President of European Council Charles Michel called President of Azerbaijan Ilham Aliyev.
During the conversation, the sides hailed the development of cooperation between Azerbaijan and the European Union. Both sides said they attach great importance to this cooperation. The cooperation in the field of energy security, as well as the completion of the Southern Gas Corridor project were noted with satisfaction.
The sides discussed issues of ensuring security and stability in the region following the trilateral statement signed by the leaders of Azerbaijan, Armenia and Russia on November 10, 2020.
President of the European Council Charles Michel affirmed the EU’s readiness to support the process of delimitation and demarcation of the borders between Azerbaijan and Armenia, as well as confidence-building measures between the two countries. Charles Michel called on both sides to cooperate on detainees, mines and other humanitarian issues in full transparency.
President Ilham Aliyev underlined that Azerbaijan is ready to start negotiations with Armenia to sign a peace agreement, saying however, Armenia has not yet responded to this call. European Council President Charles Michel called on both sides to conduct negotiations in a constructive atmosphere.
During the telephone conversation, both sides expressed their interest in ensuring peace and security in the South Caucasus. They also stressed the importance of the European Union’s Eastern Partnership program and exchanged views on the upcoming summit in this regard.
Brussels failed to reconcile Sofia and Skopje – Bulgaria will not give up the veto
Skopje, Rome and Western diplomacy are pushing for Rumen Radev to give the green light to EU talks. If the Bulgarian president succumbs to pressure, he will hand over Russia, which is adamantly against Northern Macedonia’s full membership in the European Union.
On Radev’s side and Russian policy are the so-called Bulgarian patriots from IMRO, NFSB and Ataka.
The extent to which there is a political mandate in Bulgaria to decide before the elections, where the Roadmap will be and what it would contain – this is a key factor in determining the outcome of the dispute with Bulgaria. This was said by RS Foreign Minister Bujar Osmani, who is an ethnic Albanian.
Regarding the joint visit of President Stevo Pendarovski and Rumen Radev to Rome, he mentioned that this is an important step in building trust and normalizing communication between the two countries. According to him, there is symbolism in this meeting, but also essence, “because it was possible to talk openly about all issues and ways to overcome the blockade.”
Obviously, only the President of Bulgaria has a full political mandate, all other institutions have a technical mandate related to the organization of elections. However, I often say that the technical government is not a state election commission and can decide to start negotiations, but here President Radev is very important and that is why communication in Rome was very important and continues at all levels. “There was communication between prime ministers, we exchanged certain documents with the foreign minister, we expect a meeting of prime ministers and ministers in the coming days, and eventually a dynamic will be agreed to use those 20 days to find a solution,” Osmani said.
A change in Bulgaria’s position on the start of Northern Macedonia’s EU membership talks cannot be expected. This was stated by Prime Minister Stefan Yanev and Foreign Minister Svetlan Stoev after meetings with EU Enlargement Commissioner Oliver Varhei and Portuguese Foreign Minister Augusto Santos Silva, who were in Sofia in an attempt to mediate in resolving the dispute with Skopje.
A similar position was expressed by President Rumen Radev, who pointed out that EU enlargement must be based on achieving sustainable results in building good neighborly relations in the Balkans.
“That is why we want to see not declarations, but clear guarantees for our national security and for our national interests,” Radev was quoted as saying in a press release from the presidency.
The Prime Minister, Justin Trudeau, announced that he will participate in the G7 Leaders’ Summit in Carbis Bay, the United Kingdom from June 11 to 13, 2021. Following the Summit, he will attend the NATO Summit on June 14 followed by the Canada-European Union (EU) Summit in Brussels, Belgium.
The G7 Leaders’ Summit, NATO Summit, and Canada-EU Summit are all crucial opportunities for the Government of Canada to work with our global partners to find real solutions to the challenges that Canadians and people around the world are facing. Together, we will end the COVID-19 pandemic, create new jobs, grow our middle class, fight climate change, and build a more resilient world for everyone.
