Daily News 26 / 10 / 2017

Europe de l’espace: le président Juncker visite le Centre Spatial Guyanais

Demain, le président Juncker et le président de la République française Emmanuel Macron visiteront le Centre Spatial Guyanais à Kourou. Cette visite du “port spatial” de l’Europe, une infrastructure unique pour l’Europe qui assure un accès autonome à l’espace, intervient un an après la présentation de la Stratégie Spatiale pour l’Europe et s’inscrit dans la promotion d’une ambitieuse politique industrielle au service des intérêts stratégiques de l’Union européenne. L’engagement de la Commission se caractérise par le développement de projets spatiaux de grande envergure tels que les programmes d’observation de la Terre Copernicus et de navigation par satellite Galileo et EGNOS pour un investissement de plus de 12 milliards d’euros sur la période 2014-2020. Ces programmes spatiaux européens fournissent d’ors et déjà des services dont bénéficient des millions de personnes: grâce à l’utilisation des données spatiales, les services d’urgence et de secours, les réponses face aux catastrophes naturelles, l’aviation ou encore l’agriculture voient leur efficacité améliorée. De nombreuses entreprises utilisent également ces données pour des applications toujours plus innovantes. Une vidéo et une fiche FR et EN détaillent les produits et services fournis par les programmes spatiaux de l’UE. Vous pouvez suivre la visite du Président Juncker en Guyane sur le portail audiovisuel de la Commission européenne. (Pour plus d’informations: Lucía Caudet – Tel.: +32 229 56182; Maud Noyon – Tel. +32 229-80379; Victoria von Hammerstein – Tel.: +32 229 55040)

Banking Reform: EU reaches agreement on first key measures

On Wednesday, the European Parliament, the Council and the Commission agreed on elements of the review of the Bank Recovery and Resolution Directive (BRRD) and of the Capital Requirements Regulation (CRR) and Directive (CRD) proposed in November 2016, an important piece of the Commission’s ongoing work to reduce risk in the banking sector and in line with the efforts to complete the Banking Union, as set out in the Commission’s Communication of 11 October 2017. The agreement on the BRRD creates a new category of unsecured debt in bank creditors’ insolvency ranking. It establishes an EU harmonised approach on the priority ranking of bank bond holders in insolvency and in resolution. The agreement on the CRR/CRD implements the new International Financial Reporting Standard (IFRS 9). This will help mitigate the impact of IFRS 9 standards on EU banks’ capital and ability to lend. It will also avoid potential disruptions in government bond markets that would result from rules limiting large exposures to a single counterparty. Valdis Dombrovskis, Vice-President responsible for Financial Stability, Financial Services and Capital Markets Union said: “Today’s agreements are the first deliverables of our banking risk reduction package. First, harmonised rules for bank bond holders in a situation of insolvency gives banks clarity for building up buffers to absorb losses and protect taxpayers. It is a key step towards complying with the global standard on Total Loss-Absorbing Capacity (TLAC). This measure will also enhance the effectiveness of bank resolution processes. The second agreement gives banks more time to adjust to the introduction of the new accounting standard IFRS 9 and to the expiry of certain exemptions from the large exposure limits, thereby avoiding disruption in lending and in government bond markets.” Wednesday’s political agreements will be followed by further technical talks to finalise the text. A full press release is available online. (For more information: Annika Breidthardt – Tel.: +32 229 56153; Letizia Lupini – Tel.: +32 229 51958)

MiFID II: EU issues guidance on obtaining brokerage and research services from non-EU brokers

Today, the European Commission has issued guidance in the form of Frequently Asked Questions to clarify how EU investment firms should interact when they seek out brokerage and research services from broker-dealers in non-EU countries. Valdis Dombrovskis, Vice-President in charge of Financial Stability, Financial Services and Capital Markets Union, said “With the issued guidance EU firms will have greater clarity on how to deal with non-EU brokers that provide research. In this context, we welcome the decision of the staff of the U.S. Securities and Exchange Commission to simultaneously agree to relief for US brokers supplying research to EU firms. Our coordinated action again shows the excellent EU-US cooperation in international financial regulatory matters.” The Commission recognised the need to clarify how firms subject to the Markets in Financial Instruments Directive (MiFID II) can obtain such services from other jurisdictions. The Commission FAQ notes the relevant provisions and explains how EU firms can procure international research and brokerage services in full compliance with their obligations. MiFID II is a cornerstone of the reforms we put in place following the financial crisis to improve investor protection and the transparency and oversight of financial markets. Today’s initiative will contribute to ensure that research budgets are decoupled from brokerage, in compliance with the requirements laid out in MiFID II. (For more information Annika Breidthardt – Tel.: +32 229 56153; Letizia Lupini – Tel.: +32 229 51958)

