### net revenue generated after completion of an operation over a specific reference period shall be determined in advance by one of the following methods : ### net revenue generated after completion of an operation over a specific reference period shall be determined in advance by :


### where appropriate , the contribution of the planned interventions towards macro regional strategies and sea basin strategies ; ### where appropriate , the contribution of the planned interventions towards macro regional strategies and sea and river basin strategies and synergies ;


### to ensure transparency and properly inform eu citizens and market operators , the competent authorities should set up a common website to publish non confidential information on the incidents and risks . ### to ensure transparency and properly inform eu citizens and market operators , the competent authorities should set up a common website to publish , promptly , comprehensive non confidential information on the incidents and risks .


### operator of critical infrastructure that are essential for the maintenance of vital economic and societal activities in the fields of energy , transport , banking , stock exchanges and health , a non - exhaustive list of which is set out in annex ii . ### operator of critical infrastructure that are essential for the maintenance of vital societal and economic activities in the fields of energy , transport , banking , stock exchanges and health , a non - exhaustive list of which is set out in annex ii .


### the national nis strategy and the national nis cooperation plan shall be communicated to the commission within one month from their adoption . ### the national nis strategy and the national nis cooperation plan shall be communicated to the commission , the committee responsible at the european parliament and the european data protection supervisor within one month from their adoption .


### the competent authorities shall consult and cooperate , whenever appropriate , with the relevant law enforcement national authorities and data protection authorities . ### the competent authorities shall consult and cooperate closely with the competent law enforcement national authorities and data protection authorities .


### each member state shall set up a computer emergency response team responsible for handling incidents and risks according to a well - defined process , which shall comply with the requirements set out in point of annex i . a cert may be established within the competent authority . ### each member state shall set up a computer emergency response team responsible for handling incidents and risks according to a well - defined process , which shall comply with the requirements set out in point of annex i . a cert shall be established within the competent authority .


### without prejudice to the possibility for the cooperation network to have informal international cooperation , the union may conclude international agreements with third countries or international organisations allowing and organizing their participation in some activities of the cooperation network . such agreement shall take into account the need to ensure adequate protection of the personal data circulating on the cooperation network . ### without prejudice to the scope open to the cooperation network , the union may conclude international agreements with third countries or international organisations allowing and organizing their participation in some activities of the cooperation network . such agreement must provide for a high level of protection of the personal data circulating on the cooperation network .


### member states shall ensure that public administrations and market operators take appropriate technical and organisational measures to manage the risks posed to the security of the networks and information systems which they control and use in their operations . having regard to the state of the art , these measures shall guarantee a level of security appropriate to the risk presented . in particular , measures shall be taken to prevent and minimise the impact of incidents affecting their network and information system on the core services they provide and thus ensure the continuity of the services underpinned by those networks and information systems . ### member states shall ensure that public administrations and market operators take appropriate technical and organisational measures to limit the risks posed to the security of the networks and information systems which they control and use in their operations . having regard to the state of the art , these measures shall guarantee a level of security appropriate to the risk presented . in particular , measures shall be taken to prevent and minimise the impact of incidents affecting their network and information system on the core services they provide and thus ensure the continuity of the services and security of the data underpinned by those networks and information systems .


### member states shall ensure that the competent authorities have all the powers necessary to investigate cases of non - compliance of public administrations or market operators with their obligations under article 14 and the effects thereof on the security of networks and information systems . ### member states shall ensure that the competent authorities have the powers necessary to investigate cases of non - compliance of public administrations or market operators with their obligations under article 14 and the effects thereof on the security of networks and information systems .


### the competent authorities shall work in close cooperation with personal data protection authorities when addressing incidents resulting in personal data breaches . ### the competent authorities shall work in close cooperation with personal data protection authorities when addressing security incidents relating to personal data .


### the commission shall periodically review the functioning of this directive and report to the european parliament and the council . the first report shall be submitted no later than three years after the date of transposition referred to in article 21 . for this purpose , the commission may request member states to provide information without undue delay . ### the commission shall periodically review the functioning of this directive and report to the european parliament and the council . the first report shall be submitted no later than two years after the date of transposition referred to in article 21 . for this purpose , the commission may request member states to provide information without undue delay .


### this regulation applies to the processing of personal data wholly or partly by automated means , and to the processing other than by automated means of personal data which form part of a filing system or are intended to form part of a filing system . ### this regulation applies to the processing of personal data wholly or partly by automated means , without discrimination of the technology used , and to the processing other than by automated means of personal data which form part of a filing system or are intended to form part of a filing system .


### the data subject has given consent to the processing of their personal data for one or more specific purposes ; ### the data subject has given explicit and informed consent to the processing of their personal data for one or more specific purposes ;


### processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller ; ### processing is necessary for the performance of a task carried out in the exercise of official authority vested in the controller ; or in the public interest ,


### the controller shall have transparent and easily accessible policies with regard to the processing of personal data and for the exercise of data subjects ' rights . ### the controller shall have transparent policies with regard to the processing of personal data and for the exercise of data subjects ' rights and on request for this purpose shall provide to everybody the information set out in points through of article 28 in an appropriate manner .


### where the personal data are not collected from the data subject , the controller shall inform the data subject , in addition to the information referred to in paragraph 1 , from which source the personal data originate . ### where the personal data are not collected from the data subject , the controller shall inform the data subject , in addition to the information referred to in paragraph 1 , from which source the personal data originate . this would include data sourced from a third party illegally and passed on to the controller .


### where the personal data are not collected from the data subject , the controller shall inform the data subject , in addition to the information referred to in paragraph 1 , from which source the personal data originate . ### where the personal data are not collected from the data subject , the controller shall inform the data subject as far as possible , in addition to the information referred to in paragraph 1 , from which source the personal data originate .


### the data subject shall have the right , where personal data are processed by electronic means and in a structured and commonly used format , to obtain from the controller a copy of data undergoing processing in an electronic and structured format which is commonly used and allows for further use by the data subject . ### without prejudice to the obligation in article 5 to delete data when they are no longer necessary , the data subject shall have the right , where personal data are processed by electronic means and in a structured and commonly used format , to obtain , by request , from the controller a copy of data undergoing processing in an electronic and structured format which is commonly used and allows for further use by the data subject .


### when the personal data breach is likely to adversely affect the protection of the personal data or privacy of the data subject , the controller shall , after the notification referred to in article 31 , communicate the personal data breach to the data subject without undue delay . ### when the personal data breach is likely to adversely affect the protection of the personal data or privacy of the data subject , the controller shall , after the notification referred to in article 31 , communicate the personal data breach to the data subject without undue delay . a breach should be considered as adversely affecting the personal data or privacy of a data subject where it could result in , for example , identity theft or fraud , physical harm , significant humiliation or damage to reputation .


### the communication to the data subject referred to in paragraph 1 shall describe the nature of the personal data breach and contain at least the information and the recommendations provided for in points and of article 31 . ### the communication to the data subject referred to in paragraph 1 shall be comprehensive , clear and understandable by any individual and shall describe the nature of the personal data breach and contain at least the information and the recommendations provided for in points , and of article 31 .


### to inform and advise the controller or the processor of their obligations pursuant to this regulation and to document this activity and the responses received ; ### to raise awareness , to inform and advise the controller or the processor of their obligations pursuant to this regulation and to document this activity and the responses received ;


### any supervisory authority or the european data protection board may request that any matter shall be dealt with in the consistency mechanism , in particular where a supervisory authority does not submit a draft measure referred to in paragraph 2 or does not comply with the obligations for mutual assistance in accordance with article 55 or for joint operations in accordance with article 56 . ### any supervisory authority or the european data protection board may request that any matter shall be dealt with in the consistency mechanism , in particular where the competent authority does not submit a draft measure referred to in paragraph 2 or does not comply with the obligations for mutual assistance in accordance with article 55 or for joint operations in accordance with article 56 .


### proceedings against a controller or a processor shall be brought before the courts of the member state where the controller or processor has an establishment . alternatively , such proceedings may be brought before the courts of the member state where the data subject has its habitual residence , unless the controller is a public authority acting in the exercise of its public powers . ### proceedings against a controller or a processor shall be brought before the courts of the member state where the controller or processor has an establishment . alternatively , such proceedings may be brought before the courts of the member state where the data subject has its habitual residence , unless the controller is a public authority acting in the exercise of its public powers . the derogation does not apply to a public authority of a third country .


### any body , organisation or association referred to in article 73 shall have the right to exercise the rights referred to in articles 74 and 75 on behalf of one or more data subjects . ### any body , organisation or association referred to in article 73 shall have the right to exercise the rights referred to in articles 74 on behalf of one or more data subjects . claims according to article 77 may not be exercised by bodies , organisations or associations within the meaning of article 73 .


### within the limits of this regulation , member states may adopt by law specific rules regulating the processing of employees ' personal data in the employment context , in particular for the purposes of the recruitment , the performance of the contract of employment , including discharge of obligations laid down by law or by collective agreements , management , planning and organisation of work , health and safety at work , and for the purposes of the exercise and enjoyment , on an individual or collective basis , of rights and benefits related to employment , and for the purpose of the termination of the employment relationship . ### without prejudice to this regulation , member states may adopt by law specific rules regulating the processing of employees ' personal data in the employment context , in particular for the purposes of the recruitment , the performance of the contract of employment , including discharge of obligations laid down by law or by collective agreements , management , planning and organisation of work , health and safety at work , and for the purposes of the exercise and enjoyment , on an individual or collective basis , of rights and benefits related to employment , and for the purpose of the termination of the employment relationship .


### within the limits of this regulation , personal data may be processed for historical , statistical or scientific research purposes only if : ### within the limits of this regulation member states shall adopt regulations on the processing of personal data for historical , statistical or scientific research purposes . each member state shall notify to the commission those provisions of its law which it adopts pursuant to this paragraph and any subsequent amendment affecting them .


### within the limits of this regulation , personal data may be processed for historical , statistical or scientific research purposes only if : ### without prejudice to this regulation , personal data may be processed for historical , statistical or scientific research purposes only if :


### article 1 of directive 2002 / 58 / ec shall be deleted . ### article 1 of directive 2002 / 58 / ec shall be deleted . the remainder of directive 2002 / 58 / ec shall remain unaffected .


### draft legislative resolution ### recalls its resolution of 8 june 2011 on investing in the future : a new multiannual financial framework for a competitive , sustainable and inclusive europe1 ; reiterates that sufficient additional resources are needed in the next mff in order to enable the union to fulfil its existing policy priorities and the new tasks provided for in the treaty of lisbon , as well as to respond to unforeseen events ; points out that even with an increase in the level of resources for the next mff of at least 5% compared to the 2013 level only a limited contribution can be made to the achievement of the union ' s agreed objectives and commitments , and to the principle of union solidarity ; challenges the council , if it does not share this approach , to clearly identify which of its political priorities or projects could be dropped altogether , despite their proven european added value ; _______________ 1 texts adopted , p7_ta0266 .


### within the framework of sustainable urban development , it is considered necessary to support integrated actions to tackle the economic , environmental , climate and social challenges affecting urban areas and to define a procedure to establish the list of cities covered by such actions and the financial allocation set aside for such actions . ### in its resolution of 8 june 2011 , the european parliament expressed its belief that urban areas - as places with a high concentration of challenges - can play an important role in regional development and contribute to tackling economic and social disparities on the ground . accordingly , , it stressed the necessity for a more visible and focused approach to the urban dimension of cohesion policy , while ensuring balanced conditions for synergic development of urban , suburban and rural areas . within the framework of sustainable urban development , it is thus considered necessary to support integrated actions to tackle the economic , environmental , climate and social challenges affecting urban areas and to define a procedure to establish the list of cities covered by such actions and the financial allocation set aside for such actions .


### specific attention should be paid to the outermost regions , namely by extending , on an exceptional basis , the scope of the erdf to the financing of operating aid linked to the offsetting of the additional costs resulting from their specific economic and social situation , which is compounded by the handicaps resulting from the factors referred to in article 349 of the treaty , namely their remoteness , insularity , small size , difficult topography and climate and their economic dependence on a few products , the permanence and combination of which severely restrain their development . in order to support the development of existing and new economic activities , at least 50% of the specific additional allocation should be allocated to actions contributing to the diversification and modernisation of the economies of the outermost regions . ### specific attention should be paid to the outermost regions , namely by extending , on an exceptional basis , the scope of the erdf to the financing of operating aid linked to the offsetting of the additional costs resulting from their specific economic and social situation , which is compounded by the handicaps resulting from the factors referred to in article 349 of the treaty , namely their remoteness , insularity , small size , difficult topography and climate and their economic dependence on a few products , the permanence and combination of which severely restrain their development . in order to support the development of existing and new economic activities , at least 50% of the specific additional allocation should be allocated to actions contributing to the diversification and modernisation of the economies of the outermost regions . in particular , synergies should be facilitated between the erdf and the framework programme for research and development , in order to increase the development of the outermost regions and curb the under - utilisation of research funds .


### the erdf shall support the following investment priorities within the thematic objectives set out in article 9 of regulation no [ … ] / 2012 [ cpr ] : ### the erdf shall support the following investment priorities within the thematic objectives set out in article 9 of regulation no [ … ] / 2012 [ cpr ] while ensuring synergies and complementarities with relevant union programmes and instruments :


### with the aim of maintaining strong protection of rights in designations of origin and geographical indications protected at union level , it is necessary to clarify that those rights entitle to bring an opposition against the registration of a later european trade mark , regardless of whether or not they are also grounds for refusal to be taken into account ex officio by the examiner . ### with the aim of maintaining strong protection of rights in designations of origin and geographical indications protected at union level , it is necessary to clarify that those rights entitle to bring an opposition against the registration of a later european trade mark , regardless of whether or not they are also grounds for refusal to be taken into account ex officio by the examiner . since union legislation exists only concerning the protection of geographical indications of agricultural products and foodstuff , wine and spirits , the commission should adopt a proposal for a regulation harmonising member states ' rules on the protection of geographical indications also for goods other than agricultural and foodstuffs , wine and spirits .


### the proprietor of a european trade mark shall also be entitled to prevent all third parties from bringing goods , in the context of commercial activity , into the customs territory of the union without being released for free circulation there , where such goods , including packaging , come from third countries and bear without authorization a trade mark which is identical to the european trade mark registered in respect of such goods , or which cannot be distinguished in its essential aspects from that trade mark . ### the proprietor of a european trade mark shall also be entitled to prevent all third parties from bringing goods , in the context of commercial activity , into the customs territory of the union without being released for free circulation there , where such goods , including packaging , come from third countries and bear without authorization a trade mark which is identical to the european trade mark registered in respect of such goods , or which cannot be distinguished in its essential aspects from that trade mark . this shall be without prejudice to the union ' s compliance with wto rules , notably with gatt article v on freedom of transit .


### volunteering is a concrete and visible expression of solidarity allowing individuals to dedicate their knowledge , skills and time to the service of fellow human beings , without a primary concern for financial gain . ### volunteering is a concrete and visible expression of solidarity allowing individuals to dedicate their knowledge , skills , experience and time to the service of fellow human beings , without a primary concern for financial gain but as a wish to cope with additional humanitarian needs emerging in humanitarian crises , both man - made and natural disasters .


### the union ' s vision of humanitarian aid , including a common objective , principles and good practice and a common framework to deliver the union ' s humanitarian aid , is set out in the ‘ european consensus on humanitarian aid’14 . the european consensus underlines the union ' s firm commitment to upholding and promoting the fundamental humanitarian principles of humanity , neutrality , impartiality and independence . the actions of the european voluntary humanitarian aid corps should be guided by the european consensus on humanitarian aid . ### the union ' s vision of humanitarian aid , including a common objective , principles and good practice and a common framework to deliver the union ' s humanitarian aid , is set out in the ‘ european consensus on humanitarian aid’14 . there is a need to raise both awareness levels and its visibility among union ' s citizens because european humanitarian aid is often overshadowed by that of other international organisations . the european consensus underlines the union ' s firm commitment to upholding and promoting the fundamental humanitarian principles of humanity , neutrality , impartiality and independence . the actions of the european voluntary humanitarian aid corps should be guided by the european consensus on humanitarian aid .