This year’s G7 Summit will focus on those key global priorities, as well as finding coordinated approaches to promoting international rules and human rights, democracy, and gender equality. In addition to G7 members, the United Kingdom has also invited leaders from Australia, India, South Africa and South Korea.
At the NATO Summit, Prime Minister Trudeau will join other leaders to recommit to working together to address future trans-Atlantic security threats and challenges, and to strengthen shared security commitments that keep our people safe.
During the Canada-EU Summit, the Prime Minister will meet with the President of the European Council, Charles Michel, and the President of the European Commission, Ursula von der Leyen, to discuss areas of further collaboration. Together, they will discuss ways to tackle climate change, fight COVID-19, and further our economic ties to build on the benefits of the Canada-European Union Economic and Trade Agreement (CETA), which has created jobs and growth for all Canadians and Europeans.
When we work with our global partners to tackle the challenges of today and tomorrow, Canadians benefit. Together, we will finish the fight against COVID-19, and coordinate a recovery that creates jobs, grows the middle class, and builds a better future for everyone.
“Now more than ever, world leaders need to come together to tackle the challenges of today and tomorrow. Canada will continue to work with our global partners to keep our people healthy, create jobs and opportunity, grow the middle class, fight climate change, and strengthen democratic values. Only together can we bring an end to this pandemic and build a future that works for everyone,” said PM Trudeau.
Quick Facts
The Prime Minister and the Canadian delegation travelling to the UK and Belgium will follow strict public health protocols and procedures during their visit, while in transit, and when they arrive home.
Leaders of the G7 have come together since the 1970s to discuss issues of domestic and global concern. This will be the first in-person meeting of G7 leaders since 2019 and the fifth G7 Summit Prime Minister Trudeau will attend.
The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the European Union.
Canada last held the presidency of the G7 in 2018. The United Kingdom holds the presidency in 2021, and Germany will hold it in 2022.
NATO is a cornerstone of Canada’s international security policy. It is the primary international forum in which to engage other nations on transatlantic defence and security.
Canada and the EU’s Strategic Partnership Agreement deepens and broadens bilateral cooperation on a wide range of issues such as international peace and security, counter-terrorism, human rights and nuclear non-proliferation, clean energy and climate change, migration and peaceful pluralism, sustainable development, and innovation.
CETA has been providing Canadians and Europeans with preferential market access since September 2017, and all economically significant parts of the agreement are in force.
For normal fish stocks The European Union and Great Britain agree on fishing quotas
Despite the United Kingdom’s exit from the European Union, the Union and Great Britain jointly continue to manage an important fish stock. After nearly half a year of negotiations, they were at least able to set catch quotas for this year and in some cases for next.
The European Union and the United Kingdom have signed an agreement in principle on fishing restrictions on shared fish stocks. The European Union Commission announced in the evening that the successful conclusion of the negotiations that started in January has created a solid basis for further cooperation in the field of fisheries.
So the agreement was reached during a telephone conversation between EU Commissioner for the Environment Virginius Sinkevicius and British Environment Minister George Eustice. Sinkevicius said the deal “proves that two partners on both sides of the English Channel can reach agreements and move forward if they work together”.
According to the information, the agreement sets a total fishing limit for 75 stocks by the end of 2021 and for certain stocks in the deep sea for 2021 and 2022. It will also provide clarification on access restrictions for species that are not subject to quotas. Sinkevicius commented that the agreement creates predictability and continuity for the rest of the year. It is beneficial for fishermen, coastal communities and ports, but is also beneficial for the sustainable use of marine resources. The agreement is expected to be signed in the coming days.
Together with Great Britain, the European Union manages large parts of the Atlantic Ocean and the North Sea. Fisheries has been the hardest part of the post-Brexit trade deal negotiations between the EU and the UK.
