European Union

EU finance ministers agree to increase bank deposit guarantees

European Union LogoBrussels - European Union finance ministers agreed Tuesday to raise the minimum level of bank deposit guarantees for their citizens, from 20,000 euros (25,000 dollars) to 100,000 euros by the end of 2011.

In the meantime, the safety net is to be raised to 50,000 euros at the end of June 2009.

Individual member states will be free to raise these minimum levels, while the pay-out period in the event of a bank going bankrupt will be reduced, from three months to three days.

EU finance minister discuss European economic recovery plan

Belgium MapBrussels - The European Union's finance ministers were meeting in Brussels on Tuesday to discuss a 200-billion-euro (252-billion-dollar) recovery plan aimed at lifting their economies out of recession.

Divisions remain as to how much is needed and who should foot the bill, with Europe's largest economy - Germany - saying it is already doing its fair share.

While Britain and France both support large fiscal stimulus packages, Poland and the Netherlands have sided with the German camp in arguing that governments should not go on a spending spree.

EU asks Pakistan to help India in Mumbai terror attacks probe

Brussels, Dec 2 : EU foreign policy chief Javier Solana has urged Pakistan to help Indian authorities investigate the terrorist attacks that killed 195 people in Mumbai.

Solana spoke to Pakistani Foreign Minister Shah Mehmood Qureshi and his Indian counterpart Pranab Mukherjee following the devastating militant attacks in Mumbai, The News reports.

India on Monday formally accused “elements” in Pakistan of being behind the attacks.

In his conversation with Mukherjee, Solana reiterated his condolences to the Indian government, and “underlined the EU’s readiness to cooperate with India to combat terrorism,” his office said.

EU compromise on cars' carbon dioxide emissions reached

Brussels  - Representatives from the European Parliament, EU states and the European Commission late Monday reached a compromise agreement to limit carbon dioxide emitted by new cars.

Under the deal, plans to limit the gas blamed for global warming would be phased in over several years, with 65 per cent of cars to meet the goal of releasing 120 grams or less of the pollutant per kilometre by 2012. By 2013, 75 per cent of vehicles would need to meet the target, with 80 per cent compliance by 2014 and 100 per cent by 2015.

The plan was greeted by industry allies, but called a step backward by some environmental activists.

The long-term goal is to limit emissions to 95 grams per kilometre by 2020.

EU evacuates Europeans injured in India terrorist attack

Brussels  - An aircraft provided by France and Sweden has helped evacuate three Britons and three Spaniards injured in the Mumbai terror attacks, officials in Brussels said Monday.

The injured, two of whom reportedly in serious condition, were accompanied by a Swedish medical team. Their plane landed in London early Monday.

The evacuation was part of EU rescue efforts which began on Thursday as part of the bloc's civil protection mechanism. This provides medical evacuation facilities and consular assistance to European citizens caught in the world's hotspots.

Austria and Greece have also offered to provide airplanes, whose cost for such purposes is shared among EU member states.

Relaxes EU duty-free rules come into force

Brussels  - New rules allowing passengers to bring more duty- free perfumes and wines into the European Union came into force Monday.

The new rules also allow EU member states to limit the number of duty-free cigarettes that can be brought back from outside the bloc to 40. So far, about half of the EU's 27 member states have said they will stick to the current limit of 200 cigarettes.

Travellers' overall allowances for the import of duty-free goods has been raised from 175 euros (220 dollars) to 430 euros for those arriving by air or sea and to 300 euros for those entering the EU by land.

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