European Union – EGS Schuetzen http://egs-schuetzen.com/ Mon, 21 Nov 2022 14:31:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://egs-schuetzen.com/wp-content/uploads/2021/06/icon-4.png European Union – EGS Schuetzen http://egs-schuetzen.com/ 32 32 EEX sees EU plans for gas price cap as threat to supply security https://egs-schuetzen.com/eex-sees-eu-plans-for-gas-price-cap-as-threat-to-supply-security/ Mon, 21 Nov 2022 14:31:00 +0000 https://egs-schuetzen.com/eex-sees-eu-plans-for-gas-price-cap-as-threat-to-supply-security/ Gas price cap will not lower gas costs, EEX says Could lose cargoes, drive trading off exchanges Uncleared contracts imply higher counterparty risk Transparency of operators’ exposures FRANKFURT, Nov 21 (Reuters) – European Commission plans to propose a cap on natural gas prices after Nov. 24 may pose major risks to financial stability and supply […]]]>
  • Gas price cap will not lower gas costs, EEX says
  • Could lose cargoes, drive trading off exchanges
  • Uncleared contracts imply higher counterparty risk
  • Transparency of operators’ exposures

FRANKFURT, Nov 21 (Reuters) – European Commission plans to propose a cap on natural gas prices after Nov. 24 may pose major risks to financial stability and supply security in the region’s energy markets, the European Energy Exchange (DB1Gn.DE) said on Monday.

The European Union has been struggling to contain soaring energy prices due to a drop in Russian gas supplies following the Ukraine crisis.

The European Commission, the EU executive, has been trying to work with energy ministers from member states to find ways to tackle the price inflation.

Reuters last week saw EU documents sketching out planned moves to cap front-month contract prices on the Dutch Title Transfer Facility (TTF) market which would follow talks on this on Thursday.

The talks would try to seek compromise between member states opposed to any intervention and those wanting the plan to extend to more gas contracts than just the month ahead.

The TTF, which is a virtual exchange for trading gas, dominates north-west European gas trading. The EEX offers contracts for physical TTF delivery.

“This proposal has the potential to widen the energy crisis into a wider financial one as well, because it significantly impairs the trading activity of market participants,” said Tobias Paulun, chief strategy officer at Deutsche Boerse’s EEX.

“We are especially concerned that the effects of this proposal would be evaluated ex-post, which is too late when the damages have occurred,” he said in an interview.

Paulun said that similar criticism of the plan has been published in a letter to the Commission and EU energy and finance ministers by the Europex association of European Energy Exchanges where EEX is a member.

In the letter, seen by Reuters, the 31-member Europex organization said the plan would have “serious and potentially irrevocable negative effects on the functioning and competitiveness of the European energy wholesale market” beyond the current crisis.

An enforced maximum price could result in European utilities and traders losing access to sufficient gas cargoes in the global market. “It would not lower the price of gas,” Paulun said.

He said utilities might also stop hedging their production and consumption and instead move into bilateral over-the-counter trading. OTC trading is riskier because there is no central clearing for these contracts as there is on an exchange, although exchanges offer some OTC clearing services.

OTC trades are underpinned by deposits but these might not be big enough, which could raise counterparty default risks while reducing transparency around operators’ exposure.

Also, since the 2008 financial crisis, EU policy has favored energy trading moving on to exchanges where business is centrally cleared.

Paulun said operators might be tempted to avoid month-ahead hedging and do business only one or two days before the desired delivery, also increasing systemic risks.

Reporting by Vera Eckert, editing by Jane Merriman

Our Standards: The Thomson Reuters Trust Principles.

Vera Eckert

Thomson Reuters

Senior power correspondent for Germany with more than 30 years experience and focused on deregulated energy markets for power and gas, companies, networks, exchanges, renewables, policy, storage, future transport and hydrogen. A German native who has studied and worked in the United States and Britain.

