Issue link: https://maltatoday.uberflip.com/i/1472486
15 maltatoday | WEDNESDAY • 6 JULY 2022 EUROPE These articles are part of a content series called Ewropej. This is a multi-newsroom initiative part-funded by the European Parliament to bring the work of the EP closer to the citizens of Malta and keep them informed about matters that affect their daily lives. These articles reflect only the authors' view. The European Parliament is not responsible for any use that may be made of the information it contains. MEPs approve new rules to rein in Google, Apple, Amazon, Facebook, and Microsoft MEPS have voted in favour of Croatia becoming the 20th member of the eu- rozone as from 1 January 2023. With 539 votes in favour, 45 votes against and 48 abstentions, the Euro- pean Parliament adopted the report stating Croatia fulfils all the criteria for adopting the euro currency. The report noted that, despite the evaluation of Croatia's readiness tak- ing place against the backdrop of the COVID-19 pandemic, high inflation, and Russia's war against Ukraine, Croatia continues to be ready to adopt the euro. MEPs also stated that Croatia al- ready has a higher level of price con- vergence with the eurozone com- pared to other member states on their adoption of the euro. Nonethe- less, Parliament expects sustained ef- forts from the Croatian government to ensure further price convergence and that the introduction of the euro does not lead to artificial price in- creases. "The reforms undertaken by the Croatian Government in the last years have strengthened the econ- omy and paved the way for Croatia joining the common currency. It is clear that becoming a member of the euro is the right decision for the country, its businesses and citizens, as well as various sectors of its econ- omy, such as tourism," Mureșan said. "The adoption of the euro by Cro- atia shows that the single currency is a stimulating and solid project that guarantees greater security and stability for citizens," Margari- da Marques, chair of the EP's euro working group said. Parliament's opinion will be for- warded to Eurozone member states who are responsible for giving the final clearance for Croatia to adopt the euro. Croatia on course to adopt euro after European Parliament gives green light MEPS gave the thumbs up to landmark rules to rein in the power of tech giants such as Google, Amazon, Apple, Face- book, and Microsoft, but enforc- ing them could be an issue due to regulators' limited resources. In addition to the rules known as the Digital Markets Act, or DMA, lawmakers also approved the Digital Services Act, or DSA, which requires online platforms to do more to police the internet for illegal content. Companies face fines of up to 10% of annual global turnover for DMA violations and 6% for DSA breaches. MEPs and EU states had reached a political deal on both sets of rules earlier this year, leaving some details to be ironed out. The two rule books for Big Tech built on EU competition chief Margrethe Vestager's expe- riences with investigations into the companies. She has set up an DMA taskforce, with about 80 of- ficials expected to join up, which critics say is inadequate. MEP Andreas Schwab, who steered the issue through the European Parliament, has called for a bigger taskforce to counter Big Tech's deep pockets. Euro- pean Consumer Organisation, or BEUC, echoed the same wor- ries. "We raised the alarm last week with other civil society groups that if the Commission does not hire the experts it needs to monitor Big Tech's practices in the market, the legislation could be hamstrung by ineffective en- forcement," BEUC deputy direc- tor General Ursula Pachl said in a statement. The DMA is set to force chang- es in companies' businesses, re- quiring them to make their mes- saging services interoperable and provide business users access to their data. Business users would be able to promote competing products and services on a plat- form and reach deals with cus- tomers off the platforms. Companies will not be allowed to favour their own services over rivals' or prevent users from re- moving pre-installed software or apps, two rules that will hit Google and Apple hard. The DSA bans targeted adver- tising aimed at children or based on sensitive data such as religion, gender, race and political opin- ions. Dark patterns, which are tactics that mislead people into giving personal data to compa- nies online, will also be prohib- ited. European Commission vice- president Vestager and industry commissioner Thierry Breton first unveiled the plans in De- cember 2020. They said at the time the rules will regulate both the social media platforms and the huge e-commerce and digital advertising tech giants. The commissioners said the two pieces of legislation will set new "ambitious" regulations for "all digital services, including so- cial media, online market places, and other online platforms" op- erating in the EU. The moves are part of new global moves to rein in Big Tech which owns large parts of social platforms and has a huge power through the commercial might they wield. The Commission under Ms Ve- stager in recent years had focused on imposing large fines on com- petition grounds on Google and other US giants but businesses in Europe have continued to com- plain about the power concen- trated in large tech giants which are in the main US-owned. The two rule books for Big Tech built on EU competition chief Margrethe Vestager's (pictured) experiences with investigations into the companies