A connection between tax rate and economic growth cannot be established. This is the result of a new study under the heading "Do higher tax ratios result in lower economic growth?" which AK Vienna presented this week in Brussels. The results of the analysis were supported by Univ. Prof. Brigitte Unger and Gerhard Huemer, Director of UEAPME, European Association of Craft, Small and Medium-sized Enterprises. The representative of the Commission, Jean-Pierre de Laet, also acknowledge the results of the study, but sees - even if differentiated - an influence of the tax ratio on economic growth.

Great attention was paid to a conference of the Social Democrats in the European Parliament, which focussed on the inclusion of human rights in the EU trade policy.

This week, the European Commission presented in Brussels its ideas for new stricter rules for auditors. Similar to the rating agencies, in particular the large accountancy firms have become the centre of attention because they have given the banks a clean bill of health, in spite of considerable losses. This is about to change.

The 2010 Nobel economics prize was this week awarded to two Americans and a British-Cypriot. The winners have made significant contributions to the understanding of the labour market. Their research looked into why unemployment remains high even at times when there are large number of job vacancies.

Presentation of Christian Prantner on the occasion of the panel discussion "Lessons from the Financial Crisis: Strengthening Consumer Protection in Financial Services" by AK EUROPA and ÖGB Europabüro on the 09th of February 2011 in Brussels.

This week, the liberal MEP Diana Wallis and Commissioner Maroš Šefčovic, responsible for Inter-institutional Relations and Administration invited to an Information Seminar at the European Parliament (EP). Presented were the first concrete results, which were agreed by a working group for a joint lobby register made up by EP and Commission.

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.

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.