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EU rules in favor of Banksy in trademark dispute, allowing him to remain anonymous https://egs-schuetzen.com/eu-rules-in-favor-of-banksy-in-trademark-dispute-allowing-him-to-remain-anonymous/ Sat, 19 Nov 2022 03:59:17 +0000 https://egs-schuetzen.com/eu-rules-in-favor-of-banksy-in-trademark-dispute-allowing-him-to-remain-anonymous/ The European Union Intellectual Property Office has ruled in favor of British street artist Banksy in a trademark dispute with greeting card company Full Color Black. Photo courtesy of EUIPO November 18 (UPI) — The European Union Intellectual Property Office has ruled in favor of British street artist Banksy in a trademark dispute with greeting […]]]>

The European Union Intellectual Property Office has ruled in favor of British street artist Banksy in a trademark dispute with greeting card company Full Color Black. Photo courtesy of EUIPO

November 18 (UPI) — The European Union Intellectual Property Office has ruled in favor of British street artist Banksy in a trademark dispute with greeting card company Full Color Black.

The ruling by EUIPO’s Fifth Board of Appeal overturns a 2021 ruling that invalidated a trademark that was registered in 2018 by Pest Control, the body that authenticates the anonymous artist’s works, according to legal documents.

The dispute is over a 2002 stencil of a monkey with a sandwich panel that reads, “Laugh now, but someday we’ll be in charge.”

Full Color Black has filed for cancellation of Banksy’s trademark, claiming its work was registered “in bad faith”.

EUPO’s Cancellation Division had declared the mark invalid on the grounds that much of the evidence for the mark referred to Banksy and not Pest Control, its certifying body, but the mark had no was requested on his behalf – meaning Banksy may have been forced to lose his anonymity to keep the mark.

Pest Control had argued “against the false narrative of Banksy as an individual because what is relevant is the business intent” of the EU trademark holder when filing the application, according to the documents.

“It is also noted that as Banksy chose to be anonymous and cannot be identified, this would preclude him from being able to protect this artwork under copyright laws without identifying himself, while that identifying would strip him of the secret personality that propels his fame and success,” EUIPO said.

EUIPO noted at the time that the work was “widely distributed” and that Banksy had previously spoken out strongly against copyright and that his work was free to reproduce.

In the latest filings, EUIPO said Full Color Black failed to demonstrate that the trademark cancellation was warranted or that Pest Control acted in bad faith or with “obviously dishonest behavior” when filing the trademark. contested mark.

Full Color Black was ordered to bear Banksy’s costs for the proceedings.

The news came as Banksy hit out at clothing retailer Guess for allegedly using his designs without his permission.

“They used my works without asking me, how can it be wrong for you to do the same with their clothes?” Banksy wrote on Instagram, while apparently encouraging shoplifters to target the store.

Guess has announced a new clothing collection featuring “graffiti by Banksy” which it says was created with Bradalised, a company that licenses the designs of graffiti artists.

However, if Banksy were to legally challenge Guess or Brandalised over the collection, he could again risk his anonymity.

Last week, Banksy made headlines when he unveiled a new stenciled artwork on the side of a bomb-damaged building in Ukraine.

The artwork, posted to Banksy’s Instagram account, features a side view of a human figure doing a handstand on a pile of rubble, with her hair tied up in a bun in her black and white stencil style.

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EU warns Serbia and Kosovo against returning to the past https://egs-schuetzen.com/eu-warns-serbia-and-kosovo-against-returning-to-the-past/ Mon, 14 Nov 2022 18:20:00 +0000 https://egs-schuetzen.com/eu-warns-serbia-and-kosovo-against-returning-to-the-past/ BRUSSELS (AP) — The European Union warned Serbia and Kosovo on Monday that they are on the edge of a precipice and must resolve their dispute over vehicle license plates by next week or face the prospect of a return to their violent past. Long-simmering tensions between Serbia and its former province have intensified in […]]]>

BRUSSELS (AP) — The European Union warned Serbia and Kosovo on Monday that they are on the edge of a precipice and must resolve their dispute over vehicle license plates by next week or face the prospect of a return to their violent past.

