SMALL AND MEDIUM-SIZED ENTERPRISES' ACCESS TO FINANCE

Size: px
Start display at page:

Download "SMALL AND MEDIUM-SIZED ENTERPRISES' ACCESS TO FINANCE"

Transcription

1 EUROPEAN SEMESTER THEMATIC FICHE SMALL AND MEDIUM-SIZED ENTERPRISES' ACCESS TO FINANCE Thematic fiches are supporting background documents prepared by the services of the Commission in the context of the European Semester of economic policy coordination. They do not necessarily represent the official position of the Institution. 1. Introduction Access to finance is key to business development. Investment and innovation are not possible without adequate financing. A difficulty in getting finance is one of the main obstructions to the growth of many businesses, particularly small and medium sized enterprises (SMEs). Financial flows to SMEs are increasing but remain subdued. Access to finance is still perceived as an important problem by several SMEs 1. Comparing different types of enterprises, micro-enterprises and more innovative businesses in particular consider their financing as the most pressing problem 2. Aside from this, important differences in financing conditions for SMEs between Member States continue to exist. Member States differ significantly with regard to their financial intermediation models. This diversity is reflected in the relative importance of various funding sources used by companies as well as the level of development of various types of financial institutions, e.g. banks, investment funds, insurance and pension funds; and segments of financial markets such as stock exchange, bond market, securitisation (see annex). 1 In the latest Survey on the access to finance of enterprises (SAFE) in euro area countries (June ), access to finance was considered the most important problem by 34% of SMEs in Greece, 15% in Ireland and 15% in the Netherlands, in contrast with only 7% of SMEs in Germany and Austria. In the latest SAFE survey covering all Member States (November 2014), access to finance was cited as the most pressing problem in Cyprus, Greece and Slovenia; and as the least pressing in Sweden, the Czech Republic and Denmark. Source: Survey on the access to finance of enterprises (SAFE), European Commission, European Central Bank. 2 Source: Survey on the access to finance of enterprises (SAFE) 2014, European Commission, European Central Bank. 1

2 2. Identification of challenges 2.1 Funding sources for companies Bank loans constitute the main source of external funding for corporations in the majority of Member States (Chart 1). Cypriot and Greek companies are most reliant on bank loans, which account for more than half their liabilities. In both countries, securities markets play a minor role in corporate funding. In many Member States, the share of bank loans ranges between 30% and 50% of the balance sheet. Finally, three groups of countries with a relatively low share of bank financing can be distinguished. The first includes large and developed capital markets: the United Kingdom, France and Germany. A large market creates the opportunity for corporate expansion and, the bigger a firm, the greater role can be played by the stock market in the companies financing as opposed to smaller companies which need to rely more on bank loans. Listed shares are also an important source of funding for corporations in the Nordic Member States: Finland, Sweden and Denmark, exceeding 20% of the balance sheet. The third group of countries with less dependence on bank credit includes Slovakia, Lithuania, Estonia and Czech Republic and Poland. In these markets in Central and Eastern Europe, companies rely to a bigger extent on own resources (e.g. retained profits), being part of their equity. Chart 1: Loans to non-financial corporations in the euro area (EUR billion, quarterly data) Source: Eurostat Debt securities play a relatively minor role in the funding of European corporations. France stands out with a 10% share of bonds on the corporate balance sheet, followed by the United Kingdom, Portugal, Austria and Finland. In some countries, corporate bonds are almost non-existent, such as Greece, Romania, Lithuania and Cyprus. This suggests that some obstacles may be hindering the development of these markets. In a few countries the role of trade credit is particularly important. It accounts for almost 20 % of corporate sector liabilities in Malta and Slovakia and is also high in Lithuania, Latvia, the Czech Republic and Slovenia. 2

3 2.2 Bank lending Bank lending remains the most important source of external financing for SMEs 3 in the EU and the second one for large corporations 4. Furthermore, SMEs have few alternatives to it since they cannot easily access capital markets directly. Over the last year there has been an overall improvement in bank financing conditions and loans are increasing (see Chart 1). Bank lending rates have been trending downwards and maturities have increased. On average, SMEs perceive a significant improvement in the availability of bank financing. Chart 1: Loans to non-financial corporations in the euro area (EUR billion, quarterly data) Loan flows to non-fin. corporations ( billion) Loans flows to non fin. Corp. Bank Lending conditions over the previous 3 months Balance of opinion on lending conditions Source: ECB/Commission Yet SMEs consider that collateral requirements imposed by banks remain high. The difficulties of accessing bank loans are particularly affecting smaller and younger companies. Also, rejection rates remain high in some euro area countries such as the Netherlands (23.5%), Greece (21.5%) and Ireland (18.7%). In addition to the problem of loan applications being rejected, some businesses receive less financing than requested or decline loan offers due to their high costs and/or tight conditions. As a result, over a quarter of SMEs do not get most of the financing they ask for from their banks (see Chart 2). 3 Bank loans remain the primary form of external financing for 62% of SMEs. Cf. SAFE 2014, European Commission, European Central Bank. 4 Behind leasing and factoring. 3

4 Chart 2: SMEs not receiving most of the amount of bank loan requested (as % of total SMEs requesting bank loans) 5 Source: ECB/Commission From a cross-country perspective, financial markets in the euro area progressed steadily towards integration in the years following the introduction of the single currency. This was reflected in, among other things, a convergence of interest rates for private sector loans. However, economic fundamentals were increasingly diverging during that period and significant macroeconomic imbalances were built up. With the start of the crisis, market perceptions were adjusted and price trends in the banking sector and financial markets started to diverge across national borders. These divergences separate countries on the basis of their perceived capacity to cope with a banking crisis. Although the level of fragmentation has recently diminished, it remains very high. Bank lending rates now show less dispersion across Member States, but significant spreads remain (see Chart 3). Chart 3: 7.5% Interest rates for one-year loans up to EUR 1 million DE ES FR IT EA 6.5% 5.5% 4.5% 3.5% 2.5% 1.5% Source: ECB/Commission As shown in chart 4, interest rates for one-year loans up to EUR 1 million of over 4.5% are reported in Portugal, Cyprus, Ireland, Greece, and Slovakia, while SMEs in France, Belgium, Luxembourg and Austria are reporting rates close 2%. Also, the data shows that financing Source: Survey on the access to finance of enterprises (SAFE) 2014, European Commission, European Central Bank. 4

