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| 12/12/2017 |
Investment plan for Europe: EFSI extended until 2020
On 12 December 2017, the Council extended the European fund for strategic investments (EFSI) with a target of half a trillion euros of additional investments.
EFSI is the flagship initiative under the EU's 'investment plan for Europe'.
"Extending EFSI and creating a well-functioning capital markets union are key measures for supporting job creation and economic growth", said Toomas Tõniste, minister for finance of Estonia, which currently holds the Council presidency.
"Investment has now picked up in Europe, due to favourable financing conditions and positive economic sentiment. But private sector investment levels are still too low and we need to continue our efforts to achieve a balanced and sustainable recovery", he said.
The draft regulation:
- extends EFSI's lifespan until 31 December 2020;
- raises the investment target to €500 billion;
- increases the EU budget guarantee to €26 billion (of which €16 billion will be available for guarantee calls until mid-2018);
- increases the European Investment Bank's contribution to €7.5 billion (from €5 billion currently), pending approval by the EIB's board of directors.
The regulation was adopted without discussion at a meeting of the Agriculture and Fisheries Council. Provisional agreement with the Parliament was reached on 26 October 2017. The Parliament approved the regulation at first reading on 12 December 2017.
Letter of congratulations from President Donald Tusk to Jens Stoltenberg on his re-election as NATO Secretary-General
It was with great pleasure that I learned of the extension of your mandate as NATO Secretary General until 2020. I am delighted that we can continue working together.
It is one thing to win a first election – this is an expression of hope in the future. But to be re-elected while already in office is more special, as we both know from our tenures as our own countries’ prime ministers. Because to be re-elected means not only hope for the future but is also an endorsement of what one already has done.
This is how I see your re-appointment: as a signal that your work, including our cooperation together with President Juncker to strengthen EU-NATO ties, is bearing fruit. Long may it live.
Council agreement on 2018 fishing quotas in the Atlantic and North Sea
On 13 December 2017 after all-night negotiations, the Council reached a political agreement on a regulation concerning the 2018 fishing opportunities for the main commercial fish stocks in the Atlantic and the North Sea.
As a result of this Council decision, the number of fish stocks managed at maximum sustainable yield (MSY) levels will increase next year to 53, 9 more than in 2017. The agreement also foresees solutions for the critical state of eel and seabass stocks.
"'2018 will be a crucial year in the implementation of the Common Fisheries Policy objectives. With this decision we have taken a clear step towards sustainable management of our fish stocks, while making sure that the agreement benefits our fishermen and coastal communities.’"
Siim Kiisler, Minister for the Environment of the Republic of Estonia
Invitation letter by President Donald Tusk to the members of the European Council ahead of their meetings on 14 and 15 December 2017
On Thursday and Friday we meet in our last European Council this year where – in line with the Leaders' Agenda method – we will engage more directly on the politically sensitive issues of EMU and migration. The new method means speeding up our work and breaking deadlocks in the Council of Ministers, which is challenging by definition. We will hold these debates without adopting conclusions, but with a view to setting the scene for decisions next year.
Let me, however, start by underlining that our unity in recent months has been outstanding, and I would like to thank every one of you for this. We have demonstrated that we stand firmly together, supporting one another when needed. Also this week we can demonstrate that despite differences, maintaining unity is possible. The best example of this will be the launch of new cooperation in European defence, i.e. Permanent Structured Cooperation (PESCO). This will be a historic moment, not only because we are witnessing European countries taking up long-term defence activities together. But also because of the context and how this decision came about. 25 EU countries – with the consent of all EU members and within the existing Treaty rules – are launching cooperation in a new field. This example of unity in practice should be an inspiration to all of us, and hopefully a good omen for other important decisions.
After our traditional exchange of views with European Parliament President Tajani at 15.00 on Thursday, Prime Minister Ratas will give us an overview of progress in implementing our previous conclusions. This feedback is important to ensure that the guidance we provide is taken forward with resolve, notably by the co-legislators.
We will then be joined by Secretary General Stoltenberg to discuss EU-NATO cooperation. Next, we will adopt conclusions on Security and Defence where we are making good progress on all fronts. We will also come back to the Social dimension, Education and Culture and adopt conclusions to follow up on the Gothenburg Summit, including our fruitful discussion over lunch. After the first working session, we will celebrate the launching of Permanent Structured Cooperation with the participating Leaders in a short dedicated event.
Over dinner I hope to have an open and frank political discussion on migration, on the basis of the enclosed Note. I think it is important to look at what has – and what has not – worked over the past two years, and draw the necessary lessons. This debate will form the basis for further work in the first half of 2018. Chancellor Merkel and President Macron will also report on the implementation of the Minsk Agreements, with a view to renewing economic sanctions vis-à-vis Russia. Prime Minister Michel has also asked to raise the question of the United States' decision to move their embassy to Jerusalem.
On Friday, we will spend the day among the EU27. In the morning, the Euro Summit will meet over breakfast in an inclusive format, in the presence of ECB President Draghi and Eurogroup President Dijsselbloem. The improved economic situation provides an opportunity to discuss the challenges ahead and the ways to tackle future crises. I want us to have an open discussion on the Economic and Monetary Union and the Banking Union on the basis of the enclosed Note on the EMU.
Finally, the European Council will decide whether it is time to move our negotiations with the UK to the next phase. Whether we have enough guarantees that citizens' rights, EU financial interests and the integrity of the Good Friday Agreement in Ireland will be effectively protected when the UK leaves the EU. In short, whether sufficient progress has been achieved. The EU and UK negotiators have prepared a joint report on what has been agreed so far, and I think we have a satisfactory result on most issues. For that reason, and based on the recommendation by our chief negotiator, I have tabled guidelines which will signal, if you agree, that we are ready to move to the second phase, which will expand discussions to cover transition and the framework for the future relationship. The conclusion of the first phase of negotiations is moderate progress, since we only have ten months left to determine the transition period and our future relations with the UK. This will be a furious race against time, where again our unity will be key. And the experience so far has shown that unity is a sine qua non of an orderly Brexit. Our meeting should end before lunch.
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