Long-simmering tensions between Serbia and its former province have intensified in recent weeks following the Kosovo government’s decision to ban Serbian-issued license plates. On November 5, 10 Serbian legislators, 10 prosecutors and 576 police officers from the Mitrovica region in northern Kosovo resigned following this decision.

EU foreign policy chief Josep Borrell said their resignations had left police stations and courts unstaffed, and that “in this vacuum, the worst can happen. Both parties therefore need to be more flexible.

Under the ban, about 6,300 ethnic Serbs with cars with license plates deemed illegal in Kosovo were to be warned until November 21 and then fined for the next two months. From April 21, they would only be allowed to drive with temporary local plates.

“We cannot reach that date without having an agreement or we will be on the brink of a dangerous situation,” Borrell told reporters – referring to November 21 – after chairing a meeting of EU foreign ministers in Brussels.

He said Kosovo negotiators were due in Brussels on Monday evening and he was ready to convene a meeting of leaders from Serbia and Kosovo to hammer out a deal by next week.

The issue of Kosovo’s independence sparked a 1998-99 war in which an estimated 13,000 people died. Serbia has launched a brutal crackdown to curb a separatist rebellion by ethnic Albanians in the territory. NATO bombed Serbia in 1999 to end the war.

Kosovo split unilaterally from Serbia in 2008. The Serbian government, with the support of China and Russia, refused to recognize Kosovo’s statehood. The United States and most of its European allies recognize Kosovo as an independent country.

Serbia and Kosovo must normalize their relations to join the European Union. But EU-mediated talks aimed at helping them have stalled, raising concerns of greater instability more than two decades after the conflict.

“They are now at a crossroads. They have to decide which direction they want to go. Towards the European Union, or towards the past,” Borrell said.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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EU passes law to eliminate CO2 with forests and other carbon sinks https://egs-schuetzen.com/eu-passes-law-to-eliminate-co2-with-forests-and-other-carbon-sinks/ Fri, 11 Nov 2022 06:14:00 +0000 https://egs-schuetzen.com/eu-passes-law-to-eliminate-co2-with-forests-and-other-carbon-sinks/ BRUSSELS, Nov 11 (Reuters) – The European Union has passed a law to expand its forests, marshes and other “sinks” that absorb carbon dioxide (CO2), a move that could help the bloc raise its reduction target net greenhouse gas emissions. On Friday morning, negotiators from the European Parliament and the European Council, which represents EU […]]]>

BRUSSELS, Nov 11 (Reuters) – The European Union has passed a law to expand its forests, marshes and other “sinks” that absorb carbon dioxide (CO2), a move that could help the bloc raise its reduction target net greenhouse gas emissions.

On Friday morning, negotiators from the European Parliament and the European Council, which represents EU governments, agreed to a deal on legislation called the Land Use, Land Use Change and Forestry Regulation (LULUCF).

The law sets a goal of eliminating 310 million tonnes of CO2 equivalent by 2030 through the use of soil, trees, plants, biomass and wood.

Binding targets are to be set for all 27 EU members, aiming to gradually increase removals and reduce emissions in order to reach the EU-wide target.

Currently, EU countries must ensure that they offset emissions from land use and forestry with at least an equivalent amount of carbon absorption. Under the new law, from 2026 CO2 removals must exceed emissions.

The law could see the EU increase its target for reducing net greenhouse gas emissions to almost 57% by 2030 compared to 1990 levels, from 55% currently, while putting it on the right track. path to achieving climate neutrality by 2050.

The deal is the latest of three the European Union had hoped to reach in time for a UN climate summit that started in Egypt on Sunday.

The bloc struck a deal last month on a law effectively banning the sale of new petrol and diesel cars from 2035 and on Tuesday agreed to a law setting national carbon emission reduction targets.