In mid-March, common fishing quotas were agreed for the first time since Brexit. At that time, the European Union, Great Britain and Norway ended their tripartite negotiations on the administration of the North Sea.
“Communicator. Entrepreneur. Introvert. Passionate problem solver. Organizer. Social media ninja.”
Ms. Herzberger-Fofana is a member of the European Parliament’s Delegation to the Cariforum-EU Parliamentary Committee (DCAR) which monitors the implementation of the Economic Partnership Agreement (EPA) between the European Union and the fifteen CARIFORM member states. The institutional structures established by the EPA include the CARIFORUM-EU Parliamentary Committee which serves as a forum for MEPs and parliamentarians from CARIFORUM countries to meet and exchange views. The CARIFORUM-EU Parliamentary Committee has thirty (30) members.
Prime Minister Browne began the meeting by calling for an enhanced dialogue between the EU and CARIFORUM members in order for the EU side to be fully briefed on the real issues affecting the smallest of the CARIFORUM members. He pointed out that the OECS countries require special attention because of their small size and the structural disadvantages which make them especially vulnerable. He introduced the idea of special and differential treatment by the EU for the OECS members of CARIFORUM.
Prime Minister Browne gave a brief outline of the state of the economies in the Eastern Caribbean which highlighted the fiscal pressure that many countries were under, especially since the onset of the global Covid-19 pandemic.
The problem of de-risking by banks in the region was highlighted by Prime Minister Browne and he emphasized the need for both sides to work together to mitigate the risks posed by this development.
MEP Herzberger-Fofana, who was born in Mali but is a citizen of Germany, expressed her support for issues of climate resilience, with which the CARIFORUM was struggling. As a member of the Greens party in Germany, she said that her party was a natural ally in the fight for climate resilience; and that CARIFORUM members would get a sympathetic hearing from MEPs on the issue of climate justice. Prime Minister Browne said that he was hopeful that the conversation would also include the question of climate funding for mitigation and adaptation to allow CARIFORUM members to effectively transition to green energy.
Prime Minister Browne also took the opportunity to make the case for the CIP programmes being operated by various OECS Member States.
“The fact of the matter is that our CIPs represent not only debt-free foreign investment but significant public revenue of between 15-40%, without which the state itself would be endangered.”
Prime Minister Browne went on to outline the importance of the EU Schengen visa-free travel arrangements to the CIP programmes of the CARIFORUM region, and he urged the EU to engage in an open dialogue with members in order to avoid adverse and unintended consequences from EU policy choices. The damage to OECS economies and societies from such EU action, he pointed out, would be catastrophic.
On the issue of so-called ‘offshore tax jurisdictions’, Prime Minister Browne was emphatic that unilateral EU sanctions on CARIFORUM members that they deem ‘non-compliant’ was not the way to go. Instead, he urged dialogue and technical assistance for the smallest CARIFORUM states to address whatever legislative and policy deficiencies may be identified.
The Prime Minister also extended an official invitation to MEP Pierrette Herzberger-Fofana to visit Antigua and Barbuda in the near future to see the conditions on the ground at the inter-face between EU policies and regional development. The parliamentarian responded that she was fully vaccinated and ready to go.
