| Author (Corporate) | Council of the European Union: General Secretariat |
|---|---|
| Series Title | Press Release |
| Series Details | PRES/14/422 (23.07.14) |
| Publication Date | 23/07/2014 |
| Content Type | Legislation, News |
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Main results of the Council The Council adopted the necessary legislative acts to allow Lithuania on 1 January 2015 to become the 19th member of the euro area. "The entry of Lithuania into the euro family is not only a crucial event for this country, but it is of great importance for the whole eurozone. It's a demonstration of the continuing attractiveness of the single currency project and its relevance for the future of our community", said Sandro Gozi, State Secretary for European Affairs of Italy and President of the Council. "Lithuania's consistent efforts have paid off: today the eurozone has opened the door for us", said Algirdas Butkevičius, Prime Minister of Lithuania. "The adoption of the euro has been Lithuania's strategic step, well thought-out economically and politically, to foster national economic growth. Lithuania's accession to the single European currency will strengthen the EU's Economic and Monetary Union. Deeper euro integration means greater security as well." The Council took note of the work programme proposed by the Italian presidency for the duration of its term of office. Other items Without discussion, the Council formally adopted the following legislative acts and decisions: + a regulation for managing financial responsibility linked to investor-to-state dispute settlement proceedings; + a directive aimed at guaranteeing access to basic payment services and improving information on fees related to payment accounts; + a directive on undertakings for collective investment in transferable securities (UCITS), introducing specific provisions on the depositary's safekeeping and oversight duties; + a regulation aimed at improving safety in the securities settlement system and opening the market for central securities depositories (CSD) services; + the Council's position on a draft directive granting member states more flexibility to decide whether or not they wish to cultivate genetically modified organisms (GMOs); + a regulation on the mutual recognition of electronic identification; + a regulation on the financing of actions by the European Maritime Safety Agency to fight pollution at sea; + a directive containing updated rules on marine equipment on board of EU ships |
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| Source Link | Link to Main Source http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/EN/genaff/144128.pdf |
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| Subject Categories | Politics and International Relations |
| Countries / Regions | Europe |
