The European Union is going about its regular business. It is putting forth proposals to keep the Doha Round alive, continuing to negotiate a major trade agreement with Mercosur in South America, keeping peace-keeping troops in Bosnia and Herzegovina, spending development aid in numerous poor countries, financially supporting the Palestine Authority while giving Israel preferential access to the EU market, investigating Microsoft's business practices, and battling over the reach and scope of an ambitious new legislative attempt to regulate the chemical industry. The EU Greenhouse Trading Scheme, the largest greenhouse emissions trading scheme in the world, is up and running. The European Central Bank is making monetary policy decisions while the euro makes up almost 20% of central banks' foreign currency holdings. The European Medicines Agency (EMEA) has called for suspending the sale of the children's vaccine Hexavac. The European Court of Justice, for its part, has recently declared illegal a high profile Italian law designed to prevent foreign takeover of Italian energy companies. And the commissioner for Health and Consumer Protection is playing a leading role in the EU's response to the threat of a pandemic of avian bird flu.