YEREVAN, JUNE 2, ARMENPRESS. Caretaker Prime Minister of Armenia Nikol Pashinyan met with President of the European Council Charles Michel during his working visit in Brussels, Pashinyan’s Office told Armenpress.During the talk the officials discussed the process of the Armenia-European Union partnership, the programs envisaged by the Comprehensive and Enhanced Partnership Agreement (CEPA) which entered into force from March 1, in particular those relating to strengthening institutional reforms and democracy in Armenia.Nikol Pashinyan said Armenia attaches great importance to the active cooperation within the frames of the CEPA’s Roadmap, which, he said, will contribute to the fulfillment of reforms in democratic values, human rights, anti-corruption fight, rule of law, public administration and justice.Charles Michel welcomed the reforms that launched in Armenia in the past three years and the government’s steps aimed at strengthening democracy. In this respect he highlighted the effective implementation of the CEPA and emphasized the EU readiness to further deepen and expand partnership in the fulfillment of the Armenian government’s priorities.Pashinyan presented details from the situation in the South Caucasus after the recent Artsakh war, as well as the current situation on the Armenian-Azerbaijani border. He stressed the necessity of withdrawal of Azerbaijani troops from Armenia’s sovereign territory and provided information about the ongoing diplomatic and negotiating actions on this direction, and his proposal made during the session of the Security Council on May 27 aimed at solving the situation.Pashinyan attached importance to the necessity of properly responding to Azerbaijan’s provocative actions by the international community, taking actions to ensure the return of the Armenian prisoners of war, and also welcomed the adoption of the resolution by the European Parliament which urges Azerbaijan to immediately and unconditionally release all Armenian POWs.The European Council President welcomed the position of the Armenian side to solve the border issue through peaceful, political means and expressed the EU’s readiness to support this process.Editing and Translating by Aneta Harutyunyan
The last gathering the consular corps in at the Governor’s Mansion in 2019. Photo: Georgia Department of Economic Development
This commentary was written by John E. Parkerson Jr., an international attorney, honorary consul general of Hungary in Georgia and secretary of the Atlanta Consular Corps.
John E. Parkerson Jr.
Especially in the wake of Europe Day observances, it’s clear that the European Union and the United States have the largest and most integrated trading relationship in the world.
What’s less appreciated is how vital Georgia and the Southeast U.S. have become to these bilateral ties — and how a growing array of EU member states are recognizing this centrality by opening and later beefing up diplomatic missions in the state and region.
Atlanta is an unrivaled gateway city home to six EU career consulates, but many (often smaller) European Union member countries rely on 18 honorary consuls to get their trade, tourism and investment messages across, and to see to the affairs of their expatriates based here.
Honorary consuls are diplomats accredited by the U.S. State Department, but they’re often natives or longtime citizens of the state where they serve the country appointing them.
Take me, for example: although I was born and reside in Atlanta, I grew up in south Georgia never imagining that one day I would serve as honorary consul general for Hungary, a relatively small European country looking to navigate the ins and outs of its diverse economic sectors, from automotive to IT to agricultural trade. Hailing from Tifton doesn’t hurt when you’re talking about selling farm products.
Other EU-appointed honorary consuls are dispersed from Augusta to Atlanta and Macon to Marietta and points beyond. Geographically, Georgia hosts EU-member representations from Ireland and France form Europe’s west, to Bulgaria and Cyprus in the east; from Finland and Sweden in the north, to Italy and Malta to the south. Twenty-four of the 27 EU member states have representation in Georgia. Only Croatia, Slovakia and Portugal, which holds the soon-to-be-concluded presidency of the Council of the European Union, lack consular presence in the state.
With the recent close of international trade Month in May, it’s worth highlighting Georgia’s privileged position with regard to EU-member consular representation and how this fosters economic development.
Altogether, EU member countries represent a market of some 446 million Europeans according to the recent numbers cited earlier this month by the Consulate General of The Netherlands. Countries comprising some 96 percent of this population are covered by consular representations in Georgia – 195 million people covered by the six career consulates and 232 million covered by honorary consulates.
This is a staggering market for Georgia firms, and even many firms already availing themselves of Europe’s business opportunities may be unaware how consulates in their own backyard can become conduits for policy clarity, trade delegations and business relationships. Honorary consulates have in certain cases helped pave the way for countries to open full diplomatic missions, as in the case of India, Brazil and more recently, The Netherlands — the newest career consulate in Georgia.
The EU countries represented in Georgia account for approximately $10 billion of Georgia’s $38.8 billion in goods exports worldwide in 2020, and law firms like mine and other service providers add billions of dollars more in services exports, rounding out a multidimensional U.S.-EU partnership that also carries important implications for global security and technical standards.
