Finance and Monetary Affairs in the EU

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

Digital Euro: Retailers and wholesalers generally supportive but have crucial concerns — 29 June 2023, 23:03 CET

As the legislative proposal to enable the digital euro was published on 28 June, and the investigation phase of the digital euro is progressing towards a decision later in 2023, the retail and wholesale sector voices its general support while also highlighting some key concerns.

EU proposals focus on consumer needs for the future of digital payments and finance — 28 June 2023, 23:00 CET

The European Commission published an ambitious package of measures today that have the potential to improve consumer conditions in payments and digitalised financial services. There are proposals on a digital Euro (while maintaining access to cash), steps to tackle payment fraud and on protecting consumers' data in Open Finance.

EU reaches deal on joint procurement of defence products — 28 June 2023, 22:45 CET

The European Parliament and Council reached a deal Tuesday on new rules to incentivise EU countries to jointly procure defence products and support the EU’s defence industry.

Modernising payments services - guide — 28 June 2023, 22:16 CET

The European Commission put forward proposals on 28 June to bring payments and the wider financial sector into the digital age.

Brussels outlines framework for new digital euro — 28 June 2023, 21:33 CET

The EU Commission set out proposals Wednesday for a framework for a possible digital form of the euro that the ECB may issue in future, as well as for continued access to euro banknotes and coins.

Single Currency Package - guide — 28 June 2023, 19:06 CET

The European Commission on 28 June put forward two proposals to ensure that citizens and businesses can continue to access and pay with euro banknotes and coins across the euro area, and to set out a framework for a possible new digital form of the euro that the European Central Bank may issue in the future, as a complement to cash.

Political agreement on EU Banking Package — 27 June 2023, 23:04 CET

The European Parliament and Council reach draft agreement Tuesday on EU banking rules to implement 'Basel III' reforms aimed at boosting the strength and resilience of banks operating in the EU.

EU to issue EUR 40 bn long-term EU-Bonds in second half of 2023 — 27 June 2023, 22:01 CET

The European Commission is set to issue EUR 40 bn in long-term EU-Bonds for the rest of 2023, to finance the EU recovery, provide support to Ukraine and secure funds for key programmes.

European Defence Fund — 26 June 2023, 23:33 CET

Complementing and amplifying the efforts of EU Member States, the European Defence Fund promotes cooperation among companies and research actors of all sizes and geographic origin in the Union, in research and development of state-of-the-art and interoperable defence technology and equipment. The Fund supports competitive and collaborative projects throughout the entire cycle of research and development for a bigger impact on the European defence capability and industrial landscape. It strongly encourages participation of small and medium-sized enterprises (SMEs) in collaborative projects and fosters breakthrough innovative solutions.

EU strengthens sanctions against Russia for illegal Ukraine war — 23 June 2023, 18:11 CET

The European Union continued its drive to erode Putin's war machine and revenues Friday with an 11th package of sanctions including new tools to counter circumvention and information warfare.

EUR 6.2 bn EU funds for key sustainable transport projects — 23 June 2023, 18:03 CET

107 transport projects are to receive over EUR 6 billion in EU grants from the Connecting Europe instrument for strategic investment in transport infrastructure, the Commission announced on Thursday.

11th package of restrictive measures against Russia - guide — 23 June 2023, 17:40 CET

The EU Council adopted on 23 June an 11th package of sanctions against Russia. This package is aimed at ensuring that EU sanctions against Russia are even better enforced and implemented, based on lessons learned from implementation over the past year.

EU pays EUR 1.5 bn macro-financial aid to Ukraine — 22 June 2023, 23:14 CET

The European Union paid out another EUR 1.5 billion Thursday under its macro-financial aid package for Ukraine, which helps the country with stable, predictable and sizeable financial support in 2023.

Dedicated EU facility to support Ukraine's recovery — 20 June 2023, 23:46 CET

As Russia continues its war against Ukraine's people and economy, the EU Commission proposed Tuesday a dedicated finance instrument of 'flexible' support to Ukraine for 2024-2027.

Brussels proposes EUR 65bn top-up to EU Budget — 20 June 2023, 23:14 CET

The European Commission proposed Tuesday a EUR 65 bn increase to the EU's 2024-2027 budget to finance support to Ukraine, action on migration, and investments in strategic industries.

Commission proposal to reinforce long-term EU budget to face most urgent challenges - guide — 20 June 2023, 22:38 CET

The European Commission proposed on 20 June to reinforce the EU's long-term budget to face current urgent challenges.

Adjusted package for the next generation of own resources - guide — 20 June 2023, 21:56 CET

The European Commission on 20 June completed its proposal for a next generation of own resources. The package includes a new temporary statistical own resource based on company profits. Following political agreement on the 'Fit For 55' package, which seeks to ensure EU policies contribute to the climate neutrality of our continent, the Commission also proposes to adjust the own resources proposals based on the Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM) compared to the original proposals from December 2021.

EU budget: Strategic Technologies for Europe Platform (STEP) to support European leadership on critical technologies — 20 June 2023, 21:48 CET

The European Commission proposed on 20 June the Strategic Technologies for Europe Platform ('STEP'). The STEP will reinforce and leverage existing EU instruments to quickly deploy financial support to the benefit of business investments. The STEP will also allow directing existing funding towards technology fields that are crucial for Europe's leadership, thus contributing to a level playing field for investments throughout the Single Market.

A new Ukraine Facility - guide — 20 June 2023, 21:36 CET

In the light of the devastating consequences of Russia's war of aggression for Ukraine's people, economy, and infrastructure, and given the enormous scale and complexity of the recovery and reconstruction challenge, the European Commission proposed on 20 June to establish a dedicated financing instrument that will provide coherent, predictable as well as flexible support for the period 2024-2027 to Ukraine, adapted to the unprecedented challenges of supporting a country at war.

EU withholding tax proposals to boost cross-border investment — 19 June 2023, 17:31 CET

New rules on withholding tax, proposed Monday by the European Commission, are aimed at promoting fairer taxation, fighting tax fraud and supporting cross-border investment throughout the EU.

Brussels to strengthen sustainable finance framework — 13 June 2023, 23:35 CET

The European Commission put forward a number of measures Tuesday to strengthen the EU's sustainable finance framework and its move away from carbon-emitting energy sources.

Green recovery still the focus for EU's 2024 Budget — 07 June 2023, 21:57 CET

With EU states facing rising costs and inflation, the Commission proposed Wednesday an annual EU budget of EUR 189.3 bn for 2024, focusing on green and digital spending to drive Europe's economic recovery.

Draft annual budget 2024 - guide — 07 June 2023, 21:34 CET

The European Commission proposed on 7 June an annual EU budget of EUR 189.3 billion for 2024. The budget will be complemented by an estimated EUR 113 billion in payments for grants under NextGenerationEU, the EU's post-pandemic recovery instrument.

Anti-coercion tool to safeguard EU economic interests — 06 June 2023, 16:33 CET

The EU Parliament and Council reached fina political agreement Tuesday on a new tool to enable the EU to respond to economic coercion and defend its interests on the global stage.

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: