Finance Package, Biocides, Gas Security, Online Piracy Discussed
Strasbourg - 20-23 September 2010
EU Financial supervision package keeps national supervisors in the front line
Conservatives approved new rules which create three new European Supervisory Authorities (ESAs) and a European Systemic Risk Board (ESRB). They keep national regulators at the fore whilst ensuring a common rule book to prevent future economic crises. The adoption of the new rules took place in Strasbourg this month, following 18 months of negotiations that stemmed from the De Larosiere report prepared for the commission in 2009.
The ESAs, which will be up and running by January 2011, have the ability to mediate disputes between national supervisors, to guide national regulators, and to monitor how national authorities implement EU legislation. The ESRB will put in place a common set of indicators to permit fair and open comparisons between cross-border financial institutions and send out appropriate warnings.
Timothy welcomed the measures and said that it was good news for businesses and consumers:
"With this new certainty the financial markets can begin to look to the future."
Health disaster averted in biocides vote
MEPs averted a looming disaster to public health on the first reading of the Biocides Regulations in the European Parliament today. An amendment being promoted by the Socialist Group - including British Labour MEPs - to further restrict the use of Difenacoum was thrown out with the help of Conservative MEPs. In June a vote in the Environment and Public Health Committee foiled attempts to ban the rodenticide.
The broad aim of the draft regulation is to update EU rules that govern products ranging from insect repellents to water treatment chemicals. (Agricultural pesticides are covered by separate legislation.) For the first time, materials treated with biocides will also be regulated.
Difenacoum appears in many over the counter rat poisons. It is used against pest rodents and acts by preventing the production of blood clotting factors. Conservatives have argued that rodenticides create resistance; they need to be used in rotation to remain effective. Taking one product away will upset the balance and could lead to a major public health disaster.
Future looks cosy for winter households
The European Parliament adopted new gas security rules which should prevent households from having their gas cut off in any future gas supply crisis. EU-wide co-ordination and interconnection arrangements were laid down in legislation which also aims to improve the general management of such crises.
In the event of extremely low temperatures European gas companies would be required to ensure supplies to householders in the following cases:
- extreme temperatures during a seven-day peak period;
- any period of at least 30 days of exceptionally high demand;
- at least 30 days in the event of infrastructure disruption under average winter conditions.
The adoption of the new regulation will also signal an end to indifference in the EU towards the use of gas as a political tool. Following the 2008 and 2009 Russian supply crises, in the future the EU will have a common response in place to such events. It is hoped a coordinated system will prevent the distortive influences of monopolies.
New medicine safety law will mean better information for patients
New rules will ensure that patients have better access through web portals to information regarding potential side effects of medicines. The law will also encourage people to report their own adverse reactions, so that the information can be shared with national authorities and other users. The EU and Member States will set up pharmacovigilance web sites, and medicines that need special monitoring after being placed on the market will be marked with a black symbol.
Online piracy report passes amidst controversy
A controversial report which calls for proportional and fair sanctions in relation to counterfeiting, organised crime and intellectual property rights violations was adopted by MEPs.
Timothy supports the view of the rapporteur Marielle Gallo that online piracy and counterfeiting of goods should be tackled to support innovation and to enhance the competitiveness of the European economy, while ensuring the vast majority of consumers are not hampered.
Timothy, commenting on the own-initiative (non-legislative) report, said:
"This is not a call for monitoring of the Internet. We think this report, far from being "repressive", is reasonable, and we look forward to finding a fair solution to this problem in the future."