Increased carbon sequestration can take the form of recreating old forests or generating new ones, rewetting peatlands, or changing agricultural practices such as reducing tillage or planting crops to longer roots to trap more carbon in the soil.

EU governments had sought to make the system more flexible, but faced opposition from EU lawmakers who said the bloc had already lost around a quarter of its carbon sink in the past 20 years and that the law required guarantees on both carbon sink objectives and biodiversity.

Reporting by Philip Blenkinsop and Bart Meijer; Editing by Robert Birsel

Our standards: The Thomson Reuters Trust Principles.

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The European Union will sign a hydrogen agreement with Egypt at COP27 https://egs-schuetzen.com/the-european-union-will-sign-a-hydrogen-agreement-with-egypt-at-cop27/ Tue, 08 Nov 2022 21:12:05 +0000 https://egs-schuetzen.com/the-european-union-will-sign-a-hydrogen-agreement-with-egypt-at-cop27/ The European Union will sign a hydrogen agreement with Egypt during COP27. The European Union has said it will sign a hydrogen and renewable energy partnership agreement with Egypt at COP27, which is due to start this week in Sharm el-Sheikh. The deal will establish a framework for investments and is part of Brussels’ strategy […]]]>

The European Union will sign a hydrogen agreement with Egypt during COP27.

The European Union has said it will sign a hydrogen and renewable energy partnership agreement with Egypt at COP27, which is due to start this week in Sharm el-Sheikh.

The deal will establish a framework for investments and is part of Brussels’ strategy to import 10 million tonnes of hydrogen by 2030 in addition to producing 10 million tonnes domestically, an official said. EU.

The official said:

We are gradually reaching out to our partners like Egypt to help make this a reality.

The deal with Egypt will aim to establish “a certification conducive to renewable hydrogen that can be traded between Egypt and Europe,” the official added.

The EU will also sign agreements next week with countries like Namibia and Kazakhstan.

European Commission President Ursula von der Leyen and Egyptian President Abdel Fattah El Sisi issued a joint statement in June after a meeting in Cairo saying they would focus on renewable energy partnerships.

Egypt, the EU and Israel have also signed a trilateral agreement for the export of natural gas to Europe.

Ms von der Leyen will be in Sharm El Sheikh early next week and is expected to make proposals regarding renewable hydrogen trading at roundtables on Tuesday.

European Commission Executive Vice-President Frans Timmermans will then resume negotiations later in the week.

The Egyptian government is expected to launch its green hydrogen strategy at COP27, which will take place from November 6 to 18, Deutsche Welle Previously reported.

Egypt is on track to ensure that 100% of its national projects meet green criteria by 2030, Environment Minister Yasmine Fouad told The National in September.

The Gulf countries are also stepping up hydrogen exchanges with Europe. The first shipment of low-carbon ammonia from the United Arab Emirates to Germany was completed last month.

Alongside its climate pledges, Europe demanded new gas contracts this year after Russia invaded Ukraine, drawing accusations of hypocrisy from the developing world.

The EU official said Brussels had pledged to do “everything it can” to limit global warming to 1.5C this century. Brussels is putting in place regulations aimed at making the continent climate neutral by 2050.

Even if all the promises made so far are kept, the planet is still on track for an average rise of 2.7°C, according to a UN report.

LILY the latest news shaping the hydrogen market at Hydrogen Central

The EU will sign a hydrogen agreement with Egypt at COP27 on November 4, 2022

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European Union: Directive on corporate sustainability reporting – Regulating beyond borders https://egs-schuetzen.com/european-union-directive-on-corporate-sustainability-reporting-regulating-beyond-borders/ Sat, 05 Nov 2022 18:00:00 +0000 https://egs-schuetzen.com/european-union-directive-on-corporate-sustainability-reporting-regulating-beyond-borders/ In short The EU has politically agreed to adopt the Corporate Sustainability Reporting Directive (CSRD) and will likely adopt it before the end of 2022. The CSRD will overhaul the current sustainability reporting landscape to all multinational companies with significant activities in the EU, including those headquartered outside the EU. The reporting obligations of the […]]]>

In short

The EU has politically agreed to adopt the Corporate Sustainability Reporting Directive (CSRD) and will likely adopt it before the end of 2022. The CSRD will overhaul the current sustainability reporting landscape to all multinational companies with significant activities in the EU, including those headquartered outside the EU. The reporting obligations of the CSRD will gradually come into force between 2024 and 2028.