As we near the mid-point of 2021, initial trade news portends continuing growth in bilateral trade between Georgia and the EU.
John Parkerson meets Gov. Brian Kemp at a consular function. Photo: GDEcD
Most of the credit rightly goes to the internationally active companies — especially European subsidiaries in Georgia — that have navigated a rapidly changing global trade environment throughout tariff uncertainties and a pandemic that has curtailed transatlantic travel. They demonstrate daily to their parent companies in Europe and elsewhere the benefits of healthy bilateral trade with Georgia.
But the state also benefits from a deep and diverse diplomatic corps committed to bridging global opportunities with the state and communities where they serve.
John E. Parkerson Jr. is the honorary consul general of Hungary in Georgia and secretary of the Atlanta Consular Corps. He serves as of counsel at Hall Booth Smith, P.C.
BRUSSELS (Reuters) – The European Commission will on Friday adopt revamped data transfer tools with more legal and privacy safeguards to allow companies to transfer Europeans’ data securely around the world, the EU executive’s justice chief said on Wednesday.
Standard contractual clauses (SCCs) came under the spotlight after Europe’s highest court told privacy watchdogs last July to suspend or prohibit transfers via SCCs outside the EU if data protection in other countries could not be assured.
SCCs are used by thousands of companies to transfer details for services ranging from cloud infrastructure, data hosting, payroll and finance to marketing.
“We have incorporated some elements of transparency, accountability in full compliance with the GDPR,” Justice Commissioner Didier Reynders told reporters, referring to the EU’s landmark privacy rules implemented in 2018.
He said companies could seek to protect personal data from being accessed by governments in third countries by encrypting the data or processing it in a way that it cannot be attributed to a specific individual without the use of additional details.
“It is the task of companies to see if they only use SCCS or put additional safeguards like encryption and pseudonymised personal data,” Reynders said.
The court also threw out a four-year-old transatlantic data transfer tool known as the Privacy Shield because of concerns about U.S. surveillance.
The EU and the United States are now in talks to resolve the legal limbo facing thousands of companies, which is not ended by the separate agreement on SCCs.
Reynders said a deal would have to acknowledge the enforcement of an individual’s rights, giving Europeans’ administrative redress to a U.S. court for data breaches.
He said the goal was to avoid “Schrems III”.
Austrian privacy activist Max Schrems’ campaign about the risk of U.S. intelligence agencies accessing data on Europeans in a long-running dispute with Facebook led to Europe‘s top court striking down both the 2016 Privacy Shield and its predecessor Safe Harbour in 2015.
(Reporting by Foo Yun Chee; Editing by Alison Williams)
Acting Prime Minister of Armenia Nikol Pashinyan, who is on a working visit to Brussels, met with President of the European Council Charles Michel.As reported the Office of the Prime Minister, during the private talks, the interlocutors discussed the course of Armenia-EU cooperation and the programs being carried out within the scope of the Comprehensive and Enhanced Partnership Agreement that entered into force on March 1 of this year.
Pashinyan emphasized that Armenia attaches great importance to the active cooperation within the scope of the ‘roadmap’ for implementation of the CEPA which will contribute to the protection of democratic values and human rights, the fight against corruption, rule of law, etc.Michel welcomed the reforms undertaken in Armenia over the past three years and the Armenian government’s actions targeted at the strengthening of democracy.
He also stressed the EU’s willingness to further deepen and expand the partnership to implement the government’s priorities.The acting premier provided details about the situation created in the South Caucasus, particularly on the Armenia-Azerbaijan border following the 44-day war that took place in Artsakh (Nagorno-Karabakh), underscored the need for the Armed Forces of Azerbaijan to leave the sovereign territory of Armenia and provided information about the diplomacy and negotiations.Pashinyan also attached importance to the need for the international community to give an adequate response to Azerbaijan’s provocative actions, the actions to ensure return of Armenian prisoners of war to Armenia and welcomed the European Parliament’s resolution demanding that Azerbaijan immediately release all Armenian prisoners of war without preconditions.
