Central counterparties (CCPs) from the EU are already well regulated and equipped to deal with financial distress, thanks to a raft of measures adopted in the wake of the financial crisis. However, further reforms to ensure a more consistent and robust supervision of CCPs in EU and non-EU countries are now needed to deal with emerging challenges.

Actual Individual Consumption (AIC) is a measure of material welfare of households. Based on first preliminary estimates for 2016, AIC per capita expressed in Purchasing Power Standards (PPS) varied from 53% to 132% of the European Union (EU)average across the Member States.

Full text available on EUROSTAT website

The High Representative  Mogherini met today, at their request, FARC representatives participating in the annual global retreat of the Oslo Forum in Norway. The HRVP reiterated the EU’s firm political and financial commitment and support for the implementation of the Colombian Peace Agreement, which is not only critical to restore peace in Colombia after decades of conflict but is also an example for the entire world showing that reconciliation can be achieved trough dialogue.

With courage, vision and political will, the parties have agreed to fully implement the provision of the agreement and they are expected now to deliver. On their side, the FARC are expected to promptly complete the laying down of arms.

The European Union will bring forward its commitments to contribuite to build trust among the parties and concrete dividends of peace to the Colombian people. HRVP Mogherini confirmed to the FARC representatives that personally and through her Special Envoy for the peace process in Colombia, Mr. Eamon Gilmore, she will keep reaching out to all relevant interlocutors in Colombia and with Colombia’s international partners.

The European Union and Ukraine held their annual Human Rights Dialogue on 13 June 2017 in Kyiv, the third time since the signing of the EU-Ukraine Association Agreement. In the Association Agreement, the European Union and Ukraine express their mutual commitment to common values, in particular full respect for democratic principles, rule of law, good governance, human rights and fundamental freedoms.

The meeting was held in an open and constructive atmosphere, allowing a thorough exchange of views on the current human rights situation in Ukraine and on progress since the last dialogue, held in July 2016.

The EU and Ukraine expressed grave concern over the further deterioration of the human rights situation on the Crimean peninsula, including the situation of Crimean Tatars, following its illegal annexation by the Russian Federation. The EU and Ukraine condemned the human rights violations and abuses in the areas of the Donetsk and Luhansk regions, which are not under the full effective control of the Government of Ukraine. They also called for the immediate release of illegally detained Ukrainian citizens in Russia and the Crimean peninsula.

The EU and Ukraine raised ways to mitigate the humanitarian impact on civilians of the illegal annexation of the Crimean peninsula, and the conflict in the east of Ukraine. They also discussed the ways to protect the human rights of internally displaced persons (IDPs). The work of the Ministry for Temporary Occupied Territories and IDPs and the Action Plan for certain areas of Donetsk and Luhansk, adopted by the Government of Ukraine, were welcomed.

The EU and Ukraine discussed the prevention of ill-treatment and torture and thecontribution that the ongoing reforms in the area of law enforcement continue to have in strengthening human rights in Ukraine. The EU also called for further progress to be made in the investigations into the crimes committed during the EuroMaidan protests, and the violent events in Odesa on 2 May 2014, emphasising the need to address the shortcomings identified by the International Advisory Panel of the Council of Europe and to bring to justice those responsible.

The EU highlighted the importance of harmonising electoral legislation and the appointment of members of the Central Election Commission whose mandate has expired.

Both sides highlighted the importance of free and independent media and discussed ways to advance the safety of journalists and media outlets, including the steps taken to address publication of journalists’ private data on Ukrainian websites. The decision to block a number of Russia-based online services was also addressed.

Also on the agenda of the Dialogue was non-discrimination policy, including the rights of LGBTI persons and those belonging to ethnic, linguistic, religious and national minorities, and the rights of the child. Gender equality and women’s rights, especially domestic violence, were raised and the EU encouraged Ukraine to ratify the Istanbul Convention.

The EU and Ukraine cooperate well in international fora in the field of human rights. The European Union recalled that Ukraine has committed to the ratification of the Rome Statute of the International Criminal Court.