5 conditions remain tighter for SMEs than for larger firms, as reflected in the higher interest rates paid by the former. Chart 4: Interest rates for one-year loans 6 7% SMEs Large entreprises 6% 5% 4% 3% 2% 1% 0% FR BE LU AT LT EA DE IT ES NL EE MT SI FI LV SK PT MT IE EL Source: ECB/Commission 2.3 Non-bank financing There has been an increase in the issuance of corporate bonds 7, partly reflecting a favourable market environment due to lower interest rates. Yet bonds have mainly been issued by large firms and have been concentrated in larger markets. Equity financing is essential for innovative firms that have the potential for rapid growth and are willing to accept outside equity investors. These firms are in a small minority, but have the potential to grow into large companies. Overall, equity financing is used by 3 % of European SMEs. Innovative SMEs use equity financing more often than non-innovative enterprises 8. The absence of an equity investment culture, differences in information between companies and investors, a fragmented market and high costs resulting from these deficiencies seem to be among the main reasons for a lower level of venture capital funds in some Member States. Despite some improvement, activity levels in this field are still very low. At EU level, in 2014, venture capital fundraising amounted to 4.1bn, a decrease of 12% compared to The amount invested by these funds (EUR 3.6 bn) increased on a yearly basis by 6%. In 2014 around 90% of all venture capital investment was concentrated in eight Member States 9. In relative terms, as a percentage of GDP, there are also significant differences across countries (see Chart 5). The venture capital markets are more developed in Sweden, Finland, Ireland and the United Kingdom. Trade sale, write-off and sale of quoted equity were the most prominent exit routes for venture capital Loans up to EUR are used as proxy for loans to SMEs, and those over EUR 1 million a proxy for loans to large enterprises. 7 Cf. Financial integration in Europe, European Central Bank. 8 4% of innovative versus 2% of non-innovative enterprises. Source: Survey on the access to finance of enterprises (SAFE) 2014, European Commission, European Central Bank. 9 The United Kingdom, Germany, France, Sweden, Netherlands, Finland, Belgium and Spain. 10 Source for figures on venture capital: Invest Europe Yearbook 2014, Invest Europe. 5

6 Chart 5: Venture capital as % of GDP (2013) % 0.06% 0.05% 0.04% 0.03% 0.02% 0.01% 0.00% SE FI IE UK HU FR PT BE DK NL DE AT ES LU CZ BG PL RO IT EL Source: Invest Europe Crowdfunding (both securities-based and lending-based) is also emerging as an important complement to other sources of finance. Although its size is still low compared to traditional forms of financing, crowdfunding is rapidly growing. However, the market is concentrated in a few countries, with the United Kingdom playing a pivotal role. While the issuance of corporate bonds has increased, in particular in the high-yield segment, the increase is concentrated in countries with a more stable flow of bank loans. Only few countries facilitate issuance of SME-bonds, mainly through national or regional stock exchanges. 2.4 Payment times of public authorities Late payments in commercial transactions can also cause financial problems and uncertainty for suppliers, particularly small businesses. In the public sector, the average time it takes for public authorities to pay their bills has improved overall between and (see Chart 6). Chart 6: 200 Payment times for public authorities, duration/ delays in days Contract (days) Delay (days) The Late Payments Directive foresees a maximum duration of 30 days LT DE EE FI SK UK LV RO DK IE CZ AT NL SE PL SI HU HR EL BG FR BE CY PT ES IT Source: European payment index, Intrum Justitia. Note: No data available for for Croatia and Cyprus (2014 data used in chart). No data available for for Romania, Slovenia and Bulgaria (2012 used in chart) and for Croatia (2013 data used in chart). 11 The graph shows the latest data available for Estonia, Latvia, Lithuania, Slovenia and the Slovak Republic, which corresponds to No data was available for Cyprus, Croatia and Malta. 6

7 3. Identification of policy levers to address the challenges Member States have taken several policy measures to enhance SMEs' access to finance, with varying results. Most of the regulatory activity has taken place in those countries where bank lending to SMEs worsened more during the crisis. The most widespread measure has been enhancing and strengthening loan guarantee systems, mainly through broadening their scope and increasing the allocation of public funds into such guarantee schemes. Other and less widespread policy measures at national level have addressed: further developing corporate bond markets and alternative markets for SMEs; facilitating the securitisation of SME loans; easing the access and transfer of financial information; developing a regulatory framework for crowdfunding; and enhancing the public venture capital sector. In parallel, promotional financial institutions are being set up in various Member States Cross examination of policy state of play 13 At European level, the Capital Markets Union will help bring a more diverse supply of finance to SMEs by complementing bank financing with deeper, more developed capital markets. Relevant measures like building a pan-european approach to better connect SMEs with a wide range of funding sources and facilitating securitisation should support national action to improve access to finance for SMEs as outlined above. Other measures aim at creating the appropriate regulatory frameworks for innovative sources of funding to grow, such as crowdfunding, private placements and loan originating funds, whilst safeguarding investor protection and financial stability. The Commission will also bring forward a comprehensive package of measures to support venture capital and risk capital financing in the EU, including catalysing private investments using EU resources through a pan-european fundsof-funds, regulatory reform, and the promotion of best practice on tax incentives. Furthermore, the new European Fund for Strategic Investments (EFSI) has been set up and will allocate a quarter of its resources to support risk finance for SMEs and small mid-cap companies. This should help SMEs overcome capital shortages by providing higher amounts of equity and loan finance. Financial intermediaries lending to SMEs and small midcaps can benefit from guarantees of the European Investment Fund (EIF) for loan portfolios or the securitisation of loans. The programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) is improving access to finance for SMEs through two financial instruments that have been available since August COSME financial instruments operate in conjunction with those of the Horizon 2020 Framework Programme for Research and Innovation: InnovFin EU Finance for Innovators. Date: For further details, please refer to the Country Report of each Member State, See also the SME Performance Review tool developed by the European Commission, which monitors and assesses countries' progress in implementing the Small Business Act, including on access to finance, on a yearly basis. 13 "Action Plan on Building a Capital Markets Union", COM() 468 7

