THE BLOG

New European Commission: Upcoming Laws That Will Affect Your Life

31/10/2014 10:25 GMT | Updated 30/12/2014 10:59 GMT

2014-10-31-1_new_ec_whoswho_facebook.jpg

A new European Commission is in charge of drafting EU legislation starting 1 November. For the next five years it will be responsible for proposing new European legislation as well as monitoring the implementation of existing laws. All of this will not only determine if Europe is able to revitalise its economy and create new jobs, but also affect everyone's quality of life. Read on to find out what is coming up.

Economy

President Jean-Claude Juncker has already announced a €300 billion investment programme to boost growth and create jobs in Europe.

In addition, the Commission is planning new initiatives to help companies raise money for investment, not just through bank loans but also on the capital markets.

Also expected are proposals to reform the banking sector by requiring very large banks to separate their risky trading activities from their deposit-taking business. Work has also started on new rules to limit fees for card payments and prevent the manipulation of financial benchmarks.

The Commission will also continue the EU's trade talks, especially with the US (Transatlantic Trade and Investment Partnership).

Environment

There will be new goals for emissions, renewables and energy savings for 2030, as well as measures to reduce the EU's dependency on energy imports.

Meanwhile, legislative work has started on novel food, stricter air quality standards, the reduction of plastic bags and the cultivation of genetically modified crops

Consumers

Plans designed to end roaming charges and protect the principle of net neutrality will be further debated as part of the new telecoms package. An agreement on new data protection rules will also have to be found In the coming months.

The role of the European Parliament

None of these proposals will be able to go ahead unless they have been scrutinised and voted on by MEPs. Nearly all EU legislation requires the approval of both the European Parliament and the Council, which represents the member states.

MEPs will take a close look at the plans and amend or even reject them as necessary. They will also critically follow the negotiations for all trade agreements as these will also need to be approved by the Parliament.

2014-10-31-abc.jpg

Copyright first infographic European Parliament and the European Commission; copyright second infographic European Parliament