Finance and Monetary Affairs in the EU

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

Due diligence: Retailers and wholesalers highlight need for further improvements during trilogues — 02 June 2023, 00:29 CET

Today, the European Parliament adopted its position on the Corporate Sustainability Due Diligence Directive. Commenting on the outcome of the vote, EuroCommerce Director-General, Christel Delberghe, said:

Parliament raises the bar on the due diligence law, but the devil is in the details — 02 June 2023, 00:21 CET

In a plenary vote today, the European Parliament steps into the final negotiations of the Corporate Sustainability Due Diligence Directive. It takes a significant stride forward in enhancing the due diligence law and in holding companies accountable for environmental harm and human rights violations.

Brussels approves merger between Credit Suisse and UBS — 25 May 2023, 18:58 CET

The European Commission approved the merger between Credit Suisse and UBS unconditionally Thursday, saying it would not raise competition concerns in the European Economic Area.

European Commission proposes insufficient reform to fix broken retail investment market — 24 May 2023, 22:00 CET

To tackle the underperformance of financial markets for consumers, the European Commission has proposed a partial ban on inducements to financial advisors in its Retail Investment Strategy (RIS) published today, by preventing financial retailers from charging consumers for advice where none was given.

EU to create single access point for corporate info — 24 May 2023, 21:46 CET

The EU Parliament and Council reached political agreement Tuesday on the creation of a single point of access to public financial and sustainability-related information about EU companies.

Brussels proposes better deal for retail investors — 24 May 2023, 21:39 CET

A partial ban on inducements to financial advisors, proposed Wednesday by the European Commission, would prevent financial retailers from charging consumers for advice where none was given.

Retail Investment Package - guide — 24 May 2023, 21:32 CET

The European Commission adopted on 24 May a Retail Investment Package that it says places consumers' interests at the centre of retail investing.

EU recommends winding down states' energy support measures — 24 May 2023, 21:05 CET

EU Member States should aim to wind down their energy support measures by the end of 2023, the Commission recommended Wednesday in its 'European Semester Spring Package' guidance.

2023 European Semester Spring Package - guide — 24 May 2023, 20:55 CET

The European Commission on 24 May provided guidance to Member States under the 2023 European Semester Spring Package to build a robust and future-proof economy that secures competitiveness and long-term prosperity for all in the face of a challenging geopolitical environment.

Major EU customs reform to target online fraud — 24 May 2023, 00:13 CET

A major reform of the EU's Customs Union, announced Wednesday by the European Commission, will introduce more modern and efficient customs procedures and target e-commerce and illicit trade online.

MEPs vote to speed up recovery of criminal assets — 24 May 2023, 00:13 CET

MEPs in committee approved new legislation on seizing criminal assets Tuesday to ensure fast and efficient freezing operations everywhere in the EU, and quicker compensation for victims.

Proposed EU customs rules could help block dangerous products — 17 May 2023, 19:02 CET

The European Commission on 17 May published a proposal to improve customs controls. This could help tackle the many challenges authorities face in checking the surge in e-commerce parcels entering the EU for dangerous or non-compliant products. While consumers expect and may think all imports are safe and comply with EU standards, the reality is more complicated.

Customs reform needs to simplify trade — 17 May 2023, 18:55 CET

EuroCommerce - supports the goals of the new proposals on the customs reform package today, introducing new features and processes to take customs to the next level.

New tax transparency rules shine light on EU's crypto-asset sector — 17 May 2023, 17:47 CET

The EU's finance ministers reached political agreement Tuesday on new tax transparency rules for all service providers facilitating transactions in crypto-assets for customers resident in the EU.

EU Customs Reform - guide — 17 May 2023, 17:14 CET

The European Commission put forward proposals on 17 May for the most ambitious and comprehensive reform of the EU Customs Union since its establishment in 1968.

EU's economic outlook improves, challenges remain — 15 May 2023, 18:27 CET

The European economy held up well in the first quarter of 2023 in the face of Russia's aggression against Ukraine, the EU reported on Monday, leading to an upgrade in its growth forecast for the year.

EU fiscal reforms to reduce debt, boost growth — 27 April 2023, 21:40 CET

The Commission presented legislative proposals Wednesday to implement the most comprehensive reform of EU economic governance rules since the aftermath of the financial crisis.

Proposals for new economic governance rules - guide — 26 April 2023, 18:01 CET

The European Commission presented on 26 April 2023 legislative proposals to implement the most comprehensive reform of the EU's economic governance rules since the aftermath of the economic and financial crisis.

Massive state support propped up European businesses in 2021 — 25 April 2023, 22:19 CET

EU states spent around EUR 335 billion under state aid measures in 2021, the Commission said Monday, 57 per cent of which helped firms seriously affected by the pandemic to remain viable.

EU launches first call for companies to jointly buy gas — 25 April 2023, 22:17 CET

The EU Commission launched Tuesday a process for European companies to register their gas purchase needs via the AggregateEU mechanism, to prepare for the joint purchasing of gas at EU level.

MEPs move closer to holding companies accountable for profiting from destroying the planet — 25 April 2023, 19:00 CET

Today, the European Parliament's Committee on Legal Affairs (JURI) cast a final vote on the Corporate Sustainability Due Diligence Directive (CSDDD). Their vote raises the expectations for the upcoming plenary session in early June.

EU moves to cut red tape for merging businesses — 24 April 2023, 23:17 CET

The European Commission adopted a package Thursday with the main aim of simplifying, streamlining and speeding up both the EU's simplified and normal merger review procedure.

Green light to new rules for tracing crypto transfers in the EU — 24 April 2023, 23:16 CET

The European Parliament endorsed Thursday the first EU rules to trace crypto-asset transfers, aiming to prevent money laundering, with common rules on supervision and customer protection.

State Aid Scoreboard — 24 April 2023, 22:56 CET

Under Article 6 of Commission Regulation (EC) 794/2004, the European Commission must publish, annually, a State aid synopsis ('State aid Scoreboard' or 'Scoreboard') based on the expenditure reports provided by Member States. The Scoreboard is the European Commission’s benchmarking instrument for State aid. It was launched in July 2001 to provide a transparent and publicly accessible source of information on the overall State aid situation in the Member States and on the Commission's State aid control activities.

Public Buyers Community Platform — 24 April 2023, 22:46 CET

The Public Buyers Community Platform forms part of the European Commission’s strategy to improve public procurement in the EU by bringing together public authorities and other stakeholders. Public procurers can find and join a community of practice that best fits their procurement interests and work in close collaboration with their fellow members to pool their resources, tools and expertise, and maximise their purchasing power and impact. The Public Buyers Community Platform is a DG GROW initiative dedicated to facilitating joint action in public purchasing across the EU. It is a space for European public procurers and the European Commission to meet and work together to actively advance public purchasing.