Views: 42The world’s first comprehensive regulation on artificial intelligence will enter into force in Europe by August 2026; some parts of it will be in the law already from February and August 2025. The AI Act is designed to ensure that AI models are developed and used in a trustworthy manner, with safeguards to protect […]
Category: Modern EU
Basel III and the EU banking sector: strengthening financial stability and resilience
Views: 18The EU-27 member states will apply the Basel III standards from January 2025; in mid-2024, the EU institutions completed implementation phase of these standards into the member states’ legislation. The new rules represent a vital step in strengthening stability and resilience of the EU-wide banking sector. Besides, the Basel standards are aimed at facilitating […]
Rule of law in the European Union: new annual report
Views: 50The rule of law is crucial for both citizens and business in the EU: it is a precondition for the respect of other values and it guarantees that fundamental rights are upheld in line with a set of core democratic values; it ensures the application of EU law and supports an investment-friendly business environment. […]
Digital trade: assisting the EU-wide growth and digital transition
Views: 20Digital trade accounts for about a quarter of all international trade; it has been growing at a faster pace than traditional trade. The EU is the world’s leader in both exports and imports of digitally deliverable services, which amounted to €1.3 trillion in 2022, or over half of the EU’s total trade in services. […]
EU finances: the role of European Insurance and Occupational Pensions Authority
Views: 26The European Insurance and Occupational Pensions Authority, EIOPA plays a vital role in the EU-wide financial stability, e.g. in avoiding risks, in formulating digital strategy and transformation, as well as in using blockchain framework, crypto currencies and in approaching supervisory technologies.
Consumer protection in Europe: combating sneaky practices
Views: 21Commission’s actions adopted recently are specifically focusing on the assessment of Meta’s practices under the EU consumer legislation. The action started in 2023, immediately after Meta requested consumers either to subscribe to use Facebook and Instagram against a fee or to consent to Meta’s use of their personal data to be shown personalized ads, […]
COP-29: continued fossil fuel consumption versus emission’s control
Views: 31Authorities in Azerbaijan – the country hosts this year’s global climate summit COP29 – suggest that continued fossil fuel extraction might be compatible with the global climate agreement. With four months to go until COP29 kicks off in Baku, the Azerbaijani presidency announced a flurry of initiatives, non-binding pledges and partnerships to be signed […]
Artificial intelligence for sustainability: education and skills
Views: 25The United Nations Higher Education Sustainability Initiative, HESI initiated a Global Forum-2024 on “The Future of Higher Education for Sustainable Development”. This annual HESI event was held in New York in mid-July as a special conference devoted to coming this fall the High-Level Political Forum on Sustainable Development, the UN’s main platform for reviewing […]
Anatomy of digital finance in the European Union
Views: 31The EU-wide specific financial framework, i.e. the capital markets union, has been at the heart of the Commission’s ambition in boosting growth, supporting innovation and promoting European global competitiveness. The EU financial sector has the potential to multiply sustainable finance and become a global leader in this area. The sector is having also a […]
Altered European political economy: challenges and solutions
Views: 37European Union is a constantly moving and adapting “mechanism” for the continental integration. Recently, the EU leaders have abandoned, in part or in whole, the previous political-economy’s theories and principles they cherished for so long; hence the EU-27, as it seems, has set aside the geopolitical corporate competition. However, the leaders are trying to […]