- Foreign subsidies: Implementation of EU rules causes trouble
- TSMC in Dresden: semiconductors for the automotive industry
- TTC: EU and US to take closer look at foreign investments
- Von der Leyen criticizes China indirectly, yet sharply
- Tobacco tax: Commission to make proposal by December
- New Space: European Investment Fund invests in venture capitalists
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The main suspect in the European Parliament’s corruption scandal, deposed Vice-President Eva Kaili, is at large again. An investigating judge in Brussels ruled yesterday that she could take off her ankle monitor and leave her apartment again.
Her former parliamentary group, the socialist S&D, expelled the Greek woman after the allegations became known. But Kaili still has her mandate. Will she now return to Parliament and take up her work as a non-attached deputy? The opportunity for a first public appearance would come at the mini-plenary session on Wednesday and Thursday in Brussels.
The Commission, like the European Parliament, wanted to draw consequences from the scandal of bribery and alleged influence of third countries such as Morocco and Qatar on decisions of the Parliament. Věra Jourová, the Commissioner for Values, is currently working on the proposal for an independent ethics body, responsible at least for the Parliament and the Commission. According to reports, the proposal will not come on Wednesday as announced, but on June 7.
Advocates of stricter ethics rules in Parliament won’t be thrilled. Already, they consider Jourová’s plans “toothless” and far too late.
We hope you have a wonderful Pentecost!
Markus Grabitz
Feature
Foreign subsidies: Implementation of EU rules causes trouble
Basically, everyone agreed: Berlin, Paris, the EU Commission and German industry supported introducing stricter subsidy controls for non-European companies. During its EU Council presidency, the French government ensured that the regulation on foreign subsidies was hurriedly passed last year. The new rules will enter into force on July 12 – but considerable anger is mounting.
The industry fears being swamped by reporting obligations. “The Commission must ensure that the implementation does not overburden companies”, warns Nadine Rossmann, a Federation of German Industries consultant. The first draft of the implementing regulation was “simply not feasible for multinational companies“. In the meantime, however, the Commission signals to make significant amendments.
European companies particularly affected
A spokesperson merely said that the Commission was currently evaluating stakeholder feedback and aimed to adopt the rules before July 12. The Brussels-based authority presented its draft implementing regulation in February and held a public consultation. The regulation and the accompanying questionnaire set out which financial contributions from foreign governments companies must disclose to the Commission when bidding for public contracts in the EU or acquiring a company.
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