Daily Press Summary
New poll: Voters would vote to stay in the EU if some powers were returned to the UK but leave otherwise David Lidington: National Parliaments could have a 'red card' to block initiatives from the European Commission A ComRes survey for the Independent on Sunday has found that 46% of voters would vote to leave and 24% to stay the EU if a referendum on membership were held now. However, voters would back remaining in the EU by a margin of 43% to 24% if some powers were returned to the UK.
Meanwhile, in an interview with Die Welt, UK Europe Minister David Lidington said, "perhaps we should introduce the principle of a 'red card' so that a given number of national parliaments can block initiatives from the [European] Commission" - an idea long advocated by Open Europe.
Minister President of Saxony: EU should be restricted to its core competenciesIn an interview with Welt am Sontag, Stanislaw Tillich (CDU), Minister President of Saxony and former MEP, says that “Brussels tries to micro-manage everywhere. In Germany we had a reform of the federalist system where some responsibilities were transferred from the federal level to the states…This must be done in Europe as well. It would not be a bad idea to organise some form of subsidiarity summit. This has nothing to do with re-nationalisation. I believe that Europe should be restricted to its core competencies.” Welt am Sonntag
FAZreports that the main German parties support introducing a 3% threshold for the 2014 European Parliament elections before the Bundestag elections in September. The initiative follows the 2011 ruling of the German Constitutional Court against a 5% threshold in the European Parliament elections. FAZ FAZ 2 Handelsblatt
A report by Oxera on behalf of Association of Financial Markets in Europe (AFME) has found that the Financial Transaction Tax (FTT) may raise only €20bn compared to the Commission estimates of €34bn. Given costs of the tax, the 11 countries instituting it could end up losing money according to the report. CityAM
Saturday’s FT reports that the European Banking Authority is seeking to widen the definition of a “material risk taker” subject to the EU bonus cap rules to include all banker’s earning over €500,000. Saturday’s FT Observer City AM IHT: Dixon
In separate interviews with the FT, the heads of Portugal’s two largest banks – Millennium BCP and Banco Espirito Santo – said that they were concerned about the precedent set by the Cypriot bail-in and warned that eurozone leaders could set off contagion if they continue their harsh approach to the struggling eurozone countries. FT
In an interview with Kathimerini, EU Internal Market Commissioner Michel Barnier said that he believes the Commission can “put forward a proposal for a single resolution mechanism, in the coming weeks within the limits of the existing [EU banking] treaty.” Kathimerini
In an interview with Cinco Días, Spanish Budget Minister Cristóbal Montoro said the government is not planning to raise VAT on certain products and services to 21% – despite the European Commission recommending it. Cinco Días: Montoro
Kathimerini reports that public Greek firms that are privatised after receiving money from EU structural funds will have to repay the cash, potentially delaying the privatisation process. Kathimerini
German Economy Minister and Vice-Chancellor Philipp Rösler warned that imposing anti-dumping tariffs on Chinese solar panels would be a “grave mistake” in an interview with Welt am Sonntag. FT Spiegel Welt
European Voice reports on analysis commissioned by the European Commission and carried out by Bloomberg New Energy Finance which has found that the steel, cement, refining, lime, glass, ceramics and pulp sectors all generated a profit within the EU’s Emissions Trading System by being over-allocated emission allowances in the scheme. European Voice
EU Observer reports that next year’s draft budget of the European External Action Service sees a cut of 23% to secure communications. EUObserver
The Telegraph reports that MPs are questioning why the UK abstained rather than voting against an EU proposal to ban restaurants using olive oil in reusable bottles or dishes.Telegraph Guardian
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