 

State of children’s medicines in the EU

Today the Commission presents a report to the European Parliament and the Council, on progress made in children’s medicines since the Paediatric Regulation came into force 10 years ago. It concludes that positive advances in the development of medicines for children could not have been achieved without specific EU legislation – e.g. the authorisation of 260 new medicines. The Paediatric Regulation also gives a good return on investment. However, the report acknowledges that more effort is needed to combine the effects of the Paediatric with those of the Orphan medicines Regulation to address shortcomings in treating rare diseases in children. “When we consider the advances in adult oncology, it upsets me deeply that we have not made the same progress in treating the cancers that affect children. In the next 10 years we must focus on making similar breakthroughs for children, by combining the incentives under the Orphan and Paediatric Regulations, and by ensuring that the European Reference Networks – in particular on paediatric cancer, reach their full capacity”, said Vytenis Andriukaitis, European Commissioner for Health and Food Safety. Full press release in EN, FR and DE is available here. A Q&A doc is also available here. (For more information: Anca Paduraru – Tel.: +32 229 91269; Aikaterini Apostola – Tel.: +32 229 87624)

State aid: Commission opens in-depth investigation into UK tax scheme for multinationals

The European Commission has opened an in-depth investigation into a UK scheme that exempts certain transactions by multinational groups from the application of UK rules targeting tax avoidance (the UK CFC rules). It will investigate if the scheme allows these multinationals to pay less UK tax, in breach of EU State aid rules. Commissioner Margrethe Vestager in charge of competition policy said: “All companies must pay their fair share of tax. Anti-tax avoidance rules play an important role to achieve this goal. But rules targeting tax avoidance cannot go against their purpose and treat some companies better than others. This is why we will carefully look at an exemption to the UK’s anti–tax avoidance rules for certain transactions by multinationals, to make sure it does not breach EU State aid rules.” The general purpose of the UK CFC rules is to prevent UK companies from using a subsidiary, based in a low or no tax jurisdiction, to avoid taxation in the UK. They reallocate income artificially shifted to offshore subsidiaries of UK parent companies to the UK for taxation. CFC rules in general are an effective and important feature of many tax systems to address tax avoidance. However, since 2013, the UK CFC rules include an exception for certain financing income (i.e. interest payments received from loans) of multinational groups active in the UK – the Group Financing Exemption. At this stage, the Commission has doubts whether this exemption complies with EU State aid rules. In particular, the Commission has doubts whether this exemption is consistent with the overall objective of the UK CFC rules. The Commission’s State aid investigation does not call into question the UK’s right to introduce CFC rules or to determine the appropriate level of taxation. The role of EU State aid control is to ensure Member States do not give some companies a better tax treatment than others. The opening of an in-depth investigation gives the UK and interested third parties an opportunity to submit comments. It does not prejudge the outcome of the investigation. The full press release is available online in EN, FR, DE. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Yizhou Ren – Tel.: +32 229 94889)

Mergers: Commission clears the creation of a joint venture by GETEC and Briva

The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture between GETEC Wärme und Effizienz AG (‘GETEC’) of Germany and Briva Group B.V of the Netherlands. The joint venture will be active in the conception, development, operation and maintenance of energy generation and distribution systems, the provision of energy contracting services for buildings, as well as in measures to increase energy efficiency and development of new business models. GETEC is active in energy contracting in Germany. It is a subsidiary of EQT Fund Management S.à.r.l of Luxembourg and GETEC Energy Holding GmbH of Germany. Briva, ultimately controlled by the Ten Brinke Group B.V. of the Netherlands, is active in project development, construction, sale or lease of residential, commercial and industrial real estate, mainly to strategic investors in Germany and the Netherlands. The Commission concluded that the proposed acquisition would raise no competition concerns given the joint venture’s limited activities in the EEA. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.8627. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

