July 2018 – Euro area international trade in goods surplus €17.6 bn – €0.1 bn surplus for EU28

The first estimate for euro area (EA19) exports of goods to the rest of the world in July 2018 was €194.6 billion, an increase of 9.4% compared with July 2017 (€177.8 bn). Imports from the rest of the world stood at €177.1 bn, a rise of 13.4% compared with July 2017 (€156.2 bn). As a result, the euro area recorded a €17.6 bn surplus in trade in goods with the rest of the world in July 2018, compared with +€21.6 bn in July 2017. Intra-euro area trade rose to €162.3 bn in July 2018, up by 9.3% compared with July 2017.

Full text available on EUROSTAT website




Europe continues to phase out substances harmful to the ozone layer under the Montreal Protocol

Ozone-depleting substances (ODS) are widely used in refrigerants, polymers, pharmaceuticals and agricultural chemicals. Updated aggregated data reported by companies across the 28 EU Member States showed that in 2017, more ODS controlled under the Montreal Protocol were destroyed or exported than produced or imported, a situation similar to that of 2016, according to the EEA report ‘Ozone-depleting substances 2018’.

The import and production of these ‘controlled’ (i.e. covered by the Montreal Protocol) chemicals for feedstock use in the EU rose from 2016, although the emissions resulting from such use decreased. This decrease in emissions suggests that improvements have been made in the control of emissions in industry. The production of new substances, not controlled by the Montreal Protocol, remained significantly higher than the production of controlled substances. However, these new substances are comparatively far less harmful to the ozone layer than the controlled ones.

Under EU rules, companies that produce these substances in the EU, import and export them into and out of the EU, as well as users of such stock, process agent users and destruction facilities, must report their activities concerning controlled substances annually.

In addition to already achieving its goals on the phase-out of ozone-depleting substances under the Montreal Protocol, the EU is also reporting exempted, essential and critical uses of ODS.

The EEA report is published ahead of the International Day for the Preservation of the Ozone Layer, which is marked every year on 16 September.

Background

In 1989, the Montreal Protocol on Substances that Deplete the Ozone Layer entered into force. Its objective is to protect the stratospheric ozone layer by phasing out the production of ozone-depleting substances. The protocol covers over 200 individual substances with a high ozone-depleting potential, including chlorofluorocarbons (CFCs), halons, carbon tetrachloride (CTC), 1,1,1-Trichloroethane (TCA), hydrochlorofluorocarbons (HCFCs), hydrobromofluorocarbons (HBFCs), bromochloromethane (BCM) and methyl bromide (MB), all of which are referred to as ‘controlled substances’.

The Montreal Protocol was amended to regulate hydrofluorocarbons (HFCs) in October 2016, in Kigali, Rwanda. Both developed and developing countries have taken on mandatory commitments to reduce production and consumption of HFCs in the next three decades.

Within the EU, ozone-depleting substances are covered by Regulation (EC) No 1005/2009 (known as the ODS Regulation). The EU ODS Regulation is more stringent than the rules of the Montreal Protocol and also encompasses additional substances.

Stopping the use of ozone-depleting substances is crucial to protecting the ozone layer in the Earth’s atmosphere. The ozone layer serves an important function in protecting life on Earth as it absorbs the sun’s ultraviolet rays, which can pose a danger to the environment and human health.




First Liaison Prosecutor for Ukraine appointed at Eurojust

The Hague, 13 September 2018

On 18 August 2018, Ms Myroslava Krasnoborova took up her duties as Liaison Prosecutor for Ukraine at Eurojust.

Before joining Eurojust, Ms Krasnoborova occupied the positions of Deputy Head of Department for International Legal Cooperation and Head of Division for International Cooperation of the Prosecutor General’s Office (PGO) of Ukraine.

In 2008, she joined the PGO as a prosecutor dealing with mutual legal assistance (MLA) cases. In her role as head of the relevant PGO divisions, she specialised in the transfer of criminal proceedings, asset recovery, international cooperation and the negotiation of international treaties, in addition to MLA.

As Eurojust contact point for Ukraine for several years, Ms Krasnoborova was directly involved in some of the most complex and high-profile cross-border cases related to Ukraine, including cybercrime, economic crime, terrorism, as well as the recovery of stolen art.

After her appointment to Eurojust, Ms Krasnoborova said: I am delighted and honoured to be the first Liaison Prosecutor for Ukraine at Eurojust. We wish to continue the success of combating transnational criminality with the support of Eurojust and EU Member States’ judicial authorities, and I am looking forward to enhancing this effective cooperation in the future in the framework of Eurojust’s activities.




First Liaison Prosecutor for Ukraine appointed at Eurojust

The Hague, 13 September 2018

On 18 August 2018, Ms Myroslava Krasnoborova took up her duties as Liaison Prosecutor for Ukraine at Eurojust.

Before joining Eurojust, Ms Krasnoborova occupied the positions of Deputy Head of Department for International Legal Cooperation and Head of Division for International Cooperation of the Prosecutor General’s Office (PGO) of Ukraine.

In 2008, she joined the PGO as a prosecutor dealing with mutual legal assistance (MLA) cases. In her role as head of the relevant PGO divisions, she specialised in the transfer of criminal proceedings, asset recovery, international cooperation and the negotiation of international treaties, in addition to MLA.

As Eurojust contact point for Ukraine for several years, Ms Krasnoborova was directly involved in some of the most complex and high-profile cross-border cases related to Ukraine, including cybercrime, economic crime, terrorism, as well as the recovery of stolen art.

After her appointment to Eurojust, Ms Krasnoborova said: I am delighted and honoured to be the first Liaison Prosecutor for Ukraine at Eurojust. We wish to continue the success of combating transnational criminality with the support of Eurojust and EU Member States’ judicial authorities, and I am looking forward to enhancing this effective cooperation in the future in the framework of Eurojust’s activities.




ESMA finds high level of diversity in national markets for structured retail products

The research breaks down the EU market geographically into national retail markets and found a high degree of heterogeneity in the types of product sold. 

The report identified that although a wide array of different structured products are available to retail investors across the EU, each national market is concentrated around a small number of common types, namely capital protection products, yield enhancement products and participation products.

The analysis was carried out both at an EU-wide level and also specifically in the French, German and Italian retail markets, and suggests that the search for yield has been a common driver of several changes in the distribution of product types.

These products are a significant vehicle for household savings, however they remain complex and the net performance warrants a closer examination.