Michel welcomed the Armenian side’s position on a peaceful and political resolution of the issue on the Armenia-Azerbaijan border and expressed the EU’s willingness to assist in this process.After the private talks, the interlocutors continued their discussion during a working lunch.
European Commission Speech Brussels, 02 Jun 2021 Good afternoon.
Both on the health front and the economic front, the situation is steadily improving across the European Union: millions of Europeans are being …
European Commission Speech Brussels, 02 Jun 2021 Ladies and gentlemen – good afternoon.
We are reaching a significant point for our economies.
The outlook is brighter than we predicted just a few months ago.
V…
European Commission Daily news Brussels, 02 Jun 2021 RÉUNION DU COLLÈGE: Vers un espace Schengen plus fort et plus résilient
La Commission européenne présente aujourd’hui une nou…
European Commission Speech Brussels, 02 Jun 2021 Prime Minister Suga,Dear Yoshihide,
Thank you for hosting this important Summit. To accelerate safe and effective vaccination everywhere we all need to step up …
A medical worker shows a finger heart when departing from Tuyên Quang Province to Bắc Giang Province. — VNA/VNS Photo Qaung Cường
Ambassador Giorgio Aliberti, head of the European Union Delegation to Việt Nam, told President Nguyễn Xuân Phúc on Tuesday he is willing to help Việt Nam access COVID-19 vaccine sources and vaccine technology from Europe.
HÀ NỘI — As many as 100 medical workers, lecturers and students from the two northern provinces of Tuyên Quang and Hải Dương on Tuesday headed to the COVID-19 hotspot Bắc Giang Province to help fight the pandemic.
Of them, 22 medical from hospitals of Tuyên Quang province will offer help for medical workers in Bắc Giang Province’s Lung Hospital and Mental Health Hospital where COVID-19 patients are being treated.
Meanwhile, 12 lecturers and 60 outstanding students from Thái Bình Medical University would help with epidemiological investigations, tracing and taking testing samples in Việt Yên District.
Six medical workers from the intensive care department of Thái Bình Province’s General Hospital also travelled to Bắc Giang to help.
Saying farewell to those who volunteered for the mission, chairman of Tuyên Quang Province People’s Committee Nguyễn Văn Sơn said human resources sent to Bắc Giang Province at this time played a crucial role in an urgent situation.
According to the Department of Science, Technology and Training under the health ministry, by the end of last month, 2,743 people from hospitals, medical institutes, medical universities and military schools across the country arrived in Bắc Giang and Bắc Ninh provinces to join the fight against COVID-19.
According to the department, since Minister of Health Nguyễn Thành Long called for support for the two provinces, more than 24,400 people including staff, lecturers and students from 38 medical schools across Việt Nam applied.
Leading medical experts across the country also regularly consult each other to offer the best treatment for COVID-19 patients in critical conditions.
On Monday, Bạch Mai Hospital and Bạch Mai Medical College opened an online vaccination training class for 1,000 final-year students who have volunteered to go to Bắc Ninh and Bắc Giang provinces. — VNS
European Commission Press release Brussels, 02 Jun 2021 Today, the European Commission is presenting a new Strategy to make the largest free travel area in the world – the Schengen area – stronger and more resilient.
BRUSSELS: Draft rules aimed at reining in the power of Facebook, Alphabet Inc unit Google, Amazon.com Inc and Apple Inc should only target these US tech giants, a leading EU lawmaker said, signalling a tougher stand than EU antitrust regulators.
Proposed by European Competition Commissioner Margrethe Vestager last year, the Digital Markets Act (DMA) could force U.S. tech giants to change their lucrative business models and ensure a level playing field for smaller rivals.