 

Mergers: Commission clears acquisition of US engineering company CH2M by Jacobs Engineering Group

The European Commission has approved, under the EU Merger Regulation, the acquisition of CH2M HILL Companies, Ltd. by Jacobs Engineering Group Inc., both of the US. CH2M is a professional consulting services provider across a full spectrum of technical topics such as engineering, construction management and operations as well as maintenance projects. Jacobs Engineering Group is a technical professional services firm providing a range of technical, professional, and construction services to a large number of industrial, commercial and governmental clients. The Commission concluded that the proposed acquisition would raise no competition concerns given the transaction’s limited impact on the market structure within the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.8641. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

 

Mergers: Commission clears acquisition of Irish wind farms by Fixarra, Luricawne, Sojitz and Kansai Electric Power

The European Commission has approved under the EU Merger Regulation the acquisition of joint control over Evalair Limited and Plum Wind Farm Holdings Limited (“Plum”) , both of Ireland, by Fixarra Limited, also of Ireland, as well as Luricawne Wind S.a.r.l. of Luxembourg, Sojitz Corporation and Kansai Electric Power Co. Inc. (“KEPCO”) both of Japan. Evalair owns and operates four wind farms in Ireland. Plum owns a wind farm in Ireland that is currently in development. Fixarra is owned by the Craydel Group of Ireland, an engineering provider. Luricawne is owned by HgCapital of the UK, which is a private equity firm. Sojitz is a conglomerate primarily active in the area of trading goods and services, including in the energy sector. KEPCO is active in several businesses including electrical power and gas supply. The Commission concluded that the proposed acquisition would raise no competition concerns because the acquisition does not give rise to an overlap between the companies’ activities. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M. 8635. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

 

ANNOUNCEMENTS

 

Vice-President Dombrovskis in Bucharest, Romania

Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union, is in Bucharest for a European Semester visit from 26 to 27 October. Vice-President Dombrovskis’ visit also includes several bilateral meetings, including with Klaus Iohannis, President of Romania, Ionuţ Misa, Minister of Public Finance of Romania, Mugur Isărescu, Governor of the National Bank of Romania, as well as meetings with social partners. On Thursday, the Vice-President will deliver a closing speech at a conference entitled “10 years of EU membership: from cohesion to convergence”, organised by the National Bank of Romania. On Friday, Vice-President Dombrovskis will deliver an opening speech at a Commission event entitled “Inclusive growth in Romania – Challenges and opportunities”, organised within the framework of the European Semester. (For more information: Annika Breidthardt – Tel.: +32 229 56153; Juliana Dahl – Tel.: +32 229 64976)

Commissioner Arias Cañete opens European Electric Vehicle Congress in Madrid

On Friday 27 October, Commissioner for Energy and Climate Action Miguel Arias Cañete will open today the IV European Electric Vehicle Congress in Madrid. In his speech he will underline the crucial importance of zero- and low- emission mobility for the future of the European transport sector. Ahead of the conference, the Commissioner said: “Europe has fallen behind in the clean vehicle race. We could lose technological leadership in clean vehicles if others keep accelerating away from us. Our upcoming standards for cars and vans will be a fundamental tool to push for innovation and investments in clean vehicles in Europe. We want all European manufacturers to invest and innovate, to succeed in this key new market.”The second delivery of the mobility package scheduled for adoption in the coming weeks will comprise legislative proposals and initiatives to deliver on the European Strategy for low-emission mobility from June 2016. It will include proposals to decarbonise the transport sectors, the revision of the clean vehicles directive and CO2 standards for new cars and vans for the period after 2020, an Action Plan for alternative fuel infrastructures with dedicated measures including new funding opportunities as well as a flagship initiative on batteries. The upcoming package will be part of the wider political context to make European industry stronger and more competitive as outlined by Commission President Jean-Claude Juncker in his State of the European Union speech in September this year. Following up on this, the Renewed EU Industrial Policy Strategy will help the EU industries to stay or become the world leader in innovation, digitisation and decarbonisation. Building on Europe’s leadership in a low-carbon and circular economy, this helps the EU to implement its Paris Agreement commitments. More information about the conference here. (For more information: Anna-Kaisa Itkonen – Tel.: +32 229 56186; Nicole Bockstaller – Tel.: +32 229 52589)

