Quote of the Week: We're all human and we all goof. Do things that may be
wrong, but do something - Newt Gingrich
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ESBA WEEKLY of Friday 27 July 2001 - VOL 3 - N° 33
Headlines of WEEK 30:
- EU / FINANCE: EC also prolongs consultation on new capital standards
- EU / TRADE: Trade facilitation agreements with Lithuania and Latvia
- EU / GOVERNANCE: EC issues White Paper on European Governance
- EU / SINGLE MARKET: Fixed internal and cross-border transfer tariffs
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EU / FINANCE
Brussels 23/07/2001: EC also prolongs consultation on new capital
standards
Further to the Basel Committee decision to undertake another round of
consultation in early 2002 (see ESBA WEEKLY - Vol 3 - N 29), the European
Commission has decided that it will conduct a parallel round of
consultations with interested parties concerning the application of new
rules on capital standards to the European banking and investment
industry.
ESBA, LIKE ALL OTHER BUSINES ORGANISATIONS, ALREADY EXPRESSED THEIR
CONCERNS ON THE POTENTIAL IMPLICATIONS OF THE PROPOSED NEW REGIME FOR
LENDING TO SMALL BUSINESSES, AND ON THE TIGHT CONSULTATION SCHEDULE SO FAR
(the new round of consultation in 2002 was initially not foreseen).
IT SEEMS THAT THE CONCERNS EXPRESSED BY ALL SMEs ORGANISATIONS HAVE BEEN
TAKEN INTO ACCOUNT FOR THE MOMENT. ESBA HOPES THAT THIS EXTENSION OF THE
CONSULTATION TIME WILL GIVE SMEs THE OCCASION TO BE MORE FULLY INVOLVED IN
THE PREPARATION OF THE NEW CAPITAL ACCORD BY THE BASEL COMMITTEE AND THE
EC ON BANKING SUPERVISION.
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EU / TRADE
Brussels 24/07/2001: Trade facilitation agreement with Lithuania and
Latvia
The agreements follow similar ones already recently concluded with the
Czech Republic and Hungary (see ESBA WEEKLY - Vol 3 - 13). The agreements
are known as Protocols to the Europe Agreement on Conformity Assessment
(PECA), and allows business to benefit in practice from an extended
internal market before accession to the EU as it removes all technical
barriers to trade where legislation is aligned with the acquis
communautaire of the EU.
The agreement with Lithuania, worth over EUR 600 million, will initially
cover six industrial sectors (machinery, electrical safety,
electromagnetic compatibility, simple pressure vessels, lifts, and
personal protective equipment) and be extended to other industrial sectors
as legislation is aligned. The agreement will enter into force within some
months, after signature and ratification by the EU and the Lithuanian
authorities.
Talks on analogous agreements are in progress with Estonia, Slovakia and
Slovenia, and will soon be opened with other applicant countries. For
candidate countries, PECAs provide a means to develop closer trade
relations with the EU while fully integrating certain sectors with the
Single Market before accession.
ESBA WELCOMES SUCH AGREEMENTS AND WOULD WELCOME QUICK EXTENSION TO OTHER
SECTORS AND CANDIDATE COUNTRIES. ESBA GENERALLY SUPPORTS ALL BILATERIAL
AND MULTILATERAL TRADE FACILITATION AGREEMENTS.
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EU / GOVERNANCE
Brussels 25/07/2001: EC issues White Paper on European Governance
The Paper lays out a set of recommendations on how to enhance democracy in
Europe and increase the legitimacy of the institutions. The White Paper
follows the publication of the interim report on regulatory simplification
(see ESBA WEEKLY - Vol 3 - N 14) and will be followed up by a detailed
action plan at the end of the year.
Main themes of the White Paper:
- Better participation (better informing citizens, develop regional
participation, and involve civil society, develop consultations and
networks);
- Improving the elaboration and implementation of policies (see interim
report on regulatory simplification);
- Contributing to the debate on global governance; and
- Refocusing the role of institutions
The public consultation lasts until 31 March 2001, after which concrete
proposals will be suggested. More info:
http://www.europa.eu.int/comm/governance/white_paper/index_en.htm
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EU / SINGLE MARKET
Brussels 25/07/2001: Fixed internal and cross-border transfer tariffs
The European Commission has issued the regulation (see ESBA WEEKLY - Vol
3 - N 31) making it compulsory for banks to fix similar tariffs for
internal and cross-border transfers after the changeover of the euro. If
adopted, this provision would apply from 1 January 2002 for card payments
and cash dispensers and from 1 January 2003 for bank transfers and
cheques.
More info (copy/paste full link):
http://europa.eu.int/comm/internal_market/en/finances/payment/news/egality
.htm
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The ESBA Weekly is now sent to an increasing amount of persons with a
direct interest in SMEs.
This bulletin is made in co-operation with LOGOS
(http://www.logos-eu.com).
