[pic] | COMMISSION OF THE EUROPEAN COMMUNITIES |

Brussels, 16.12.2008

COM(2008) 881 final

COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS

Implementation Report for the Community Lisbon Programme 2008 – 2010

1. INTRODUCTION

AS part of the renewed Lisbon Strategy for Growth and Jobs, the Commission adopted in December 2007 a Proposal for a Community Lisbon Programme 2008-2010, setting out ten key objectives and corresponding policy actions for Community-level actions for the next three years. In March 2008, the European Council taking into account the priorities identified by the Council invited the European Commission, the European Parliament and the Council to take forward work on the 10 objectives identified in CLP within their spheres of competence. The objectives and priority actions identified in the CLP are based on the four priority areas, recently confirmed in the European Economic Recovery Plan that the Commission proposed on 26th of November. Thus the CLP continues to provide appropriate policy responses in the light of the current financial and economic crisis.

This Communication assesses the implementation of the Community Lisbon Programme 2008-2010 in the first year of the new cycle and identifies the pending priority actions that should now be addressed with highest priority in order to complement the actions identified in the ERP and by the Member States in their updated national reform programmes.

Overall, substantial progress has been made in the first year of the Community Lisbon Programme and a number of key milestones have already been achieved. Amongst the most important are:

- The adoption by the EP and Council of the Goods Package to boost the internal market and increase consumer protection.

- The Commission adoption of the Small Business Act that sets the right policy priorities for easing life and increasing the dynamism of SMEs

- The Commission adoption of the Renewed Social Agenda that addresses the need to enhance employment opportunities and ensuring solidarity.

- The Commission adoption of the Climate Change and Renewable Energy Package and the Sustainable Consumption, Production and Industry Action Plan.

- The Memorandum of Understanding on Co-operation between the Financial Supervisory Authorities, Central Banks and Finance Ministries of the EU on Cross-Border Financial Stability that will contribute to unwinding the financial crisis.

- The Commission has also driven forward its better regulation agenda to cut unnecessary costs and remove obstacles to innovation.

- The adoption by the EP and Council of the Modernised Customs Code and the e-Customs Decision to create a paperless environment for customs and trade

- Substantially greater amounts of Community funding have been made available for growth and jobs through Cohesion Policy.

This has laid the foundations for a shift in focus to the implementation crucial to achieve a substantial and positive Community-wide impact. This document provides a detailed assessment of the achievements and priority pending actions under each objective.

2. PROGRESS ON THE 10 KEY OBJECTIVES OF THE CLP 2008-2010

2.1. Investing in people and modernising labour markets

Objective 1: The Commission will propose a renewed Social Agenda by mid-2008, particularly covering education, migration, and demographic evolutions, and will help to address the skills gap by improving the monitoring and forecasting of future skills requirements.

The Commission adopted in July 2008 the renewed Social Agenda. By modernising labour markets and social protection systems, the social agenda will help people seize the opportunities created by international competition, technological advances and changing population patterns while protecting the most vulnerable in society. It is a priority now for the Council and European Parliament to adopt the proposals in the Social Agenda in order to enhance employment opportunities, improve access to quality services, and ensure solidarity. In particular, with the “New skills for new jobs” initiative, the Community steps up its efforts to assess emerging skills needs, to promote dialogue between all actors involved, to improve EU-wide job search services and to promote the development of skills. Skills development and life-long learning will be supported by an "updated strategic framework for European cooperation in education and training" and specific measures to promote quality of and mobility in vocational education and training. In 2008 a foresight exercise has been launched for 16 sectors including textiles, electronics and financial services and will be extended to the area of environmental and energy technologies. Further efforts are needed on a priority basis to address the significant regulatory barriers that exist to the single labour market , including the insufficient comparability and recognition of qualifications and major restrictions on the portability of pensions and social benefits. Removing these obstacles will complement Member State efforts to facilitate the better use of skills and eliminate skill mismatches.

The Commission has proposed to simplify criteria for European Social Fund (ESF) support and frontload payments from early 2009, so that Member States have earlier access to up to € 1.8 bn in order to: rapidly reinforce activation schemes, refocus their programmes to concentrate support on the most vulnerable, and improve the monitoring and matching of skills. The Commission has also proposed to revise the rules of the European Globalisation Adjustment Fund so that it can intervene more rapidly in key sectors, either to co-finance training and job placements for those who are made redundant or to keep in the labour market skilled workers who will be needed once the economy starts to recover.