 

Commissioner Vella on official visit to Sweden to discuss circular economy and UN development goals

On 26 – 27 October, Commissioner for Environment, Maritime affairs and Fisheries, Karmenu Vella, will be in Sweden for an official visit. The Commissioner will speak before the Swedish Parliament at the Committee on Environment and Agriculture and the Committee on EU Affairs. He will also meet with Minister of the Environment, Karolina Skog and Minister for Rural Affairs, Karl-Erik Bucht. A roundtable discussion is planned with participants from the business, public and non-governmental sectors on the Commission’s Circular Economy package and the upcoming EU Plastics Strategy. The Commissioner is also invited to speak at a public seminar on the UN Sustainable Development Goals, together with Professor Johan Rockström of the Stockholm Resilience Centre and founder of the Planetary Boundaries concept. Finally, a visit is planned to the world’s first Marine Stewardship Council certified fisheries in Lake Mälaren, a project supported by the European Maritime and Fisheries Fund. (For more information: Enrico Brivio – Tel.: +32 229 56172; Iris Petsa – Tel.: +32 229 93321)

Upcoming events of the European Commission (ex-Top News)




113/2017 : 26 October 2017 – Judgment of the Court of Justice in Case C-90/16

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Banking Reform: EU reaches agreement on first key measures

On Wednesday, the European Parliament, the Council and the Commission agreed on elements of the review of the Bank Recovery and Resolution Directive (BRRD) and of the Capital Requirements Regulation (CRR) and Directive (CRD) proposed in November 2016, an important piece of the Commission’s ongoing work to reduce risk in the banking sector and in line with the efforts to complete the Banking Union, as set out in the Commission’s Communication of 11 October 2017.

The agreement on the BRRD creates a new category of unsecured debt in bank creditors’ insolvency ranking. It establishes an EU harmonised approach on the priority ranking of bank bond holders in insolvency and in resolution. The agreement on the CRR/CRD implements the new International Financial Reporting Standard (IFRS 9). This will help mitigate the impact of IFRS 9 standards on EU banks’ capital and ability to lend. It will also avoid potential disruptions in government bond markets that would result from rules limiting large exposures to a single counterparty.

Valdis Dombrovskis, Vice-President responsible for Financial Stability, Financial Services and Capital Markets Union said: “Today’s agreements are the first deliverables of our banking risk reduction package. First, harmonised rules for bank bond holders in a situation of insolvency gives banks clarity for building up buffers to absorb losses and protect taxpayers. It is a key step towards complying with the global standard on Total Loss-Absorbing Capacity (TLAC). This measure will also enhance the effectiveness of bank resolution processes. The second agreement gives banks more time to adjust to the introduction of the new accounting standard IFRS 9 and to the expiry of certain exemptions from the large exposure limits, thereby avoiding disruption in lending and in government bond markets.”

The agreement on the harmonised rules on the priority ranking of bank bond holders in insolvency and in resolution facilitates a more efficient path towards banks’ compliance with the TLAC standard that should apply from 2019 onwards, as agreed in the Financial Stability Forum. In addition, by providing greater legal certainty for both issuers and investors and reducing the risk of legal challenges, these harmonised rules will facilitate the application of the bail-in tool in resolution.

The new IFRS 9 accounting standards aims to address concerns that arose during the financial crisis by improving the loss provisioning of financial instruments. Such standards may lead to a significant increase in the provisions that banks have to make for loan losses. Today’s agreement on a five-year phase-in period will allow banks to add back to their capital part of the increase in loan loss provisions. This will limit the potential negative impact on bank lending. Today’s agreement also introduces a new transitional arrangement for large exposure limits in prudential rules. Banks with large holdings of government bonds not denominated in a domestic currency will have more time to adjust to the rules.

Next Steps

Today’s political agreements will be followed by further technical talks to finalise the text. The Permanent Representatives Committee (COREPER) of the Council of Ministers is expected to endorse the agreement ahead of the European Parliament’s plenary vote. The text needs to be in place by the beginning of 2018.

