ABBL

Le lien de dépendance des institutions financières vis-à-vis des aides d'urgence accordées sous forme de garanties et de recapitalisations publiques est en régression. Ce signe préliminaire encourageant d'un retour progressif à des conditions de marché dans le secteur bancaire est la conclusion majeure de l'édition de printemps du tableau de bord des aides d'État que publie la Commission aujourd'hui. Au total, la Commission a autorisé des mesures présentées par les États membres pour un volume maximal global de 4 131,1 milliards € pour lutter contre la crise. Les systèmes de garanties représentent plus des trois-quarts de ce volume, soit 3 149,8 milliards €. Les États membres n'ont pas utilisé l'intégralité de ces volumes d'aides autorisés. Le recours effectif aux fonds garantis par l'État et aux mesures de recapitalisation disponibles correspond à un total de 1 235,2 milliards €.     

The Council today agreed a mandate for negotiations with the European Parliament on a draft directive aimed at introducing harmonised EU rules for entities engaged in the management of alternative investment funds, such as hedge funds and private equity. he negotiations with the Parliament will aim to enable the directive to be adopted in first reading. The presidency will negotiate on the basis of a Council general approach agreed today; it took note of remaining concerns expressed by delegations, for instance with respect to third country rules.

The EP Economic and Monetary Affairs Committee on 17th May adopted its position on the draft EU law regulating managers of alternative investment funds, including hedge funds. MEPs voted for new ways to deal with managers and funds located outside the EU, a proportionality system to regulate less risky funds more lightly, and rules on remuneration policies and Short selling. They also made improvements to the directive's transparency and risk reduction rules.

Luxembourg has experienced a severe recession, as it was heavily exposed to the fall in world trade and the international financial crisis. While there are encouraging signs of recovery, the future growth path is likely to be weaker than in the recent past reflecting the sluggish international recovery, structural factors and a loss of competitiveness.