trilogue in Brussels the same evening, and also the G7 guidelines on AI (Hiroshima process) were not a topic in the plenary session – but in bilateral discussions on the sidelines of the meeting.
Neurotechnology combines neuroscience, engineering and computer science to develop systems that interact with the nervous system. The signatories of the Léon Declaration want to strengthen the EU’s competitiveness and strategic autonomy in this field. This will be done, among other things, by promoting public-private cooperation in the development of neurotechnologies based on European values.
This includes cultivating a dynamic ecosystem to bridge the gap between research, innovation and the market. Spain sees itself as a pioneer in the field and announced investments worth €120 million in the area.
Need for discussion on telecoms regulation
Hotly debated were, above all, the Commission’s proposals for regulating the telecommunicationssector (TC), which Internal Market Commissioner Thierry Breton envisages will result in a Digital Networks Act. “We see a great willingness of all member states to discuss the future of the TC sector, but also reluctance to regulate,” said a spokesperson for the German Federal Ministry of Digital Affairs and Transport (BMDV), which was represented by State Secretary Stefan Schnoor. “Germany also believes that careful analysis is necessary first.” Market intervention is only justified in the case of market failure, he said, and the existing regulatory framework for the telecom sector already includes a high degree of harmonization.
On the question of Big Tech’s participation in the costs of the necessary network expansion (fair share), a majority against an additional levy was emerging, the spokesman added. From the beginning, the BMDV had seen no need for additional regulation. It ran the risk of increasing costs for consumers and jeopardizing network neutrality. vis
Artificial Intelligence Regulation
Digitization
Pesticides: ENVI to tighten rules
The European Parliament’s Committee on Environment (ENVI) is pushing for stricter rules in the Sustainable use of pesticides (SUR) regulation. By 47 votes to 37, with two abstentions, the Committee wants to push a 65 percent reduction in the use of particularly hazardous pesticides by 2030 – based on the period 2013 to 2017. The use of other pesticides is to be restricted by 50 percent. The Commission had advocated a 50 percent reduction in each case – based on the period 2015 to 2017.
The Environment Committee is also calling for a complete ban on pesticides in sensitive areas. This should include all Natura 2000 protected areas as well as public playgrounds, parks and paths. 18.6 percent of EU land is Natura 2000 protected area. Many of these areas are currently intensively farmed.
If the Committee’s position is accepted, conventional pesticides would be banned in these areas. Only pesticides also permitted in organic farming would be allowed. The Agriculture Committee is against the Commission’s proposal. The plenum will vote on the parliamentary position in the session week from November 20 to 23. mgr
Agriculture
Climate & Environment
ENVI
Europäisches Parlament
European Parliament
ENVI adopts position on CO2 trucks
The EP Committee on Environment (ENVI) is pushing for stricter carbon fleet limits for heavy-duty vehicles by 2035. The Commission proposed that manufacturers must reduce average emissions from new vehicles by 65 percent by 2035. A majority in ENVI supported a 70 percent reduction. By 2030, Parliament is calling for minus 45 percent, in line with the Commission and Council.
By 2040, Parliament is calling for minus 90 percent, which is also in line with the Commission and Council. Rapporteur Bas Eickhout (Greens) had aimed for minus 92.5 percent by 2040 but was unable to get his way in the face of opposition from the EPP and Renew.
ENVI wants to introduce aban on internal combustion engines in city buses from 2030. The council is in favor of phasing out internal combustion engines for city buses in 2035. By then, new vehicles should emit 85 percent less CO2, according to the general direction of the council. ENVI wants to allow city buses that run on biomethane by 2035.
Review in 2027
Parliament and Council are committed to reviewing the CO2 fleet legislation in 2027. ENVI does not want to include any wording on climate-neutral fuels or e-fuels in the legal text, which is also the position of the Council of Ministers.
In defining zero-emission vehicles, the Commission had proposed they should emit no more than three grams of CO2 per tonne-kilometer. The Council had followed suit. ENVI is now pushing for thresholds of three grams by 2030 and one gram after 2030.
The plenary in Strasbourg will vote on the CO2 fleet limits during the session week of November 20-23. As the Industry Committee and the Transport Committee are pushing for less stringent regulation, there could still be amendments in the plenary. The trilogue is expected to be concluded under the Belgian Council Presidency in early 2024. mgr
Climate & Environment
European Parliament
Traffic
EU Committee calls for deepening trade with Taiwan
The EU Parliament’s Trade Committee has spoken out in favor of expanding trade relations with Taiwan. The MEPs also called on the EU Commission and the European External Action Service (EEAS) to “swiftly begin working on a resilient supply chain agreement with Taiwan.” The Committee set this out in a resolution that will also be voted on in the European Parliament’s plenary in November. Resolutions are positions on specific issues and are not legally binding.
In the text, MEPs also call on the Commission and the EEAS to step up their support to Taiwan and help it maintain a presence in multilateral and international forums. “We call for the further strengthening of the relationship, alongside concrete progress for key initiatives such as the Trade & Investment Dialogue,” said Romanian MEP Iuliu Winkler. The European Parliament has also proposed a bilateral investment agreement with Taiwan on several occasions – but the EU Commission has not made any concrete moves in this regard.
