In today's monetary dialogue I asked @Lagarde about profits driving inflation: (1) she acknowledged the existence of this effect, (2) deplored the lack of data on profits and (3) called on competition authorities to look at price behaviours (below the threshold of abuse):👇 1/ I fully agree with @Lagarde's understanding of the situation: profits can drive inflation as was also shown in a remarkable paper by @IsabellaMWeber and Evan Wasner for the US:

https://twitter.com/IsabellaMWeber/status/1630322490559037440

Let's see how that will play out. As a reminder: Recital 11 of the legislative text that the FDP wanted to veto. You can see: No political gain for this stunt! But a weakening of the ordinary legislative procedure. What a disaster. What do we know about the implementation? 🧵

https://twitter.com/TimmermansEU/status/1639553948179742720

1/ There will be the confirmatory adoption by the Council of the unchanged 2035 end of the combustion engine (amending Regulation (EU) 2019/631 as regards strengthening the CO2 emission performance standards for new passenger cars).

Was steckt hinter dem Zaubertrick der Kommission beim #VerbrennerAus, das @Wissing dazu gebracht, seinen verantwortungslosen Widerstand einzustellen? Schnell gesagt: nicht viel. Ein kurzer Thread: 1/ Bereits in dem Gesetzgebungstext zum #VerbrennerAus, wie ihn das Parlament angenommen hat (europarl.europa.eu/doceo/document…), steht drin, was Wissing jetzt bekommen hat: der rechtlich unverbindliche Erwägungsgrund 11 wird in eine rechtlich unverbindliche Erklärung übertragen.

Die Kommission hat heute ihren Vorschlag für ein #RechtaufReparatur vorgestellt. Worum geht es? Was muss verbessert werden, damit wir von einem echten Recht auf Reparatur sprechen können: Erste Gedanken in Tweetform

https://twitter.com/repasi/status/1638556968422981633

The @EU_Commission has presented its proposal for a Right to Repair (#RightToRepair) (👉 commission.europa.eu/law/law-topic/…). Good to finally have a proposal, but it's underambitious for achieving its goal. Let's have a closer look: a🧵 1a/ Core to the proposal is the obligation to repair in Article 5. Good: irrespective of the location of the producer, a good must be repaired by somebody if requested by the consumer. Bad: Possibility to refuse the request by reference to the blurry concept of 'impossibility'.

EU found an antidote to Hungarian blackmailing: Learn and remember. 🇭🇺 withdrew its veto against corporate minimum tax (15%) and Ukrainian financial support. In return, 55% instead of 65% of cohesion funds remain frozen due to rule-of-law conditionality: politico.eu/article/eu-dea… Of course, it should be noted that we speak of 55% of cohesion funds that are suspended, which equals an amount of 6.3bn Euro (instead of 7.5bn Euro which the Commission originally proposed). So that makes 18% of the enture EU funds that Hungary receives. BUT: ...

I raised today an action for annulment in my capacity as MEP at the CJEU against the Taxonomy Delegated Act. The @EU_Commission has exceeded its powers. Moreover, single MEPs must get an enforceable minority right at the CJEU to review a violation of their rights. A thread 👇🏻 1️⃣ With the delegated act the COM qualified energy production from nuclear power and fossil gas as sustainable economic activities. Dealing with nuclear power and gas is, however, a political and not a technical question. It was not for the COM to decide: eulawlive.com/op-ed-the-taxo…

German chancellor @OlafScholz just held a remarkable speech in Prague on the future of Europe. (1) It approves the idea of @EmmanuelMacron to create a European Political Community with prospective accession countries. (2) It suggest a switch from unanimity to majority voting. 1/6 (3) It prefers majority voting to enhanced cooperation. (4) As a step toward majority voting the constructive abstention should be introduced. (5) The internal market must be upgraded to a real circular European economy. (6) In terms of migration we need more legal migration. 2/6