8 Annex: Financial intermediation in the Member States Chart 8: Intermediation through financial institutions and financial markets as % of GDP (2013, 2014 or ) Via institutions Via markets % of GDP Banks Investment Insurance Pension Listed shares of Private Venture IC&PF Bonds of NFC Securitisation funds companies funds NFC equity capital (assets) (assets) (assets) (assets) (assets) (capitalisation) (outstanding) (outstanding) (investment) (investment) BE 254,7 26,5 77,8 5,0 82,8 58,1 9,9 17,0 0,239 0,028 BG 108,6 3,4 : : 10,5 7,1 3,1-0,006 0,006 CZ 120,3 2,7 : : 18,2 10,4 7,9-0,194 0,006 DK 291,3 101,6 108,8 75,1 183,9 82,7 9,6 0,1 0,486 0,026 DE 242,7 53,4 60,0 16,3 76,1 43,8 4,4 2,3 0,247 0,023 EE 108,8 13,9 : : 15,4 8,6 7, IE 519,5 642,4 : : 174,2 186,4 1,0 18,2 0,274 0,049 EL 199,2 2,3 7,9 0,2 8,1 13,3 0,9 13,6 0,000 0,000 ES 246,0 20,5 : : 38,0 36,5 2,0 15,6 0,151 0,009 FR 273,6 41,6 97,1 : 0,0 65,2 24,2 3,2 0,395 0,030 HR 129,9 1,6 8,8 18,7 27,5 30,4 4, IT 184,6 11,1 : : 41,1 18,8 8,1 9,4 0,113 0,002 CY 461,9 14,0 : : 37,7 7,4 5, LV 123,3 1,5 4,5 8,3 12,8 3,6 0,7 0,0 - - LT 70,2 0,7 2,7 4,6 7,3 9,4 0, LU 1865,7 5287,3 300,3 2,5 302,8 110,5 42,0-0,057 0,009 HU 97,2 11,8 8,3 4,3 12,6 8,3 2,0-0,165 0,031 MT 669,1 82,4 132,5 0,0 132,5 10,9 4, NL 307,3 89,0 62,1 154,3 213,9 47,7 11,7 36,8 0,472 0,026 AT 213,1 48,9 32,5 5,8 38,3 18,8 11,6 0,6 0,088 0,019 PL 82,1 12,5 : : 27,8 17,3 4,8 0,1 0,061 0,005 PT 233,8 8,5 : : 45,1 22,6 19,8 20,0 0,153 0,029 RO 60,4 5,6 2,4 3,8 6,2 9,3 0,1-0,052 0,004 SI 107,5 5,9 : : 24,0 14,2 2, SK 78,1 5,2 8,4 9,7 18,1 2,7 4, FI 265,3 38,4 32,2 1,8 34,0 68,2 15,6 0,5 0,348 0,060 SE 256,3 70,0 97,3 24,9 122,1 88,1 20,2-0,330 0,066 UK 571,1 : : : 214,3 74,4 22,7 14,3 0,424 0,038 Source: Eurostat, ECB, Securities Industry and Financial Markets Association (SIFMA), European Private Equity & Venture Capital Association (EVCA) Banks are the largest financial intermediaries in all Member States, although their relative importance varies significantly from one country to another. In most EU countries, total assets of the banking sector represent twice to four times national GDP. However, this ratio is much higher in Malta, Ireland and Cyprus, which underlies the importance of the banking sector in these countries. Luxembourg is an outlier, with total bank assets exceeding GDP up to twenty times. On the other hand, in the still converging financial markets of Central and Eastern Europe, total assets of the banking sector are typically about the same size as national GDP, the lowest level of banking penetration being recorded in Romania (60% of GDP), Lithuania (70%) and Slovakia (78%). While loans typically represent the bulk of the banking assets, most banks also invest in capital markets. Insurance companies and pension funds are the key institutional investors intermediating funds from households to capital markets. Great diversity in the relative importance of these institutions in various markets can be observed. In Luxembourg, the assets of insurance companies amount to 300% of its GDP. Other countries with a sizable insurance sector are Malta, Denmark, France, Sweden and Belgium. On the other hand, countries in Central and Eastern Europe typically have smaller insurance sectors. Regarding pension funds, the Netherlands stands out with total assets amounting to 154% of GDP. Except for Denmark, where pension funds' assets represent 75% of GDP, this ratio typically does not exceed 20% in other Member States. 8

9 Diversity is also characteristic of the European investment fund sector. Luxembourg and Ireland, which are the two main EU hubs for fund registration, are the outliers: the assets held by investment funds represent 53 and 6.4 times their national GDP, respectively. In other EU Member States, the size of the asset portfolio held by investment funds ranges between 20% and 100% of GDP in countries with significantly developed capital markets, while it is below 15% of GDP in all Central and Eastern Europe countries. The investment funds sector is particularly underdeveloped in Lithuania, Latvia, Croatia Greece, the Czech Republic, and Bulgaria, where investment funds' assets represent less than 3.5% of GDP. The size of the stock market also varies greatly from one Member State to another. The capitalisation of publicly-listed non-financial companies (NFC) relative to GDP of the country where the NFC is registered is highest in Ireland (190%) and Luxembourg (110%). Public equity markets are also large in the UK, Nordic countries, France, Belgium and Germany. In all Central and Eastern Europe countries except Poland and the Czech Republic, public equity shares of NFCs represent less than 10% of GDP. In all EU Member States, corporate bond markets are smaller than stock markets. However, national differences still prevail. Luxembourg has the most developed bond market relative to its size, with the value of outstanding bonds reaching 42% of GDP. The size of the national bond capital market exceeds 15% of GDP in France, UK, Sweden, Portugal and Finland. On the other side of the spectrum, several Member States feature very small corporate bond markets, in particular Romania, Latvia and Lithuania (below 1%), but also Ireland, Greece, Estonia, Hungary and Spain. The level of development of securitisation indicates the degree to which financial intermediaries (primarily banks) use capital markets to fund their portfolios. It also varies greatly between Member States. Although securitisation is predominantly used for mortgage and consumer products, some corporate loans and bonds are also used as underlying assets. The Netherlands has the largest securitisation market (37% of GDP), with the bulk of the collateral being mortgage loans. Some countries also have relatively developed securitisation markets, with stocks of securitised assets representing between 15% and 20% of GDP (Portugal, Ireland, Spain, UK). In some other large European countries, even though the amount of securitised assets outstanding is relatively low as a percentage of GDP, the securitisation market is also sizable in absolute numbers (France, Germany, Italy). In most other Member States, the value of the outstanding securitised assets relative to the size of the economy is very small. Private equity and venture capital, even if limited in all EU Member States, are important sources of funding, especially for higher risk and innovative projects. They can still be regarded as niche solutions compared to traditional financing venues. Taking all types of private equity investment into consideration, private equity activity is highest in the most developed capital markets (the large Member States, Benelux, the Nordic countries), but even in these countries it remains below 0.5% of GDP. Venture capital, used for start-ups and more risky undertakings, constitutes a small fraction of private equity. This type of financing is most developed in Sweden (0.07% of GDP), Finland, Ireland and the UK. 9

EUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE

EUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE EUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE Access to finance is key to business development. Investment and innovation are not possible without adequate financing. A difficulty in getting finance

More information

ACCESS TO FINANCE. of SMEs in the euro area, European Commission and European Central Bank (ECB), November 2013.

ACCESS TO FINANCE. of SMEs in the euro area, European Commission and European Central Bank (ECB), November 2013. ACCESS TO FINANCE Improving access to finance is essential to restoring growth and enhancing competitiveness. Investment and innovation are not possible without adequate financing. Difficulties in accessing

More information

Public Debt and Contingent Liabilities: A Cross-Country Comparison

Public Debt and Contingent Liabilities: A Cross-Country Comparison Public Debt and Contingent Liabilities: A Cross-Country Comparison Melchior Vella and Gevit Duca * 1. Contingent Liabilities 1.1 What are contingent liabilities? Contingent liabilities are obligations

More information

72/2015-21 April 2015

72/2015-21 April 2015 72/2015-21 April 2015 Provision of deficit and debt data for 2014 - first notification Euro area and EU28 government deficit at 2.4% and 2.9% of GDP respectively Government debt at 91.9% and 86.8% In 2014,

More information

SURVEY ON THE TRAINING OF GENERAL CARE NURSES IN THE EUROPEAN UNION. The current minimum training requirements for general care nurses

SURVEY ON THE TRAINING OF GENERAL CARE NURSES IN THE EUROPEAN UNION. The current minimum training requirements for general care nurses SURVEY ON THE TRAINING OF GENERAL CARE NURSES IN THE EUROPEAN UNION This survey serves as a background document for the discussion of the Commission's legislative proposal to modernize the minimum requirements