The EU delegation was led by Mr Dirk Schuebel, Head of Division for bilateral relations with the Eastern Partnership countries in the European External Action Service. The Ukrainian delegation was led by Mr Sergui Petukhov, Deputy Minister of Justice of Ukraine. In line with usual practice, the EU held consultations with representatives of Ukrainian civil society and international organisations prior to the dialogue. In March 2017, human rights organisations from Ukraine and the EU held a civil society seminar on human rights. The recommendations of that seminar were also discussed in the dialogue.

The dialogue was planned to coincide with the Justice, Freedom and Security subcommittee to be held on 14 June.

The next Human Rights Dialogue meeting between Ukraine and the EU is scheduled to take place in the summer of 2018.

Good afternoon everyone,

We had a productive College today. You already had a press conference on the migration package, so I will focus on the remaining issues.

Let me start on a positive note. Vice-President Ansip informed the College that the end date for roaming charges is in two days. As of 15 June, Europeans, when travelling abroad, will be able to consume mobile voice, SMS and data services for the same price as at home. This is good news ahead of the vacation season. We are convinced that this will also benefit, for example, current and future ERASMUS students and mobile workers.

Commissioner Moscovici and I myself informed the College on the state of play in the Greek programme. Our message was clear – Greece is delivering on its part of the deal. Remaining Prior Actions were voted.

Our teams are now carefully assessing the adopted legislation and will report to the Eurogroup on Thursday. However, I can tell already now that they seem to be in line with what has been agreed. The second review is within reach, provided that all parties take their responsibilities.

We need an agreement now. And we need a disbursement now for the economic recovery in Greece to remain on track.  

Successful conclusion of the 2nd review would be a critical step for Greece on its way to sustainable growth and jobs creation and eventually to return to markets.

Moreover, growth in Greece has been and will be further supported by exceptional levels of technical and financial help. Since our Plan for Growth and Jobs for Greece launched nearly 2 years ago, Greece has received almost EUR 11 billion from a large pool of EU funds. And Greece is among the top performers in terms of the use of EU funds.

President Juncker and our Chief negotiator Michel Barnier updated the College today on the preparations for the upcoming Brexit negotiations.

Two position papers, on citizens’ rights and the financial settlement, were sent yesterday to the UK and the papers were also made public.

Let me reiterate our message that we stand ready to negotiate with the UK and that we hope that negotiations can start very soon.

Finally, the College also adopted targeted reforms to make the supervision of Central Counterparties, or CCPs, more robust both in the EU and abroad.

We need to make sure that we are one step ahead of current developments. Since the financial crisis, we adjusted our legislative framework, and more and more derivatives transactions are being cleared by a limited number of CCPs. Some of these are systemically important for the EU financial system. We also need to prepare for the departure of the EU’s largest financial centre from the single market. That means taking action to preserve financial stability and provide certainty to businesses.  

That’s why today we are introducing a more pan-European approach to the supervision of CCPs. We also want to ensure closer cooperation between supervisory authorities and central banks responsible for EU currencies.

We are empowering the European Securities and Markets Authority – or ESMA – with the task of ensuring a more coherent and consistent supervision of CCPs both in the EU and outside – so called third countries.

On third country operators, for non-systemically important CCPs, not much will change: they will continue to operate under the equivalence system.

For systemically important CCPs outside the EU, they will be subject to dual supervision, meaning both by their home authorities and by ESMA. This is in line with the approach taken by others, such as the United States.

In some specific circumstances, and as a last resort, authorities may require individual CCPs to be established within the EU. This would be only when a CCP is of substantial systemic importance and enhanced supervision by ESMA is not sufficient to safeguard financial stability. In such instances, the decision can be taken by the Commission, at the request of ESMA and in agreement with the relevant central bank – this would be the European Central Bank for the Eurozone.

This proposal will have costs and benefits, and we have assessed them thoroughly in our impact assessment. We have calibrated our proposal to minimise the impact for businesses.

The benefit is that we will maintain financial stability in the face of major challenges. This is in the interest of our citizens and the economy as a whole.

Thank you very much.