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Growth downgraded
- The European Commission on Tuesday (11 September) downgraded its forecast for eurozone economic growth this year, after turbulence on global credit markets. Economic and Monetary Affairs Commissioner Joaquín Almunia said that growth would be 2.5%, rather than the 2.6% predicted in May.
Rating agencies
- Internal Market Commissioner Charlie McCreevy met Eddy Wymeersch, the chairman of the Paris-based Committee of European Securities Regulators, on Tuesday to discuss the activities of credit-rating agencies. McCreevy, who is considering whether supervisory measures are necessary, requested an urgent report on transparency and conflicts of interest.
Ryanair appeal
- Irish budget airline Ryanair announced on Monday (10 September) that it had lodged an appeal at the European Court of First Instance against the Commission’s decision in June to block its planned merger with rival Aer Lingus. Ryanair has a 30% share in Aer Lingus. The Irish government still holds a 25% stake in the company.
Deutsche Post aid
- The Commission yesterday (12 September) opened an investigation into state aid granted to German postal operator Deutsche Post. Rivals TNT, UPS and Fedex complained that the company had received unfair compensation for fulfilling public service obligations. In 2002, the Commission found that Deutsche Post had received illegal state aid and ordered the German government to recover €572 million.
Chinese toys
- Meglena Kuneva, the consumer protection commissioner, told MEPs yesterday that the EU might ban a range of products from China should the Chinese authorities fail to submit a satisfactory safety report to the Commission next month. She said that reports submitted so far had been unsatisfactory and the ban could include toys and some spare parts.
EU member states are planning to approve common principles on labour markets by the end of this year.
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