AmCham EU expressed its strong opposition today to the imposition of financial transaction taxes (FTT) which are being proposed in the EU. AmCham EU believes that the adoption of such taxes will further damage the economy of the European Union.

The case for FTT is often based on the assumption that it taxes the financial sector. In reality the effects of such a tax are felt much more broadly throughout an economy. Susan Danger, Managing Director of AmCham EU stated, 'Although the taxes will be collected from financial institutions, the costs will clearly be borne by all consumers of financial products; that will negatively impact jobs and economic growth at a time when we can least afford it'.

To read the full press release, please click here.

To read AmCham EU's full position on the financial transaction tax, please click here.
 

In business, disputes are a fact of life. How those disputes are resolved, however, can make all the difference. Court-based litigation can be a costly and drawn-out process and can have unintended consequences for both claimants and defendants.

In the EU, there is a clear desire on the part of both businesses and consumers, to create a system of dispute resolution that is fair, efficient and cost-effective. By using ADR instead of court-based litigation, there is a clear benefit to be had by all parties to a dispute. The EU now has the opportunity to explore the full potential of ADR schemes in Europe in the context of initiatives in the field of collective redress.

Drawing on the knowledge and experience of its members, AmCham EU is proud to announce an ADR seminar, organised in conjunction with BUSINESSEUROPE, Finding balanced alternatives: promoting alternative dispute resolution mechanisms in the EU on 19 September with keynote speaker Viviane Reding, Vice-President of the European Commission.

For more information and to register for this free event, please click here.
 

AmCham EU would like to announce that Rory Macmillan, Government & Public Affairs Director for Nike EMEA, has been elected as its new Chair.

A dual Irish and British national, Rory Macmillan has been an active member of AmCham EU for several years, both as Chair of its EU Presidency Group and Vice-Chair of its Trade Policy Committee. He joined Nike in May 2001 and is responsible for Nike engagement with the EU and national governments, along with Nike's contribution to public policy development and political outreach throughout the EMEA region.

Rory Macmillan succeeds John Vassallo, Vice President EU Affairs, Microsoft who served as Chair for the past four years. He will commence his two year term as Chair on 7 July 2011.

Please click here to read the AmCham EU press release announcing Rory Macmillan's election.
 

The Executive Council of AmCham EU has the pleasure of inviting you to the launch of its latest study by Dan Hamilton, Europe 2020: Competitive or Complacent?

This study tracks Europe’s competitive position around the globe through six critical factors: flows of goods, services, money, energy, people and ideas.  Hamilton concludes that the decisions and policies the EU adopts now and into the next decade will either firmly establish it as a strong competitive global player or risk the Union’s very construction as we now know it.

The programme for the study’s launch includes a keynote speech from Olli Rehn, European Commissioner for Economic and Monetary Affairs and a panel discussion including H.E. William Kennard, US Ambassador to the EU, H.E. Ricardo Neiva Tavares, Brazilian Ambassador to the EU and H.E. Jaimini Bhagwati, Indian Ambassador to the EU.

For more information on the event and how to register, please contact Sophie Bryson.
 

On 1 January 2011, Hungary took over the rotating presidency of the Council of the European Union. This is Hungary’s first time at the helm and has proposed an ambitious programme outlining several key priorities to meet the EU 2020 objectives. According to the Hungarian presidency website the Hungarian Presidency of the Council of the European Union wishes to build its political agenda around the human factor, focusing on four main topics: growth and employment for preserving the European social model; stronger Europe; citizen friendly Union; enlargement and neighbourhood policy.

After initial outreach meetings in Brussels with key Hungarian stakeholders and the Permanent Representation and a delegation visit to Budapest AmCham EU is happy to release the 'Recommendations to the Hungarian Presidency of the Council of the European Union'. In the report AmCham EU highlights the top business priorities for ongoing dossiers at the Council. (Paper copies will be available soon).