### the number , scope and complexity of humanitarian crises worldwide have increased significantly over the years leading to a rising demand on humanitarian actors to provide an effective , efficient and coherent response and to support third country local communities in order to make them less vulnerable and to strengthen their resilience to disasters . ### the number , scope and complexity of humanitarian crises worldwide both natural and man - made have increased significantly over the years and this trend is unfortunately likely to continue leading to a rising demand on humanitarian actors to provide an immediate , effective , efficient and coherent response and to support third country local communities in order to make them less vulnerable and to strengthen their resilience to disasters .


### volunteering schemes exist in europe and worldwide focusing on third country deployment . these are often national schemes which focus mainly or exclusively on development projects . the eu aid volunteers should , therefore , avoid duplication and should add value by providing opportunities to volunteers to jointly contribute to humanitarian aid operations thus reinforcing active european union citizenship and by fostering transnational cooperation of implementing organisations participating in the actions of the corps . ### volunteering schemes exist in europe and worldwide focusing on third country deployment . these are often national schemes which focus mainly or exclusively on development projects . the eu aid volunteers should , therefore , avoid duplication and should add value by providing opportunities to volunteers to jointly contribute to humanitarian aid operations thus reinforcing active european union citizenship , fostering transnational cooperation of implementing organisations participating in the actions of the corps , therefore projecting a positive image of the union in the world and fostering interest for pan european humanitarian projects .


### security and safety of the volunteers should remain of paramount importance . ### appropriate training , security and safety of the volunteers should remain of paramount importance , therefore inexperienced volunteers should not be sent to projects where security is a concern .


### volunteering in humanitarian aid could help maintain young people active , contribute to their personal development and intercultural awareness , and improve their competences and employability in global economy . it would , thus , contribute to the ‘ youth opportunities initiative’18 and to a range of other key objectives of the union such as social inclusion , employment , active citizenship , education , and skills development19 . ### volunteering in humanitarian aid could help maintain young people active , contribute to their personal development and intercultural awareness , and improve their competences and employability in global economy . it would , thus , contribute to the ‘ youth opportunities initiative’18 and to a range of other key objectives of the union such as social inclusion , employment , active citizenship , education , and skills development19 as well as in upholding volunteering as a concrete expression of european solidarity with people affected by crises , thus promoting the union ' s values and principles .


### the eu aid volunteers shall promote common activities and participation of volunteers from different countries and foster joint projects and transnational partnerships between implementing organisations as referred to in article 10 . ### the eu aid volunteers shall promote common activities , close cooperation and participation of volunteers from different countries and foster joint projects and transnational partnerships between implementing organisations as referred to in article 10 ; ensuring coordination , complementarity , coherence and cost effectiveness between the variety of existing eu voluntary schemes for crisis situations in third countries , without duplicating them .


### the eu aid volunteers shall promote common activities and participation of volunteers from different countries and foster joint projects and transnational partnerships between implementing organisations as referred to in article 10 . ### the eu aid volunteers ' initiative shall promote common activities and participation of volunteers from different countries and foster joint projects and transnational partnerships between implementing organisations as referred to in article 10 .


### an ‘ eu aid volunteer’ means a candidate volunteer that has been selected , trained , assessed as eligible and registered as available for deployment in humanitarian aid operations in third countries . ### an ‘ eu aid volunteer’ means a candidate volunteer that has been adequately selected , trained , assessed as eligible and registered as available for deployment in humanitarian aid operations in third countries .


### in implementing the regulation , coherence shall be ensured with other areas of union ' s external action and with other relevant union policies . particular attention shall be given to ensure smooth transition between relief , rehabilitation and development . ### in implementing the regulation , coordination , complementarity and coherence shall be ensured with other areas of union ' s external action and with other relevant union policies . particular attention shall be given to ensure smooth transition between relief , rehabilitation and development .


### – the number of volunteers trained and the quality of the training on the basis of the reviews and level of satisfaction ; ### – the number of volunteers trained and the quality of the training on the basis of the reviews and level of satisfaction and performance ;


### enhancement of coherence and consistency of volunteering across member states in order to improve opportunities for union citizens to participate in humanitarian aid activities and operations . progress towards the achievement of this operational objective shall be assessed on the basis of indicators , such as : ### enhancement of coherence , consistency and reliability of volunteering across member states in order to improve opportunities for union citizens to participate in humanitarian aid activities and operations . progress towards the achievement of this operational objective shall be assessed on the basis of indicators , such as :


### the eu aid volunteers shall pursue the objectives referred to in articles 3 and 7 through the following types of actions : ### the eu aid volunteers ' initiative shall pursue the objectives referred to in articles 3 and 7 through the following types of actions :


### these standards shall ensure duty of care and cover notably the responsibilities of the sending and hosting organisations , minimum requirements on the coverage of subsistence , accommodation and other relevant expenses , insurance coverage , security procedures and other relevant elements . ### these standards shall ensure duty of care and cover notably the responsibilities of the sending and hosting organisations , the supervision , ongoing training and management of the volunteers , minimum requirements on the coverage of subsistence , accommodation and other relevant expenses , insurance coverage , security procedures and other relevant elements .


### the commission shall establish a training programme in order to prepare the candidate volunteers for undertaking humanitarian activities and for deployment in humanitarian aid operations . ### the commission shall establish a training programme in order to prepare the candidate volunteers for undertaking humanitarian activities and for deployment in humanitarian aid operations , notably by providing necessary background information on the union ' s role and values regarding humanitarian issues .


### the training programme shall include an assessment of the candidate volunteers ' readiness to be deployed in humanitarian aid operations . ### the training programme shall include an assessment of the candidate volunteers ' readiness to be deployed in humanitarian aid operations and to ensure security and safety when deployed .


### the commission shall establish , maintain and update the register and shall regulate the access and the use of it . ### the commission shall establish , maintain and update the register , notably by keeping track of the number of volunteers deployed in countries hit by disasters and shall regulate the access and the use of it .


### sending organisations deploying volunteers in operations outside the union shall be responsible for the monitoring of their activities and shall submit to the commission monitoring reports on a regular basis . ### sending organisations deploying volunteers in operations outside the union shall be responsible for the monitoring of their activities and shall submit to the commission monitoring reports on a regular basis safeguarding all rights of individual volunteers regarding personal data protection .


### in carrying out its activities in the southern and eastern mediterranean region , the ebrd should be encouraged to continue its close engagement with the eu and to develop a close cooperation with the eib and other european and international public financing institutions . ### in carrying out its activities in the southern and eastern mediterranean region , the ebrd should be encouraged to continue its close engagement with the eu and to develop a close cooperation with the eib and other european and international public financing institutions in order to make full use of their comparative advantages . the ebrd should also avoid duplicating the activities of those other public financing institutions .


### pursuant to resolution 126 on increase in authorised capital stock , issuance of paid - in shares , and payment through reallocation of net income , the authorised capital stock of the ebrd is increased by 100 000 paid - in shares , and each member is issued a number of whole shares , rounded downwards , pro rata to their existing shareholding . the paid - in part of the capital increase will be paid through integration in the capital of part of the ebrd ' s unrestricted general reserves . all ebrd shareholders will automatically receive paid - in shares in proportion of their existing shareholding , without any further procedural steps to be taken by the shareholders themselves . accordingly , the eu is issued 3 031 new shares , each share having a par value of eur 10 000 increasing the number of paid - in shares of the eu to 63 031 . ### pursuant to resolution 126 on increase in authorised capital stock , issuance of paid - in shares , and payment through reallocation of net income , the authorised capital stock of the ebrd is increased by 100 000 paid - in shares , and each member is issued a number of whole shares , rounded downwards , pro rata to their existing shareholding . the paid - in part of the capital increase will be paid through integration in the capital of part of the ebrd ' s unrestricted general reserves . this decision thus has no direct impact on the budget of the european union . all ebrd shareholders will automatically receive paid - in shares in proportion of their existing shareholding , without any further procedural steps to be taken by the shareholders themselves . accordingly , the eu is issued 3 031 new shares , each share having a par value of eur 10 000 increasing the number of paid - in shares of the eu to 63 031 .