Objective 2: The Commission will make proposals for a common policy on immigration in 2008.

The Commission has already made initial proposals, in particularly on highly-qualified migrants coming to the EU through the “blue card” scheme. As set out in the Communication 'A Common Immigration Policy for Europe: Principles, actions and tools[1] of 17 June 2008 (COM/2008/359), the Commission will make further proposals in 2009, covering rules for intra-corporate transferees, seasonal workers and remunerated trainees. These are first steps towards a common policy on immigration that better responds to the needs of the EU labour market, however there is scope for substantial further progress, The Commission welcomes the intention of the Council to adopt by May 2009 the Blue card scheme to attract highly-skilled workers since it is a priority issue.

2.2. Unlocking business potential, especially of SMEs

Objective 3: The Community will adopt a Small Business Act to unlock the growth potential of SMEs throughout their life-cycle.

The Commission proposed a “Small Business Act” in June 2008 making concrete proposals for measures at EU and national level to support SME throughout their life-cycle. The Small Business Act has received full support by the European Council and European Parliament. In particular, both the Commission and the Council have acknowledged the need to advance implementation in view of assisting SMEs better in coping with the current financial and economic crisis and put forward an Action Plan which was endorsed by the Council. The implementation of the Small Business Act should receive highest political priority at all levels in Member States and at the Community-level. Moreover, the timely adoption of the legislative proposals on the European private company statute, reduced VAT rates for labour-intensive services, and the modification of the late payments directive that the Commission will present in February 2009 are now crucial. In addition, initiatives for further simplifying the regulatory environment and for improving SMEs access to finance (see objective 7 below) are urgently needed. Therefore, the Commission will propose to remove the requirement on micro-enterprises to prepare annual accounts (the estimated savings for these companies are € 7bn per year) and limit the capital requirements of the European private company to one euro. It also urges all public authorities to accept e-invoicing as equivalent to paper invoicing. Finally on access to finance the European Investment Bank has increased its investment envelope for SME loans to €30bn over 2008-2011 and will frontload the implementation to ensure that new loans and loan guarantees for SMEs become available throughout the Community.

Objective 4 : The Community will move towards the target to reduce EU administrative burdens by 25 % by 2012 and implement an ambitious simplification programme.

The Commission will make every effort to present the proposals needed to cut red tape and reduce administrative burden for business by 25% before the end of its mandate. This work complements the efforts of Member States to reduce administrative burdens by 25% by 2012. By the end of November 2008, 20 Member States had set national reduction targets. The Commission has given itself a working agenda which is unprecedented in scope and depth. It has identified and measured the cost of the information requirements deriving from 42 EU legal acts in 13 priority areas resulting in more than 5000 individual obligations at Member state level. In 2008 the Commission proposed 11 new Fast Track Actions for reducing administrative burdens in 2008 accounting for more than € 1 billion to European businesses. In 2009, the Commission will present additional burden reduction proposals based on a substantial stakeholder input. In particular, work will also continue to reduce compliance costs resulting from the tax fragmentation of the internal market in particular for SMEs.

In the Simplification programme to update and simplify existing Community legislation, the Commission has adopted 119 proposals since October 2005. Of these, 48 are still pending before the legislature. The screening of all existing legislation will be finalised by the end of the mandate of the Commission. Overall, the Commission has put forward about 770 legal acts for repeal, modification or replacement. The swift adoption of the simplification, the Fast Track Action proposals and proposals to reduce administrative burden by the European Parliament and the Council remains a priority to ensure that European businesses and citizens benefit from a more effective regulatory environment.

Objective 5: The Community will strengthen the single market, increase competition in services, take further steps to integrate the financial services market, and will strengthen existing supervisory arrangements and enhance EU cross-border financial crisis management.

Services

The Community needs to ensure that the single market for the services sector becomes a reality to stimulate competition and increase efficiency. The comprehensive and timely implementation of the Services directive by Member States by the December 2009 deadline is a priority to facilitate the cross-border establishment of service providers. This will improve market access for businesses, in particular SMEs and increase the choice for consumers.

The Community should strengthen single market policy, consumer policy and the enforcement of competition policy particularly in a number of key network industries and services including postal services, electricity/gas, rail, financial services, electronic communications, and the retail and wholesale industries, whilst ensuring the provision of services of general interest .