Read AmCham EU's Recommendations to the Hungarian Presidency of the Council of the European Union

Hungary's Presidency Website

Council of the European Union

On 31 January, AmCham EU organised a site visit to the UPS air hub of the Cologne Bonn airport for the Coordinators of the TRAN committee in the European Parliament.
 
Brian Simpson, Chair of the committee, was joined by Said El Khadraoui (S&D coordinator), Dieter-Lebrecht Koch (EPP, Committee Vice Chair), Gesine Meissner (ALDE Coordinator) Roberts Zile (ECR Coordinator) and Michal Wojciechowski (Administrator for the TRAN Committee). The visit was very timely, as it took place right before MEPs start discussing the threefold airport package, which proposes to revise existing regulation on the noise emissions of airports, slot allocations for airlines, as well as the liberalisation of airport groundhandling services.

AmCham EU welcomes the European Commission’s proposals on the Capital Requirements Directive IV (CRD IV). The European Commission has led efforts to restore financial stability through a range of issues, including higher standards of capital. However, the international nature of markets and firms is at odds with separate regulatory reforms, and AmCham EU strongly believes that a level playing field for the global financial services industry is essential.

We believe that the best way to ensure safer and sounder markets is to strive for international consistency in key areas such as capital, taking into account global companies’ need for crossborder financial services.

Click here to read the full paper.

On Monday, the 27 European Council members met in an informal summit to determine the necessary plans to stimulate growth and employment for the financially challenged EU.

The Council’s subsequent press release detailed their immediate priorities for economic recovery including completing the single market, helping small and medium-sized businesses, and stimulating employment particularly for younger workers.

Their priorities mirrored the five key measures for growth that AmCham EU identified in advance of the summit: the quick adoption and implementation of economic governance measures; the deepening and reinforcement of the single market; the reformation of the labour market and preparation of the workforce; the boosting of innovation; and the facilitation of access to third country markets.

AmCham EU is hopeful that the Council will act swiftly on their priorities in order to restore economic prosperity in the EU.

Please click here to read AmCham EU's press release following the 30 January summit
 

At a meeting with AmCham EU members on Friday 27 January 2012, Ambassador Philip Verveer, Deputy Assistant Secretary of State and US Coordinator for International Communications and Information Policy urged closer cooperation between the US and EU on several key policies, namely Data Protection, Cloud Computing and on Internet Governance.

 

In her first message of 2012, Susan Danger, Managing Director of AmCham EU, gives an update on the organisation’s activities for the coming months, including a cross-sectoral delegation to Strasbourg and Transatlantic Week.

In advance of the informal European Council meeting on 30 January, AmCham EU identified five key measures it believes are urgently needed to put Europe back on a path of sustainable growth. The economic and financial crisis gripping Europe is entering a critical phase requiring bold action and strong leadership.

‘Austerity measures alone are not going to get Europe out of this crisis. We need to put in place mechanisms that are going to spur employment, encourage business investment and drive the necessary economic reforms to ensure Europe remains a player in the global economy’, stated Hendrik Bourgeois, Chair of AmCham EU.

AmCham EU heartily endorses the call for a European Cloud Partnership proposed last week by Neelie Kroes, Vice-President of the European Commission, in a speech given in Davos at the World Economic Forum. AmCham EU agrees that by inviting public authorities, industry, consumers and suppliers to work together on Cloud issues we can further advance the technology and better address the challenges and barriers.

On Monday 23 January, AmCham EU welcomed Philip Lowe, Director-General of DG Energy for January’s plenary meeting focusing on the 2050 Energy Roadmap. Lowe highlighted the importance of providing businesses and households with secure, sustainable, affordable energy for completing the internal market.

Speaking on the potentials and difficulties regarding new energy technologies, he said 'Energy policy is not only about climate change. Ensuring your energy supplies and staying competitive matter too. You must not think only of saving the world, but also of saving yourself'.

