European Union

EU rules Alitalia loan "illegal", approves privatization

European UnionRome/Brussels - A European Commission decision that an Italian state loan to Alitalia was "illegal," on Wednesday hit the ailing carrier as it was also attempting to deal with disruption caused by an ongoing wildcat strike.

Alitalia's bankruptcy commissioner, Augusto Fantozzi, said in an afternoon statement that the airline has mandated its lawyers to pursue legal action against striking employees.

These had caused "damages" to Alitalia's schedule and to that of its clients at airports Fiumicino in Rome and Linate in Milan, Fantozzi said.

EU imposes 1.38-billion-euro fine on car glass cartel

EU imposes 1.38-billion-euro fine on car glass cartelBrussels - The European Commission on Wednesday imposed an unprecedented 1.38-billion-euro (1.76-billion-dollar) combined fine on four car glass manufacturers found guilty of forging a cartel designed to keep prices artificially high.

An investigation concluded that managers of Asahi of Japan, Britain's Pilkington, Saint-Gobain of France and Belgium's Soliver had taken part in a series of illegal talks in a number of European airports and hotels between 1998 and 2003. The meetings were used to fix prices and market share and to allocate customers to each other.

Brussels proposes strict rules on credit rating agencies

Financial CrisisBrussels - The European Commission on Wednesday proposed tough rules designed to improve the functioning of credit rating agencies, which have been partly blamed for the global financial crisis.

The proposals, put together by European Internal Market Commissioner Charlie McCreevy, are designed to "restore market confidence" by imposing strict conditions on rating agencies wishing to operate in the European Union.

If approved by member states and the European Parliament, the proposals will place rating agencies under the control of European supervisors.

EU imposes massive 1.38-billion-euro fine on car glass cartel

EU imposes massive 1.38-billion-euro fine on car glass cartel Brussels - The European Commission on Wednesday imposed an unprecedented 1.38-billion-euro (1.76-billion-dollar) combined fine on four car glass manufacturers found guilty of forging a cartel designed to keep prices artificially high.

An investigation concluded that managers of Asahi of Japan, Britain's Pilkington, Saint-Gobain of France and Belgium's Soliver had taken part in a series of illegal talks in a number of European airports and hotels between 1998 and 2003 to fix prices and market share and allocate customers to each other.

Official: Financial crisis pried open door to new EU-Russia talks

Russia FlagMoscow - The sting of the financial crisis was the main reason for the European Union in reopening talks on a partnership pact with Moscow despite EU criticism of Russia's war with Georgia in August, a top Russian lawmaker said Tuesday.

Mikhail Margelov, the head of the Foreign Affairs Committee in Russia's upper house of parliament, suggested that the EU's decision was driven by pure economic pragmatism.

"In Brussels they felt how uncomfortable it is to parade around for a long time with their fist clenched," he told the news agency Interfax.

EU overrides Lithuania to re-start talks on Russia deal

EU overrides Lithuania to re-start talks on Russia dealBrussels - European Union foreign ministers sidelined Lithuanian objections Monday and decided to re-start talks on a strategic treaty with Russia which it froze after Russia's August war with Georgia.

"It was a very solid discussion, all EU member states except one are in line to take up the (EU-Russia) partnership talks again," said French Foreign Minister Bernard Kouchner, who chaired the talks as holder of the EU's rotating presidency.

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