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Finance and Monetary Affairs in the EU

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

Euro gains as UK government loses Brexit appeal -Euro currency news daily 24 January 2017, 13:05 CET
 

European Pillar of Social Rights website 23 January 2017, 17:24 CET
Commission president Juncker, State of the Union, 9 September 2015: "I will want to develop a European Pillar of Social Rights, which takes account of the changing realities of the world of work and which can serve as a compass for the renewed convergence within the euro area." On 8 March 2016, the European Commission put forward a first, preliminary outline of what should become the European Pillar of Social Rights.

EU sets sights on new stimulus for capital markets union 22 January 2017, 23:57 CET
The European Commission launched a public consultation Friday with a view to developing faster and more ambitious progress towards a Capital Markets Union (CMU).

MEPs reject weak Commission money-laundering blacklist 22 January 2017, 12:33 CET
MEPs voted Thursday to reject the EU Commission's blacklist of countries deemed to be at risk of money laundering and terrorist financing, saying the list was too limited, and should be expanded.

New debt recovery rules enter into force 18 January 2017, 23:49 CET
Businesses, particularly small and medium-sized enterprises (SMEs), will be able to benefit from new EU rules to recover debt from debtors in other EU countries which came into force on Wednesday.

European Account Preservation Order - faster, cheaper and more efficient debt recovery 18 January 2017, 23:41 CET
Around 1 million smaller business (SMEs) in the EU face problems with cross-border debts. This is about EUR 600 million lost every year for these small companies.

Preservation of bank accounts 18 January 2017, 23:25 CET
Current fragmentation of national rules on enforcement severely hampers debt collection within the EU. Creditors seeking to enforce a civil court order in another EU country are confronted with different legal systems, procedural requirements and language barriers which entail additional costs and delays. Regulation 655/2014 establishing a European Account Preservation Order procedure ("EAPO") establishes a new uniform European procedure for the preserving of bank accounts, which will allow creditors to preserve the amount owed in a debtor's bank account located in the EU.

EU-U.S. (re)insurance deal boost for transatlantic trade 17 January 2017, 18:55 CET
More than 20 years of talks between the EU and the United States ended successfully Friday with a bilateral agreement set to boost transatlantic trade in insurance and re-insurance.

Concerns raised on European Commission legislative proposal for European Services e-card 12 January 2017, 18:40 CET
Following the publication of the European Commission’s legislative proposal for a European Services e-card, Nicolas Jeanmart, head of personal insurance, general insurance and macroeconomics at Insurance Europe, commented:

MEPs call for protection for whistleblowers 10 January 2017, 00:10 CET
A committee of the European Parliament called on the Commission Monday to urgently propose an "effective and comprehensive European whistleblower protection programme".

EC toughens measures against terrorist financing 22 December 2016, 00:54 CET
The European Commission adopted a package of measures on Wednesday designed to strengthen the EU's capacity to fight the financing of terrorism and organised crime.

ESMA updated Q&A on Prospectus Directive 20 December 2016, 11:16 CET
The European Securities and Markets Authority (ESMA) has published an updated questions and answers (Q&A) document on the application of the Prospectus Directive. he Q&A includes one new question and answer on the application of the ESMA guidelines on Alternative Performance Measures to prospectuses. The question clarifies how to apply the guidelines when constituent parts of a prospectus straddle the date on which ESMA's Alternative Performance Measures Guidelines came into force (3 July 2016). The purpose of this Q&A is to promote common supervisory approaches and practices in the application of the Prospectus Directive and its implementing measures.

Canada-EU talks mull trade investment court 14 December 2016, 00:03 CET
The EU Commission and Canada co-hosted Tuesday the first exploratory discussions with government representatives from around the world on establishing a multilateral investment court.

One in four Europeans over 15 is a smoker 07 December 2016, 23:50 CET
Nearly 1 in every 4 persons aged 15 or over in the EU was a current smoker in 2014, according to figures published Wednesday by Eurostat, the EU's the statistical office.

HSBC, JP Morgan, Crédit Agricole fined EUR 485m for rate rigging 07 December 2016, 23:04 CET
Crédit Agricole, HSBC and JPMorgan Chase were fined a total of EUR 485m by the EU Commission Wednesday for their participation in the Euribor cartel in euro interest rate derivatives.

Launch of Single Euro Payments Area (SEPA) Instant Credit 01 December 2016, 17:15 CET
The European Payments Council (EPC) launched on 30 November the Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme. European Payment Service Providers (PSPs) now have one year to get ready to process the first SCT Inst transactions in November 2017. The scheme allows them to propose innovative, digital, and fast payment solutions to their customers.

Brussels refocuses investment plan following evaluation 29 November 2016, 23:58 CET
The EU Commission is to extend its European Fund for Strategic Investments (EFSI), the core of its flagship Investment Plan for Europe, following evaluation reports published Tuesday.

Central Counterparties Recovery and Resolution Proposal 29 November 2016, 22:57 CET
The European Commission proposed on 28 November new rules to ensure that systemic market infrastructures in the financial system, known as Central Counterparties (CCPs), can be dealt with effectively when things go wrong.

New reforms to boost resilience of European banks 24 November 2016, 18:42 CET
The EU Commission unveiled a package of proposals Wednesday to boost the resilience of European banks against potential shocks, and to support smaller businesses and infrastructure investment.

EBF takes note of EU plans to revise regulatory framework 24 November 2016, 13:46 CET
The European Banking Federation takes note of the comprehensive package that the European Commission presented today to revise the regulatory framework for financial services in the EU.

Insolvency, Restructuring and Second Chance: proposal for a directive 24 November 2016, 00:22 CET
The European Commission presented a set of European rules on business insolvency on 22 November.

Monetary policy supporting EU growth: ECB's Draghi 22 November 2016, 23:09 CET
The Eurozone economy has shown "remarkable resilience" in the face of adverse developments, as growth continues at a moderate pace, European Central Bank chief Mario Draghi told Euro-MPs Monday.

UCITS Directive - updated questions and answers 22 November 2016, 00:08 CET
The European Securities and Markets Authority (ESMA) has published an updated questions and answers document on the application of the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS). The Q&A includes two new questions and answers on how investment limits should be applied where a UCITS wants to invest in an umbrella fund. The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of the UCITS Directive and its implementing measures.

EU settles Budget deal for 2017 21 November 2016, 18:51 CET
EU finance ministers and Euro-MPs reached a provisional deal on the 2017 EU budget in the early hours of Thursday morning, with money focused on tackling the migration crisis and reinforcing security.

EU charts course for Euro economy 17 November 2016, 22:54 CET
The EU Commission adopted its 'Autumn economic package' Wednesday, setting out economic and social priorities and completing its assessment of eurozone states' draft budget plans.