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Bank merger rules
- The European Parliament gave its backing on Tuesday (13 March) to Internal Market Commissioner Charlie McCreevy’s plans to limit the power of central banks over banking mergers. Current EU rules allow banks to block mergers in cases where management of the national target is deemed to be in jeopardy. McCreevy’s plans, published last September after controversy in Poland and Italy, would limit the authority of central banks.
Online music licences
- MEPs on Tuesday urged the European Commission to introduce rules on cross-border licensing of online music. MEPs backed a report written by Hungarian Socialist MEP Katalin Lévai in response to a non-binding Commission recommendation for opening the market to greater competition. Lévai argued for tough legislation that would protect less powerful artists by giving them choice in the market for collective rights management societies.
Responsible business
- MEPs adopted a report on corporate social responsibility drafted by UK Socialist MEP Richard Howitt, which calls for EU legislation obliging companies with more than 1,000 employees to minimise negative impacts on the environment and society. The report calls for victims of corporate abuse to be able to seek compensation through the courts.
ECB raises rates
- The European Central Bank raised its main refinancing rate to 3.75% on 8 March and signalled its readiness to raise rates again to 4% by June. The UK’s Bank of England left its main interest rate unchanged on 5.25%.
Eurozone jobs
- Eurozone employment grew by 1.4% in 2006, the fastest rate of growth since 2001, according to figures released by the European Commission’s statistics office Eurostat on Wednesday (14 March). The unemployment rate in the eurozone was 7.4% in January, the lowest level since 1993.
Glass cartel probe
- The Commission said on Wednesday that it had sent charge sheets to glassmaking companies accusing them of fixing the price of flat glass. It did not release the names of the glassmakers but Belgian company Glaverbel said that it had received a statement of objections.
Roaming talks
- Telecoms ministers are to meet informally today (15 March) on the fringes of the CeBIT telecoms and computer trade fair in Hanover to discuss the Commission’s proposals to regulate roaming charges for calls made or received on a mobile phone in a foreign country. On the eve of the meeting, Michael Glos, Germany’s economy minister, said he aimed to advance the debate towards a common position.
The German presidency is to make a concerted effort at a meeting next week (22 March) to convince transport ministers from the other EU states that they should sign up to an ‘open skies’ deal with the US.
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