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Switzerland Open to UK Accession to EFTA
December 02, 2016
Swiss President Johann Schneider-Ammann has announced that Switzerland would agree to talks on the reentry by the UK into the European Free Trade Association (EFTA), a free trade zone comprising Switzerland, Iceland, Norway, and Liechtenstein that maintains access to the EU's "single market," upon the country's exit from the EU.
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EU Commits Funding Toward "Sustainability" Agenda
December 02, 2016
In remarks on the adoption of an EU package implementing the UN's Sustainable Development Goals, the EU's High Representative for Foreign Affairs and Security Policy Federica Mogherini praised EU institutions for committing funding to non-EU countries to fulfill the global "sustainability" agenda.
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EU Proposes Centralized Business Restructuring System
December 01, 2016
As part of its Capital Markets Union Action Plan and Single Market Strategy, the European Commission has proposed a centralized EU framework, replacing "inefficient" and divergent rules in member states, under which businesses will restructure their operations prior to insolvency and the debt of failed entrepreneurs will be discharged after three years.
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EU Parliament Pushes for "Common Defence Policy"
December 01, 2016
The European Parliament has passed a resolution calling on EU institutions to strengthen the role of the European Defence Agency and to establish an EU headquarters to implement a "common Union defence policy," through which the EU can act on its own where "NATO is not willing to take the lead."
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Auditors Seek More Centralized EU Bank Supervision
December 01, 2016
The European Court of Auditors has published a press release on the progress of the EU's Single Supervisory Mechanism, a supranational bank oversight system run by the European Central Bank (ECB), asserting that the ECB relies too much on cooperation with national bank supervisory authorities to effectively complete its mission.
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