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Finance and Monetary Affairs in the EU

Latest news on economic and monetary affairs in the European Union.

Calm markets await FOMC statement - Euro currency news daily 25 July 2017, 11:56 CET
 

EU eyes cheaper non-euro cross-border payments 24 July 2017, 23:01 CET
The EU Commission launched Monday a public consultation on ways to reduce the costs of cross-border payments within the European Union in currencies other than the Euro.

Press release on the Interim Report of the European Commission's High-Level Expert Group on Sustainable Finance 21 July 2017, 00:09 CET
The members of the Global Green Finance Council (GGFC) support the transition to a sustainable economy and, during a recent meeting, welcomed the interim report of the European Commission's High-Level Expert Group (HLEG) on sustainable finance. The financial sector can indeed play a key role in this transition especially by enabling the mobilisation and allocation of the considerable capital that will be required to finance it.

41 million fake goods seized at EU borders, China main source 20 July 2017, 18:41 CET
Customs authorities detained more than 41 million fake and counterfeit products valued at over EUR 670 million at the EU's external borders in 2016, according to figures released Thursday.

Brussels supports end to Greek deficit procedure 13 July 2017, 21:58 CET
The EU Commission recommended Wednesday that the Council close the Excessive Deficit Procedure for Greece, hailing it as a positive signal of financial stability and economic recovery in the country.

Western Balkans: Regional Economic Area 13 July 2017, 14:09 CET
The 2017 Western Balkans Summit in Trieste, Italy on 12 July 2017 discussed concrete avenues to strengthen regional cooperation and thus further advance the EU integration process of the Western Balkans. The Western Balkan partners agreed on an action plan to develop a Regional Economic Area aimed at boosting the attractiveness of the region to encourage investment and generate jobs, especially through smart growth, start-ups and scale-ups.

EU finance ministers approve plan for bad loans 13 July 2017, 13:58 CET
EU finance ministers at their Council meeting Wednesday approved an action plan to address the problem of non-performing loans in the banking sector, to reduce stocks and prevent their future emergence.

EU Stability and Growth Pact 13 July 2017, 13:48 CET
The Stability and Growth Pact (SGP) is a set of rules designed to ensure that countries in the European Union pursue sound public finances and coordinate their fiscal policies.

Improving Energy Security in Europe: The Role of Infrastructure Investment 11 July 2017, 18:14 CET
The global sphere is facing increased debate and discussion surrounding the use of renewable energy sources and environmental protections. New projects including battery energy storage, wind farms, and solar panels support the drive for clean energy and put pressure on countries relying upon unsustainable means.

Nord LB, SMBC, and NN Investment Partners B.V. to discuss optimal profitability from alternative energy sources 04 July 2017, 14:06 CET
Outdated modes of energy sourcing and dependence on external supplies drive a need to strengthen European energy security. New forms of energy and updated infrastructure through renewable energy would serve to remedy this reliance on energy suppliers and strengthen Europe’s commitment to the Paris Agreement.

Brussels announces portable EU pension plan 29 June 2017, 18:23 CET
The EU Commission announced plans Thursday for a new class of pan-European pension products, allowing European consumers to benefit from more choice when saving for retirement.

Personal Pensions Products 29 June 2017, 18:18 CET
Personal pensions (also known as 'private pensions') are long-term savings products that individuals contribute to on a voluntary basis, complementing state and workplace pensions. They have a role to play in linking long-term savers with long-term investment opportunities. The Commission is exploring ways to increase choices for retirement saving and build an EU market for personal pensions.

Pan-European Personal Pension Product (PEPP) 29 June 2017, 18:12 CET
The European Commission launched on 29 June a new pan-European personal pensions label to help consumers save for retirement.

European Union mulls future finance post-Brexit 29 June 2017, 00:04 CET
In its fifth reflection paper on the future of the European Union, published Wednesday, the Commission looks at options for financing the EU budget following the departure of the United Kingdom.

Future of EU budget: European Commission proposal neglects the Paris Climate Agreement 28 June 2017, 20:46 CET
The European Commission has published its 'Reflection paper on the future of EU finances' today, the last of five policy reflection papers within the so called "White paper process on the future of Europe".

New EU insolvency rules enter in force 27 June 2017, 22:21 CET
New rules on cross-border insolvency proceedings, first proposed in 2012 and adopted by EU legislators in 2015 to facilitate debt recovery, entered into force throughout the European Union on Monday.

Brussels adopts guidelines for disclosure of non-financial information 26 June 2017, 23:49 CET
Guidelines on disclosure of environmental and social information were adopted Monday by the Commission to help firms disclose non-financial information in a consistent and comparable manner.

Non-Financial Reporting 26 June 2017, 23:44 CET
EU law requires large companies to disclose certain information on the way they operate and manage social and environmental challenges. This helps investors, consumers, policy makers and other stakeholders to evaluate the non-financial performance of large companies and encourages these companies to develop a responsible approach to business. Directive 2014/95/EU lays down the rules on disclosure of non-financial and diversity information by large companies. This directive amends the accounting directive 2013/34/EU. Companies are required to include non-financial statements in their annual reports from 2018 onwards.

How EU rules apply to banks with a capital shortfall 26 June 2017, 14:10 CET
The European Commission approved on 25 June, under EU rules, Italian measures to facilitate the liquidation of Banca Popolare di Vicenza (BPVI) and Veneto Banca under national insolvency law.

EU transparency rules target tax avoidance planners 21 June 2017, 22:31 CET
The EU Commission proposed Wednesday tough new transparency rules for intermediaries - tax advisers, accountants, banks and lawyers - who design and promote tax planning schemes for their clients.

Transparency for intermediaries 21 June 2017, 22:28 CET
On 21st June 2017, the European Commission proposed new transparency rules for intermediaries that design or sell potentially harmful tax schemes. Intermediaries are firms or persons, such as consulting firms, banks, lawyers, tax advisors, accountants, etc. which can help their clients to set up schemes to reduce their tax bills. Most services provided by intermediaries are legitimate. However, recent cases, such as the Panama Papers, exposed the role that some of these intermediaries may play in international tax avoidance and evasion by designing schemes that are specifically set up to help their clients escape taxation.

16th Benelux Infrastructure Forum returns to Amsterdam this November 21 June 2017, 12:55 CET
SMi Reports: Benelux Infrastructure Forum returns to Amsterdam on 22nd -23rd November 2017 to explore new financing mechanisms and alternative markets for future investments.

EU FinTech consultation: put needs of end-users first 14 June 2017, 14:10 CET
Responding to the EU consultation on financial technology, also known as FinTech, the European Banking Federation is submitting a response which underlines its desire to see the creation of a customer-centric and inclusive ecosystem in which all actors, ranging from small start-ups to established multinational banks, are committed to serving clients with innovative financial services.

Proposal to amend the European Market Infrastructure Regulation (EMIR) 13 June 2017, 23:45 CET
The European Commission proposed on 13 June 2017 more robust supervision of central counterparties (CCPs), targeted reforms to further improve the financial stability of the European Union.

EU gives conditional approval to Nordic Capital buy of Intrum Justitia 13 June 2017, 22:51 CET
The EU Commission approved Tuesday the acquisition of Intrum Justitia by Nordic Capital, conditional on the divestment of overlapping debt collection and debt purchasing activities.