Background

In November 2016 the European Commission adopted a comprehensive package of reforms (‘EU banking reform package’) to further strengthen the resilience of EU banks reforms (IP/16/3731 and MEMO/16/3840). This contained, among others, proposals to harmonise the position of bank bond holders in the creditors’ hierarchy in insolvency and in resolution. The Commission proposed to create a new statutory category of unsecured debt available in all EU Member States which ranks just below the most senior debt and other senior liabilities, while still being part of the senior unsecured debt category (only as an un-preferred tier senior debt). The solution agreed by the European Parliament and the Council retains the key elements of the Commission’s proposal.

The banking reform package also included proposals to introduce transitional arrangements to help mitigate the impact of the introduction of IFRS 9 on banks’ capital and to avoid potential disruptions in government bond markets due to the expiry of the transitional period for sovereign exposures.

Given the need for the new transitional arrangements enter into force at the beginning of 2018, the European Parliament and the Council agreed to spinoff those provisions from the rest of the package and adopt them through a faster procedure.

The solution agreed by European Parliament and the Council on IFRS 9 builds on the Commission’s proposal. The phasing-in period will provide an opportunity to observe possible pro-cyclicality effects of the revised credit loss approach. At the international level it will also allow more time to agree on a fully-harmonised prudential treatment of the expected credit losses under IFRS 9 and the revised US Generally Accepted Accounting Principles (GAAP) standard on financial instruments which will enter into force in 2020.

For large exposures, the solution agreed by co-legislators provides for a grandfathering clause (i.e.: all exposures incurred before a pre-determined cut-off date will be exempted from the large exposures limits); and a phase-out period (all exposures after the pre-determined cut-off date will be progressively subject to the full large exposure limits).

More information:

For more information: Please refer to full MEMO/16/3840




Security Union: Commission welcomes adoption of Entry/Exit System for stronger and smarter EU borders

Following today’s adoption by the European Parliament of the Commission’s proposal to establish an Entry/Exit System to register entry and exit data of non-EU nationals crossing the external borders of EU Member States, the European Commission issued the following statement:

“Over the past years we have been working to strengthen and protect our external borders to safeguard and increase the security of the Schengen area. Today’s vote reflects the political commitment of the European Parliament to swiftly deliver on this priority file. It is an important step towards achieving more effective border management and better oversight of who is crossing the EU’s external borders – and the Commission warmly welcomes this decision.

As President Juncker recalled in his Letter of Intent accompanying his State of the Union Address of 13 September, the Entry/Exit System is a priority initiative which will modernise the management of the EU external border and contribute to the fight against terrorism and serious crime. It will replace the stamping of passports and will allow for an increased automation of border controls, improved detection of document and identity fraud as well as better monitoring of unauthorised short stays of non-EU nationals.

The Entry/Exit System will also close an important information gap and will contribute to achieving full interoperability of EU information systems by 2020, in full respect of fundamental rights and data protection rules. 

Following the introduction of systematic checks on all travellers crossing the external border and with the new European Border and Coast Guard Agency being fully operational, the Entry/Exit System represents further concrete action towards making our borders even stronger, smarter and more secure. The Commission is now looking forward to the Council continuing to deliver on this political priority, so that the system can be up and running by 2020 at the latest.”

Background

The proposal on the Entry/Exit System (EES) was announced both in the European Agenda on Migration and the European Agenda on Security. On 6 April 2016, the Commission adopted a legislative package which included a Regulation for the establishment of an Entry/Exit System and an essentially consequential amendment to the Schengen Borders Code to integrate the technical changes needed.

The Entry/Exit System is one of the priority files identified in the Joint Declaration on legislative priorities for 2017 and is closely linked with the European Travel Information Authorisation System (ETIAS). In his 13 September 2017 Letter of Intent, President Juncker called for a swift adoption by the co-legislators of the EU Entry/Exit System, alongside other important security files, including the Schengen Information System (SIS II), Criminal Records Information System (ECRIS) and ETIAS.

The Entry/Exit System will modernise external border management by improving the quality and efficiency of controls as well as the detection of document and identity fraud. The system will apply to all non-EU nationals who are admitted for a short stay into the Schengen area (maximum 90 days in any 180-day period). The system will register the name, type of travel document and biometrics and the date and place of entry and exit. This will facilitate the border crossing of good faith travellers, detect overstayers (individuals remaining in the Schengen area after the end of their authorised stay) and support the identification of undocumented persons in the Schengen area. The Entry/Exit System will also record refusals of entry.