Although CSRD reporting obligations are not immediately applicable, given the scale of the reporting requirements, all multinational companies with significant operations in the EU should start planning now, as companies will be required to report qualitative and quantitative information on a range of environmental areas. , Social and Governance (ESG). As a first step, companies should determine to what extent they will be subject to CSRD requirements. This will then allow them to develop an optimal reporting strategy, guaranteeing compliance with these new obligations. Other considerations include ensuring that companies have clear baseline data against which they can track progress, that they have adequate systems in place to measure the necessary data, and that there are appropriate resources. and a strong governance framework in place to enable meaningful reporting across all areas. and geographic areas that may be required. As CSRD is part of a wave of new EU legislative initiatives transforming the ESG sphere from a primarily voluntary framework to mandatory requirements, companies should strive to adopt a holistic approach to compliance with EU ESG legislation, including but not limited to CSRD, as will be much more effective and impactful, helping them to achieve greater corporate sustainability and reduce compliance risks from profitable way.

To read the full alert, please click here.

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EU seeks better alignment with global sustainability rules https://egs-schuetzen.com/eu-seeks-better-alignment-with-global-sustainability-rules/ Thu, 03 Nov 2022 18:00:00 +0000 https://egs-schuetzen.com/eu-seeks-better-alignment-with-global-sustainability-rules/ LONDON, Nov 3 (Reuters) – The European Union on Thursday sought to reassure international companies that it would seek to align its sustainability disclosure rules with a global initiative, after warnings from regulators about the fragmentation of capital markets. The EU is finalizing mandatory environmental, social and governance (ESG) disclosures for around 50,000 companies across […]]]>

LONDON, Nov 3 (Reuters) – The European Union on Thursday sought to reassure international companies that it would seek to align its sustainability disclosure rules with a global initiative, after warnings from regulators about the fragmentation of capital markets.

The EU is finalizing mandatory environmental, social and governance (ESG) disclosures for around 50,000 companies across the bloc to help stop ‘greenwashing’ or exaggerated claims in favor of the climate to attract investors.

The International Sustainability Standards Board (ISSB) is drafting global baseline standards for corporate climate disclosures for use in non-EU countries such as Britain, while the US is working on their own disclosure rules.

“I am aware that Europe is ahead, leading the way and we want to show leadership, but we are also very aware of the need for global coordination and cooperation,” said Commissioner Mairead McGuinness. European financial services.

The EU disclosures, drafts of which are due to be completed this month, build “on what already exists, and we will contribute to global standardization initiatives,” McGuinness told a Central Bank conference from Ireland.

Companies and regulators have said that without a common approach to terminology between the EU and the ISSB, it will be more difficult for investors to compare companies.

“We want to see as much alignment as possible with the work of the International Sustainability Standards Board, although, as I said, Europe is likely to go further and faster to meet our ambitions more high on climate,” McGuinness said.

It takes the next step in the EU’s green plans by assessing how best to encourage sustainable retail lending for small businesses and households.

“With the support of the European Banking Authority, we are examining what needs to be done to promote the growth of green loans and green mortgages,” McGuinness said.

Reporting by Huw Jones; edited by Barbara Lewis

Our standards: The Thomson Reuters Trust Principles.

