This week, the European Parliament (EP) debated a cost-benefit study on extending maternity leave from 14 to 18 and 20 weeks respectively. The current EU law provides for 14 weeks. The EU Commission wants to extend maternity leave to 18 weeks; the European Parliament even demands 20 weeks. The study shall give the discussion new impetus - things seem to have to come to a standstill over the past months.

In 2009, about € 1.3 billion of the EU budget were spent on the Austrian agricultural sector. This accounts for almost 72 percent of the subsidies, Austria received from the EU budget last year. A particular role within the agricultural sector is played by the so-called rural development, which originally was not supposed to only benefit farmers, but which among others was also intended to increase the quality of life of the rural population.

From the point of view of the employees, the introduction of the European Citizens‘ Initiative (ECI) represents one of the most important innovations of the Treaty of Lisbon. The ECI has the potential to reduce the often diagnosed gulf between the EU and its citizens. In an overall evaluation of the Treaty of Lisbon, the AK too regards its introduction as an important criterion for endorsing the new primary legislation structure of the EU.

In view of the extremely euphoric expectations on the performance of the so-called smart meter, the AK is very sceptical whether these can be fulfilled. This scepticism is fuelled by the expected costs associated with its introduction and operation; as it stands, figures of 1.8 billion Euros have been named for Austria. At national level, a wide range of institutions have already prepared cost-benefit-analyses, some of which seem to indicate very high energy saving potentials.

Viviane Reding, the responsible EU Commissioner for Justice, Fundamental Rights and Citizenship this week presented the new strategy for equality between women and men. It represents the working programme of the EU Commission for promoting equality between women and men for the next five years.

EU Parliament agrees to new financial supervisory authority at European level. In future, it will control banks, financial markets and the insurance industry.

On Wednesday, the European Parliament (EP) voted by an overwhelming majority for the overhaul of the European financial supervisory authority, which will serve as an effective instrument for the early identification of future risks and for a common approach to  crisis prevention.

Two weeks ago, Banking Supervisors and Governors of National Banks from 27 countries put together the so-called Basel III package. This package includes a bundle of measures aimed at the stricter regulation of banks to ensure long-term financial market stability. In future, higher capital and liquidity requirements shall also prevent financial institutes from shifting losses to the state and thereby to the taxpayer. According to experts, this time the USA will also be on board.

A public hearing of the European Commission in Brussels this week was concerned with experiences made so far with the deregulation of stock markets, whereby the dogma of deregulated markets was quietly buried. The Commission also showed a willingness to learn in respect of regulating the commodity markets; however, once again significantly later than the USA.

The European Commission intends to present a Communication, which will inform about the Commission's vision on the future of public services before the end of the year. Therefore, representatives of the European Parliament, the Commission, the Belgian Presidency and civil society recently discussed which rules should apply to services of general interest.

Two years after the collapse of the fourth-largest US investment bank Lehman Brothers, the Commission this week presented in Brussels two cornerstones of its ideas on regulating the financial markets. Off-exchange derivatives, short selling and credit default swaps are to be reigned in at last.