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July Update: Financial Services

2 July 2018

What's on the agenda this month

by Florian Braeu, EU Policy Analyst

On July 1, 2018, Austria takes over the Presidency of the Council of the European Union for the third time after 1998 and 2006. The two key areas the Council will be working on is the completion of the Banking Union and the developing of a Capital Markets Union.

In an exclusive interview with DeHavilland, Othmar Karas MEP (EPP) also stressed the Austrian wish to further deepen the European Monetary Union. As a result, the European Deposit Insurance Scheme and the Banking Package are key proposals to follow over the next few months. 

To find out more about the Austrian Presidency's priorities for the next six months, download our exclusive briefing.

Meanwhile the Committee on Economic and Monetary Affairs will start July by holding an exchange of views with Jyrki Katainen, Commission Vice-President for Jobs, Growth, Investment and Competitiveness on the proposal to establish the InvestEU Programme for the period 2021–2027. The Programme will aim to generate approximately EUR 650 billion in investments.

Later in the month, ECON will vote on the Pan-European Pension Product Draft Report by Sophia in 't Veld. The PEPP is a voluntary personal pension scheme that will offer consumers a new pan-European option to save for retirement. It could be offered by a broad range of financial companies such as insurance companies, banks, occupational pension funds, certain investment firms and asset managers.

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Florian Braeu, EU Policy Analyst
Florian Braeu
EU Policy Analyst

Florian is an EU Policy Analyst who works with DeHavilland EU's Financial Services clients. A graduate of Ludwig-Maximilians Universität in Munich and the University of St Andrews, he has previously worked in the office of an MEP and at the German Embassy in Beijing.