The meeting of the Council of Ministers of Agriculture and Fisheries of the European Union, held in Brussels yesterday, 17 July and today, 18 July 2017, discussed a large number of points, including the future of the Common Agricultural Policy, the identification of fishing opportunities in EU waters and confirmation of the Delegated Act which enables Croatian producers to label wine produced from the Teran variety with that name within the protected designation of origin Croatia Istra.”I am satisfied with the results of this session of the EU Council of Ministers, primarily because of the final confirmation by the EU to our winemakers that they can produce and market Teran wine, as it has been for centuries. We fully agree with the Commission’s decision and this is now the finished story.” said Minister Tomislav Tolusic after a two-day session of the Council of Ministers of Agriculture and Fisheries.Following the decision in the European Parliament and the discussion in the Council, the delegated act will enter into force on Wednesday, 19.7.2017. which finally gave Croatian wine producers from Istria the opportunity to use the traditional name “teran”.Jakovčić: The battle for Teran was won, thank you allRepresentative Ivan Jakovčić (IDS-ALDE) for the Croatian media commented on today’s decision of the EU Agriculture Council to accept the delegated act of the European Commission on Teran.”It was to be expected that, apart from a short discussion, there would be no vote at the meeting of the EU Council of Agriculture Ministers on the act of the European Commission which allows Istrian producers of Teran to further use the name of this wine variety. The main battle was fought and won in the European Parliament. There is now no obstacle to the entry into force of the Commission’s delegated act. Congratulations to all who participated and gave their contribution in this, for Istrian winemakers excellent work and great mutual success. I expect the Teran Act to take effect this week”, Said Jakovcic.
A cross-party committee of MPs has launched an inquiry into the future of the UK’s financial services after the country has left the EU.The Treasury Select Committee – made up of members of the UK’s lower house of parliament – will examine what the government’s financial services priorities should be when it negotiates the UK’s future trading relationship with the EU and other countries.The inquiry will also consider whether the UK should maintain the current regulatory barriers that apply to third countries.Nicky Morgan, chair of the committee, said: “London is the world’s premier financial centre, and many of us want to keep it that way.” Headquarters of the CSSF, Luxembourg’s financial regulatorThe Luxembourg financial services regulator, the CSSF, has issued a reminder that fund management responsibilities could still be delegated to the UK in the event of the latter leaving the EU without a withdrawal deal, if companies fulfil certain conditions.The CSSF said it was working towards the required co-operation with the UK’s Financial Conduct Authority (FCA) being in place by 29 March in the event of such a “no deal” Brexit.The regulator also reminded Luxembourg firms and investment funds passporting activities into the UK that a temporary permissions regime had been operating since 7 January.Firms and investment funds notifying the FCA under this regime would be authorised to continue existing regulated business within the scope of their current permissions in the UK for a limited period after 29 March while seeking full FCA authorisation.The regime also allowed inbound marketing of EU funds in the UK to continue temporarily.According to Luxembourg for Finance, a public-private partnership established to develop the Duchy’s financial centre, the country’s regulators granted 80 new licences for banks, management companies, alternative asset managers, insurers and investment firms in 2018.This included several financial institutions that had publicly announced their decision to relocate some activities because of Brexit.The agency said 47 financial institutions had publicly disclosed Brexit relocation plans involving Luxembourg, half of which were asset managers.M&G and Columbia Threadneedle are among those who have announced plans to transfer assets to Luxembourg. Others have opted for Dublin. She added: “Brexit will have a significant and long-lasting impact on the financial services sector, including the insurance, retail banking and asset management sectors, in the UK, the EU, and potentially the rest of the world.”The inquiry will weigh up the pros and cons of different possible future relationships with the EU – convergence, equivalence, or divergence.“We’ll also seek to conclude whether it would be in the long-term interests of the UK to align closely with EU financial rules, or to forgo financial services trade with the EU and pursue trade with other third countries,” said Morgan.The committee would also consider “the opportunities outside Brexit”, such as fintech, she added.There is no set deadline for submitting written evidence to the inquiry. Luxembourg regulator issues Brexit delegation reminder
Roberto Mancini has blasted goalkeeper Joe Hart after the Manchester City goalkeeper criticised his team-mates in the aftermath of their 3-2 defeat to Real Madrid on Tuesday evening.The City No. 1, who was visibly angered by the late defeat, claimed it was “not on” after his side’s defeat to the Spanish champions.And despite Mancini broadly agreeing that the whole team were to blame rather than just his goalkeeper, the Italian said he was the only person who should be openly criticising his team.“Joe Hart should stay in goal and make saves,” a frustrated Mancini told reporters after the game.“If anyone should criticise the team it should be me, not Joe Hart. I am the judge, not Joe Hart.”City looked set for a memorable win at the Santiago Bernabeu after an Aleksandar Kolarov free kick five minutes from time edged them ahead. However, strikes from Karim Benzema and Cristiano Ronaldo – which seemed to deceive Hart – meant the English side returned home pointless from their first Champions League game of the season.Despite being downhearted after the clash, Mancini insisted that, although it was not the start his side wanted to this season’s European campaign, there was no need to get carried away.“We should be disappointed that we have lost this point but we can improve,” he said.“Other teams will lose here. We have five games and it is important that we beat Dortmund in the next game. It will be difficult because Dortmund are a top team.”