Goods

The Council has recently adopted the Goods Package which includes measures addressing harmonised product safety standards and up to date rules on market surveillance as well as strengthening CE marking requirements. The implementation of the Goods Package will give a new boost to production and trade in goods, making it easier for all companies to sell their goods across the EU whilst improving consumer protection. In addition the Commission has begun work on the market monitoring of the food supply chain, the retail trade, and electrical goods and will extend the work to other sectors. A first consumer scoreboard has been published and regular consumer price monitoring will be initiated starting with food and energy prices. The follow-up of these market monitoring and consumer monitoring actions is a priority. Work will continue to ensure timely standardisation and interoperability efforts, especially for ICT goods and services.

Cross-border financial supervision and crisis management

Financial stability is of key importance for growth and jobs as shown by the current financial crisis. The EU has acted quickly to restore market confidence, strengthen the resilience of the financial sector and to dampen the negative impact of the crisis on the real economy. To increase the resilience of the financial system, the Commission has undertaken a series of measures: The Community-level committees for cross-border supervision of the financial institutions and markets have been strengthened and the future of EU-wide supervision is being examined by the de Larosière High-Level Group, including the allocation of tasks and responsibilities between national and EU levels. The Commission has recently adopted a number of key measures to strengthen the EU legislative framework including amendments to the Capital Requirements Directives and the Deposit Guarantee Schemes Directive, changes to the accounting rules (IAS Regulation) and a proposal for a regulation on Credit Rating Agencies. These measures should be adopted by the European Institutions on a priority basis. Work is also underway to develop new proposals aimed at mitigating risks from derivatives and credit default swaps . The Community is actively taking part in the G20 and other international fora to improve global co-operation on financial supervision and crisis management . In the spring of 2009, the Commission will present a comprehensive package of policy measures for a reform of the EU financial sector in the wake of the financial crisis.

Financial services

The Single Euro Payments Area credit transfer scheme was launched in 2008, with the Commission providing ex-ante clarifications on competition issues in particular for payment and credit cards and direct debit. However, the single framework for wholesale and investment markets still needs completion and implementation on priority basis. The Commission will also follow up the sector inquiries into retail banking and business insurance.

2.3. Investing in knowledge and innovation

Objective 6: The Community will make the "fifth freedom", the free movement of knowledge, a reality and create a genuine, European Research Area

In order to make the "fifth freedom" a reality and create an open and competitive European Research Area (ERA), in May 2008, the Council launched the "Ljubljana Process"[2] of enhanced governance and agree on a long-term ERA vision. This vision reinforces the aim of realising the "fifth freedom" based on which the Commission intends to undertake a comprehensive screening of Community policies to remove barriers to its achievement. Realising ERA is integral to making Europe a leading knowledge economy and society and to strengthening the "knowledge triangle" of research, innovation and education. It involves high-level political discussions and steering of the policy agenda including the implementation of the five ERA partnership initiatives launched by the Commission in 2008.

Looking forward, the increased pooling of research resources with and between Member States on a variable geometry basis will be facilitated by the initiative on joint research programming and by the adoption by the institutions of a legal framework for the creation and operation of pan-European research infrastructures[3]. Knowledge flows, research efficiency and the attractiveness of Europe as a research location will be enhanced through the implementation of the European Researchers' Partnership , via the Commission Recommendation on intellectual property management in knowledge transfer activities[4], and through additional actions which complement Member State efforts to strengthen and reform the higher education sector and facilitate networking and enhanced co-operation between universities, research organisations and business. Through implementing the Strategic European framework for international science and technology cooperation , ERA will become more open and increase the international leverage of the EU and Member States with key third partner countries and in the global economy

The setting up of the European Institute of Innovation and Technology , formally instituted in April 2008 to integrate education, research and innovation, is another key strategic initiative in this respect. It will become a model for the promotion of open innovation and knowledge sharing between public research organisations and industry.

Objective 7: The Community will improve the framework conditions for innovation, in particular for venture capital and intellectual property rights.

The creation of favourable conditions for the financing of innovation remains a key priority to facilitate the more widespread emergence of highly innovative SMEs, especially in the current financial crisis. There is evidence that SMEs in particular are suffering from the credit crunch. Improving investment readiness and access to finance for SMEs are crucial. The Commission’s Competitiveness and Innovation Framework Programme 2007-2013 will contribute to bridging the equity gap in early and expansion stage equity financing through the High Growth & Innovative SME Facility, as well as supporting the supply of loans, microcredit and mezzanine finance to SMEs through the SME Guarantee Facility. Similarly, the financial engineering and technical assistance instruments available under Cohesion Policy further facilitate business start-ups and access to finance for SME's. In addition, the European Investment Bank has mandated the European Investment Fund to develop a new mezzanine instrument. The Commission brought forward a Communication on cross-border investments by venture capital funds[5] and continues to work closely with Member States on a priority basis to progress towards a mutual recognition of national frameworks for venture capital funds and the removal of the existing regulatory and tax obstacles.