More information

Comparison of annuity markets (OECD National Annuity Markets: Features and Implications, Rusconi 2008) Mercer

Comparison of annuity markets (OECD National Annuity Markets: Features and Implications, Rusconi 2008) Mercer May 2009 Retirement Income/Annuities Around the World What US Policy Makers Might Learn Barbara Marder, Baltimore Global Defined Contribution Consulting Leader www.mercer.com 1 Comparison of annuity markets

More information

THE ROLE OF PUBLIC SUPPORT IN THE COMMERCIALISATION OF INNOVATIONS

THE ROLE OF PUBLIC SUPPORT IN THE COMMERCIALISATION OF INNOVATIONS Flash Eurobarometer THE ROLE OF PUBLIC SUPPORT IN THE COMMERCIALISATION OF INNOVATIONS REPORT Fieldwork: January February 2014 Publication: May 2014 This survey has been requested by the European Commission,

More information

ERMInE Database. Presentation by Nils Flatabø SINTEF Energy Research. ERMInE Workshop 2 - Northern Europe Oslo, 1. November 2006

ERMInE Database. Presentation by Nils Flatabø SINTEF Energy Research. ERMInE Workshop 2 - Northern Europe Oslo, 1. November 2006 ERMInE Database Presentation by Nils Flatabø SINTEF Energy Research ERMInE Workshop 2 - Northern Europe Oslo, 1. November 26 Overview Content of the Ermine Database Electronic Questionnaire RTD&D Data

More information

INNOBAROMETER 2015 - THE INNOVATION TRENDS AT EU ENTERPRISES

INNOBAROMETER 2015 - THE INNOVATION TRENDS AT EU ENTERPRISES Eurobarometer INNOBAROMETER 2015 - THE INNOVATION TRENDS AT EU ENTERPRISES REPORT Fieldwork: February 2015 Publication: September 2015 This survey has been requested by the European Commission, Directorate-General

More information

Finnish foreign trade 2014 Figures and diagrams. 27.2.2015 FINNISH CUSTOMS Statistics 1

Finnish foreign trade 2014 Figures and diagrams. 27.2.2015 FINNISH CUSTOMS Statistics 1 Finnish foreign trade 214 Figures and diagrams 27.2.215 FINNISH CUSTOMS Statistics 1 IMPORTS, EXPORTS AND TRADE BALANCE 199-214 7 billion e 6 5 4 3 2 1-1 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9

More information

ENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT. EU Schengen States. Non-Schengen EU States. Non-EU Schengen States.

ENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT. EU Schengen States. Non-Schengen EU States. Non-EU Schengen States. ENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT An area without internal borders where EU citizens and non-eu nationals may move freely EU Schengen States Non-Schengen EU States IS Azores

More information

CO2 BASED MOTOR VEHICLE TAXES IN THE EU IN 2015

CO2 BASED MOTOR VEHICLE TAXES IN THE EU IN 2015 CO2 BASED MOTOR VEHICLE TAXES IN THE EU IN 2015 COUNTRY AT (AUSTRIA) BE (BELGIUM) BG (BULGARIA) CO2/FUEL CONSUMPTION TAXES A fuel consumption tax (Normverbrauchsabgabe or NoVA) is levied upon the first

More information

BUSINESS-TO-BUSINESS ALTERNATIVE DISPUTE RESOLUTION IN THE EU

BUSINESS-TO-BUSINESS ALTERNATIVE DISPUTE RESOLUTION IN THE EU Flash Eurobarometer BUSINESS-TO-BUSINESS ALTERNATIVE DISPUTE RESOLUTION IN THE EU REPORT Fieldwork: March-April 22 Publication: November 22 This survey has been requested by Directorate-General for Justice

More information

OVERVIEW OF PURCHASE AND TAX INCENTIVES FOR ELECTRIC VEHICLES IN THE EU

OVERVIEW OF PURCHASE AND TAX INCENTIVES FOR ELECTRIC VEHICLES IN THE EU 01.04.2014 OVERVIEW OF PURCHASE AND TAX INCENTIVES FOR ELECTRIC VEHICLES IN THE EU This table provides an overview of the incentives that are granted in the Member States of the European Union for the

More information

SMEs access to finance survey 2014

SMEs access to finance survey 2014 EUROPEAN COMMISSION MEMO Brussels, 12 November 2014 SMEs access to finance survey 2014 This memo outlines the results of a survey undertaken by the European Commission to provide policy makers with evidence

More information

EUROPE 2020 TARGET: EARLY LEAVERS FROM EDUCATION AND TRAINING

EUROPE 2020 TARGET: EARLY LEAVERS FROM EDUCATION AND TRAINING EUROPE 2020 TARGET: EARLY LEAVERS FROM EDUCATION AND TRAINING By 2020, the share of early leavers from education and training (aged 18-24) should be less than 10% Early school leaving 1 is an obstacle

More information

Monitoring the social impact of the crisis: public perceptions in the European Union (wave 6) REPORT

Monitoring the social impact of the crisis: public perceptions in the European Union (wave 6) REPORT Eurobarometer Monitoring the social impact of the crisis: public perceptions in the European Union (wave 6) REPORT Fieldwork: December 2011 Publication: April 2012 This survey has been requested by Directorate-General

More information

User language preferences online. Analytical report

User language preferences online. Analytical report Flash Eurobarometer 313 The Gallup Organization Flash Eurobarometer European Commission User language preferences online Analytical report Fieldwork: January 2011 Publication: May 2011 This survey was

More information

INTRODUCTION... 2. I. Participation in the 2014 European elections... 3

INTRODUCTION... 2. I. Participation in the 2014 European elections... 3 ?? Directorate-General for Communication PUBLIC OPINION MONITORING UNIT 2014 EUROPEAN ELECTIONS DESK RESEARCH Brussels, April 2015 Profile of voters and abstainees in the European elections 2014 INTRODUCTION...

More information

2013 SMEs Access to Finance survey. Analytical Report

2013 SMEs Access to Finance survey. Analytical Report 2013 SMEs Access to Finance survey Analytical Report Date: 14/11/2013 2013 SMEs Access to Finance survey Analytical Report 14 November 2013 Contents Introduction... 2 Summary... 6 1. SMEs most pressing

More information

Study on comparison tools and third-party verification schemes

Study on comparison tools and third-party verification schemes Justice and Consumers Study on comparison tools and third-party verification schemes ECCG 25/03/2015 Julien Brugerolle JUST E6 Introduction Study objectives Explore consumer behavioural patterns in the

More information

GDP per capita, consumption per capita and comparative price levels in Europe

GDP per capita, consumption per capita and comparative price levels in Europe Economy and finance Author: Lars SVENNEBYE Statistics in focus 2008 GDP per capita, consumption per capita and comparative price levels in Europe Final results for 2005 and preliminary results for 2006

More information

RETAIL FINANCIAL SERVICES

RETAIL FINANCIAL SERVICES Special Eurobarometer 373 RETAIL FINANCIAL SERVICES REPORT Fieldwork: September 211 Publication: March 212 This survey has been requested by Directorate-General Internal Market and Services and co-ordinated