Free trade agreement with New Zealand
China considers Taiwan a secessionist province. The EU pursues a “one China” policy regarding Taiwan, which excludes official diplomatic relations with Taiwan while allowing bilateral economic ties to a certain extent.
On Tuesday, the EU Parliament’s Trade Committee also gave the green light for the planned free trade agreement with New Zealand. The Parliament is also to vote on this in November. With the approval of the EU Council, the deal could enter into force in mid-2024. The free trade agreement is an important step for cooperation with states in the Indo-Pacific region. ari
European Parliament
Handelspolitik
Taiwan
Trade Policy
False CV: two AfD candidates keep place on European list
Two AfD politicians will be allowed to run for the European Parliament even though they had provided inaccurate information about their CVs during the election of the lists. The accusation of deliberate deception was not justified, a party convention ruled. The two candidates, Arno Bausemer and Mary Khan-Hohloch, are allowed to keep their list positions ten and 14 and thus have a good chance of entering Parliament in the June 9 election.
Bausemer and Khan-Hohloch are alleged to have made false statements about professional and school qualifications. The party leadership had initially decided that the two candidates would not be allowed to hold internal party offices for two years. But that was not enough for party members. They demanded that Bausemer and Khan-Hohloch be removed from the list. However, this demand was rejected by a party convention. mgr
Left Party Chairman: European Party Congress to mark farewell to Wagenknecht
Left Party Chairman and MEP Martin Schirdewan emphasizes the Left’s unity in the EU in view of Sahra Wagenknecht’s party launch. “The MEPs of the Left stand united with the Left,” Schirdewan said upon request by Table.Media.
He added that the party is already preparing for the European Parliament elections in June 2024. “The European Party Congress in November will set the course for this and at the same time be a first important milestone in the renewal of theparty after the departure of the Wagenknecht group.” On November 17 and 18, the Left Party will adopt its election program and candidate list in Augsburg.
Former MEP Sahra Wagenknecht announced on Monday that her newly founded party would run in the European elections and the upcoming state elections. Wagenknecht wants to give the EU member states more power. fst
European Parliament
Baden-Württemberg calls for subsidies also for strong regions
The EU is suffering from a “triple political-administrative overdose,” according to the position paper that will be adopted today at the BW-EU business summit in Brussels and that is available to Table.Media. SMEs are overwhelmed by a multitude of new regulations and reporting requirements. Examples are the requirements from the taxonomy and sustainability reporting. Instead of practical regulation, there is too much “micromanagement.” One example, it said, is the Packaging Ordinance, where the overall eco-balance does not count, but individual specifications are made.
Baden-Württemberg’s EconomicsMinister Nicole Hoffmeister-Kraut (CDU) and a business delegation of more than 100 people traveled to Brussels for a two-day economic summit. “We need a new mindset and a new spirit in the EU,” she demanded at the start of the trip. In Brussels, Hoffmeister-Kraut and the delegation will hold talks with high-ranking representatives of the EU institutions.
Creation of an ‘SME quarterback’
The position paper goes on to say that regulation by Brussels is too “one-dimensional”: long-term negative consequences for the innovation and competitiveness of SMEs are not taken into account. This is evident in the medical device regulation, the carbon border adjustment mechanism CBAM and is threatening in the upcoming regulation of PFAS chemicals.
The paper also calls for more push for innovative regions. It says there must be the possibility of awarding large-volume subsidies under the Temporary Crisis and Transition Framework (TCTF) not only to previously assisted areas but also to regions such as Baden-Württemberg.
In addition, the creation of an “SME quarterback” is urged. He should report directly to the EU Commission President and thus be above the expert commissioners. The SME check by the new SME quarterback should have a binding character with veto power and thus significantly more competencies than the previous Regulatory Scrutiny Board. mgr
CBAM
Commission announces drug distribution mechanism
EU states should be able to help each other more in the event of an acute shortage of medicines. The EU Commission announced on Tuesday in Brussels that a voluntary distribution mechanism will be launched this October. In this way, a country will be able to announce its need for a certain drug and other member states will then be able to distribute drugs from their stocks. In addition, the EU Commission proposes that the EU member states purchase medicine jointly, as in the case of the Covid vaccine procurement.
Last year, for example, there was a shortage of many medicines even in a large and comparatively rich country like Germany. After a wave of infections, there were supply problems with fever and cough syrups. Antibiotics and cancer drugs were also not always immediately available.
Up to 350 drugs on the list
According to the EU Commission, a list of particularly important drugs will now be prepared. By this, the authority means drugs without a suitable alternative and those where a shortage could seriously harm people.
Solutions to the shortage of these drugs are then to be prepared – if possible – for example through more stocks, more production or more partnerships with third countries. The list could eventually include between 100 and 350 medicines, said EU Health Commissioner Stella Kyriakides. But she also stressed, “Drug shortages cannot be eliminated overnight, because the causes are long-lasting and complex.” dpa
Russia’s highest representative to the EU suspected of espionage
Diplomat Kirill Logvinov is said to work not only for the Russian Foreign Ministry but also for Russia’s foreign intelligence service SWR, according to findings by Belgian intelligence agency VSSE, several sources confirmed to Deutsche Presse-Agentur in Brussels on Tuesday. Previously, he also worked at the Russian Embassy in Berlin between 2010 and 2014, according to his resume.
