The banking union risks missing its goals under plans put forward by the EU's finance ministers this week, warned EP President Martin Schulz. He issued the warning to EU heads of state in a speech at the opening of a Council summit in Brussels on 19 December at which the economic and monetary union would be discussed. Talking about the resolution system for dealing with failed banks, he said: "The slower and less efficient a system is, the more expensive it will ultimately be for everybody."

The Lithuanian Presidency has on December 17 in Brussels reached an agreement with the European Parliament on the EU guarantee to the European Investment Bank to finance operations supporting investment projects outside the Union.

Madam Chair, Mr Chairman,
Director General Lowe, Mr Buzek,
Distinguished Members of European and National Parliaments,
Ladies and Gentlemen,

EU Finance Ministers will seek to agree on the Single Resolution Mechanism (SRM) in the Council meeting on December 18, on the eve of the European Council meeting.

The EU member states' current plans for a common system for winding down troubled banks risk being too complex to work, European Central Bank President Mario Draghi told the Economic and Monetary Affairs Committee on Monday. Parliament's view of these plans, for which the committee is to approve a negotiating mandate on Tuesday, is likely to be much closer to Mr Draghi's vision than that of member states.

Christmas season is a time when more people than usual are sending parcels, and the delivery market is being put to the test. The Commission has today adopted a communication on completing the Single Market for parcel delivery to boost e-commerce in the EU, and to ensure that e-retailers and consumers have access to affordable and high-quality parcel delivery services.

105 Lithuanian companies were allocated LTL 12.8 million (EUR 3.7 million) from the European Union Structural Funds. The support provides an opportunity to participate in international exhibitions, fairs, business missions and make new contacts needed for export development.

Major container line company MSC (Mediterranean Shipping Company), a part of TIL Group which owns the majority of Lithuanian company Klaipedos Smelte shares, intends to transport more cargo by railways. MSC Vilnius, the branch of the company in Lithuania, has signed a letter of intent with Lithuanian Railways (Lietuvos Gelezinkeliai) to establish a large container terminal in Vilnius Intermodal Terminal (VIT) in the nearest future.

Clarification in the first sentence regarding amount of the loan expressed in EUR (81.0 instead of 81.094 million), clarification of the borrowing terms, and clarification of the fact that in such a way the EIB will finance up to 50% of funds related with the implementation of the LNGT project under the Agreement.

In a major step for the Banking Union, the Lithuanian Presidency has on December 11 in Strasbourg reached a political agreement with the European Parliament on the directive setting out the bank bailout rules and paving way for the creation of the Single Resolution Mechanism.