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Briefing – European Defence Fund: Multiannual financial framework 2021-2027 – 02-07-2021

In June 2018, the European Commission presented a legislative proposal on a European Defence Fund, including a budget allocation of €11.5 billion in constant 2018 prices for the 2021-2027 period. The proposal aimed to streamline and simplify the set-up in place at the time by integrating the Preparatory Action on Defence Research (research window) and the European Defence Industrial Development Programme (as one part of the capability window) into a single Fund. The main aims of the Fund would be to foster the competitiveness and innovativeness of European defence and to contribute to the EU’s strategic autonomy. In this regard, the Fund would inter alia support collaborative industrial projects; co finance the costs of prototype development; encourage the participation of small and medium-sized enterprises; and promote projects in the framework of permanent structured cooperation. Synergies were expected with other EU initiatives in the field of cybersecurity, maritime transport, border management, Horizon Europe, the space programme and the European Peace Facility. In April 2019, after several trilogue meetings, Parliament and Council reached a partial agreement on the Fund, covering the content, but not, among other things, budgetary issues. Parliament adopted its position at first reading in April 2019. A provisional political agreement on the outstanding issues was reached in December 2020. The Council adopted its first-reading position in March 2021 and the Parliament adopted the text at second reading on 29 April. The final act was published in the Official Journal on 12 May.

Source : © European Union, 2021 – EP

Highlights – Financial services cooperation with the Biden Administration: hearing – Committee on Economic and Monetary Affairs

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ECON – Financial services cooperation with the Biden Administration: hearing – 13.07.21 – NEW
The Committee on Economic and Monetary Affairs will hold a public hearing with experts in order to acquire insight on recent developments in the US in the field of banking and financial services, on 13 July. The hearing will also touch upon the prospects for future cooperation in this field, including in the context of international institutions and fora.

Source : © European Union, 2021 – EP

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