The patenting system in the EU still suffers from costly and burdensome fragmentation that hampers the transfer and dissemination of knowledge and innovation across the EU. The inter-institutional negotiation on the Community Patent and the patent litigation system should be finalised on a priority basis in order to reduce patenting costs, provide more legal certainty, and make patents more accessible for SMEs.

2.4. Energy and climate change

Objective 8: The Community will complete the internal market for energy and adopt the climate change package in order to put in place the framework to achieve at least a 20% reduction in greenhouse gas emissions and reach a 20% renewables energy share by 2020.

The adoption of the package for the completion of the internal energy market by the European Parliament and the Council (expected by mid 2009) is a key priority. Key supporting measures include the Commission’s EU Energy Security and Solidarity Action Plan setting out five areas where more action is needed to secure sustainable energy supplies whilst supporting the 2020 climate change proposals. A new EU Energy Security and Infrastructure Instrument will also be brought forward by the Commission to promote infrastructure projects within and outside the EU in order to ensure the achievement of the EU's renewable energy objectives and guarantee EU security of energy supply.

The work towards an internal market for energy is complemented by efforts to further improve the cost effectiveness of the emissions trading scheme to ensure the achievement of the 2020 targets for reducing greenhouse gas emissions and by a Community framework for the cost-effective development of renewable energies to reach a renewables energy share of 20% by 2020. Following the agreement of the European Council on the Climate change and renewable energy package its adoption by the European Parliament and Council is now within reach.

Objective 9: The Community will promote an industrial policy geared towards more sustainable production and consumption, focusing on renewable energies and low-carbon and resource-efficient products, services and technologies.

In July 2008, the Commission presented an ambitious package of actions for sustainable consumption, production and industry (SCP/SIP). It aims at improving the environmental performance and in particular the energy efficiency of products and stimulating their market uptake with voluntary and obligatory actions to define and improve the environmental performance of eco-friendly products, better inform consumers, improve public procurement and fiscal incentives. It foresees an Environmental Technology Verification Scheme to support eco-innovation through increased confidence in new technologies.

In 2008, the Commission proposed an Energy Efficiency Package to contribute to meeting the EU objective of 20% energy savings by 2020. It focused on improvements in the legislation on the energy performance of buildings and on energy labeling as well as intensification of the implementation of eco-design and cogeneration Directives with a substantial impact on Europe's energy consumption and energy security. In addition a new Sustainable Energy Financing Initiative is being prepared jointly with European Investment Bank and other financial organisations to mobilise large-scale funding from capital markets for investments in energy efficiency as well as renewable energies. Moreover, the Commission proposed an amendment the European Regional Development Fund regulation to allow investment in energy efficiency improvement and renewable energies in housing in all Member States.

The Lead market initiative was adopted by the Commission in December 2007 to stimulate new markets through the implementation of targeted strategies in areas such as sustainable construction, recycling, bio-based products and renewable energy. The European Strategic Energy Technology Plan (SET-Plan), endorsed by the Council and European Parliament in 2008, with a view to a Communication on its financing to be adopted in 2009 will accelerate the development and market take-up of the necessary cutting-edge low carbon energy technologies and will boost the competitiveness of the EU energy industry.

The review of the energy taxation directive to be launched by the Commission at the beginning of 2009 aims at ensuring that energy taxation is a cost effective and more supportive instrument and will provide Member States with a complementary framework to the EU emission trading scheme. The associated proposal for reduced VAT rates for green products and services should be adopted on an urgent basis.

3. THE EXTERNAL AGENDA

Objective 10: Whilst working to conclude the Doha multilateral trade negotiations, the Community will negotiate bilaterally with key trading partners to open up new opportunities for international trade and investment, improve market access focussing on countries and sectors where significant barriers remain, and promote international regulatory cooperation.