More information

Implementing the cooperation mechanisms of the RES directive current status and open questions

Implementing the cooperation mechanisms of the RES directive current status and open questions Implementing the cooperation mechanisms of the RES directive current status and open questions Corinna Klessmann, Ecofys Germany RE-SHAPING Workshop, Vilnius, 16.05.2011 Supported by Intelligent Energy

More information

European judicial training 2014. Justice

European judicial training 2014. Justice European judicial training 2014 Justice Europe Direct is a service to help you find answers to your questions about the European Union. Freephone number (*): 00 800 6 7 8 9 10 11 (*) Certain mobile telephone

More information

INNOVATION IN THE PUBLIC SECTOR: ITS PERCEPTION IN AND IMPACT ON BUSINESS

INNOVATION IN THE PUBLIC SECTOR: ITS PERCEPTION IN AND IMPACT ON BUSINESS Flash Eurobarometer INNOVATION IN THE PUBLIC SECTOR: ITS PERCEPTION IN AND IMPACT ON BUSINESS REPORT Fieldwork: February-March 22 Publication: June 22 This survey has been requested by the European Commission,

More information

The Legal Protection Insurance Market in Europe. October 2013

The Legal Protection Insurance Market in Europe. October 2013 The Legal Protection Insurance Market in Europe October 2013 The Legal Protection Insurance Market in Europe October 2013 In its latest publication RIAD, the International Association of Legal Protection

More information

EUROPEAN YOUTH: PARTICIPATION IN DEMOCRATIC LIFE

EUROPEAN YOUTH: PARTICIPATION IN DEMOCRATIC LIFE Flash Eurobarometer EUROPEAN YOUTH: PARTICIPATION IN DEMOCRATIC LIFE REPORT Fieldwork: April 2013 Publication: May 2013 This survey has been requested by the European Commission, Directorate-General for

More information

RETAIL FINANCIAL SERVICES

RETAIL FINANCIAL SERVICES Special Eurobarometer 373 RETAIL FINANCIAL SERVICES REPORT Fieldwork: September 211 Publication: April 212 This survey has been requested by the European Commission, Directorate-General Internal Market

More information

Private Sector Debt Dívida do Sector Privado. dossiers. Economic Outlook Conjuntura Económica. Conjuntura Económica.

Private Sector Debt Dívida do Sector Privado. dossiers. Economic Outlook Conjuntura Económica. Conjuntura Económica. dossiers Economic Outlook Private Sector Debt Dívida do Sector Privado Last Update Última Actualização:12/08/2015 Portugal Economy Probe (PE Probe) Prepared by PE Probe Preparado por PE Probe Copyright

More information

The coverage rate of social benefits. Research note 9/2013

The coverage rate of social benefits. Research note 9/2013 Research note 9/2013 SOCIAL SITUATION OBSERVATORY INCOME DISTRIBUTION AND LIVING CONDITIONS APPLICA (BE), EUROPEAN CENTRE FOR THE EUROPEAN CENTRE FOR SOCIAL WELFARE POLICY AND RESEARCH (AT), ISER UNIVERSITY

More information

EUROPE 2020 TARGETS: RESEARCH AND DEVELOPMENT

EUROPE 2020 TARGETS: RESEARCH AND DEVELOPMENT EUROPE 2020 TARGETS: RESEARCH AND DEVELOPMENT Research, development and innovation are key policy components of the EU strategy for economic growth: Europe 2020. By fostering market take-up of new, innovative

More information

Dublin, March 2013. EPSO Network of Experts in the field of Personnel Selection 14th March 2013

Dublin, March 2013. EPSO Network of Experts in the field of Personnel Selection 14th March 2013 Dublin, March 2013 EPSO Network of Experts in the field of Personnel Selection 14th March 2013 On-going and upcoming competitions AD2012 by Citizenship AD2012 Citizenship %EU Population validated application

More information

RETAILERS ATTITUDES TOWARDS CROSS- BORDER TRADE AND CONSUMER PROTECTION

RETAILERS ATTITUDES TOWARDS CROSS- BORDER TRADE AND CONSUMER PROTECTION Eurobarometer RETAILERS ATTITUDES TOWARDS CROSS- BORDER TRADE AND CONSUMER PROTECTION REPORT Fieldwork: September - October 2012 Publication: June 2013 This survey has been requested by the European Commission,

More information

Joint Research Centre (JRC) Economic Analysis of Electronic Identification (EID) of Small Ruminants in Member States

Joint Research Centre (JRC) Economic Analysis of Electronic Identification (EID) of Small Ruminants in Member States 1 Joint Research Centre (JRC) Economic Analysis of Electronic Identification (EID) of Small Ruminants in Member States IPSC - Institute for the Protection and Security of the Citizen Ispra - Italy http://ipsc.jrc.ec.europa.eu/

More information

EUROPEAN AREA OF SKILLS AND QUALIFICATIONS

EUROPEAN AREA OF SKILLS AND QUALIFICATIONS EUROPEAN AREA OF SKILLS AND QUALIFICATIONS REPORT Fieldwork: April - May 2014 Publication: June 2014 This survey has been requested by the European Commission, Directorate-General for Education and Culture

More information

European Research Council

European Research Council ERC Advanced Grants 2011 Outcome: Indicative Statistics Reproduction is authorised provided that the source ERC is acknowledged NB: In these graphs grantee refers to a candidate selected for ERC funding

More information

YOUNG PEOPLE AND DRUGS

YOUNG PEOPLE AND DRUGS Eurobarometer YOUNG PEOPLE AND DRUGS REPORT Fieldwork: June 2014 Publication: August 2014 This survey has been requested by the European Commission, Directorate-General for Justice and co-ordinated by

More information

Poverty and Social Exclusion in Central, Eastern and South-Eastern European Member States. Michael Knogler

Poverty and Social Exclusion in Central, Eastern and South-Eastern European Member States. Michael Knogler Department of Economics Policy Issues No. May 1 Institut für Ost- und Südosteuropaforschung Landshuter Straße, D-937 Regensburg Telefon: ++9 (9 1) 93 5-1 E-Mail: info@ios-regensburg.de Internet: www.ios-regensburg.de

More information

EUROPEAN CITIZENS DIGITAL HEALTH LITERACY

EUROPEAN CITIZENS DIGITAL HEALTH LITERACY Flash Eurobarometer EUROPEAN CITIZENS DIGITAL HEALTH LITERACY REPORT Fieldwork: September 2014 Publication: November 2014 This survey has been requested by the European Commission, Directorate-General

More information

Unmarried births turn UK into the family breakdown capital of Western Europe

Unmarried births turn UK into the family breakdown capital of Western Europe Unmarried births turn UK into the family breakdown capital of Western Europe Harry Benson, The Marriage Foundation, October 2014 Family breakdown affecting children can only come from one of two sources:

More information

Special Eurobarometer 431 DATA PROTECTION REPORT

Special Eurobarometer 431 DATA PROTECTION REPORT Special Eurobarometer 431 DATA PROTECTION REPORT Fieldwork: March 2015 Publication: June 2015 This survey has been requested by the European Commission, Directorate-General for Justice and Consumers and