### it is appropriate for the european union to subscribe to those additional shares in order to achieve the european union ' s objectives in the field of economic external relations and preserve its relative voting power within the ebrd . ### this decision provides the opportunity for the ebrd to increase its activities in the countries of operation , thus providing valuable assistance to the economies of those countries in times of restricted capital availability . it is appropriate for the european union to subscribe to those additional shares in order to achieve the european union ' s objectives in the field of economic external relations and preserve its relative voting power within the ebrd . the governor of the ebrd for the european union should , however , suggest that the board of governors consider the possibility of rebalancing the level of shareholder equity relative to loans and other investments in order to decrease the impact of the equity valuation on the ebrd ' s balance sheet . the governor of the ebrd for the european union should also support the further development of financial instruments , based on co - financing between the eu budget and that of the ebrd , supporting the achievement of the eu objectives , while taking into account that such cooperation should be accompanied by better control and visibility of eu public funds .


### a european microfinance facility for employment and social inclusion , called the progress microfinance facility , is hereby established . ### a european microfinance facility for employment and social inclusion , called the european progress microfinance facility , is hereby established .


### the financial contribution from the community budget for the facility for the period from 1 january 2010 to 31 december 2013 shall be eur 100 million . ### the financial contribution from the community budget for the facility for the period from 1 january 2010 to 31 december 2013 shall be eur 150&#160 ; 000&#160 ; 000 .


### the financial contribution shall cover the full cost of the facility , including management fees for international financial institutions referred to in article 5 managing the community contribution as well as any other eligible costs . ### the financial contribution shall cover the full cost of the facility , including management fees for international financial institutions referred to in article 5 managing the community contribution , as well as the cost of technical assistance for those public and private bodies providing microfinance referred to in article 4 and any other eligible costs .


### proposal for a regulation of the european parliament and of the council on the prevention and correction of macroeconomic imbalances ### proposal for a regulation of the european parliament and of the council on the prevention and correction of macroeconomic and social imbalances


### there is a need to build upon the experience gained during the first decade of functioning of economic and monetary union . ### there is a need to build upon the experience gained during the first decade of functioning of the economic and monetary union regarding macroeconomic and social imbalances .


### it is appropriate to supplement the multilateral surveillance referred to in article 121 and of the treaty with specific rules for detection , prevention and correction of macroeconomic imbalances . ### it is appropriate to complement the multilateral surveillance referred to in article 121 and tfeu with specific rules for detection , prevention and correction of macroeconomic imbalances that include incentives as well as fines .


### this procedure should rely on an alert mechanism for early detection of emerging macroeconomic imbalances . it should be based on use of an indicative and transparent scoreboard combined with economic judgment . ### this procedure should rely on an alert mechanism for early detection of emerging macroeconomic and social imbalances . it should be based on use of an indicative and transparent scoreboard combined with economic and social judgment , particularly in relation to competitiveness , convergence and solidarity .


### the scoreboard should consist of a limited set of economic and financial indicators relevant to detection of macroeconomic imbalances , with corresponding indicative thresholds . the composition of the scoreboard may evolve in time , inter alia due to evolving threats to macroeconomic stability or enhanced availability of relevant statistics . ### in order for the scoreboard to function efficiently as the basis for improved surveillance of macroeconomics , the scoreboard should consist of a limited set of economic and financial indicators relevant to detection of macroeconomic imbalances , with corresponding indicative thresholds . symmetry in the interpretation of numerical thresholds means that excessive positive or negative values as well as divergent evolutions of similar indicators across member states shall trigger a closer review . the composition of the scoreboard should evolve over time so as to adapt to the changing nature of macroeconomic imbalances , inter alia due to evolving threats to macroeconomic stability or enhanced availability of relevant statistics .


### the scoreboard should consist of a limited set of economic and financial indicators relevant to detection of macroeconomic imbalances , with corresponding indicative thresholds . the composition of the scoreboard may evolve in time , inter alia due to evolving threats to macroeconomic stability or enhanced availability of relevant statistics . ### the scoreboard should consist of a limited set of real and nominal economic , social and financial indicators relevant to competitiveness and the detection of macroeconomic and social imbalances , with corresponding indicative thresholds . the composition of the scoreboard should be amended by way of delegated acts , if needed , inter alia due to evolving threats to macroeconomic and social stability or enhanced availability of relevant statistics .


### the crossing of one or more indicative thresholds need not necessarily imply that macroeconomic imbalances are emerging , as economic policy - making should take into account inter - linkages between macroeconomic variables . economic judgment should ensure that all pieces of information , whether from the scoreboard or not , are put in perspective and become part of a comprehensive analysis . ### the crossing of one or more indicative threshold need not necessarily imply that macroeconomic imbalances are emerging , as economic policy - making should take into account inter - linkages between macroeconomic variables . conclusions should not be drawn from an automatic reading of the scoreboard : economic judgment should ensure that all pieces of information , whether from the scoreboard or not , are put in perspective and become part of a comprehensive analysis .


### the crossing of one or more indicative thresholds need not necessarily imply that macroeconomic imbalances are emerging , as economic policy - making should take into account inter - linkages between macroeconomic variables . economic judgment should ensure that all pieces of information , whether from the scoreboard or not , are put in perspective and become part of a comprehensive analysis . ### the crossing of one or more indicative thresholds need not necessarily imply that macroeconomic or social imbalances are emerging , as economic policy - making should take into account inter - linkages between macroeconomic and social variables as well as the moment of a particular economy ' s economic cycle . economic judgment should ensure that all pieces of information , whether from the scoreboard or not , are put in perspective and become part of a comprehensive analysis .


### based on the multilateral surveillance procedure and the alert mechanism , the commission should identify the member states to be subject to an in - depth review . the in - depth review should encompass a thorough analysis of sources of imbalances in the member state under review . it should be discussed within the council and the euro group for the member states whose currency is the euro . ### based on the multilateral surveillance procedure and the alert mechanism , the commission should prepare an in depth review for all member states , by way of preliminary assessment . the in - depth review should encompass a thorough analysis of the causes of possible external and internal imbalances , for member states with a surplus or a deficit alike ; and the capacity of the member state under review to resolve them if such imbalances have been evidenced in one way or the other . an in - depth review should be seen as a standard procedure in the diagnosis phase .


### a procedure to monitor and correct adverse macroeconomic imbalances , with preventive and corrective elements , will require enhanced surveillance tools based on those used in the multilateral surveillance procedure . this may include enhanced surveillance missions by the commission to member states and additional reporting by the member state in case of severe imbalances , including imbalances that jeopardise the proper functioning of the economic and monetary union . ### a procedure to monitor and correct adverse macroeconomic imbalances , with preventive and corrective elements , will require enhanced surveillance tools based on those used in the multilateral surveillance procedure . this may include enhanced surveillance missions by the commission to member states and additional reporting by the member state in case of severe imbalances , including imbalances that jeopardise the proper functioning of the economic and monetary union . since these missions should aim at getting a broad and balanced picture of the macroeconomic situation , social partners and other national stakeholders should be actively engaged in the dialogue .


### a procedure to monitor and correct adverse macroeconomic imbalances , with preventive and corrective elements , will require enhanced surveillance tools based on those used in the multilateral surveillance procedure . this may include enhanced surveillance missions by the commission to member states and additional reporting by the member state in case of severe imbalances , including imbalances that jeopardise the proper functioning of the economic and monetary union . ### a procedure to monitor and correct adverse macroeconomic and social imbalances , with preventive and corrective elements , will require enhanced surveillance tools based on those used in the multilateral surveillance procedure and analysing the impact of employment on the macro - economic situation based on the joint assessment framework including the employment performance monitor . this may include enhanced surveillance missions by the commission to member states and additional reporting by the member state in case of severe imbalances , including imbalances that jeopardise the proper functioning of the economic and monetary union or social cohesion .


### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities . it should be tailored to the specific environment and circumstances of the member state concerned and cover the main economic policy areas , potentially including fiscal and wage policies , labour markets , product and services markets and financial sector regulation . ### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the recommendations should fully respect the charter of fundamental rights of the european union , article 153 of the treaty as well as the model of industrial relations , social dialogue and collective bargaining of each member state . the policy response of the member state concerned to imbalances should be timely and should use all relevant policy instruments under the control of public authorities . it should be based on a thorough dialogue with social partners and other national stakeholders and should fully take into account the restrictions that the fundamental rights of these actors place on government action . it should be tailored to the specific environment and circumstances of the member state concerned and cover the main economic policy areas , potentially including fiscal policies , labour markets , product and services markets and financial sector regulation .


### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities . it should be tailored to the specific environment and circumstances of the member state concerned and cover the main economic policy areas , potentially including fiscal and wage policies , labour markets , product and services markets and financial sector regulation . ### if macroeconomic and social imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities and involve all relevant national stakeholders . it should be tailored to the specific environment and circumstances of the member state concerned , be compatible with medium and long - term convergence and the targets included in a union strategy for growth and jobs , and cover the main economic policy areas , including fiscal and taxation policies , labour markets , product and services markets and financial sector regulation .


### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities . it should be tailored to the specific environment and circumstances of the member state concerned and cover the main economic policy areas , potentially including fiscal and wage policies , labour markets , product and services markets and financial sector regulation . ### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities and involve all relevant national stakeholders . it should be tailored to the specific environment and circumstances of the member state concerned , be compatible with medium and long - term convergence and the targets included in a union strategy for growth and jobs , and cover the main economic policy areas , potentially including fiscal and taxation policies , labour markets , product and services markets and financial sector regulation .


### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities . it should be tailored to the specific environment and circumstances of the member state concerned and cover the main economic policy areas , potentially including fiscal and wage policies , labour markets , product and services markets and financial sector regulation . ### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities and involve all relevant national stakeholders . it should be tailored to the specific environment and circumstances of the member state concerned , be compatible with medium and long - term convergence and the targets included in a union strategy for growth and jobs , and cover the main economic policy areas , potentially including fiscal and wage policies , labour markets , product and services markets and financial sector regulation .


### if macroeconomic imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities . it should be tailored to the specific environment and circumstances of the member state concerned and cover the main economic policy areas , potentially including fiscal and wage policies , labour markets , product and services markets and financial sector regulation . ### if macroeconomic and social imbalances are identified , recommendations should be addressed to the member state concerned to provide guidance on appropriate policy responses . the policy response of the member state concerned to imbalances should be timely and should use all relevant policy instruments under the control of public authorities . it should be based on a close dialogue with social partners and other national stakeholders and should fully take into account the restrictions that the fundamental rights of those actors place on government action . it should be tailored to the specific environment and circumstances of the member state concerned and cover the main economic policy areas , potentially including fiscal and taxation policies , labour markets , product and services markets and financial sector regulation . it should be undertaken in respect of article 9 tfeu , and with a view to promoting a high level of employment , the guarantee of adequate social protection and the fight against social exclusion .


### the early warnings and recommendations by the european systemic risk board to member states or the union address risks of a macrofinancial nature . these may also warrant appropriate follow - up action in the context of the surveillance of imbalances . ### the early warnings and recommendations by the european systemic risk board to member states or the union address only risks of a macrofinancial nature . these may also warrant appropriate follow - up action in the context of the surveillance of imbalances .


### if severe macroeconomic imbalances are identified , including imbalances that jeopardise the proper functioning of economic and monetary union , an excessive imbalance procedure should be initiated that may include issuing recommendations to the member state , enhanced surveillance and monitoring requirements and in respect of member states whose currency is the euro , the possibility of enforcement in accordance with regulation no [ … / … ] 4 in the event of sustained failure to take corrective action . ### if severe positive or negative macroeconomic imbalances are identified , including imbalances that jeopardise the proper functioning of economic and monetary union , or its social cohesion , an excessive imbalance procedure should be initiated that may include issuing recommendations to the member state , enhanced surveillance and monitoring requirements and in respect of member states whose currency is the euro , the possibility of enforcement in accordance with regulation no [ … / … ] 4 in the event of sustained and unjustified failure to take corrective action .


### if severe macroeconomic imbalances are identified , including imbalances that jeopardise the proper functioning of economic and monetary union , an excessive imbalance procedure should be initiated that may include issuing recommendations to the member state , enhanced surveillance and monitoring requirements and in respect of member states whose currency is the euro , the possibility of enforcement in accordance with regulation no [ … / … ] 4 in the event of sustained failure to take corrective action . ### if excessive macroeconomic imbalances are identified , including imbalances that jeopardise the proper functioning of economic and monetary union , an excessive imbalance procedure should be initiated that may include issuing recommendations to the member state , enhanced surveillance and monitoring requirements and in respect of member states whose currency is the euro , the possibility of enforcement in accordance with regulation no [ … / … ] [ 1 ] in the event of sustained failure to take corrective action . [ 1 ] oj l [ … ] , [ … ] , [ … ] .


### if severe macroeconomic imbalances are identified , including imbalances that jeopardise the proper functioning of economic and monetary union , an excessive imbalance procedure should be initiated that may include issuing recommendations to the member state , enhanced surveillance and monitoring requirements and in respect of member states whose currency is the euro , the possibility of enforcement in accordance with regulation no [ … / … ] in the event of sustained failure to take corrective action . ### if severe macroeconomic and social imbalances are identified , including imbalances that jeopardise the proper functioning of economic and monetary union or social cohesion , an excessive imbalance procedure should be initiated that may include issuing recommendations to the member state , enhanced surveillance and monitoring requirements and in respect of member states whose currency is the euro , the possibility of enforcement in accordance with regulation no [ … / … ] in the event of sustained failure to take corrective action .


### any member state placed under the excessive imbalance procedure should establish a corrective action plan setting out details of its policies designed to implement the council recommendations . the corrective action plan should include a timetable for implementation of the measures envisaged . it should be endorsed by the council on a report from the commission . ### any member state placed under the excessive imbalance procedure should establish a corrective action plan setting out details of its policies designed to implement the council recommendations . the corrective action plan should reflect the nature of the imbalances , be restricted to policy aspects under the legitimate control of government authorities and include a timetable for implementation of the measures envisaged . it should be endorsed by the council on a report from the commission .


### any member state placed under the excessive imbalance procedure should establish a corrective action plan setting out details of its policies designed to implement the council recommendations . the corrective action plan should include a timetable for implementation of the measures envisaged . it should be endorsed by the council on a report from the commission . ### any member state placed under the excessive imbalance procedure should establish a corrective action plan setting out details of its policies designed to implement the council recommendations . the corrective action plan should reflect the nature of the imbalances , be restricted to policy aspects under the legitimate control of government authorities and should include a timetable for implementation of the measures envisaged . it should be endorsed by the council on a report from the commission and after consulting the european parliament .


### since an effective framework for detection and prevention of macroeconomic imbalances cannot be sufficiently achieved by the member states because of the deep trade and financial inter - linkages between member states and the spillover effect of national economic policies on the union and the euro area as a whole and can be better achieved at union level , the union may adopt measures in accordance with the principle of subsidiarity , as set out in article 5 of the treaty on european union . in accordance with the principle of proportionality , as set out in the same article , this regulation does not go beyond what is necessary to achieve those objectives , ### since an effective framework for detection and prevention of macroeconomic and social imbalances cannot be sufficiently achieved by the member states because of the deep trade and financial inter - linkages between member states and the spillover effect of national economic policies on the union and the euro area as a whole and can be better achieved at union level , the union may adopt measures in accordance with the principle of subsidiarity , as set out in article 5 of the treaty on european union . in accordance with the principle of proportionality , as set out in that article , this regulation does not go beyond what is necessary to achieve those objectives ,


### this regulation sets out detailed rules for the detection , prevention and correction of macroeconomic imbalances within the union . ### this regulation sets out detailed rules for the detection , prevention and correction of macroeconomic and social imbalances within the union .