Given current economic conditions, it is all the more important that trade policy works to prevent protectionist measures from our partners that could undermine the long-term competitiveness of the Union. Despite continuing challenges in reaching an agreement, a successful completion of the Doha round remains the best way of securing a level playing field and opening up new market opportunities and the Community remains fully committed to this objective. Following the meeting of the G-20 in November, the Heads of State and Government have renewed their commitment to successfully conclude the Doha negotiations. Where significant market access barriers remain, the use of Community trade barrier regulation and/or WTO action is and will be considered as appropriate.

In parallel, the Community continues bilaterally to engage with key trading partners, and to further promote regional economic integration with its neighbouring regions, for example through the Union for the Mediterranean and the enlargement policy. Comprehensive Bilateral trade agreements with key trading partners enable the EU to go beyond WTO commitments and include ambitious provisions for regulatory and behind-the-border cooperation. Negotiations with South Korea, India and Asean countries are progressing, albeit at different paces as are negotiations with the Gulf Co-operation Council and Ukraine. The Partnership and Cooperation Agreement under negotiation with China aims at improving market access and regulatory cooperation. Furthermore, the on-going negotiations for association agreements with Mercosur, the Andean Community and Central America include important parts on trade and other dimensions.

As part of the 2008 Lisbon package, the Commission reported to the European Council on the first results of its renewed Market Access Strategy . It also identified countries and sectors where significant regulatory barriers remain and presented ways forward to enhance international regulatory cooperation . Establishing a stable common regulatory space with major trading partners such as through the Transatlantic Economic Council with the US and the High Level Trade Mechanism with China contributes to a process towards a harmonisation of regulations and standards. Continued action needs to be taken to improve the effectiveness of the IPR enforcement system against counterfeiting and to extend existing sectoral agreements . Further sectoral market opening remains crucial such as a second stage agreement of the EU-US Air Transport Agreement, reforming aviation arrangements with other key economic partners, (e.g. Canada, China and India) and completing the Common Aviation Area with the EU's neighbours , such as Mediterranean countries..

4. CONCLUSION

The implementation of the CLP is well on track. However, a number of important legislative acts are still pending and should be swiftly adopted by the European Institutions as a matter of priority. Moreover, as indicated in the recovery plan and in view of the special economic circumstances further actions will be needed on Community level. The Commission will report about the implementation of these measures in the 2009 CLP implementation report.

CLP Annex

Key Objectives | Achievements since renewed CLP | Measures to be adopted by the European Commission | Measures to be adopted as priority action by other institutions (EP, Council) | Measures to be implemented |

Integrated Guidelines 20 (Matching of Labour ,Market needs), 21 (Flexicurity), 23 (Investment in Human Capital), & 24 (Education and training systems) |

The Commission will propose a renewed Social Agenda by mid-2008, particularly covering education, migration, and demographic evolutions, and help to address the skills gap by improving the monitoring and forecasting of future skills requirements | The renewed Social Agenda is adopted by the Commission in July 2008.. |

Ensure progressive removal by all MS of transitional restrictions on the free movement of workers from the new Member States (by 2011 at the latest for EU 8 and 2014 for EU 2) |

DIRECTIVE on minimum requirements for enhancing work mobility by improving the acquisition and preservation of supplementary pension rights (the "Portability Directive"). |

REGULATION of the European Parliament and of the Council laying down the procedure for implementing Regulation (EC) No 883/2004 on the coordination of social security systems Projected adoption (1st semester 2009) |

Monitor the implementation of the RECOMMENDATION on the European Qualifications Framework for lifelong learning Member States are asked to relate national qualifications systems to the EQF by 2010 |

DIRECTIVE- Monitoring the implementation of the Professional Qualifications Directive – Deadline for implementation by Member States:20 October 2007 |

Promote the implementation of the Recommendation on key competences for lifelong learning through the OMC and report back to EP and Council in 2010 |

The Commission has adopted a RECOMMENDATION on EU-wide credit system transfer and accumulation systems for vocational training is adopted by the Commission | RECOMMENDATION on EU-wide credit system transfer and accumulation systems for vocational training Projected adoption (2nd quarter 2009) |

The Commission has adopted RECOMMENDATION on quality assurance in vocational education and training is adopted by the Commission | RECOMMENDATION on quality assurance in vocational education and training Projected adoption (2nd quarter 2009)Projected Adoption (May 2009) |

"New skills for new jobs" on assessment of future skills requirements and steps to anticipate future needs (December 2008) (( | EU-wide inventory and monitoring system for on-going anticipation of future skills requirements in the context of "new skills for new jobs" initiative -Implementation in the course of 2008 and 2009 |

