Welcome to Better Europe's weekly update on EU Affairs. BUY EUROPEAN WITH OUR TAXPAYER MONEY PLEASE Long overdue, the EU has finally realised that spending taxpayer's money should be in line with our overall European interests, and not just getting the cheapest low-quality products and services. Commissioner Séjourné finally presented his baby this week: a new Public Procurement Act to modernise and simplify public procurement rules, turning 2 trillion euros of annual spending power into a tool for strategic autonomy, resilience, and sustainability, and not just cost-cutting. The core of the plan? Introduce "European preference" criteria for strategic sectors, mandatory quality criteria including optional environmental and social standards, and a push for digitalisation with a single procurement marketplace. But as always, there is a catch: public authorities can ignore the…

Welcome to Better Europe's weekly update on EU Affairs. GOLD IS GEOPOLITICS This week, the Dutch central bank quietly moved 86 tonnes of gold (worth around €10 billion) from the US and Canada to London, as a consequence of “increasing geopolitical unrest”. Even if the UK isn’t even in the EU anymore, physical proximity seems to matter. The Dutch claim they are concerned about access to their gold tout court — they simply want easier access to potential liquidity in times of crisis. The 32% of Dutch Gold now held in London, they argue, can be traded faster as it has overtaken New York as the world’s top foreign gold storage spot. However, that argument didn’t hold when France sold and re-bought 129 tonnes, moving 5% of its reserves from…

Welcome to Better Europe's weekly update on EU Affairs. LA RENTRÉE -- BRUSSELS VS BERLIN Brussels is finally waking up from its summer snooze, as the Parliamentary recess comes to and end next week and politicians are preparing for "la rentrée". This year's school session is special, as some major decisions on the EU's next seven-year budget are due: the size of the EU's central budget and what we will be spending it on. Interestingly, the leader of the Member State that Commission President Ursula von der Leyen "knows best", had made a bold opening move saying he wants to slash "several hundred billion" from the EU's long-term budget and also block the Commission's request for 2 500 new staff. After all, austerity in Berlin means austerity in Brussels. Chancellor…

Welcome to Better Europe's weekly update on EU Affairs. IT'S GAME OVER FOR TEENS ON TIKTOK The EU’s subsidiarity principle does not mean that policy should be made at the most appropriate level, as many people think. It does mean that Europe should act when its member states cannot address a problem effectively on their own – the burden of proof is on the EU. For kids addicted to social media, we almost seem to be there. Even if addiction is fundamentally a -national- health policy issue, the American drug dealers in this case operate on the internal market. And countries such as France, Denmark, Greece, Austria and Flanders (oh wait) have started to take national measures. So Ursula convened a panel of experts who told her how to protect…

Welcome to Better Europe's weekly update on EU Affairs. PLEASE DO NO SIGNIFICANT HARM WITH MY TAX SPENDING The EU has spent years lecturing the private sector and its member states about the holy principle of Do No Significant Harm (DNSH) – it’s not sustainable to do something good while harming another sustainability objective. Like building a hydropower energy plant that requires some deforestation to build an artificial lake powering the plant. So, the EU’s bible of sustainable finance, the Taxonomy Regulation, tells banks, investors, and companies how to measure the “alignment” of their investments with the EU’s environmental goals. Yet when it comes to the EU’s own budget, the DNSH commandment suddenly becomes optional. The EPP now wants to remove these environmental safeguards from the next EU’s multi-year budget,…

Welcome to Better Europe's weekly update on EU Affairs. IRISH PRESIDENCY TO THE RESCUE This week, Ireland took over the rotating EU Council Presidency. And because headmistresses Ursula von der Leyen was busy in Armenia, the College of Commissioners turned their Brussels meeting into an end-of-year school trip. Instead of adopting the public procurement package with Ursula, they chartered a plane to Cork to kick off the Irish Presidency in style. Ireland’s Presidency programme includes the usual gems: advance the Savings and Investment Union, complete the Banking Union, push for a more integrated capital market, and give the Digital Euro another nudge forward. But what do citizens really care about? According to the latest Eurobarometer, the top challenges EU see ahead are defense and security, and energy independence -- and…

Welcome to Better Europe's weekly update on EU Affairs. BRITAIN IS BACK... BUT IS BRUSSELS READY? Exactly ten years after the Brexit referendum that started the velvet divorce between the United Kingdom and "Europe", as Brits tend to refer to the mainland, Keir Starmer’s decision to step down could throw the UK's rapprochement with the EU into doubt. Andy Burnham, the outgoing PM's likely successor, might inherit a country where a majority flirts with the idea rejoining the bloc, but Nigel Farage's Reform UK is actually leading the polls. If the UK applied tomorrow, accession talks might be easier than for other candidates such as those in the Western Balkan region: legally, the UK is pretty much aligned to the EU's rulebook, most of which was copy-pasted into national law.…

Welcome to Better Europe's weekly update on EU Affairs. IF BANK STRESS TEST FAILS, WHO WILL PAY FOR CLIMATE RISK? The European Banking Authority is finally stress-testing banks on climate risk. For the first time in history, climate risk is explicitly included in the next test, designed for 2027. But the biggest question is not whether the banks will pass, but whether the system will hold, and whether taxpayers will end up chipping in if it doesn’t. To the relief of the simplification ayatollahs, the EBA’s new methodology cuts data requirements by 55%. But the real novelty is the inclusion of transition and physical climate risks, even if they are only in a dedicated module without impacting the core results. As of next year, banks will have to test how…