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             EUbusiness Week - Issue 106
                     26 October 2001
             http://www.eubusiness.com
Your way through the EU information maze
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Top stories on EUbusiness
=========================
1. European airlines say transatlantic traffic down by 36.2 pct
2. EU summit backs US in war aims, sees room for rate cuts
3. MEPs overturn compromise on employee consultation
4. EU candidates gain symbolic victory on cigarette taxes
5. Poland makes accession progress
6. EU says Santa suit claim is so much Ho! Ho! Ho!

Publisher's Note
================
Companies looking for even small amounts of risk capital know 
how difficult things are at the moment. Well, Europe's risk 
capital industry is likely to fall even further behind that of 
the United States without continued reform to improve investment 
and create an integrated cross-border market. The warning is 
contained in a review of the Risk Capital Action Plan (RCAP) 
just published by the Commission. Internal Market Commissioner 
Frits Bolkestein urges EU countries to press ahead with 
implementing the RCAP which is supposed to facilitate investment 
and stimulate risk capital.

The review highlights the slow headway being made by EU 
proposals such as those on an EU patent and on supplementary 
pension funds. It also shows that, while venture capital funds 
raised in Europe nearly doubled last year, investment by VCs in 
the US was four times larger than that in Europe. And corporate 
venturing - an increasingly important source of financing for 
entrepreneurs - remains only 20-25% of the level in the USA. We 
can only hope that Mr Bolkestein's confidence that "the European 
venture capital industry will emerge stronger and more 
competitive from the current cyclical downturn" is well placed.
Full story: http://www.eubusiness.com/item/61591 

At EUbusiness we can talk about venture capital with some 
experience, and are now offering a major share in EUbusiness.com 
in exchange for funding and/or resources to take us to profit.  
If you would like a copy of EUbusiness' Information Memorandum 
for a share in EUbusiness.com, please email me as soon as 
possible.

Regards,
Nick Prag
Publisher, EUbusiness 
mailto:nick@eubusiness.com 

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1. European airlines say transatlantic traffic down by 36.2 pct
---------------------------------------------------------------
European airlines have seen a fall of 36.2 per cent in traffic 
over the North Atlantic since the September 11 attacks in the 
United States and a 9.6 per cent drop in traffic on European 
routes, says the Association of European Airlines. The 
association said that in the five weeks since the attacks the 
market had stabilised on transatlantic routes at about one third 
lower than the figure for the same period last year.
Full story: http://www.eubusiness.com/item/61481 


2. EU summit backs US in war aims, sees room for rate cuts
----------------------------------------------------------
At their second summit since the attacks on the US, EU leaders 
at the weekend reiterated their "staunchest" support for America 
in its military strikes on Afghanistan and labelled the 
elimination of the al-Qaeda network the legitimate and primary 
aim of the attacks.
Full story: http://www.eubusiness.com/item/60992 
The EU and the European Central Bank also found common ground on 
the possibility of an interest rate cut under the current 
economic trends.
Full story: http://www.eubusiness.com/item/61107 


3. MEPs overturn compromise on employee consultation
----------------------------------------------------
The European Parliament has backed tough amendments to a draft 
Directive requiring companies with at least 50 employees to 
consult them on changes in work organisation. MEPs are now 
likely to negotiate with the Council of Ministers to seek 
agreement on a final text. The vote rejected a compromise that 
would have allowed small companies in the UK and other countries 
with no such domestic legislation up to seven years to implement 
the measure.
Full story: http://www.eubusiness.com/item/61480 


4. EU candidates gain symbolic victory on cigarette taxes
---------------------------------------------------------
The Commission is to allow candidate countries to delay imposing 
high excise duties on cigarettes after enlargement. Tuesday's 
decision is important in that it marks the first time the EU has 
permitted candidate countries to deviate from EU norms -- albeit 
for a limited period of time -- in the key internal market 
sector.
Full story: http://www.eubusiness.com/item/61518 


5. Poland makes accession progress
----------------------------------
Poland wants to take part in the debate on the future of the EU 
on the same level as member countries, new Prime Minister Leszek 
Miller said on Thursday - a week after his ex-communist 
Democratic Left Alliance-led government was sworn into office.
Full story: http://www.eubusiness.com/item/61569 
Miller this week held talks with German Chancellor Gerhard 
Schroeder in a bid to reinvigorate moves towards Polish 
membership of the EU...
Full story: http://www.eubusiness.com/item/61477 (subscribers 
only)
...and Poland reached agreement on meeting the EU's 
environmental norms.
Full story: http://www.eubusiness.com/item/61426 (subscribers 
only)


6. EU says Santa suit claim is so much Ho! Ho! Ho!
--------------------------------------------------
The Commission has rejected claims by British retailer 
Woolworths that it must sell Mother Christmas outfits because of 
EU law as "a marketing prank." "EU rules aim to prevent 
discrimination against female employees at work, and have 
nothing at all to do with the characteristics of goods sold in 
shops," said a Commission spokesman. In a press release Tuesday, 
Woolworths said "politically correct (gender) legislation from 
Brussels means that Woolworths stores are being made to 
stock 'Mother Christmas' outfits along with Father Christmas 
outfits."
Full story: http://www.eubusiness.com/item/61434 