More information

INVESTING IN INTANGIBLES: ECONOMIC ASSETS AND INNOVATION DRIVERS FOR GROWTH

INVESTING IN INTANGIBLES: ECONOMIC ASSETS AND INNOVATION DRIVERS FOR GROWTH Flash Eurobarometer INVESTING IN INTANGIBLES: ECONOMIC ASSETS AND INNOVATION DRIVERS FOR GROWTH REPORT Fieldwork: January February 213 Publication: May 213 This survey has been requested by the European

More information

HOW COMPANIES INFLUENCE OUR SOCIETY: CITIZENS VIEW

HOW COMPANIES INFLUENCE OUR SOCIETY: CITIZENS VIEW Flash Eurobarometer HOW COMPANIES INFLUENCE OUR SOCIETY: CITIZENS VIEW REPORT Fieldwork: October-November 2012 Publication: April 2013 This survey has been requested by the European Commission, Directorate-General

More information

Towards a safer use of the Internet for children in the EU a parents perspective. Analytical report

Towards a safer use of the Internet for children in the EU a parents perspective. Analytical report Flash Eurobarometer 248 The Gallup Organisation Analytical Report Flash EB N o 251 Public attitudes and perceptions in the euro area Flash Eurobarometer European Commission Towards a safer use of the Internet

More information

Taxation of tobacco products in the European Union. Frank Van Driessche DG Taxation and Customs Union May 2006

Taxation of tobacco products in the European Union. Frank Van Driessche DG Taxation and Customs Union May 2006 1 Taxation of tobacco products in the European Union Frank Van Driessche DG Taxation and Customs Union May 2006 2 Legislation on taxation Directive 92/79/EEC (Approximation of taxes on cigarettes) Directive

More information

Broadband Coverage in Europe Final Report 2009 Survey Data as of 31 December 2008. DG INFSO 80106 December 2009 IDATE 1

Broadband Coverage in Europe Final Report 2009 Survey Data as of 31 December 2008. DG INFSO 80106 December 2009 IDATE 1 Broadband Coverage in Europe Final Report 2009 Survey Data as of 31 December 2008 DG INFSO 80106 December 2009 IDATE 1 Table of contents 1. Methodological notes...5 2. Executive summary...7 3. European

More information

Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank

Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank 24 March 2014 Outline EU and Croatia key challenges The Investment

More information

Our patent and trade mark attorneys are here to help you protect and profit from your ideas, making sure they re working every bit as hard as you do.

Our patent and trade mark attorneys are here to help you protect and profit from your ideas, making sure they re working every bit as hard as you do. Our patent and trade mark attorneys are here to help you protect and profit from your ideas, making sure they re working every bit as hard as you do. Our people work with everyone from multi-nationals

More information

European Research Council

European Research Council ERC Starting Grant Outcome: Indicative statistics Reproduction is authorised provided the source ERC is acknowledged ERCEA/JH. ERC Starting Grant: call Submitted and selected proposals by domain Submitted

More information

EUROPE 2020 TARGET: TERTIARY EDUCATION ATTAINMENT

EUROPE 2020 TARGET: TERTIARY EDUCATION ATTAINMENT EUROPE 2020 TARGET: TERTIARY EDUCATION ATTAINMENT Low tertiary or equivalent education attainment levels create skills bottlenecks in knowledgeintensive economic sectors and hamper productivity, innovation

More information

E-COMMUNICATIONS HOUSEHOLD SURVEY

E-COMMUNICATIONS HOUSEHOLD SURVEY Special Eurobarometer 396 E-COMMUNICATIONS HOUSEHOLD SURVEY REPORT Fieldwork: February - March 2013 Publication: November 2013 This survey has been requested by the European Commission, Directorate-General

More information

Survey on the access to finance of enterprises (SAFE) Analytical Report 2015

Survey on the access to finance of enterprises (SAFE) Analytical Report 2015 Survey on the access to finance of enterprises (SAFE) Analytical Report 2015 Written by Sophie Doove, Ton Kwaak and Tommy Span December 2015 EUROPEAN COMMISSION Directorate-General for Internal Market,

More information

ANALYSIS OF THE STAKEHOLDER CONSULTATION ON

ANALYSIS OF THE STAKEHOLDER CONSULTATION ON ANALYSIS OF THE STAKEHOLDER CONSULTATION ON Science and Technology, the key to Europe s future: guidelines for future European policy to support research COM(353)2004 DG Research, European Commission,

More information

EBA REPORT ON ASSET ENCUMBRANCE JUNE 2016

EBA REPORT ON ASSET ENCUMBRANCE JUNE 2016 EBA REPORT ON ASSET ENCUMBRANCE JUNE 2016 1 Contents List of figures 3 Executive summary 4 Analysis of the asset encumbrance of European banks 6 Sample 6 Scope of the report 6 Total encumbrance 7 Encumbrance

More information

E-COMMUNICATIONS AND TELECOM SINGLE MARKET HOUSEHOLD SURVEY

E-COMMUNICATIONS AND TELECOM SINGLE MARKET HOUSEHOLD SURVEY Special Eurobarometer 414 E-COMMUNICATIONS AND TELECOM SINGLE MARKET HOUSEHOLD SURVEY REPORT Fieldwork: January 2014 Publication: March 2014 This survey has been requested by the European Commission, Directorate-General

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students who want to take a full Masters level

More information

EUROPEANS SATISFACTION WITH RAIL SERVICES

EUROPEANS SATISFACTION WITH RAIL SERVICES Flash Eurobarometer 382a EUROPEANS SATISFACTION WITH RAIL SERVICES SUMMARY Fieldwork: September 2013 Publication: December 2013 This survey has been requested by the European Commission, Directorate-General

More information

Broadband markets Digital Agenda Scoreboard 1 2014

Broadband markets Digital Agenda Scoreboard 1 2014 Broadband markets Digital Agenda Scoreboard 2014 1 Broadband coverage: Basic broadband is available to everyone in the EU, while fixed technologies cover 97% leaving 6 million homes unconnected. Next Generation

More information

SMES, RESOURCE EFFICIENCY AND GREEN MARKETS

SMES, RESOURCE EFFICIENCY AND GREEN MARKETS Eurobarometer SMES, RESOURCE EFFICIENCY AND GREEN MARKETS REPORT Fieldwork: September 2013 Publication: December 2013 This survey has been requested by the European Commission, Directorate-General for

More information

Voluntary health insurance and health care reforms

Voluntary health insurance and health care reforms Voluntary health insurance and health care reforms Sarah Thomson Senior Research Fellow, European Observatory Deputy Director, LSE Health IMF conference, Paris, 21 st June 2011 Health financing policy

More information

EN 106 EN 4. THE MOBILE USE OF THE INTERNET BY INDIVIDUALS AND ENTERPRISES. 4.1. Introduction

EN 106 EN 4. THE MOBILE USE OF THE INTERNET BY INDIVIDUALS AND ENTERPRISES. 4.1. Introduction 4. THE MOBILE USE OF THE INTERNET BY INDIVIDUALS AND ENTERPRISES 4.1. Introduction This chapter looks at mobile use of the internet by individuals and enterprises, benefiting from new data collected in

