Nato summit and key nature restoration vote This WEEK

Nato allies are also expected to endorse a proposal to invest a minimum of two percent of GDP in defence annually. In 2023, the estimates show that defence expenditures have grown by 8.3 percent — which is "the biggest increase in decades," according to Stoltenberg.

This will be Finland's first summit as a Nato member.

In addition to his participation in the Nato summit, US president Joe Biden is also expected to travel to the UK and Finland this week.

EU high-level officials will meet with Japanese prime minister Fumio Kishida on Thursday (13 July) to discuss several topics, including Russia's aggression against Ukraine and China's role. This will be the 29th EU-Japan summit held in Brussels.

On the same day, the eurogroup will look into the fiscal policy guidance for 2024 and continue discussions on the digital euro.

EU economy ministers will on Friday (14 July) discuss the commission's revision of the EU's long-term budget, looking at how to increase the so-called own resources and the proposal to grant €50bn in support to Ukraine from the 2024-27 EU budget.

Fate of nature restoration law

In Strasbourg, MEPs will discuss on Tuesday the controversial nature restoration law — with a vote on Wednesday to establish the parliament's position.

This follows a dead heat 44-44 vote in the environment committee. The law, which aims to restore degraded land and sea areas, has faced opposition led by the centre-right European People's Party (EPP).

First MEPs will vote on the EPP proposal to reject the commission's proposal. If there is no majority, then they will vote on the amendments tabled by political groups.

EU environment ministers will meet Monday and Tuesday (10 and 11 July) in Spain for an informal meeting focused on soil and water management, reducing pollution and the upcoming UN climate talks COP28.

On Tuesday and Wednesday (11 and 12 July), EU energy ministers will also hold an informal meeting to talk about the reforms of the electricity market, interconnections and energy files under the Fit for 55 Package.

Metaverse and semiconductors

Also on Tuesday, the commission is scheduled to present its strategy on virtual words, unveiling the EU's vision for the metaverse, the Internet of Things, blockchain and extended reality.

On the same day, the EU parliament will vote on the draft proposal to protect journalists against abusive lawsuits, paving the way for negotiations with EU member states.

MEPs will vote on Tuesday on the EU Chips Act, a key piece of legislation which aims to increase the production of semiconductors in the EU to 20 percent by 2030.

Following the latest tragedy in the Mediterranean where at least 500 people drowned last month, MEPs are expected to discuss the role of NGOs in search and rescue missions at sea on Wednesday.