### ' imbalances ' means macroeconomic developments which are adversely affecting , or have the potential adversely to affect , the proper functioning of the economy of a member state or of economic and monetary union , or of the union as a whole . ### ' macroeconomic imbalances ' means persistently diverging developments between aggregate demand and aggregate supply leading to a systematic surplus or deficit in the overall savings position of an economy , persistently deteriorating competitiveness and / or social developments which are adversely affecting , or have the potential to affect adversely , the proper functioning of the economy of , or the social cohesion in a member state , the euro area , or of the union as a whole .


### ‘ excessive imbalances’ means severe imbalances , including imbalances that jeopardise the proper functioning of economic and monetary union . ### ‘ excessive imbalances’ means severe imbalances , including imbalances that jeopardise the proper functioning of economic and monetary union or social cohesion .


### the release of the updated scoreboard shall be accompanied by a commission report containing an economic and financial assessment putting the movement of the indicators into perspective , drawing if necessary on any other economic and financial indicator relevant to detection of imbalances . the report shall also indicate whether the crossing of lower or upper thresholds in one or more member states signifies the possible emergence of imbalances . ### the release of the updated values of the indicators in the scoreboard shall be accompanied by a commission report containing a sound economic and financial assessment including an assessment of the evolution of macroeconomic imbalances within the union and putting the indicators into perspective . best practices shall be taken into account . the report shall also indicate whether the crossing of lower or upper thresholds in one or more member states signifies the possible emergence of imbalances inside the member state concerned , in another member state or across the union as a whole . all the available information shall be taken into account and conclusions shall not be drawn from the scoreboard based on the indicators alone .


### taking account of the discussions in the council and the euro group , as provided for in article 4 , the commission shall prepare an in - depth review for each member state it considers affected by , or at risk of , imbalances . this assessment shall include an evaluation of whether the member state in question is affected by imbalances , and of whether these imbalances constitute excessive imbalances . ### taking account of the discussions in the council and the euro group , as provided for in article 4 , the commission shall prepare an in - depth review for each member state it considers affected by , or at risk of , imbalances . this assessment shall include an evaluation of whether the member state in question is affected by imbalances , and of whether these imbalances constitute excessive imbalances . the in - depth review should be built on a detailed investigation of a broad range of economic variables and should acknowledge the national specificities regarding industrial relations and social dialogue .


### taking account of the discussions in the council and the euro group , as provided for in article 4 , the commission shall prepare an in - depth review for each member state it considers affected by , or at risk of , imbalances . this assessment shall include an evaluation of whether the member state in question is affected by imbalances , and of whether these imbalances constitute excessive imbalances . ### taking account of the discussions in the council and the euro group , as provided for in article 4 , the commission shall prepare an in - depth review for each member state it considers affected by , or at risk of , imbalances . this assessment shall include an evaluation of whether the member state in question is affected by imbalances , and of whether these imbalances constitute excessive imbalances . the in - depth review shall be built on a detailed investigation of a broad range of economic variables and shall acknowledge the national specificities regarding industrial relations and social dialogue .


### any member state for which an excessive imbalance procedure is opened shall submit a corrective action plan to the council and the commission within a deadline to be defined in the recommendations in accordance with article 7 . the corrective action plan shall set out the specific and concrete policy actions the member state concerned has implemented or intends to implement and shall include a timetable for implementation thereof . ### any member state for which an excessive imbalance procedure is opened shall submit a corrective action plan to the council and the commission within a deadline to be defined in the recommendations in accordance with article 7 . the corrective action plan shall make use of all relevant policy instruments under the control of public authorities , taking into account the restrictions that the fundamental rights of citizens , social partners and other national stakeholders place on government action . the plan shall set out the specific and concrete policy actions the member state concerned has implemented or intends to implement and shall include a timetable for implementation thereof .


### any member state for which an excessive imbalance procedure is opened shall submit a corrective action plan to the council and the commission within a deadline to be defined in the recommendations in accordance with article 7 . the corrective action plan shall set out the specific and concrete policy actions the member state concerned has implemented or intends to implement and shall include a timetable for implementation thereof . ### any member state for which an excessive imbalance procedure is opened shall submit a corrective action plan to the council and the commission based on , and within a deadline to be defined in , the recommendations in accordance with article 7 . the corrective action plan shall set out the specific and concrete policy actions the member state concerned has implemented or intends to implement and shall include a timetable for implementation thereof .


### specification of the definitions of inside information and market manipulation is necessary to account for the specificities of wholesale energy markets , which are dynamic and subject to change . the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty in respect to such detailed rules . ### specification of the definitions of inside information and market manipulation is necessary to account for the specificities of wholesale energy markets , which are dynamic and subject to change . coherence with other relevant legal acts of the union in the field of financial services , which is also dynamic and subject to change , should be ensured to avoid regulatory gaps . the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty in respect to such detailed rules .


### specification of the definitions of inside information and market manipulation is necessary to account for the specificities of wholesale energy markets , which are dynamic and subject to change . the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty in respect to such detailed rules . ### specification of the definitions of inside information and market manipulation is necessary to account for the specificities of wholesale energy markets , which are dynamic and subject to change . the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty in respect to such detailed rules . before adopting a delegated act , the commission should request comments from energy market operators and consult the energy sector authorities as well as the european supervisory authority . the european parliament and the council should be informed of the outcome of these consultations .


### in order to ensure the necessary flexibility in collecting information on transactions in wholesale energy products , the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty setting out the timing , form and content of the information which market participant are required to provide . reporting obligations should not create unnecessary costs for market participants . persons reporting transactions to a competent authority in accordance with the provisions of directive 2004 / 39 / ec of the european parliament and of the council of 21 april 2004 on markets in financial instruments , and to trade repositories and competent authorities in accordance with the provisions of regulation . . / . . of the european parliament and the council on otc derivatives , central counterparties and trade repositories should therefore not be subject to additional reporting obligations under this regulation . ### in order to ensure the necessary flexibility in collecting information on transactions in wholesale energy products , the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty setting out the timing , form and content of the information which market participant are required to provide . reporting obligations should not create avoidable costs for market participants . persons reporting transactions to a competent authority in accordance with the provisions of directive 2004 / 39 / ec of the european parliament and of the council of 21 april 2004 on markets in financial instruments , and to trade repositories and competent authorities in accordance with the provisions of regulation . . / . . of the european parliament and the council on otc derivatives , central counterparties and trade repositories should therefore not be subject to additional reporting obligations under this regulation .


### for the purposes of applying the first subparagraph , information a reasonable market participant would be likely to use as part of the basis of his decision to enter into a transaction relating to a wholesale energy product is information which , if it were made public , would be likely to have a significant effect on the prices of such wholesale energy products . such information includes information related to the capacity of facilities for production , storage , consumption or transmission of electricity or natural gas , as well as information which is required to be disclosed in accordance with legal or regulatory provisions at union or national level , market rules , and contracts or customs on the relevant wholesale energy market . ### for the purposes of applying the first subparagraph , information a reasonable market participant would be likely to use as part of the basis of his decision to enter into a transaction relating to a wholesale energy product is information which , if it were made public , would be likely to have a significant effect on the prices of such wholesale energy products . such information includes information related to the capacity – including capacity reductions following accidents and maintenance operations – of facilities for production , storage , consumption or transmission of electricity or natural gas , as well as information which is required to be disclosed in accordance with legal or regulatory provisions at union or national level , market rules , and contracts or customs on the relevant wholesale energy market .


### by way of example , making it appear that the availability of electricity generation capacity or gas availability , or the availability of transmission capacity is other that the capacity which is actually physically available constitutes market manipulation . ### making it appear that the availability of electricity generation capacity or gas availability , or the availability of transmission capacity is other than the capacity which is actually physically available – inter alia by booking infrastructure for energy transport operators , which the operator in question does not intend to use – constitutes market manipulation .