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AstraZeneca’s Vaxzevria COVID-19 vaccine obtains full marketing authorization in the European Union https://egs-schuetzen.com/astrazenecas-vaxzevria-covid-19-vaccine-obtains-full-marketing-authorization-in-the-european-union/ Tue, 01 Nov 2022 09:10:01 +0000 https://egs-schuetzen.com/astrazenecas-vaxzevria-covid-19-vaccine-obtains-full-marketing-authorization-in-the-european-union/ Newswires MT 2022 All news about ASTRAZENECA PLC Analyst Recommendations for ASTRAZENECA PLC 2022 sales 44,319M – – Net income 2022 4,181M – – Net debt 2022 24,108M – – PER 2022 ratio 42.3x 2022 return 2.50% Capitalization 183B 183B – EV / Sales 2022 4.67x EV / Sales […]]]>


Newswires MT 2022

All news about ASTRAZENECA PLC

Analyst Recommendations for ASTRAZENECA PLC

2022 sales 44,319M

Net income 2022 4,181M

Net debt 2022 24,108M

PER 2022 ratio 42.3x
2022 return 2.50%
Capitalization 183B
183B
EV / Sales 2022 4.67x
EV / Sales 2023 4.37x
# of employees 83 100
Floating 96.5%


Duration :

Period :




AstraZeneca PLC Technical Analysis Chart |  MarketScreener

Trends in ASTRAZENECA PLC Technical Analysis

Short term Middle term Long term
Tendencies Bullish Bearish Neutral




Evolution of the income statement

Sale

To buy

Medium consensus TO BUY
Number of analysts 26
Last closing price $117.88
Average target price $139.49
Average Spread / Target 18.3%


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Brexit bureaucracy is holding back innovation in the UK and sales in the EU | Manufacturing sector https://egs-schuetzen.com/brexit-bureaucracy-is-holding-back-innovation-in-the-uk-and-sales-in-the-eu-manufacturing-sector/ Sat, 29 Oct 2022 21:34:00 +0000 https://egs-schuetzen.com/brexit-bureaucracy-is-holding-back-innovation-in-the-uk-and-sales-in-the-eu-manufacturing-sector/ British inventions are marketed overseas as new Brexit safety certification rules mean they cannot be sold in the UK. Trade bodies and contractors have blamed the government’s decision to stop accepting the European Union CE mark and instead create a new UK Conformity Assessed (UKCA) mark showing that a product is safe. When the new […]]]>

British inventions are marketed overseas as new Brexit safety certification rules mean they cannot be sold in the UK.

Trade bodies and contractors have blamed the government’s decision to stop accepting the European Union CE mark and instead create a new UK Conformity Assessed (UKCA) mark showing that a product is safe.

When the new system is in place, it means a manufacturer will have to pass one set of tests for the EU and another for the UK, creating additional layers of bureaucracy. But some things can’t be tested yet because the UK doesn’t have facilities to test building products, including glue, sealants and glass, or some medical supplies.

An entrepreneur in the UK told the Observer that he had been unable to get a medical device certified in the UK or the EU and so had set up a business in the US, where the product would be manufactured and sold. Medical industry sources said UK companies were also opening divisions in Japan.

The switch from CE to UKCA was due to take place last year but was delayed and will now come into effect on December 31, 2022 at midnight European time. But ministers have further delayed mandatory UKCA marking for electrical products like iPhones, so CE marking can still be used until 2025.

Then, last week, the Medicines and Healthcare Products Regulatory Agency announced that it was recommending a delay until July 2024 for medical products.

Yet some sectors will still face a cliff on New Year’s Day, and the Construction Leadership Council, representing the building industry, wrote to new Business Secretary Grant Shapps and new Housing Secretary Michael Gove last week, warning them that plans for new homes, schools and hospitals were affected. “About 28% of the products are imported and half [those] of the EU, and therefore these products are also affected,” the letter states. “As a result, many global manufacturers now view the UK as simply too difficult to do business in, which has led to product withdrawals, impacting the UK’s ability to deliver completed projects. .”

The new UKCA marking will come into effect on December 31, 2022.

