COPERNICUS - 1st satellite launch!

Copernicus is a European system for monitoring the Earth, previously known as GMES (Global Monitoring for Environment and Security), is the European Programme for the establishment of a European capacity for Earth Observation.

Copernicus consists of a complex set of systems which collect data from multiple sources: earth observation satellites and in situ sensors such as ground stations, airborne and sea-borne sensors. It processes these data and provides users with reliable and up-to-date information through a set of services related to environmental and security issues...

The services address six thematic areas: land, marine, atmosphere, climate change, emergency management and security. They support a wide range of applications, including environment protection, management of urban areas, regional and local planning, agriculture, forestry, fisheries, health, transport, climate change, sustainable development, civil protection and tourism.

Sentinel1-A, the first satellite of this family, is scheduled for launch on a Soyuz rocket from Europe’s Spaceport in French Guiana on Thursday, 3 Apr 2014. Sentinel-1B will be launched in 2015.

The launch was successful – find more pictures on ESA blog.

Unleashing the Potential of Cloud Computing in Europe - Trusted Cloud Europe

European Cloud Partnership Steering Board adopted recently the TRUSTED Cloud Europe framework to support the definition of common cloud best practices, linking them to use cases, and applying them in practice. This paper presents two groups of actions in order to reach this objective: 

• Firstly, a flexible common framework of best practices needs to be created, at the legal, technical and operational level. This common framework, consisting of legal and operational guidelines as well as technical standards, can be voluntarily adopted by cloud providers to show that their offering is in compliance with the common framework, and can be used by buyers of cloud services (in the public or private sector) in order to determine more easily whether a cloud service complies with the requirements of their use case.
• Secondly, systematic consensus building is required, through public consultations, workshops, coordination groups etc., targeting all stakeholders, including citizens, public administrations, the cloud industry and cloud users. This would result in a common understanding on issues such as risk management, security requirements, privacy needs, enforcement methods, procurement practices, and any need for legislative reform, all of which can differ from use case to use case. 

The expected cumulative economic effects of cloud computing between 2010 and 2015 in the five largest European economies alone is around € 763 Bn. 

The cloud economy is growing by more than 20% and could generate nearly € 1 trillion in GDP and 4 million jobs by 2020 in Europe4, with the support of the right policy framework. 

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. 

20 years of EU Single Market !!!

Europe must act now to create more prosperity and jobs. And it must do this urgently in the wake of the financial crisis. That is why the European Commission adopted the Single Market Act, a series of measures to boost the European economy and create jobs.

Since 1992, the Single Market has brought tremendous benefits and created new opportunities. But free movement of goods, services, capital and people does not always happen smoothly. There is no truly integrated European market in some fields. Pieces of legislation are missing. And administrative obstacles and lacking enforcement leave the full potential of the Single Market unexploited.

En octobre 2012, la Commission a proposé un second paquet de mesures (Acte pour le marché unique II) afin de continuer à développer le marché unique et d’exploiter tout son potentiel pour stimuler la croissance.

Read more about the implementation of the Single Market.

Single Market Policies cover living and working in the EU, a single market for goods, for services, financial services and capital markets, etc.