More information

Responsible Research and Innovation (RRI), Science and Technology

Responsible Research and Innovation (RRI), Science and Technology Special Eurobarometer 401 Responsible Research and Innovation (RRI), Science and Technology REPORT Fieldwork: April - May 2013 Publication: November 2013 This survey has been requested by the European

More information

Factsheet Swiss European Mobility Programme (SEMP/ex-Erasmus)

Factsheet Swiss European Mobility Programme (SEMP/ex-Erasmus) Factsheet Swiss European Mobility Programme (SEMP/ex-Erasmus) Academic year 2016-2017 1. Institutional Information 1.1. Institutional details Name of the institution Code Institution website Online course

More information

Digital Agenda Targets Progress report. Digital Agenda Scoreboard 2014

Digital Agenda Targets Progress report. Digital Agenda Scoreboard 2014 Digital Agenda Targets Progress report Digital Agenda Scoreboard 2014 1 NGA coverage: Fast broadband technologies capable of providing at least 30 Mbps are available to 64%, up from 54% a year ago Among

More information

E-Communications Household Survey. Report. Fieldwork: November - December 2009 Publication: October 2010. Special Eurobarometer 335

E-Communications Household Survey. Report. Fieldwork: November - December 2009 Publication: October 2010. Special Eurobarometer 335 Special Eurobarometer 335 European Commission E-Communications Household Survey Report Fieldwork: November - December 2009 Publication: October 2010 Special Eurobarometer 335 / Wave TNS Opinion & Social

More information

Special Eurobarometer 397 CORRUPTION REPORT

Special Eurobarometer 397 CORRUPTION REPORT Special Eurobarometer 397 CORRUPTION REPORT Fieldwork: February - March 213 Publication: February 214 This survey has been requested by the European Commission, Directorate-General for Home Affairs and

More information

Social dumping and free movement: Overview of current issues from an economic point of view

Social dumping and free movement: Overview of current issues from an economic point of view Social dumping and free movement: Overview of current issues from an economic point of view Prof. dr. Jozef Pacolet & Frederic De Wispelaere Design Charles & Ray Eames - Hang it all Vitra Statistics on

More information

COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX. Accompanying the document

COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX. Accompanying the document EUROPEAN COMMISSION Brussels, 28.11.2014 SWD(2014) 346 final COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL,

More information

ATTITUDES OF EUROPEANS TOWARDS BUILDING THE SINGLE MARKET FOR GREEN PRODUCTS

ATTITUDES OF EUROPEANS TOWARDS BUILDING THE SINGLE MARKET FOR GREEN PRODUCTS Eurobarometer ATTITUDES OF EUROPEANS TOWARDS BUILDING THE SINGLE MARKET FOR GREEN PRODUCTS REPORT Fieldwork: December 2012 Publication: July 2013 This survey has been requested by the European Commission,

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS Ref. Ares(2015)660570-17/02/2015 ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students

More information

Family Law. Fieldwork: June 2006 Report: October 2006

Family Law. Fieldwork: June 2006 Report: October 2006 The Gallup Organization Flash EB N o 188 Consular Protection and Family Law Flash Eurobarometer European Commission Family Law Summary Fieldwork: June 06 Report: October 06 Flash Eurobarometer 188 The

More information

Household saving rate higher in the EU than in the USA despite lower income Household income, saving and investment, 1995-2007

Household saving rate higher in the EU than in the USA despite lower income Household income, saving and investment, 1995-2007 Economy and finance Authors: Peeter LEETMAA, Hervé RENNIE, Béatrice THIRY Statistics in Focus 29/2009 Household saving rate higher in the EU than in the A despite lower income Household income, saving

More information

I have asked for asylum in the EU which country will handle my claim?

I have asked for asylum in the EU which country will handle my claim? EN I have asked for asylum in the EU which country will handle my claim? A Information about the Dublin Regulation for applicants for international protection pursuant to article 4 of Regulation (EU) No

More information

Family Law. Analytical Report

Family Law. Analytical Report Flash Eurobarometer European Commission Family Law Analytical Report Fieldwork: June 2006 Report: October 2006 Flash Eurobarometer 188 The Gallup Organization This survey was requested by Directorate-General

More information

Finnish foreign trade 2013 Figures and diagrams. 7.2.2014 TULLI Tilastointi 1

Finnish foreign trade 2013 Figures and diagrams. 7.2.2014 TULLI Tilastointi 1 Finnish foreign trade 213 Figures and diagrams 7.2.214 TULLI Tilastointi 1 IMPORTS, EXPORTS AND BALANCE OF TRADE 199-213 billion e 7 6 5 4 3 2 1-1 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12

More information

ERGP (12) 33 ERGP report on data collection ERGP REPORT WITH DATA ON INDICATORS ON THE POSTAL MARKET

ERGP (12) 33 ERGP report on data collection ERGP REPORT WITH DATA ON INDICATORS ON THE POSTAL MARKET ERGP REPORT WITH DATA ON INDICATORS ON THE POSTAL MARKET April 2013 Contents List of Tables... 3 List of Figures... 3 Country codes... 5 Executive Summary... 6 Part 1 Background and objectives... 8 Part

More information

ECCE Standing Committee Education & Training

ECCE Standing Committee Education & Training ECCE Standing Committee Education & Training Impact of the Bologna Process on Civil engineering education in Europe Prof. Iacint Manoliu 45 th ECCE meeting Bucharest, 11 May 2007 SCD Civil Engineering

More information

EUF STATISTICS. 31 December 2013

EUF STATISTICS. 31 December 2013 . ESTIMATES OF EU TURNOVER VOLUMES. Turnover volumes by product, allocation and notification (Estimates of EU s, Millions of ) Estimate of the EU % on Turnover Significance of the sample on total turnover

More information

Report on the Possibility for Insurance Companies to Use Hedge Funds 1

Report on the Possibility for Insurance Companies to Use Hedge Funds 1 CEIOPS-DOC-06/05 Rev.1 Report on the Possibility for Insurance Companies to Use Hedge Funds 1 December 2005 1. Introduction The purpose of this survey is to gather information at Community level on the

More information

The energy industry and energy price issues in Slovakia during recent years 1

The energy industry and energy price issues in Slovakia during recent years 1 The energy industry and energy price issues in Slovakia during recent years 1 Ing. Mikulá Cár, PhD. National Bank of Slovakia The energy industry and energy prices are becoming a subject of political decisions

More information

DOCTORAL (Ph.D) THESIS

DOCTORAL (Ph.D) THESIS DOCTORAL (Ph.D) THESIS UNIVERSITY OF KAPOSVÁR FACULTY OF ECONOMIC SCIENCE Department of Finance and Economics Head of Doctors School: DR. GÁBOR UDOVECZ Doctor of the Hungarian Academy of Sciences Supervisor:

More information

Doing Business in Poland

Doing Business in Poland Doing Business in Poland Warsaw December 14, 2011 Dr. Marcin Piątkowski Senior Economist, the World Bank Assistant Professor, TIGER, Kozminski University, Outline Results of the World Bank s Doing Business

More information

BUILDING THE DIGITAL SINGLE MARKET CROSS BORDER DEMAND FOR CONTENT SERVICES

BUILDING THE DIGITAL SINGLE MARKET CROSS BORDER DEMAND FOR CONTENT SERVICES Special Eurobarometer 366 BUILDING THE DIGITAL SINGLE MARKET CROSS BORDER DEMAND FOR CONTENT SERVICES REPORT Fieldwork: April - May 2011 This survey has been requested by the European Commission, Directorate-General

More information

ATTITUDES OF EUROPEANS TOWARDS WASTE MANAGEMENT AND RESOURCE EFFICIENCY

ATTITUDES OF EUROPEANS TOWARDS WASTE MANAGEMENT AND RESOURCE EFFICIENCY Flash Eurobarometer ATTITUDES OF EUROPEANS TOWARDS WASTE MANAGEMENT AND RESOURCE EFFICIENCY REPORT Fieldwork: December 0 Publication: June 0 This survey has been requested by the European Commission, Directorate-General

More information

Market analysis on Factoring in EU 25+2

Market analysis on Factoring in EU 25+2 EIF Project "Jeremie" General Report on Factoring 1 Market analysis on Factoring in EU 25+2 prepared by International Factors Group (IFG) for European Investment Fund (EIF) project JEREMIE Preliminary

More information

SESAR. Luftfahrttechnologie - Auftaktveranstaltung zum 7. EU-Forschungsrahmenprogramm Wien, 4 Dezember 2006

SESAR. Luftfahrttechnologie - Auftaktveranstaltung zum 7. EU-Forschungsrahmenprogramm Wien, 4 Dezember 2006 Luftfahrttechnologie - Auftaktveranstaltung zum 7. EU-Forschungsrahmenprogramm Wien, 4 Dezember 2006 SESAR Christian Pusch EUROCONTROL Experimental Centre European page 1Organisation of 22 for the Safety

More information

SMES, RESOURCE EFFICIENCY AND GREEN MARKETS

SMES, RESOURCE EFFICIENCY AND GREEN MARKETS Flash Eurobarometer 381 SMES, RESOURCE EFFICIENCY AND GREEN MARKETS SUMMARY Fieldwork: September 2013 Publication: December 2013 This survey has been requested by the European Commission, Directorate-General

More information

OVERVIEW OF RESEARCH PROJECTS IN THE ICT DOMAIN 2012. ICT statistical report for annual monitoring (StReAM)

OVERVIEW OF RESEARCH PROJECTS IN THE ICT DOMAIN 2012. ICT statistical report for annual monitoring (StReAM) OVERVIEW OF RESEARCH PROJECTS IN THE ICT DOMAIN 2012 ICT statistical report for annual monitoring (StReAM) 12 June 2013 ACRONYMS AAL: ACC: ARTEMIS: ASS: BPN: CA: CIP: CP: CSA: EEA: EPO: FP: FET: GBAORD:

More information

ATTITUDES OF EUROPEANS TOWARDS BUILDING THE SINGLE MARKET FOR GREEN PRODUCTS

ATTITUDES OF EUROPEANS TOWARDS BUILDING THE SINGLE MARKET FOR GREEN PRODUCTS Flash Eurobarometer 367 ATTITUDES OF EUROPEANS TOWARDS BUILDING THE SINGLE MARKET FOR GREEN PRODUCTS SUMMARY Fieldwork: December 2012 Publication: July 2013 This survey has been requested by the European

More information

Special Eurobarometer 423 CYBER SECURITY SUMMARY

Special Eurobarometer 423 CYBER SECURITY SUMMARY Special Eurobarometer 423 CYBER SECURITY SUMMARY Fieldwork: October 2014 Publication: February 2015 This survey has been requested by the European Commission, Directorate-General for Home Affairs and co-ordinated

More information

Insurance corporations and pension funds in OECD countries

Insurance corporations and pension funds in OECD countries Insurance corporations and pension funds in OECD countries Massimo COLETTA (Bank of Italy) Belén ZINNI (OECD) UNECE, Expert Group on National Accounts, Geneva - 3 May 2012 Outline Motivations Insurance

More information

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU 92/2015-27 May 2015 Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU In the European Union (EU), household electricity prices 1 rose by

More information

Capital Market Development in CESEE and the Need for Further Reform

Capital Market Development in CESEE and the Need for Further Reform Capital Market Development in CESEE and the Need for Further Reform Krisztina Jäger-Gyovai 1 Domestic capital markets in Central, Eastern and Southeastern Europe (CESEE) are still less developed than capital

More information

SURVEY OF SCHOOLS: ICT IN EDUCATION COUNTRY PROFILE: CZECH REPUBLIC

SURVEY OF SCHOOLS: ICT IN EDUCATION COUNTRY PROFILE: CZECH REPUBLIC SURVEY OF SCHOOLS: ICT IN EDUCATION COUNTRY PROFILE: CZECH REPUBLIC November 2012 This report was prepared by the Contractor: European Schoolnet and University of Liège under contract SMART 2010/0039.

More information

Minimum Wage Protection Current German and European Debates

Minimum Wage Protection Current German and European Debates Årskonferanse i Fafo Østforum Fire år etter EU-utvidelsen: Status og framtidsperspektiver Oslo, 3 June 2008 Minimum Wage Protection Current German and European Debates Thorsten Schulten Wirtschafts- und

More information

[Written by the Centre for Strategy and Evaluation Services] [May 2015]

[Written by the Centre for Strategy and Evaluation Services] [May 2015] Study on the compliance by Member States on the time needed to get licences and permits to take up and perform the specific activity of an enterprise as from beginning of 2014 [Written by the Centre for

More information

Special Eurobarometer 390 CYBER SECURITY REPORT

Special Eurobarometer 390 CYBER SECURITY REPORT Special Eurobarometer 390 CYBER SECURITY REPORT Fieldwork: March 2012 Publication: July 2012 This survey has been requested by the European Commission, Directorate-General Home Affairs and co-ordinated

More information

E-COMMUNICATIONS HOUSEHOLD SURVEY

E-COMMUNICATIONS HOUSEHOLD SURVEY Special Eurobarometer 381 E-COMMUNICATIONS HOUSEHOLD SURVEY REPORT Fieldwork: December 2011 Publication: June 2012 This survey has been requested by the European Commission, Directorate-General for Information

More information

Special Eurobarometer 379 FUTURE OF EUROPE REPORT. This survey has been requested by the European Commission, Directorate-General for Communication.

Special Eurobarometer 379 FUTURE OF EUROPE REPORT. This survey has been requested by the European Commission, Directorate-General for Communication. Special Eurobarometer 379 FUTURE OF EUROPE REPORT Fieldwork: December 2011 Publication: April 2012 This survey has been requested by the European Commission, Directorate-General for Communication. http://ec.europa.eu/public_opinion/index_en.htm

More information