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Other stories on EUbusiness this week
=====================================
* EU drive to reduce intake of dioxin and PCBs 25-Oct
http://www.eubusiness.com/item/61607 
* European IT competition dominated by German innovators 25-Oct 
http://www.eubusiness.com/item/61601 
* EU urges Britain to be more flexible on alcohol, tobacco 
imports 24-Oct 
http://www.eubusiness.com/item/61576 
* EU mulls potential terror threat to Europe's food supply 24-Oct
http://www.eubusiness.com/item/61474 
* Boost for European data and content industry 24-Oct
http://www.eubusiness.com/item/61472 
* British share of Europe investment pie shrinks: report 24-Oct
http://www.eubusiness.com/item/61436 
* EU sees "no injury" to US steel industry from imports 23-Oct
http://www.eubusiness.com/item/61368 
* EU calls for freer, impartial Japanese telecom market 23-Oct
http://www.eubusiness.com/item/61330 
* World economic slowdown eases commission criticism of Irish 
inflation 23-Oct
http://www.eubusiness.com/item/61372 
* EU sees foot-and-mouth waning 23-Oct
http://www.eubusiness.com/item/61367 
* EU institutions slammed over staff parental leave rights 23-Oct
http://www.eubusiness.com/item/61324 
* Euro price message getting through in France 23-Oct
http://www.eubusiness.com/item/61298 
* Leading think-tanks say Germany on the brink of recession 22-
Oct
http://www.eubusiness.com/item/61246 

Subscribers only
****************
* German police retrieve stolen euro booty 25-Oct 
http://www.eubusiness.com/item/61615 
* Conference on Balkan reforms opens in Bucharest 25-Oct 
http://www.eubusiness.com/item/61583 
* Cyprus will be among first of new countries to join EU: Prodi 
25-Oct
http://www.eubusiness.com/item/61621 
* Austrian Airlines to give Lauda Air 73-million-euro cash 
injection 24-Oct 
http://www.eubusiness.com/item/61506 
* Euro-zone posts 5.4 billion euro trade surplus in August 23-
Oct 
http://www.eubusiness.com/item/61347 
* EU signals tough line on state aid to Swissair 23-Oct
http://www.eubusiness.com/item/61307 
* Euro-zone monetary reserves decline 23-Oct 
http://www.eubusiness.com/item/61344 
* Political, practical reasons keep EU on military sidelines 22-
Oct
http://www.eubusiness.com/item/61211 
* Prodi's summit no-show sends Brussels tongues wagging 22-Oct 
http://www.eubusiness.com/item/61227 
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Inside the EU Institutions
==========================

Council Watch
------------- 
Ghent European Council declaration: 
http://ue.eu.int/Pressdata/en/ec/d%C3%A9cls-gand-en1.pdf 

Agriculture Council, 23 October, Luxembourg (in French only)
http://ue.eu.int/Pressdata/fr/agricult/ACF2D42.pdf 


Euro Parliament Watch
---------------------
The European Parliament in plenary session this week approved 
the first draft of the 100-bn-euro budget for 2002.
Full story: http://www.eubusiness.com/item/61596 
MEPs also told Turkey it had a way to go on human rights...
Full story: http://www.eubusiness.com/item/61581 (subscribers 
only)
...and a British MEP on Wednesday rejected a private report that 
labelled nuclear reprocessing plants in France and Britain 
potentially more dangerous than the exploded reactor at 
Chernobyl in the Ukraine.
Full story: http://www.eubusiness.com/item/61510 (subscribers only)

Press: http://www.europarl.eu.int/press/index_en.htm 


EU diary
--------
29 October, Environment Council, Luxembourg
29-30 October, General Affairs Council, Luxembourg
30 October, Research Council, Luxembourg
5 November, Culture & Audio-visual Council, Brussels
6 November, ECOFIN Council, Brussels
8 November, Co-operation & Development Council, Brussels


Internet Monitor
================

Regional cooperation in the Western Balkans
-------------------------------------------
The Commission has adopted a strategy to help the Western 
Balkans secure political and economic stabilisation while also 
developing closer association with the EU, and opening a road 
towards eventual EU membership. Details: 
http://europa.eu.int/comm/external_relations/see/news/ip01_1464.htm 


Agriculture and the WTO
-----------------------
Commissioner Franz Fischler outlines Europe's position in the 
WTO farm trade talks. 
http://europa.eu.int/comm/agriculture/external/wto/index_en.htm 


A European Food Authority
-------------------------
Political agreement on the Food Authority - and a decision on 
its location - is expected by the end of 2001, with formal 
adoption of the Regulation early in 2002. Background information 
and texts can be found at 
http://europa.eu.int/comm/food/fs/efa/index_en.html 


Economic and Social Committee
-----------------------------
If you are one the many who are unsure as to the role of the 
European Economic and Social Committee, this site will put you 
straight: 
http://www.esc.eu.int/pages/en/org/plaquette_e.htm 


Community
=========

Poll
----
What is the best way to help European businesses in the wake of 
the terrorist attacks in the U.S. - general interest rate cuts, 
subsidies for specific sectors or tax breaks for specific 
sectors? Register your vote!
http://www.eubusiness.com/poll/

Business Forum
--------------
* In 'Find an Agent', Humphrey Murphy is looking for partners 
for his Irish-based leisure company.

If you're looking for a business partner, buyer, agent, 
supplier, or a new job - visit our business-to-business forum. 
http://www.eubusiness.com/discussion/

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