A new €10 banknote is launched!

The note has a refreshed design and some enhanced security features. It will start circulating in the euro area on 23 September 2014.

The ECB (European Central Bank) and the national central banks (NCBs) of the Eurosystem are responsible for the integrity of euro banknotes. So they have developed a second series of euro banknotes with enhanced security features which will help to make the banknotes even more secure and maintain public confidence in the currency.

The trailer is available on the ECB website: 13/01/2014 Illuminating the Europa series: unveiling the new €10

EC fines banks with € 1.71 billion for illegal activities

The European Commission has fined 8 international financial institutions a total of € 1 712 468 000 for participating in illegal cartels in markets for financial derivatives covering the European Economic Area (EEA). Four of these institutions participated in a cartel relating to interest rate derivatives denominated in the euro currency: Barclays, Deutsche Bank, Société Générale, RBS.

The EIRD cartel operated between September 2005 and May 2008. The settling parties are Barclays, Deutsche Bank, RBS and Société Générale. The cartel aimed at distorting the normal course of pricing components for these derivatives. Traders of different banks discussed their bank's submissions for the calculation of the EURIBOR as well as their trading and pricing strategies.

Interest rate derivatives (e.g. forward rate agreements, swaps, futures, options) are financial products that are used by banks or companies for managing the risk of interest rate fluctuations. These products are traded worldwide and play a key role in the global economy.

Joaquín Almunia, Commission Vice-President in charge of competition policy, said: “What is shocking about the LIBOR and EURIBOR scandals is not only the manipulation of benchmarks, which is being tackled by financial regulators worldwide, but also the collusion between banks who are supposed to be competing with each other. Today's decision sends a clear message that the Commission is determined to fight and sanction these cartels in the financial sector.”

Check the RAPID release for more details. 

Good examples of EU funded projects

"The European Union budget is relatively small (around 1% of EU GNI), but it can make a big difference." 

This is what the EC thinks and this is why last week published a list with successfully funded projects from EU budget (in the same day when the Council was negotiating the Multi Financial Framework, that is the EC budget until 2020). Smart PR trick!

The list contains references to almost 100 european projects, from which only 3 had beneficiaries from Romania:

• Major EU investment for a pan-European scientific research hub in Romania – Funding: almost EUR 180 million (ERDF) - adica super laser-ul ce se va construi la Magurele;
• Enabling the disabled of Europe – Funding: EUR 32 391.47 - ceva donatii pe la Petrosani;
• Bakery production for local community of over 85 000 people – Funding: EUR 920 107 (EAFRD) - o brutarie la Cluj.

Read about the EU funded projects in investing in our future - on press release.

Euro in Photo

Ce inseamna pentru noi moneda EURO? Pentru noi romanii nimic :) pentru altii expresie prin fotografie.
Poze aici.

RON vs EURO = 1 - cel putin pana in 2015

Poze cu RON-ul aveti ? ;)