The committee's recommendation called for updates to the Seveso Directive rules - first introduced in the 1970s after an accident in the Italian town, Seveso.

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On 6th June 2012 the European Commission finally published its formal proposal for a directive for EU-wide rules for bank recovery and resolution.

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MEPs debated the new directive which primarily focuses on the rules applying to self-employed workers and to people working in the airline sector, on 17 April 2012.

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But much of the decline appears to be structural, caused by new rules like the European working-time directive and a greater preference for shorter hours, including part-time jobs.

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The package, called Capital Requirements Directive 4 (CRD4), brings the EU into line with the so-called "Basel III" rules on banking standards, which set new capital requirements for banks.

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