Winding Up Banks Safely

The Single Resolution Mechanism (SRM) is the EU system for the orderly winding-up of failing banks within the Banking Union, to avoid costly bail-outs. Since its establishment in 2015, the SRM has progressed in preparing for bank resolution, according to a new European Court of Auditors (ECA) report.  However, the auditors find that further steps are needed in certain crucial…

Economic Impact of COVID

The early measures taken by the EU and its Member States to counter the economic impact of COVID-19 have helped save jobs and businesses, according to the European Court of Auditors (ECA).  However, the auditors also see the risk that the pandemic’s uneven impact on Member States and their differing capacities to support their economies…

EU To Miss Plastic Recycling Targets?

There is a significant risk that the EU will not meet its plastic packaging recycling targets for 2025 and 2030, according to a review by the European Court of Auditors (ECA). The update of the legal framework for plastic recycling in 2018 reflects the EU’s increased ambitions and could help boost recycling capacity. The scale of the…

Embracing Digital Transformation

Europe is not fully benefitting from advanced technologies to innovate and remain competitive. In 2016, the European Commission launched the Digitising European Industry (DEI) initiative to boost the digitalisation of EU businesses. Despite the Commission’s efforts to support national authorities, progress of the initiative has been uneven among the Member States, according to a new…

EU China Strategy

In a new review, the European Court of Auditors (ECA) looks at the multiple risks – mainly of an economic and political nature – China’s state-driven investment strategy poses to the EU, as well as the opportunities it presents. The auditors warn the EU faces several challenges in managing its response, including how to better…

ECA Focus on EU Kenya Aid

The European Commission and External Action Service (EEAS) have not demonstrated that European Development Fund (EDF) aid to Kenya between 2014 and 2020 addressed the country’s development obstacles and focused on reducing poverty, according to a new report by the European Court of Auditors (ECA). Projects funded under the previous 2008-2013 EDF delivered outcomes as…

ECA to Audit Commission’s SME strategy

SMEs are vital to the EU’s economy. Supporting their development both within the single market and outside the EU is thus a key element of the Union’s overall competitiveness strategy.  The European Court of Auditors is starting an audit to assess the coherence of the EU’s SME internationalisation strategy and the effectiveness of measures taken…

ECA to Perform Audit of EU actions to tackle corruption in Ukraine

Ukraine is one of the largest and most prominent countries bordering the EU and, as such, one of the main beneficiaries of the EU neighbourhood policy.  With prevailing corruption threatening the country’s economic growth and social development, the European Court of Auditors will assess the effectiveness of EU action to tackle grand corruption in Ukraine….