### market participants shall publicly disclose inside information in respect of business or facilities which the participant concerned owns or controls or for which the participant is responsible for operational matters , either in whole or in part . such information shall include information relevant to the capacity of facilities for production , storage , consumption or transmission of electricity or natural gas . ### market participants shall publicly , and in a timely manner , disclose inside information in respect of business or facilities which the participant concerned owns or controls or for which the participant is responsible for operational matters , either in whole or in part . such information shall include information relevant to the capacity – including capacity reductions following accidents and maintenance operations – of facilities for production , storage , consumption or transmission of electricity or natural gas .


### in order to take account of future developments on wholesale energy markets , the commission shall adopt delegated acts in accordance with article 15 and subject to conditions of articles 16 an 17 , specifying the definitions set out at article 2 to . ### in order to take account of future developments on wholesale energy markets and to ensure consistency with changing eu legislation on financial and energy services , the commission shall adopt delegated acts in accordance with article 15 and subject to conditions of articles 16 and 17 , specifying the definitions set out at article 2 to .


### the agency shall be provided with a record of wholesale energy market transactions , including orders to trade . the commission shall adopt delegated acts in accordance with article 15 and subject to conditions of articles 16 and 17 , laying down the timing , form and content in which this information is reported and , where appropriate , defining thresholds for the reporting of transactions as well as specifying types of contracts for which transactions shall be reported . ### the agency shall be provided with a record of wholesale energy market transactions , including orders to trade . the commission shall adopt delegated acts in accordance with article 15 and subject to conditions of articles 16 and 17 , laying down the timing , form and content in which this information is reported and defining thresholds for the reporting of transactions as well as specifying types of contracts for which transactions shall be reported .


### where relevant , the agency will comply with regulation no 45 / 2001 of the european parliament and of the council of 18 december 2000 on the protection of individuals with regard to the processing of personal data by the community institutions and bodies and on the free movement of such data . ### the agency will comply with regulation no 45 / 2001 of the european parliament and of the council of 18 december 2000 on the protection of individuals with regard to the processing of personal data by the community institutions and bodies and on the free movement of such data .


### national regulatory authorities shall ensure that the prohibitions set out in articles 3 and 4 are applied . ### national regulatory authorities shall have a duty to ensure that the prohibitions set out in articles 3 and 4 are applied .


### each member state shall ensure that national regulatory authorities have the investigatory powers necessary for the exercise of this function . these powers shall be exercised in a proportionate manner . these powers may be exercised : ### each member state shall ensure that national regulatory authorities have the investigatory powers necessary for the immediate exercise of this function . these powers shall be exercised in a proportionate manner . these powers may be exercised :


### persons working or who have worked for the national regulatory authorities ; ### persons working or who have worked for the national regulatory authorities or other national authorities to which cases may be referred ;


### based on forecasts of biofuel demand provided by the member states and estimates of indirect land - use change emissions for different biofuel feedstocks it is likely that greenhouse gas emissions linked to indirect land use change are significant , and could negate some or all of the greenhouse gas savings of individual biofuels . this is because almost the entire biofuel production in 2020 is expected to come from crops grown on land that could be used to satisfy food and feed markets . in order to reduce such emissions , it is appropriate to distinguish between crop groups such as oil crops , cereals , sugars and other starch containing crops accordingly . ### based on forecasts of biofuel demand provided by the member states , centralised at european level , and estimates of indirect land - use change emissions for different biofuel feedstocks it is likely that greenhouse gas emissions linked to indirect land use change are significant , and could negate some or all of the greenhouse gas savings of individual biofuels . this is because almost the entire biofuel production in 2020 is expected to come from crops grown on land that could be used to satisfy food and feed markets . in order to reduce such emissions , it is appropriate to distinguish between crop groups such as oil crops , cereals , sugars and other starch containing crops accordingly .


### based on forecasts of biofuel demand provided by the member states and estimates of indirect land - use change emissions for different biofuel feedstocks it is likely that greenhouse gas emissions linked to indirect land use change are significant , and could negate some or all of the greenhouse gas savings of individual biofuels . this is because almost the entire biofuel production in 2020 is expected to come from crops grown on land that could be used to satisfy food and feed markets . in order to reduce such emissions , it is appropriate to distinguish between crop groups such as oil crops , cereals , sugars and other starch containing crops accordingly . ### based on forecasts of biofuel demand provided by the member states and estimates of indirect land - use change emissions for different biofuel feedstocks greenhouse gas emissions linked to indirect land use change will be significant , and could negate some or all of the greenhouse gas savings of individual biofuels . this is because almost the entire biofuel production in 2020 is expected to come from crops grown on land that could be used to satisfy food and feed markets . such practices have had a highly unfavourable impact on many local communities in the developing countries . emission reduction strategy should accordingly take into account of the social impact and respect for human rights , taking up less of the land intended to supply the food market .


### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . advanced biofuels , such as those made from wastes and algae , provide high greenhouse gas savings with low risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . it is appropriate , therefore , to encourage greater production of such advanced biofuels as these are currently not commercially available in large quantities , in part due to competition for public subsidies with established food crop based biofuel technologies . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels . in this context , only advanced biofuels with low estimated indirect land use change impacts and high overall greenhouse gas savings should be supported as part of the post 2020 renewable energy policy framework . ### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . advanced biofuels , such as those made from non - recyclable wastes and algae , provide high greenhouse gas savings with low risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . it is appropriate , therefore , to encourage greater production of such advanced biofuels as these are currently not commercially available in large quantities , in part due to competition for public subsidies with established food crop based biofuel technologies . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels . in this context , only advanced biofuels with low estimated indirect land use change impacts and high overall greenhouse gas savings should be supported as part of the post 2020 renewable energy policy framework .


### to prepare for the transition towards advanced biofuels and minimise the overall indirect land use change impacts in the period to 2020 , it is appropriate to limit the amount of biofuels and bioliquids obtained from food crops as set out in part a of annex viii to directive 2009 / 28 / ec and part a of annex v to directive 98 / 70 / ec that can be counted towards targets set out in directive 2009 / 28 / ec . without restricting the overall use of such biofuels , the share of biofuels and bioliquids produced from cereal and other starch rich crops , sugar and oil crops that can be counted towards the targets of directive 2009 / 28 / ec should be limited to the share of such biofuels and bioliquids consumed in 2011 . ### to prepare for the transition towards advanced biofuels and minimise the overall indirect land use change impacts in the period to 2020 , it is appropriate to limit the amount of biofuels and bioliquids obtained from food crops as set out in part a of annex viii to directive 2009 / 28 / ec and part a of annex v to directive 98 / 70 / ec that can be counted towards targets set out in directive 2009 / 28 / ec . such a limit should primarily focus on the biofuels which have the most adverse impact on the environment and climate . without restricting the overall use of such biofuels , the share of biofuels and bioliquids produced from oil crops that can be counted towards the targets of directive 2009 / 28 / ec should be limited .


### the following annex ix is added : ' annex ix part a . feedstocks whose contribution towards the target referred to in article 3 shall be considered to be four times their energy content algae . biomass fraction of mixed municipal waste , but not separated household waste subject to recycling targets under article 11 of directive 2008 / 98 / ec of the european parliament and of the council of 19 november 2008 on waste and repealing certain directives . biomass fraction of industrial waste . straw . animal manure and sewage sludge . palm oil mill effluent and empty palm fruit bunches . tall oil pitch . crude glycerine . bagasse . grape marcs and wine lees . nut shells . husks cobs bark , branches , leaves , saw dust and cutter shavings . part b . feedstocks whose contribution towards the target referred to in article 3 shall be considered to be four times their energy content used cooking oil . animal fats classified as category i and ii in accordance with ec / 1774 / 2002 laying down health rules concerning animal by - products not intended for human consumption . non - food cellulosic material . ligno - cellulosic material except saw logs and veneer logs . ### the following annex ix is added : ‘ annex ix the following biofuels shall be regarded as advanced biofuels : biological material in the case of which relevant alternative uses are associated with significant emissions of methane or nitrous oxide without usable energy being generated .