One of the letter’s authors, Peter Caplehorn, chief executive of the Construction Products Association, said: ‘It affects foreign investment [and] innovation. Products are under continuous development and, from the beginning of the year, if a product is significantly modified or upgraded, then it will need to be recertified.

“We have a test facility in the UK [for] radiators. And they did an analysis on the amount of heaters they put in their system. If they were to retest them all, it would take 75 years.

Steve Lee, director of diagnostics regulation for the Association of British Healthtech Industries (ABHI), said the MHRA’s delay would be helpful, but the uncertainty was already causing serious problems. “People don’t see the UK or the EU as a place to innovate and bring new products to market,” he said. “People are looking to other jurisdictions because the regulatory landscape is so uncertain.”

A major change in EU law means manufacturers face a similar problem in Europe. The changes – introduced after scandals linked to the rupture of breast implants and metal-on-metal hip implants – have also led to a delay in medical device testing in the EU. One in 10 medical device manufacturers in the UK have stopped trying to innovate, according to an ABHI survey of its members.

Around 600,000 medical products – from syringes and surgical instruments to HIV tests and hip replacements – are in use in the UK, but ABHI members reported in a survey this month that a out of five will be taken off the market over the next five years. Two-thirds expect the arrival of new devices in the UK to be delayed. “There will almost certainly be products that will be temporarily or permanently unavailable for use in the UK,” Lee said.

The British Chambers of Commerce (BCC) said there was more uncertainty stemming from the government’s decision to allow CE marked products in Northern Ireland, which has no trade barriers with the EU.

“By the end of 2025, CE marked products made in Northern Ireland will be able to circulate in Britain, but not those from the EU, Switzerland or Turkey,” said William Bain, head of trade policy at the BCC. “How will they tell the difference between products made in Northern Ireland and those that are imported into Northern Ireland and then sent to Britain? All of this needs to be resolved, and it creates great uncertainty. »

Manufacturers represented by Make UK want ministers to phase in the regulations, and three-quarters want CE marking to continue to be recognised. If UK regulations diverge significantly, two identical cars for UK and EU might have to be made with hundreds of different components.

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Germany unveils cannabis liberalization plan, with reservations https://egs-schuetzen.com/germany-unveils-cannabis-liberalization-plan-with-reservations/ Wed, 26 Oct 2022 10:41:13 +0000 https://egs-schuetzen.com/germany-unveils-cannabis-liberalization-plan-with-reservations/ BERLIN (AP) — Germany’s health minister on Wednesday unveiled plans to decriminalize possession of up to 30 grams (1 ounce) of cannabis and allow the substance to be sold to adults for recreational use. A question mark remains over whether the Cabinet-approved plan will go ahead, as the government first wants to ensure it is […]]]>

BERLIN (AP) — Germany’s health minister on Wednesday unveiled plans to decriminalize possession of up to 30 grams (1 ounce) of cannabis and allow the substance to be sold to adults for recreational use.

A question mark remains over whether the Cabinet-approved plan will go ahead, as the government first wants to ensure it is compatible with European Union law. Health Minister Karl Lauterbach has said he will only go ahead with legislation if that is the case.

The plan calls for the sale of cannabis to adults through licensed outlets, and the goal is to combat the black market, Lauterbach said. He added that the government intended to regulate the market tightly.

The legalization of controlled cannabis sales is part of a series of reforms outlined in last year’s coalition agreement between the three socially liberal parties that make up Chancellor Olaf Scholz’s government.

They said the plan would ensure quality control while protecting young people, and agreed that the “social effects” of the new legislation would be reviewed after four years.

Among other liberalization plans, the government removed a ban on doctors from “advertising” abortion services from the German penal code.. He also wants to ease the path to German citizenship, lift restrictions on dual citizenship and lower the minimum age to vote in national and European elections from 18 to 16.

The government also wants to repeal 40-year-old legislation that requires trans people to undergo a psychological assessment and court decision before officially changing their sex, a process that often involves intimate matters. It needs to be replaced with a new “law of self-determination”.

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