Ensure effective implementation of the Flexicurity common principles including the review "flexicurity: 3 years after". |

Integrated Guideline 20 (Matching of Labour Market needs) |

The Commission will make proposals for a common policy on immigration in 2008 | Proposal for a DIRECTIVE setting conditions of entry of seasonal workers (end 2008) (( | Proposal for a DIRECTIVE Entry of highly skilled workers; "Blue Card" Projected adoption (May 2009) |

Proposal for amending DIRECTIVE 2004/114 on the conditions of admission of third-country nationals for the purposes of studies, pupil exchange, unremunerated training or voluntary service |

Adoption of SBA principle by Council (December 2008) |

Integrated Guideline 15 (SMEs) |

The Community will adopt a Small Business Act to unlock the growth potential of SMEs throughout their life-cycle | The “Small Business Act for Europe” was adopted in June 2008 | Implementation of the SBA, including the ten guiding principles |

Amendment to the DIRECTIVE on late payments (1st half of 2009) (( |

DIRECTIVE on reduced VAT rates is adopted by the Commission | DIRECTIVE on reduced VAT rates Projected adoption (2nd half 2010.) |

REGULATION on the statute for a European private company is adopted by the Commission | REGULATION on the statute for a European private company Projected adoption (2nd half 2010.) |

Integrated Guideline 14 (Better regulation) |

The Community will move towards the target to reduce EU administrative burdens by 25 % by 2012 and implement an ambitious simplification programme | Rolling SIMPLIFICATION PROGRAMME (2006-2009) including 119 actions out of 180 are adopted by the Commission | Rolling SIMPLIFICATION PROGRAMME (2006-2009) remaining 61 actions | 48 Pending proposals from SIMPLIFICATION PROGRAMME (2006-2009) |

Commission proposed to reduce administrative burdens following administrative burden mapping and measurement of EC legislation and related transposition measures (2007-2008) in 13 priority areas. Proposals in 2008-2010. |

Commission proposed for 11 new fast track actions for reducing administrative burden | XXX pending proposals for Fast Track Actions | XXX Proposals for Fast Track Actions in comitology |

Integrated Guidelines 9 (Information Society), 12 (Internal Market) &13 (Open Markets) |

The Community will strengthen the single market, increase competition in services, and take further steps to integrate the financial services market | DIRECTIVE Revision of the regulatory framework for electronic communications and services Projected adoption (2009) |

Market monitoring in key markets |

DIRECTIVE amending Directive 97/67/EC concerning the full accomplishment of the internal market of Community postal services (Implementation 2011/ 2013) |

DIRECTIVES - Third Package on Rail (Implementation by 2009) |

DIRECTIVE on services in the internal market - Implementation by the MSs 28 December 2009 |

Actions to improve implementation of single market following Communication on the application of Community Law (SMR) |

Proposals to allow companies to choose an EU-wide tax base (3rd Q 2008) (( | Projected adoption (2009) |

Follow up of Retail banking (including payment cards and payment systems) and Business Insurance Sector Inquiries |

Measures to promote the creation of an EU mortgage credit market following a communication (White paper 19/12/07) (( |

Commission adopted a proposal for DIRECTIVE amending Directive 85/611 on EU harmonised investment funds- UCITS | DIRECTIVE amending Directive 85/611 on EU harmonised investment funds- UCITS Projected adoption (second quarter 2009). |

DIRECTIVE - Monitoring Implementation of MiFiD- Entered in force 1 November 2007 |

SEPA payment scheme for credit transfers is launched | Measures to ensure the realisation of Single Payments Area following a communication ( 2009) (( |

Measures for New Internal Market Package for Goods is adopted by the Council |

Commission adopted a \proposal for a REGULATION on Credit Rating Agencies | Proposal for REGULATION on Credit Rating Agencies |

Strengthening EU arrangements for financial stability, through review of cooperation obligations, (End 2008) (( |

The Commission has adopted the Accounting standards: of IFRS applicable in the EU as of 17.10.2008 | Accounting standards: of IFRS applicable in the EU as of 17.10.2008 |

The Commission has adopted the Amendment to IAS 39 and IFRS 7 "Reclassification of Financial Assets | The Amendment to IAS 39 and IFRS 7 "Reclassification of Financial Assets |

The Commission has adopted amendments to Directive on Deposit Guarantee Schemes (1994/19/EC) | Amendments to Directive on Deposit Guarantee Schemes (1994/19/EC) |