### having regard to the treaty on the functioning of the european union , and in particular article 149 thereof , ### having regard to the treaty on the functioning of the european union , and in particular articles 149 and 14 thereof ,


### these recommendations would benefit from being further supported by an enhanced evidence - base , feedback on success of policy implementation and co - operation between the pes of member states . to this end , the pes network to be established under this decision should carry out concrete initiatives such as common evidence - based benchmarking systems , corresponding mutual learning activities , mutual assistance between the network members and the implementation of strategic actions for the modernisation of pes . . the specific knowledge of the network and its individual members should also be used to provide , upon request of the employment , social policy , health and consumer affairs council and the employment committee , evidence for the development of employment policies . ### these recommendations would benefit from being further supported by an enhanced evidence - base , feedback on success of policy implementation and co - operation between the pes of member states . to this end , the pes network to be established under this decision should carry out concrete initiatives such as common evidence based benchmarking systems , corresponding mutual learning activities , mutual assistance between the network members and the implementation of strategic actions for the modernisation of pes . the specific knowledge of the network and its individual members should also be used to provide , upon request of the employment , social policy , health and consumer affairs council and the employment committee , evidence for the development of employment policies specifically needed to tackle high unemployment among vulnerable groups and youth in particular .


### the informal meeting of epsco ministers acknowledged that greater and more focused cooperation between the pes would lead to an improved sharing of best practice and asked for a detailed proposal on a ' bench learning ' initiative . ### greater and more focused cooperation between the pes would lead to an improved sharing of best practice and a detailed proposal on a ' bench learning ' initiative should be called for .


### the pes network established under this decision should work in close co - operation with emco based on article 150 tfeu and contribute to its work as a provider for factual evidence and reports on policy implementation . contributions from the pes network to the council will be channelled through emco . in particular , the combined knowledge of the pes network on delivery aspects of employment policies and the comparative analysis of pes can serve policy decision makers at both national and union level in the assessment and design of employment policies . ### the pes network established under this decision should work in close co - operation with emco based on article 150 tfeu and contribute to its work as a provider for factual evidence and reports on policy implementation . contributions from the pes network to the council will be channelled through emco . in particular , the combined knowledge of the pes network on delivery aspects of employment policies and the comparative analysis of pes can serve policy decision makers at both national and union level in the assessment and design of employment policies , helping to achieve the country - specific targets and to boost the employment rate , by addressing the problem of unfilled vacancies in the internal market .


### the pes network established under this decision should work in close co - operation with emco based on article 150 tfeu and contribute to its work as a provider for factual evidence and reports on policy implementation . contributions from the pes network to the council will be channelled through emco . in particular , the combined knowledge of the pes network on delivery aspects of employment policies and the comparative analysis of pes can serve policy decision makers at both national and union level in the assessment and design of employment policies . ### the secretariats , in particular , of the pes network established under this decision should work in close co - operation with those of emco based on article 150 tfeu and contribute to its work as a provider for factual evidence and reports on policy implementation . as things stand , contributions from the pes network to parliament and the council will be channelled through emco , together with comments where appropriate . in particular , the combined knowledge of the pes network on delivery aspects of employment policies and the comparative analysis of pes can serve policy decision makers at both national and union level in the assessment and design of employment policies . emco will also keep the pes network informed of its activities .


### the pes network should reinforce co - operation between its members , develop joint initiatives aimed at exchanges of information and best practices in all areas covered by pes , comparative analysis and advice as well as promotion of innovative approaches in the delivery of employment services . by establishing this network an inclusive , evidence - based and performance - oriented comparison of all pes leading to the identification of best practices will be possible . with these results members of the network should be able to shape the design and delivery of employment services within their specific responsibilities . the initiatives carried out by the network should improve pes effectiveness and allow for more efficient public spending . ### the pes network should reinforce co - operation between its members , develop joint initiatives aimed at exchanges of information and best practices in all areas covered by pes , comparative analysis and advice as well as promotion of innovative approaches in the delivery of employment services . by establishing this network an inclusive , evidence - based and performance - oriented comparison of all pes leading to the identification of best practices will be possible . with these results members of the network should be able to shape the design and delivery of employment services within their specific responsibilities , ensuring a better match of skills and qualifications of jobseekers to employers ' needs . the initiatives carried out by the network should improve pes effectiveness and allow for more efficient public spending .


### due to the variety of pes models , tasks and forms of service delivery it is up to each member state to nominate from the senior management of its public employment services one member for the board of the pes network . where applicable the member should represent in the board the other public employment services from the member state . the appointed members should have the capacity to take decisions on behalf of their sending organisations . in order to ensure an involvement of all pes in the workings of the network , activities should be open to all levels of participation . ### due to the variety of pes models , tasks and forms of service delivery it is up to each member state to nominate from the senior management of its public employment services one member and one or more alternate members for the board of the pes network . where applicable the member and / or the alternate members should represent in the board the other public employment services from the member state . the appointed members should have the capacity to take decisions on behalf of their sending organisations . in order to ensure an involvement of all pes in the workings of the network , activities should be open to all levels of participation .


### establishment ### purpose


### an eu wide network of public employment services - hereinafter referred to as ' the network ' - is established for the period expanding from 1 january 2014 to 31 december 2020 . the network will carry out initiatives as defined in article 3 . ### an eu wide network of public employment services - hereinafter referred to as ' the network ' - is established for the period expanding from the first day after publication of this decision in the official journal of the european union to 31 december 2020 . the network will carry out initiatives as defined in article 3 .


### member states with regional autonomous public employment services shall ensure adequate representation in the specific initiatives of the network . ### member states with local or regional autonomous public employment services shall ensure adequate representation in the specific initiatives of the network . representatives of national public employment services should also make every effort to ensure that the opinions and experience of local and regional authorities are incorporated into the network ' s activities , and to keep these local and regional authorities fully informed of its activities .


### the better integration of labour markets ; ### the identification of best practices , the better integration of labour markets ;


### increased geographical and occupational mobility ; ### increased geographical and occupational mobility without unfair competition between workers , in compliance with the relevant union legislation ;


### develop and implement european wide evidence - based benchmarking systems among public employment services based on the use of quantitative and qualitative indicators to assess pes performances and to gather evidence with a view to establishing an appropriate mutual learning vehicle . it shall also participate actively in the implementation of these activities by sharing data , knowledge and practices . ### develop and implement european wide evidence - based benchmarking systems among public employment services based on the use of quantitative and qualitative indicators to assess pes performances and to gather evidence with a view to establishing an appropriate mutual learning vehicle . it shall also participate actively in the implementation of these activities by sharing data , knowledge and practices . the objective should on no account be to create a ' classification ' or define objectives , but rather to facilitate learning on the basis of a common methodology .


### develop and implement european wide evidence - based benchmarking systems among public employment services based on the use of quantitative and qualitative indicators to assess pes performances and to gather evidence with a view to establishing an appropriate mutual learning vehicle . it shall also participate actively in the implementation of these activities by sharing data , knowledge and practices . ### develop and implement european wide evidence - based benchmarking systems among public employment services based on the use of quantitative and qualitative indicators to assess pes performances and to gather evidence from all member states with a view to establishing an appropriate mutual learning vehicle . it shall also participate actively in the implementation of these activities by sharing data , knowledge and best practices .


### the network shall cooperate with labour market stakeholders including other providers of employment services by involving them in relevant activities and meetings of the network and by exchanging information and data . ### the network shall cooperate , on an occasional basis and exclusively on its initiative , with labour market stakeholders including other providers of employment services , including temporary work agencies , private employment services , ngos working in the field of employment , regional and local authorities , where appropriate , and the european network for a lifelong guidance policy , by involving them in relevant activities and meetings of the network and by exchanging information and data .


### the network shall be governed by a board for which each member state shall nominate from the senior management of its public employment services one member and one alternate member . the commission shall appoint one member and one alternate member for the board . alternate members shall replace the members whenever necessary . ### the network shall be governed by a board for which each member state shall nominate from the senior management of its public employment services one member and one or more alternate members , consistent with the degree of centralisation of competences for employment policy in the member state concerned . the commission shall appoint one member and one alternate member for the board . alternate members shall replace the members whenever necessary .