Cap for card payment fees - EUbusiness Week newsletter 691
EUbusiness Week 691 top stories: Greece hits German wall, but keeps anti-austerity agenda; EU raises eurozone outlook, confirms deflation; EU widens corporate tax breaks probe to Belgium; Norway signs up to EU greenhouse gas targets; Big business raises voice in British election campaign; Germany suspends minimum wage for transit truckers
Parliament and Council have at last agreed a deal to cap inter-bank fees
for card-based payments. The fees, about which consumers are often
unaware, cost retailers and ultimately consumers tens of billions of
euros every year.
The level of fees varies widely between Member States, and create barriers to the internal market. From 6 months after entry into force of the regulation, maximum fees of up to 0.3% of a transaction's value will apply. Retailers and consumers will welcome the capping, which will reduce costs for both and help create an EU-wide payments market.
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1. Greece hits German wall, but keeps anti-austerity agenda
Greece's ambitious hard-left government on Thursday ran into trouble
with Germany and the European Central Bank but vowed to push ahead with
its electoral pledge to renegotiate the country's unpopular bailout.
ECB draws line in sand over Greece
2. EU raises eurozone outlook, confirms deflation
The EU has raised its growth forecast for the eurozone on the back of
cheap oil and a weak euro, but warned that with deflation taking hold
the bloc's struggling economies must keep up their reforms.
Eurozone deflation accelerates to record low
3. EU widens corporate tax breaks probe to Belgium
The EU opened an investigation on Tuesday into Belgium's tax deals for
multinational firms, widening a major probe into sweetheart tax
arrangements for big business across Europe.
4. Norway signs up to EU greenhouse gas targets
Norway has announced plans to cut greenhouse gas emissions by at least
40 per cent by 2030 as the oil-rich country aligns itself with targets
set by the European Union.
5. Big business raises voice in British election campaign
Big business is getting vocal ahead of Britain's general election,
raising concerns ranging from Labour's economic plans to the referendum
on EU membership promised by the Conservatives.
6. Germany suspends minimum wage for transit truckers
Germany has slammed the brakes on applying its new minimum wage to
foreign truck drivers transiting the country in a move welcomed by
Poland which vigorously opposed the system.
Egypt: the EU has denounced as a violation of Egypt's human rights
obligations an Egyptian court's confirmation of death sentences against
183 men convicted of killing 13 policemen.
Belgium remands man found with chainsaw near EU Parliament
Latest news from the European Court of Justice
EU law firms
Inside the EU Institutions
Greece: Greece's radical new Prime Minister Alexis Tsipras said during a
visit to Brussels he was hopeful of finding a solution to the debt
stand-off between Athens and the EU.
Eurogroup set to meet February 11 on Greece
EU must stop 'spasmodic' moves on Russia: minister
Barred Mugabe can travel to EU as AU head
US trade: US and EU negotiators began their latest round of talks Monday
seeking to push through the world's biggest-ever free trade deal, which
after nearly two years remain bogged down by public opposition.
Juncker backs changing Greek debt 'troika'
Intolerance, extremism on the rise across EU: Timmermans
Greece: Parliament head Martin Schulz has urged Greece's new prime
minister to stop lambasting Chancellor Angela Merkel and her government,
saying anti-German rhetoric was "shortsighted".
Germany's anti-euro party agrees to slim down leadership
This week, political group leaders proposed a committee to look into tax rulings by Member States; the Budgets Committee urged EU budget funding reform, but not by adding to the burden on taxpayers; and MEPs amended rules to establish strong EU-wide standards on trials for children.
9-12 Feb: European Parliament plenary session
9 Feb: Foreign Affairs Council
10-11 Feb: Eastern Partnership Youth Forum
11 Feb: Webinar on digital tourism: Managing your online reputation
13 Feb: Implementation of new public procurement directives
The Week Ahead
Other news on EUbusiness this week
Strong dollar pushes US trade deficit higher 5-Feb
Greece's troubled banks take another hit 5-Feb
EU to add 19 names to Ukraine sanctions list: sources 5-Feb
UN calls for refugee quota system in Europe 3-Feb
EU air safety body urges caution in Pakistan airspace 30-Jan
Scrapping US visa waivers would be 'a mistake' 29-Jan
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LinksWinter Economic Forecast 2015
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EMIR Regulation on OTC derivatives, central counterparties and trade repositories