AmCham EU welcomes the Commission’s comprehensive reform of data protection rules and applauds its efforts to create one law applicable to all Member States. AmCham EU believes that privacy laws need to be globally consistent and clear. To facilitate growth and innovation in the EU (and globally), data protection rules should be flexible and simple enough to encourage the development and take up of innovative new services.

Last night, at 21:00 EST, President Barack Obama delivered his annual State of the Union address before the US Congress and the American people. In this year's speech, President Obama highlighted his plans for continued economic recovery in the United States and included a call to ease the partisanship affecting the implementation of measures to improve the economy.

This annual address, a major event of the American political calendar, is used as a platform for the President of the United States to explain policy priorities for the coming year.

Please click here watch President Obama's State of the Union address.

Today, economic and political leaders from around the globe will gather in Davos, Switzerland for the annual meeting of the World Economic Forum. The attendees, including German Chancellor Angela Merkel and US Treasury Secretary Timothy Geithner, will discuss economic and political issues affecting the global community, particularly topics centered around this year's theme, 'The Great Transformation: Shaping New Models.' AmCham EU hopes that the conference provides clarity and direction for future global growth.

On Friday 21 January, AmCham EU Managing Director Susan Danger visited Talinn, Estonia to take part in a panel discussion on strengthening transatlantic relations. Hosted by AmCham Estonia, the event included an interactive discussion on the topic with two other panellists, Marko Mihkelson from Riigikogu and Ambassador Polt, US Ambassador to Estonia.

Click here to see view coverage of the event.

Today members of the European Parliament elected Martin Schulz (S&D) as its new president. Schulz will take the post from current European Parliament President Jerzy Buzek and will lead the EP until the next elections in June 2014.

The current climate presents President Schulz with many challenges and AmCham EU looks forward to working with him in the coming two and a half years.

Please click here to read a biography on President Schulz on the website of the European Parliament
 

On 14 January, The Hon. Michael C. Punke, US Ambassador to the WTO and Deputy United States Trade Representative visited AmCham EU to talk to members about the state of play in the WTO. In this video, Punke acknowledges that something needs to be done to improve the WTO's negotiating functions and explains that there is willingness among member countries to not only maintain the WTO, but also ensure that it remains effective.

Today, the European Commission adopted a Green Paper consultation on innovative card, internet and mobile payments. Commonly identified by the public as a major concern, the European Commission is examining ways at reducing the barriers to new and innovative payment methods.

The AmCham EU Financial Service and Company Law Committee welcomes European Commission action on payment systems and looks forward to being a part of the public dialogue on this issue.

Please click here to read the European Commission's press release on the payments consultation.

The European Commission adopted its modernised legislative framework on public procurement today. The package includes two directives, which adapt the general procurement directive 2004/17 and the 2004/18 directive for specific services such as water, energy and transport, and a new directive on service concessions. Click here to be taken to DG Markt’s information page.
 
AmCham EU welcomes the better governance aspects of the proposals and the new transparency rules. We are also in favour of a life-cycle cost criteria that allows public authorities to assess the cost-effectiveness of their contracts. Please also refer to our paper on public procurement for more details on our position.
 
We look forward to contribute to the discussions at the European Parliament and Council in the New Year.

On 14 December, AmCham EU welcomed Dan Mullaney, Assistant US Trade Representative to Europe & the Middle East to discuss the High Level Working Group on Jobs and Growth, co-lead by USTR and DG Trade, which was set up following the EU-US Summit and Transatlantic Economic Council (TEC) which took place in Washington D.C. on 28-29 November.

Yesterday, the European Commission released the long-awaited Energy Roadmap 2050. AmCham EU advocates for a sustainable and integrated energy market and on 23 January will take the opportunity to discuss the Roadmap with Philip Lowe, Director General, DG Energy.

Please click here to read the European Commission's press release on the Energy Roadmap 2050.