The case was reported Tuesday by Der Spiegel and several other European media. There had already been initial reports about the suspicion last summer.
There was no information on Tuesday about the kind of work Logvinov might have carried out or is still carrying out for SWR. “We don’t comment on that,” a spokesman for the VSSE intelligence agency told dpa upon request.
Nowadays, espionage is not only considered to be the covert acquisition of information. Activities in the area of undesired political or social influence are also included. This can be done, for example, through the targeted dissemination of false information in the host country.
Post of official ambassador vacant
Logvinov, 48, has been Russia’s highest representative to the EU as Chargé d’affaires since September 2022. The post of official ambassador has been vacant since Vladimir Chizhov was recalled to his homeland last year after some 17 years as Russia’s EU ambassador. Prior to that, relations between Brussels and Moscow had sunk to an all-time low over Russia’s invasion of Ukraine.
When asked why Logvinov was not asked to leave the country in light of the suspicion of espionage, the EU’s foreign service in charge did not give a clear answer on Tuesday. A spokesman merely pointed out that measures were in place “to permanently assess the extent of the threat.”
He also recalled that 19 Russian diplomats had already been declared undesirables (“personae non-gratae”) by the EU in April last year. At the time, EU foreign affairs representative Josep Borrell justified this on the grounds that the individuals were engaged in activities that contradicted their diplomatic status. dpa
Heads
David Denzer-Speck – Europe’s funding policy in mind
For KfW in Brussels: David Denzer-Speck.
“I actually have the luxury of two worlds,” David Denzer-Speck answers laughing when asked whether he likes Brussels or Frankfurt better. “Brussels is incredibly livable, especially with family; we’ve become rooted there,” he says. But of course, he says, he also enjoys his time in Frankfurt. “Brussels and Frankfurt are almost neighbors, three hours by train and four by car.” David Denzer-Speck, head of KfW’s liaison office to the EU in Brussels, knows the route.
Denzer-Speck stems from Tauberbischofsheim in northern Baden, studied economics in Freiburg, with two semesters at the FU Berlin. He then earned his Ph.D. at the Chair of Finance with a focus on central banking in Freiburg. During his studies, he became involved in the alumni association and came into contact with KfW for the first time.
Entry with the financial crisis
“We used to organize trips for young students, and one went to Frankfurt, where we visited the German Stock Exchange, Bundesbank, Deutsche Bank, and KfW, among others,” Denzer-Speck recalls. After earning his Ph.D., and shortly before the outbreak of the financial market crisis in 2007, he went to Frankfurt for three years to work in KfW’s economics department. “It was a really great start, jumping from theory straight into practice.”
Denzer-Speck has now been in Brussels since 2011, first as a desk officer, then as a department director and office manager with offices in Brussels and Frankfurt. “I knew German politics, and KfW is internationally structured in many places, but at the end of the day it is a German institution.” Many important course-setting decisions, especially during the financial market crisis, came and still come from Brussels. Therefore, he says, the move was a great opportunity for him at the time to switch to European politics. “I thought: gosh, let’s try this for three years,” he recalls. “And you see, it turned out to be a few more years.”
At the interface between politics and business
“KfW is at the interface of politics and business,” Denzer-Speck replies when asked what he finds particularly interesting about working for KfW. With his team, he is currently primarily concerned with development finance, funding policy in Europe with a focus on Germany and the regulatory framework. “That’s where KfW is special because on the one hand, it’s a bank and on the other hand it belongs to the public sector. I always say it is a bit like a bridge between the government, the financial sector and the economy.”
At the moment, the focus is on Global Gateway, the European response to the Chinese Silk Road initiative. With other European promotional banks, KfW implements promotional funds all over the world, mainly in Africa, but also in Asia and Latin America. KfW is also heavily involved in environmental and climate financing. With the Green Deal, the EU intervenes in many places in KfW’s promotional activities, and with its promotional activities in Germany and around the world, KfW makes a concrete contribution.
Consulting for EU Institutions
Denzer-Speck particularly appreciates the cooperation with other European promotional banks. “You’re not well positioned on your own,” he is convinced. In Brussels, he shares a joint office with Italian, French, Dutch and Polish colleagues. For smaller banks, there is the association that bundles the work and then goes to the respective capitals. Together, different expertise is thus exchanged. “This is incredibly enriching because you get to work with very many different nice colleagues from all over Europe.”
In addition, KfW is also active in representinginterests to the EU institutions. “We all have an interest in having well-functioning institutions, so at the end of the day we provide a lot of information to our partners free of charge.”
Working in the liaison office is never boring for David Denzer-Speck. He is always on topical issues and the mix of analysis, politics and networking enriches him. He has a lot of creative freedom and a wide range of activities: “From organizing board visits with commissioners to: The coffee machine is not working, who will take care of it?”, he says and laughs. Livia Hofmann