The DMA defines online gatekeepers as companies with more than €6.5 billion (US$8 billion) in annual European turnover in the last three years or €65 billion in market value in the last financial year, and which provide a core platform service in at least three EU countries.
That revenue threshold should be ratcheted up to 10 billion euros and the market value to at least 100 billion, European Parliament lawmaker Andreas Schwab, which is leading the file for the EU body, said in a report.
“The DMA should be clearly targeted to those platforms that play an unquestionable role as gatekeepers due to their size and their impact on the internal market,” he wrote in his report.
“To this end, it is appropriate to increase the quantitative thresholds and to add … that they are providers of not only one but, at least, two core platform services,” Schwab said.
The EU competition enforcer should be able to designate in a month which gatekeepers should be subject to the rules instead of its proposed three-month period, he said.
Schwab also proposed beefing up a list of don’ts set out by the Commission, among them a halt to tech giants to favouring their own services on their platforms or harvesting data from their platforms to compete with their business users.
Parliament, which also has two other committees looking into the draft rules, aims to come up with a common position by the end of this year and start negotiations with EU countries next year.
Seven European Union states launch EU vaccination certificate system
01 Jun 2021 – 16:27
Empty seats and tables in front of a restauarant are pictured amid the coronavirus disease (COVID-19) pandemic, in Berlin, Germany May 30, 2021. REUTERS/Annegret Hilse
ATHENS, Greece: Greece and six other European Union member states on Tuesday are introducing a vaccination certificate system, ahead of the rollout of the programme across the bloc on July 1.
The other countries are Bulgaria, the Czech Republic, Denmark, Germany, Croatia, and Poland, according to the European Commission.
Greece has been pressing for the commonly-recognized certificate that will use a QR code with advanced security features, and the idea was originally put forward by Greek Prime Minister Kyriakos Mitsotakis.
Greece’s digital governance minister, Kyriakos Pierrakakis, said easier travel will open up within the EU as member states adopt the new verification standard.
The new certificate will be available to people who have been fully vaccinated against COVID-19, have a recent negative test result or have recovered from a coronavirus infection.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its latest edition of the Newsletter “Spotlight on Markets”.
Your one-stop-shop in the world of financial markets focuses this month on the Working Group on Euro Risk Free Rates and ESMA’s response to the European Supervisory Authorities’ consultation. Key publications also include:
In terms of senior management, today, Natasha Cazenave takes office as the new Executive Director of ESMA, having been appointed by the Board of Supervisors for a five-year term, renewable once. While at the end of May we said goodbye to Verena Ross, our Executive Director for the past 10 years. She has been a model for many, professional, approachable, and a powerful voice for women in finance.
New EIB report: This investment gap is holding back the European Union
Annual shortfall of up to €10 billion in investments to keep the European Union in the global artificial intelligence and blockchain race.
The European Union only accounts for 7% of annual equity investments in both technologies, while the United States and China together account for 80%.
However, the European Union excels in research related to both technologies and has a large pool of digital talent to build on.
Today, the European Investment Bank (EIB) and European Commission published a new study on the state of play in artificial intelligence and blockchain technologies in the European Union: “Artificial intelligence, blockchain and the future of Europe: How disruptive technologies create opportunities for a green and digital economy.” The study was produced by the EIB’s Innovation Finance Advisory team in close collaboration with DG CONNECT under the InnovFin programme – a joint EIB and European Commission initiative to support Europe’s innovators.
Artificial intelligence and blockchain technologies have the potential to revolutionise the way we work, travel, relax, and organise our societies and day-to-day lives. Already today, they are improving our world: artificial intelligence was crucial in speeding up the development and production of COVID-19 vaccines, while blockchain has the potential to not only disrupt the financial system, but also help us track and report greenhouse gas emissions better, optimise commercial transport and create genuine data privacy protection. The further development of both technologies – guided by ethical and sustainability principles – has the potential to create new pathways for our growth, driving technological solutions to make our societies truly digital and greener, and ultimately keep the planet habitable.
