EU regulators initially requested that Google make a response prior to July 27.

But, like financial regulation, nuclear regulation in the EU, even with its Euratom treaty, is still essentially national. And, given the deep disparities in nuclear power s importance for European economies, consensus on regulatory harmonization is hard to reach.

The EU continues to monitor the situation in South Asia.

But Europe s policymakers claim to be making progress toward a so called banking union, which means collective banking supervision, rather than a merger of banks themselves. In September, the European Commission announced a plan to make the European Central Bank the supervisor of all 6,000 of Europe s banks.

On 4 February 2005, the European Union Ministers responsible for gender equality policy and the European Commissioner with responsibility for this portfolio participated in a European Ministerial Conference in Luxembourg.

Meanwhile, the traditional forum for EU US talks, the Financial Markets Regulatory Dialogue which brings regulators together at irregular intervals to haggle over lists of divergent regulations one by one is all too often slow and circumvented.

Likewise, the European Union, in contrast to the United States, regards the leverage ratio as a supervisory optional extra, known as a Pillar 2 measure (which permits supervisors to add additional capital buffers to address a particular bank s idiosyncratic risks). And, though both the US and the EU prohibit proprietary trading, they each define it differently.

EUFOR works in unison with the HR EUSR, European Union Police Mission, the European Union Monitoring Mission and the European Commission's assistance programmes to support both the stabilization and association process and mission implementation plan of the Office of the High Representative.

The European Central Bank has been more thoughtful, though no less enthusiastic, arguing that a banking union should have three objectives. First, stronger eurozone wide supervision should reinforce financial integration, mitigate macroeconomic imbalances, and improve the conduct of monetary policy.

Should Europe Regulate Sovereign Wealth Funds?

Monitoring mechanisms that involve the European Union and the Association of Southeast Asian Nations have been put in place.

The EU would benefit as well, by contributing to the stabilization of a highly volatile area. Subsequently, the EU would monitor Kosovo and prevent any dispute that might turn violent.

The EU Commission has competence on exports of dual use goods from the Community.

Monitoring of amendments in primary and secondary legislation of the EU

Here, the European System of Central Banks could serve as a model. Centralized financial supervision would avoid the need for banks to duplicate reports to different authorities, allow financial rules and supervisory practices to be harmonized, and eliminate distortions to competition.

EU European Union

GoG Government of Georgia

Ms. Struncova (Observer for the European Commission) said that competence would be shared between the EU and its member States.

The refining and petrochemical sector supplies the EU with a large proportion of its fuel, and is also a major source of tax revenue. The downstream sector, together with fuels distribution, contributes a total of around 240 billion annually to treasury coffers.

EUFOR is contributing to the Union's political engagement, its assistance programmes and its ongoing police and monitoring missions.

But, to do so, we will need to make EU institutions more efficient, with better regulation and a lower administrative burden. Common institutions are needed to ensure that all EU countries interests are protected, and to act as a bridge between eurozone and non eurozone member states.

It welcomed the intention of the Office of Internal Oversight Services (OIOS) to give particular attention to following up its report on the management of that Tribunal.

Citizens of the EU can move freely within the Union (Britain wants to stop this, too, though it is unlikely to succeed). But economic migration from non EU countries, under carefully managed conditions, is both legitimate and imperative.

At our invitation, the European Union and ASEAN contributing countries have provided monitors for the implementation of the peace agreement.

The European Union will monitor customs arrangements, with its mission being reviewed in a year's time.

13. In its response of 11 May 1998 to the Secretary General, Denmark reported that since it had joined the European Union (EU) the management of fishery resources had become an EU exclusive competence.

End User Controls are also governed by art.

In the European Union, the focus of regulation is primarily on environment, health and safety (EHS).

I am proud that Irish soldiers are among those taking part in the monitoring mission run by the European Union and the Association of Southeast Asian Nations (ASEAN).

How might these laudable objectives be achieved? The European Commission has argued that a fully fledged banking union would need to rest on four pillars a single deposit protection scheme covering all EU (or eurozone) banks a common resolution authority and common resolution fund, at least for systemically important and cross border banks a single European supervisor for the same banks and a uniform rule book for prudential supervision of all banks in Europe.

Several European countries indicated that they also controlled those substances in the EU special surveillance list and that other substances not included in that list were being monitored in the context of voluntary cooperation arrangements with the industry and traders.

Central bankers in Europe have always resented the narrow monetary policy mandate given to the ECB under the Maastricht Treaty. Banking supervision was not included among the ECB s objectives, though one article of the treaty gives the system of European central banks as a whole the task of contributing to effective supervision.

We in the European Union have a comprehensive arms control regime.

EUFOR is providing support to the Bosnia and Herzegovina demining activities in the south and east of the country a total of eight supervisory teams are deployed.

The EU is committed to monitoring national implementation in order to improve its effectiveness.

Ms. Struncova (Observer for the European Commission) said that, although the European Commission was responsible for making declarations under the draft convention regarding matters in respect of which it had competence, responsibility for deciding in which areas the European Commission shared competence with member States or had exclusive competence lay with the European Council.

European and international supervision of nuclear material is made by the EU Commission and the IAEA (Euratom Treaty, INFCIRC 193).

At their June summit, Europe s leaders finally recognized the need to rectify this situation, transferring responsibility for banking supervision in the eurozone to the European Central Bank. Given that financial integration is particularly strong within the monetary union, putting the ECB in charge was an obvious choice.

The European Union's actions now take place in the framework of the 24 September 2003 joint declaration of the United Nations and the European Union on cooperation in crisis management.

Unless the new internal market commissioner takes a different view, the European Commission plans to move further along the road to genuine pan European regulation. The report now goes to the European Parliament, which can be expected to push harder for more integration, as it usually does.

Most regulators and market participants agree that Europe's financial markets are dysfunctional. With banking assets amounting to roughly 300 of EU wide GDP, compared to some 70 in the United States, large pools of savings are being left unused.

Any future European finance ministry would oversee the surveillance of both fiscal policies and competitiveness policies, and, when necessary, impose the second stage. Moreover, it would carry out the usual executive responsibilities regarding supervision and regulation of the EU financial sector.

Since the Team's second report, the European Union and Schengen member States have continued to discuss the matter with Committee members and the Team in meetings in Brussels and at a European Union seminar in New York.

Likewise, European states accept the common norms and rules of the Organization for Security and Cooperation in Europe, and are almost always prepared to be regulated by them. Indeed, the European Union is the fruit of a long, continuous effort to strengthen common norms and rules among European states.

The EU would also like to commend the work of the 1267 Committee's Analytical Support and Sanctions Monitoring Team.