DIRECTIVE Solvency II -on the taking-up and pursuit of the business of Insurance and Reinsurance Projected adoption (End 2008) |

The Commission has adopted Amendments to Directive 2006/48/EC and 2006/49/EC on Capital Requirements | DIRECTIVE - Amendments to Directive 2006/48/EC and 2006/49/EC on Capital Requirements Projected adoption (April 2009) |

Integrated Guideline 7 (R&D) |

The Community will make the "fifth freedom" (the free movement of knowledge) a reality and create a genuine European Research area. | Promotion of open innovation and knowledge sharing between public research organisations and industry by making the European Institute of Innovation and Technology fully operational. |

The Commission has adopted: 'Better careers and more mobility: a European partnership for researchers' COM 2008 (317) | Implementing the partnership between the Member States and the EC based on "Better Careers and more mobility: a European partnership for researchers" COM 2008 (317) |

The Commission has adopted the recommendation on the management of intellectual property in knowledge transfer activities and the Code of Practice for universities and other public research organisations. C(2008) 1329 | Implementing the partnership between the Member States and the EC based on the Commission Recommendation on the management of Intellectual Property Rights in knowledge transfer activities and a Code of Practice for Universities and other Public Research Organisations C(2008) 1329 |

The Commission has adopted: 'A strategic European Framework for International Science and Technology Cooperation COM (2008) 588 | Implementing the partnership between the Member States and the EC for a Strategic European Framework for international S&T Cooperation based on. COM (2008) 588 |

The Commission has adopted "Towards Joint Programming in Research: working together to tackle common challenges more effectively" COM (2008) 468 | RECOMMENDATIONS - aimed at launching joint programming initiatives Projected adoption (end 2009 and 2010) |

The Commission has adopted a proposal for a Regulation on the Community legal framework for a European Research Infrastructure (ERI) COM (2008) 467 | Framework REGULATION – legal framework for pan-European research infrastructures Projected adoption December 2008 |

Integrated Guideline 8 (Innovation) |

The Community will improve the framework conditions for innovation, in particular for venture capital and intellectual property rights. | Coordinated national action and follow-up at Community level to increase mutual recognition of national frameworks for venture capital investments. |

Analysis of direct tax obstacles for venture capital investments and the possibility for an EU private placement regime (End 2008) (( |

COUNCIL REGULATION on the Community Patent and additional measures to set up an EU wide jurisdictional system for patent litigation Projected adoption (2010) |

JEREMIE: The Joint European Resources for Micro to Medium Enterprises initiative |

EIF - The High Growth and Innovative SME Facility (GIF): risk capital for innovative SMEs in their early stages (GIF1-€ 255m) and in their expansion phase (GIF2-€ 299 m) |

EIF- The SME Guarantee Facility, providing loan guarantees to encourage banks to make more debt finance available to SMEs, (€506 m) |

EIF-The Seed Capital Action and the Partnership Action: helping to reinforce the capacity of financial intermediaries to invest in and lend to SMEs. (€69 m) |

Integrated Guidelines 11 (Environment), 12 (Internal Market) 13 (Open Markets) & 16 (Infrastructure) |

The Community will complete the internal market for energy and adopt the climate change package in order to put in place the framework to achieve at least a 20% reduction in greenhouse gas emissions and reach a 20% Renewables energy share by 2020. | The Commission adopted the Climate Change and the Renewable Energy Packages. |

The Commission has proposed a new EU Energy Security and Solidarity Action Plan | REVISION of TEN-E guidelines and TEN regulation (2010) (( REVISION of regulation 736/96 on notifying projects to the Community in the petroleum, natural gas and electricity sector (2009) (( REVISION of security of gas supply directive (2010) (( |

DIRECTIVE amending Directive 2003/54/EC concerning common rules for the internal market in electricity Projected adoption(Mid 2009) |

DIRECTIVE amending Directive 2003/55/EC concerning common rules for the internal market in natural gas Projected adoption (Mid 2009) |

REGULATION establishing an Agency for the Cooperation of Energy Regulators Projected adoption (Mid 2009) |

REGULATION amending Regulation (EC) No 1228/2003 on conditions for access to the network for cross-border exchanges in electricity Projected adoption (Mid 2009) |

REGULATION amending Regulation (EC) No 1775/2005 on conditions for access to the natural gas transmission networks Projected adoption (Mid 2009) |

