Yesterday, the Irish Council Presidency, Commission President Barroso and European Parliament President Schulz surprisingly reached agreement on the EU Budgets for 2014 to 2020. Having agreed on a payment volume of over 908 billion Euros over a period of seven years, the Council got exactly what it wanted. In contrast, the European Parliament completely lost its credibility during the negotiations on the EU Financial Framework - instead of the 5 % increase the Parliament had demanded, the EU Budget has been cut by 5 %.

On Wednesday this week, Commissioner Barnier presented a first proposal for an investment fund, which shall make it easier for investors to make long-term investments in companies and infrastructure projects. These European Long-Term Investment Funds (ELTIF) help to invest in companies, which require funds over a longer period. This proposal is based on a consultation process, which was initiated at the end of March by a Green Paper on the long-term financing of the European economy.

On time for the start of the holiday season, the Commission is starting a campaign on passenger rights. Whether travelling by plane, rail, bus or ship: passengers have certain rights in respect of irregularities such as delays or lost luggage. However, according to the Commission two thirds of all travellers are unfortunately not aware, which rights they are able to assert on their travels.

In view of the increasing threat to the data protection interests of consumers and employees, the development of data protection in Europe is a of utmost concern to the Austrian Federal Chamber of Labour (BAK).

Wednesday evening, the Council announced an agreement with the European Parliament on the EU Budgets for the years 2014-2020. The fly in the ointment: the negotiating team of the European Parliament had not agreed to the proposals of the Irish Presidency. The MEPs participating in the meeting of the Committee on Budgets were appalled by the approach of the Council and spoke of misleading the public and manipulating the media.

A few weeks ago the European Commission let it be known that there are plans to conclude a bilateral Investment Agreement with China. Both, the European Parliament and the Council now have to agree to the opening of negotiations. In respect of Taiwan, negotiations are planned on the trade relations with the EU.

The BAK welcomes the initiative of the EU-Commission to introduce a harmonized framework for collecting societies in order to achieve transparency and improve their management and supervision bringing about at least minimal harmonisation in this complex legal area.

European consumer organisations have been demanding a legal framework to introduce class action for years. Collective redress shall make things easier for claimants: if for example, several consumers have suffered the same damage by a service or product supplied by a company, they can take class action rather than having to bring individual lawsuits. Such a legal instrument would significantly increase the pressure on companies with dubious business practices.

This week, the European Parliament adopted new rules to improve the safety of workers who are exposed to electromagnetic fields. The legislative text, which had been already informally agreed with the Council, contains new international limits; however, it also allows branch-specific exceptions, such as the use of the magnetic resonance technique in the medical sector. Employers are obliged to assess and to reduce risks.

Presenting a proposal on starting negotiations with the United States on a Free Trade Agreement, the Commission once again angered the civil society. The latter fears that this Agreement could lead to retrograde steps with regard to employment rights, consumer and environmental standards and in respect of the provision of public goods.