- Slovakia looks at the EU’s new political cycle
- The Slovak voice in Brussels
- EU membership has brought a need for self-improvement
- Courage in the face of opportunity
- Labor market: Boom, crisis, new reality
- Positive side effects of the banking labor market decline
- Top Priorities of Slovakia’s MEPs
- European Commission: Immediate effects of its decisions
- EU divided over financial transaction tax
- US-EU free trade agreement might boost Slovak economy
- Events of the season
- Data protection in Slovakia – recent changes – were they necessary?
- Cross-border flow of personal data
- Data protection: A European export
- The right to be forgotten
- Steel industry: dying or alive and well?
The European Parliament elections of 2014 initiated a process of
appointing new leadership for EU institutions. However, current
discussions are not only about the top jobs in Brussels, but they are
also more forward-looking. At the June European Council, Member States,
for the first time, adopted strategic priorities for the Union for the
upcoming five years. On that basis, the new President of the European
Commission, Jean Claude Juncker, presented his own set of ten key
priority areas, which should define the focus of the new European
Commission. Jean Claude Juncker claims that he wants to rebuild bridges
in Europe following the financial crisis. Fundamental challenges for the
EU are to boost competitiveness, growth and employment. It is only if
the EU acts decisively in these areas, that it will be able to win back
the confidence of its citizens.
When Slovakia joined the European Union, the business sector was full of expectations. Companies created specialized EU Affairs departments. Some even opened offices to have representation in Brussels. Companies invested resources into training their staff on EU-related matters.
Accessing the European Union has brought Slovakia a number of pros and cons, one of the pros being the possibility to benchmark its economy and business environment according to its peers in the EU. On the one hand, it might appear to be a narrow-minded approach, but on the other hand, it is a simple test of Slovak competitiveness in the global world, and motivation to improve.
Slovakia’s accession to the European Union has dramatically transformed the opportunities for business. This change had a particular impact for existing businesses with an ambition to expand to foreign markets. We have talked to Miroslav Krempaský, CEO of Millennium, about how their business has transformed over the years in relation to the changing business environment.
European policy and globalization have resulted in many changes in the labor market over the last ten years. What developments in the labor market have recruiters from Grafton Recruitment Slovakia, the Czech Republic and Poland seen since their countries have joined the European Union?
Slovakia saw its future in the EU from the Velvet Revolution in 1989 onwards. In late 1998, the preparation for EU accession was accelerated tremendously, and thorough preparation in many areas, was carried out until the accession in 2004. This included the transformation of the banking sector – privatization of state-owned banks to strategic investors and getting know-how, important for long-term profitability and sustainability. This transformation process meant that many of the institutions were well-prepared for the stormy times ahead.
The 24th of May 2014 was the date of the third European elections in Slovakia. Thirteen elected MEPs from Slovakia already took their seats in the European Parliament among their 738 colleagues from the remaining 27 Member States for a five-year period.
Since Slovakia became a member state of the European Union in 2004, Slovak companies have gradually adapted to the applicability of European Union law and the European Union’s system of transnational independent institutions; both of which directly or indirectly influence the business environment in each member state. It is the European Commission representing and promoting the interests of the EU that might cause wrinkles on the foreheads of many business people.
“All markets. All instruments. All actors.” is the motto of the Commission, or at least 11 EU Member States, in relation to the contemplated introduction of a financial transaction tax (FTT). The scope of the FTT should cover transactions on regulated markets as well as over-the-counter transactions, and should apply with respect to numerous types of transactions of financial institutions.
The emerging free trade agreement between the EU and the US – the Transatlantic Trade and Investment Partnership (TTIP) – will bring numerous benefits for a small and open economy like Slovakia’s. The country with the fourth highest level of trade openness in the world will benefit predominantly from higher economic growth, creation of new jobs, increase in foreign trade and better standards of living.
The concert season of 2013/14 was a very challenging one within the rich musical life of Bratislava. That’s why we tried to attract the audience with innovative ideas, and, in a way, compete with the concerts and performances in the Slovak National Theatre and The Slovak Philharmonic.
July 1, 2013, was a game changing date for data protection in Slovakia. On that day, a new Act on Personal Data Protection came into effect, swiftly followed by a wave of disillusionment amongst both the general public and the business community.
In today’s world of global information technology, with the situation that companies are trying to find suitable methods to consolidate their internal operation or optimize their client services, for example in the form of outsourcing, very few companies can operate without the transfer of personal data to countries other than their country of primary operation.
Following the recent “Google case” recognizing the right to be forgotten amid the proposed EU data protection reform possibly introducing changes by year’s end, compliant data protection is as relevant as ever. One important compliance aspect not to be overlooked is the transfer of personal data.
The Court of Justice of the European Union (CJEU) recently handed down an eagerly-awaited decision in the Google Spain case1 under which it established a so-called “right to be forgotten” on the Internet.
In January, the European Commission presented a proposal of the EU’s 2030 energy and climate framework, setting out a goal of a Europe which, by 2030, emits 40 percent less CO2 compared to 1990, generates 27 percent of its energy from renewables, and employs a reserve mechanism to regulate its carbon market.