Despite Gordon's claims to the contrary, nobody seems to believe him that Britain is "best placed to weather the global financial turbulence", not the currency markets, not foreign investors and nor now the European Commission. The FT reports that the Commission is forecasting EU growth will slow from 1.4% cent this year to just 0.2% in 2009, while the eurozone economy would expand by 1.2% this ye...

The FT reports that the European Commission has thrown its support behind new financial regulation proposed last week by Jacques de Larosiere, former Bank of France Governor, and pledged to fast-track his proposals. "Action is urgent," said Jose Manuel Barroso, Commission President, unveiling about a dozen regulatory and legislative initiatives, which the Commission hopes to bring forward this yea...

The BBC reports that a European Commission report written by former Bank of France Governor Jacques de Larosiere, to be released today, will include proposals for an EU-wide supervisory scheme for banks and other financial bodies, including a new pan-European watchdog.

Conservative MEP, Neil Parish today welcomed proposals from the European Commission to formally allow the use of tallow as a fuel.

Extremely harsh financial sanctions touted in a European Commission monitoring report on Bulgaria revealed by the press have triggered a political storm in the new EU member, with the opposition initiating a no-confidence motion against the governing coalition and demanding the president's resignation.

The FT looks at the Commission’s proposal for a two-tier EU-wide system for financial supervision, proposed in the so-called de Larosiere report. The proposals, which will be tabled next week, include a ”European system of financial supervisors” set up to oversee individual banks and financial institutions.

The European Commission and the US Treasury yesterday (11 May) began a series of talks on the contested financial data sharing deal to combat terrorism in an effort to clinch an agreement before the end of June 2010, Commission sources said. 

Plaid MEP Jill Evans is joining forces with other MEPs in the European Parliament to amend European Commission plans for compulsory electronic tagging of sheep (EID). The MEPs are launching a cross party campaign in Brussels today (Tuesday) in an attempt to force the European Commission to rethink its plans. ... full story

LOTHIANS-BASED Labour MEP David Martin has called for action by the European Commission to halt the horrific trade in weapons of torture.

European Union countries should hand the European Commission powers to coordinate gas flows in the 27-member bloc in the event of a gas crisis, according to a draft Commission report.