REVISION of the Energy Efficiency Action Plan (2010) (( |

Follow up measures to the energy sector inquiry |

Integrated Guidelines 10 (Industrial Base) & 11 (Environment) |

The Community will promote an industrial policy geared towards more sustainable production and consumption, focusing on renewable energies and low-carbon and resource-efficient products, services and technologies. | The Commission adopted SCP/SIP Action Plan in July 2008 to promote the establishment of an internal market for environmental technologies | Legislative proposals following the "Sustainable industrial policy/Sustainable consumption policy", notably extension of EUP Directive Projected adoption (March 2010) |

The Commission adopted the Energy Efficiency Package on the energy performance of buildings and on energy labelling. of tyres and energy labelling and product information by energy-related products | DIRECTIVE – recasting the directive on the energy performance of buildings DIRECTIVE - on labelling of tyres with respect to fuel efficiency and other essential parameters DIRECTIVE - on the indication by labelling and standard product information of the consumption of energy and other resources by energy-related products |

The Commission adopted in December 2007 the lead markets initiative to promote the development of European lead markets for energy/resource efficient technology |

The Commission adopted the European Strategic Energy Technology Plan (SET-Plan), aimed at an accelerated development and wide-scale application of clean, sustainable and efficient energy technologies |

The Commission has adopted a DIRECTIVE - Amending the Emission Trading Directive, 2003/87/EC | DIRECTIVE - Amending the Emission Trading Directive, 2003/87/EC Projected adoption (May 2009) |

The Commission has adopted Legislative proposal on Carbon Capture and Geological Storage (CCS) | Legislative proposal on Carbon Capture and Geological Storage (CCS) Projected adoption (May 2009) |

Proposal for a DIRECTIVE - Review of the Energy Taxation Directive (4th Q 2008) (( |

The Commission has adopted DIRECTIVE on the promotion of renewable energy | DIRECTIVE on the promotion of renewable energy (Projected adoption First half of 2009) |

Nine Commission Regulations setting eco-design requirements (through Comitology): simple set-top boxes; external power supplies; tertiary sector lighting equipment; domestic sector lighting equipment; water heaters; washing machines; dishwashers; domestic refrigerators and freezers; and televisions |

Five Commission Directives (through Comitology) implementing the energy labelling directive for water heaters; washing machines; dishwashers, refrigerators and freezers; and televisions |

Revision of DIRECTIVES on Energy labelling and household appliances (2008) (( |

Measures to strengthen the Public Procurement of high-performance environmentally-friendly products, technologies and services-following communication (Green Public Procurement (1st Q 2008 ) (( |

- 7th Framework Programme (2007-13): €2.3 billion for energy, €1.8 billion for environment (including climate change) - Competitiveness and Innovation Programme (CIP) (2007-13), Entrepreneurship and Innovation Programme (EIP) € 430 million for eco-innovation and Intelligent Energy for Europe (IEE) €730 million |

Integrated Guideline 13 (Open Markets) |

Whilst working to conclude the Doha multilateral trade negotiations, the Community will negotiate bilaterally with key trading partners to open up new opportunities for international trade and investment, improve market access focussing on countries and sectors where significant barriers remain, and create a common space of regulatory provisions and standards. | International Agreement - Conclusion of the most important bilateral FTAs (ASEAN, India, South Korea) |

International Agreement - New Partnership and Cooperation Agreement (PCA) with China |

Bilateral Cooperation EU-USA- Transatlantic Economic Council |

Bilateral regulatory cooperation with US, Japan, China and Russia |

EU-US Action Strategy on IPR enforcement |

Multi-party Agreement - Anti Counterfeiting Trade Agreement (ACTA) |

Monitoring and strengthening of spending on Growth and Jobs (earmarking) | European Cohesion Policy Funds (mid-term review 2010) |

European Agricultural Fund for Rural Development (mid-term review 2010) |

Lifelong learning Programme |

European Globalisation Adjustment Fund |

[1] COM(2008) 359.

[2] Council conclusions May 2008 (9076/08).

[3] Based on the proposal for a Council Regulation COM(2008) 467 "Proposal for a Council Regulation on the Community legal framework for a European Research Infrastructure (ERI)".

[4] Commission recommendation: on the management of intellectual property in knowledge transfer activities and Code of Practice for universities and other public research organisations – C(2008) 1329.

[5] “Removing obstacles to cross-border investments by venture capital funds”, December 2007.