Next Steps

The final text will now have to be adopted by the Council. The Agency for the operational management of large-scale information systems in the area of freedom, security and justice, eu-LISA, is expected to start the development of the system this year with a view to having it operational by 2020.

For More Information

Press Release: Stronger and Smarter Borders in the EU: Commission proposes to establish an Entry-Exit System

Factsheet: EU Information Systems

Factsheet: Interoperability

Factsheet: A Europe that Protects




€2.7 billion expected for Erasmus+ in 2018

The European Commission today published its 2018 Call for Proposals for Erasmus+, the European Union’s programme for mobility and cooperation in education, training, youth and sport. With its annual budget expected to increase by €200 million, Erasmus+ will provide an unprecedented number of opportunities for individuals and organisations in Europe and beyond.

Tibor Navracsics, European Commissioner for Education, Culture, Youth and Sport, said: “I am pleased that in 2018 the European Union is set to invest €2.7 billion in Erasmus+ to support extremely valuable educational projects and provide hundreds of thousands of opportunities for young Europeans to study or train abroad. The celebrations marking the 30th anniversary of Erasmus throughout 2017 have highlighted the positive impact that this EU success story has on the lives of people all over Europe.As President Juncker underlined in June, every euro invested in Erasmus+ is an investment in the future of a young person and of the European idea. I also welcome the support of several Heads of State for the idea that Erasmus+ should be far more ambitious in the future.”

In 2018, Erasmus+ will continue to help implement the Commission’s policy priorities, notably the goals set out in the recent initiatives “A renewed agenda for Higher Education” and “School development and excellent teaching for a great start in life“. The overall aim of these initiatives is to help Member States provide high quality, inclusive and future-oriented education for all young people. In line with the New Skills Agenda for Europe, Erasmus+ will also remain a strong pillar in promoting the full range of knowledge, skills and competences that help people succeed in our fast-changing societies, including transversal skills such as creativity, problem-solving and an entrepreneurial mind-set.

In total, €2.7 billion in funding are expected to be available from Erasmus+ in 2018 to:

  • promote mobility opportunities for young people, students, trainees, apprentices and international volunteers, as well as for teachers, trainers and youth workers;
  • create or improve partnerships between education, training and youth organisations and with the world of work;
  • support dialogue and evidence-building needed to deliver reform in education, training and youth systems;
  • promote excellence in teaching and research in the field of European studies through the Jean Monnet activities; and
  • support transnational projects in the field of sport, with a focus on grassroots sport.

Similar to previous years, Erasmus+ projects supporting social inclusion through education, youth and sport activities will be given priority in 2018.

In 2018, for learners in the field of vocational education and training, increased focus will be placed on long-duration mobility (ErasmusPro), in line with the Commission’s Communication on “Investing in Europe’s Youth” of 7 December 2016.

In order to further broaden the accessibility of the Erasmus+ programme in 2018, the Commission will introduce throughout Europe a simplified procedure for the submission of grant proposals through online web-forms and will also simplify grant opportunities for schools to take part in projects focusing on exchanges and mobility of pupils and staff.

In parallel, the Commission published today the Erasmus+ Programme Guide in all official EU languages. The Programme Guide is the key document that provides applicants with full details of all opportunities available in the 2018 Call for proposals for Erasmus+.

Background

Erasmus+ is the EU’s programme for mobility and transnational cooperation in the areas of education, training, youth and sport for the period 2014-2020, areas that are very important in building the future of young people and of Europe.

Education and youth work contribute to tackling the socio-economic challenges that Europe is currently facing, as well as to supporting the implementation of the European policy agenda for growth and jobs. They also have an important role in promoting social inclusion and common European values, by fostering social integration, enhancing intercultural understanding and a sense of European identity.

In this context, Erasmus+ aims, as one of its general principles, to facilitate access to the programme for participants from all backgrounds, with a particular focus on individuals with social, economic, physical or geographic disadvantages.

For More Information

Erasmus+ Call for proposals and programme guide

Erasmus+