The European Commission issued a Communication on 6 December outlining the characteristics of the new value-added tax (VAT) regime and priority actions needed to create a simpler, and more efficient VAT system in the EU. Will Morris, Chair of AmCham EU’s Tax Task Force stated that, ‘We believe the Communication is a step in the right direction. We need a VAT system that is workable for business, especially when it comes to cross-border trade’.

AmCham EU welcomes the move by European leaders on 9 December to enforce stricter fiscal and financial discipline in their budgets.

While not a perfect solution, the reached agreements provide for a good basis for greater stability and
predictability for business invested in Europe, which is essential to generate growth and employment. Europe
should also continue the efforts to deepen and reinforce the integrity of the single market which is crucial for future growth prospects in Europe.

‘It is very encouraging to see that the European leaders are so strongly committed to the euro, and are taking useful steps towards stronger economic and fiscal integration within the Eurozone. We regret the lack of unanimity displayed at the summit last week, but we call upon the UK and the other EU Member States to continue to work closely together in the further deepening of the single market, including in the area of financial services’, said Hendrik Bourgeois, Chair of AmCham EU.

To read the coverage of AmCham's views in The Parliament Magazine, click here.

On Tuesday 6 December, the panel discussion during the AmCham EU plenary focused on the role of the ICT sector in making a more sustainable and efficient Europe.

Setting the scene and providing the regulatory context was Colette Maloney, Head of Unit, ICT for Sustainable Growth, DG Information Society at the European Commission. Miguel Tolenado, Programme Manager at Cullen International presented some key projects that highlight the vital role of the ICT sector’s contribution to sustainability such as smart grids and smart cities.

Providing practical examples of how the ICT sector is investing in and implementing new technologies was Neil Harris, Head of Sustainability at Cisco Europe. Pastora Valero, Cisco's Director of EU Public Policy Government Affairs and Vice-Chair of AmCham EU’s Digital Economy Committee was the moderator. The panel’s conclusions illustrated that the ICT sector leads when it comes to its contribution to sustainability and will play a vital role in proving expertise to other sectors.

Speaking at AmCham EU on 6 December, Anthony Whelan, Head of Cabinet for Vice-President Neelie Kroes, responsible for the Digital Agenda highlighted the top priorities for his team and the Vice-President.

Featuring high on the agenda for 2012 is cyber security and in particular Whelan highlighted the need for increased cooperation between the EU and US. Cloud computing and the expected release of the Commission’s strategy in early 2012 also feature at the top of the agenda. Whelan emphasised that Europe cannot do it alone and it is important to work closely with industry to ensure interoperability.

Finally, Whelan mentioned data protection as another priority for the New Year. In particular, Whelan favoured harmonised rules across Europe to enhance the Single Market and to ensure the growth and competitiveness of Europe.

Congratulations to Meglena Mihova (EPPA) and Vincent Jamois (Time Warner) on their re-election as chairs of AmCham EU's Environment Committee (Milhova) and Intellectual Property Committee (Jamois).

As Vice-President, Global Public Policy for Time Warner Europe, Vincent Jamois is responsible for overseeing legislative and public policy issues that affect Time Warner and its divisions. As well as acting as Chair of the Intellectual Property Committee, he is also Chair of AmCham EU's Policy Group and a Member of the Board.

Since joining EPPA in 2000, Meglena Mihova has specialised in REACH, trade, enlargement and environmental issues. She leads EPPA’s unparalleled practice on the REACH Regulation and its application. She has been Chair of AmCham EU's Environment Committee since December 2009, and AmCham EU looks forward to her continued involvement in one of the organisation's most active committees.

AmCham EU urges the leaders meeting at the 9 December European Council summit to adopt comprehensive measures to stem the economic and financial crisis gripping Europe and prevent the debt crisis from damaging the European project. The discussions around how to address the crisis present an historical opportunity for Europe to come out of the crisis stronger and more unified.