Cyprus prepares EU takeover - EUbusiness Week newsletter 580 - EUbusiness.com

EUbusiness Week 580 top stories: Grand eurozone deal to help Italy and Spain; EU proposes banking union as ‘big leap forward’; EU, US, Japan step up rare earths battle with China; Bulgaria passes new waste law in bid to dodge EU fines; Iceland takes quick steps towards EU membership; Cannabis production growing in Europe: report

This Week’s Top Stories

1. Grand eurozone deal to help Italy and Spain
2. EU proposes banking union as ‘big leap forward’
3. EU, US, Japan step up rare earths battle with China
4. Bulgaria passes new waste law in bid to dodge EU fines
5. Iceland takes quick steps towards EU membership
6. Cannabis production growing in Europe: report

Publisher’s Note

Denmark’s term as EU president comes to an end this weekend, when it hands over the baton to Cyprus. Tiny Cyprus, a country still divided after the Turkish invasion 38 years ago, and with its economy in recession, will nevertheless be hoping to prove it can carry its weight as EU president.

The omens are not exactly great, however. Turkey, which refuses to recognise Cyprus, could threaten the presidency feel-good factor. And the country announced Monday that it had become the fifth out the 17 eurozone countries to seek bail-out assistance from its eurozone partners.
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Regards,

Nick Prag
Publisher, EUbusiness

PUBLIC TENDER – MACEDONIA

Granting of state-owned agricultural land under lease – Public Notice, Ministry of Agriculture, Forestry and Water Economy in Macedonia
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1. Grand eurozone deal to help Italy and Spain

Leaders from the 17 eurozone countries have sealed a dramatic deal to direct emergency measures at crisis-hit Italy and Spain and boost the embattled economy, sending markets sharply upwards.
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EU agrees EUR 120 bn ‘growth pact’

2. EU proposes banking union as ‘big leap forward’

With the European Union facing its biggest crisis in 60 years, Brussels proposes taking “a big leap forward” to save the troubled bloc by setting up a single banking union.
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3. EU, US, Japan step up rare earths battle with China

The European Union, the United States and Japan have asked the World Trade Organization to form a panel to resolve a dispute over China’s export restrictions on rare earths.
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4. Bulgaria passes new waste law in bid to dodge EU fines

Bulgaria’s parliament has passed a new waste management law meant to bring the country into line with European Union rules and avoid the looming threat of non-compliance fines.
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5. Iceland takes quick steps towards EU membership

Iceland is moving rapidly in its quest to join the EU but the contentious issue of fishing rights has yet to be tackled, say top EU and Icelandic officials.
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6. Cannabis production growing in Europe: report

The market share of cannabis herb is steadily increasing across Europe at the expense of imported cannabis resin, says the European Monitoring Centre for Drugs and Drug Addiction.
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EUROPEAN LAW

Microsoft: a European court upheld a billion-dollar EU fine against Microsoft on Wednesday but reduced the penalty by tens of millions of euros.
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Ukraine delays ex-PM trial until after Euro 2012 final
Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions

Council Watch

Pensions: EU President Herman Van Rompuy wants Member States to look at changing the age of retirement to take into account longer life expectancy, reports Welt am Sonntag.
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Juncker to stay on as Eurogroup chief: sources
EU ministers agree launch of Montenegro accession talks
EU imposes fresh sanctions on Syria
EU embargo already hurting Iran oil exports
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Commission Watch

Budgets: EU leaders want to give the Commission the final say over national budgets in the eurozone and banking supervision across the single market, says a top level report.
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EU offers to help Zimbabwe clean up diamond sector
Barroso says more EU union may mean treaty change
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Parliament Watch

Transparency Register: over 5,000 interest groups have registered with the Parliament or European Commission for the EU Transparency Register, in its first year.
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A draft law to restrict the general public’s access to chemicals that can be used to make home-made explosives has been agreed by Parliament and Council representatives. Also this week, national parliamentarians and Agriculture Committee MEPs agreed that CAP reform should involve a fair budget, less red tape and flexible greening.
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EU diary

28-29 Jun, European Council
1 Jul, Cyprus takes over EU presidency
3 Jul, EC proposal on protection of EU financial interests
16-17 Jul, Agriculture and Fisheries Council
23 Jul, Foreign Affairs Council
26 Jul, Economic and Financial Affairs Council
The Week Ahead
Long-term diary