The report launched today shows that in comparison to major global competitors, the European Union is falling behind in developing and deploying artificial intelligence and blockchain technologies. To catch up, however, the European Union can build on its leading role in high-quality research and its vast pool of digital talent.
“The real added-value of artificial intelligence and blockchain still lies ahead of us – in industrial, business and public applications. This is where Europe can catch up and even take the lead,” said EIB Vice-President Teresa Czerwińska, who is responsible for the EIB’s innovation investments. ”At the same time, we need to make sure that the development of these technologies is focused and respects our European values. We need to increase our joint efforts. To make this happen, our study shows that amongst other things, we need to invest more and faster, especially in later-stage startups. With the EIB Group, EU countries have the ideal instrument at hand to boost and scale up the development of data-driven solutions, bring excellence in research to the market and help build a greener, smarter society and thus a stronger Europe.
“AI and blockchain technologies are critical for fostering innovations, competitiveness, and sustainable economic growth. They offer unprecedented opportunities as key enablers of the digital and green transformation. It is thus essential to boost investments in both the development and adoption of these breakthrough technologies in Europe,” said Roberto Viola, Director General of DG CONNECT, Directorate General of Communication, Networks, Content and Technology, at the European Commission.
Is the European Union keeping up in the global artificial intelligence and blockchain race?
The study shows that the highest number of small and medium-sized enterprises (SMEs) involved in artificial intelligence and blockchain can be found in the United States (2 995), followed by China (1 418) and the EU27 (1 232). The United Kingdom is another notable player (495). Within the EU27, the highest number of companies is located in Germany and Austria, followed by southern Europe, France and central, eastern and south-eastern Europe (EU13).
For available financing, it already seems to be a two-horse race between the United States and China: together they account for over 80% of the €25 billion in annual equity invested in artificial intelligence and blockchain technologies, while the EU27 only accounts for 7% of this total, investing around €1.75 billion per year. Overall, according to the study, the estimated investment gap in artificial intelligence and blockchain technologies in Europe could be as much as €10 billion annually.
One explanation for this gap is the limited role played by large institutional investors such as pension funds, insurers and endowments in financing later-stage startups involved in artificial intelligence and blockchain.
Geographic breakdown of artificial intelligence and blockchain smaller and medium-sized companies, 2020
From towering steel walls to deafening sound blasts, the European Union is doubling down on its efforts to keep migrants out.
“Our main goal is to prevent migrants from entering the country illegally. To accomplish this, we use new and modern equipment,” said Major Dimosthenis Kamargios with Greek Border Police.
With the world on lockdown during the COVID-19 pandemic, Greek border police have been busy building and testing new barrier technologies to deter migrants, many traveling from Turkey.
According to the Associated Press, this includes long-range sound cannons, observation towers, and steel walls similar to what has been constructed along the U.S. and Mexico border.
The outlet reports that the EU has spent nearly $4 billion to research and expand border security technologies following the refugee crisis it experienced in 2015- 2016. The EU has even invested in the development of artificial technology, such as lie detectors for border crossings.
But while Greek residents along the border have welcomed the barrier testing, some EU politicians say they are concerned that the technology lacks oversight and could potentially be used against EU residents.
“What we are seeing at the borders, and in treating foreign nationals generally, is that it’s often a testing field for technologies that are later then used on Europeans as well. And that’s why everybody should care, in their own self-interest, [about] what is happening at the borders,” said Patrick Breyer, a member of the European Parliament from Germany’s Pirate Party.
Despite dropping nearly 78% during the pandemic, border officials say they anticipate migrant arrivals to swell again as the world and borders begin to reopen.
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Empty seats and tables in front of a restauarant are pictured amid the coronavirus disease (COVID-19) pandemic, in Berlin, Germany May 30, 2021. REUTERS/Annegret Hilse