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Finance and Monetary Affairs in the EU

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

EU authorities supervising financial markets to get stronger and long-awaited consumer protection powers
The EU has struck a deal to strengthen and better fund the authorities which are responsible for supervising financial markets at EU level.

Pound under renewed pressure as Brexit confusion reigns - Euro currency news daily
yesterday, the PM wrote to the EU requesting a delay to Brexit until 30 June, permission of which is likely to be granted, but a short extension isn't music to the ears of investors or traders and the pound has come under selling pressure itself.

Agreement paves way for better VAT collection on online sales
EU Member States reached agreement Tuesday on detailed measures needed to simplify VAT rules for sales of goods online, also ensuring that online marketplaces play their part in the fight against tax fraud.

Foreign ownership of European companies on the rise
There has been a continuous rise in foreign company ownership in key sectors in the EU and an increase in investments from emerging economies such as China, a report detailing foreign direct investment in the EU shows.

EU adds Bermuda, UAE to revised tax haven blacklist
EU finance ministers added Bermuda, the United Arabic Emirates and eight other jurisdictions to a list of non-cooperative jurisdictions for tax purposes Tuesday, bringing to 15 the number of countries on the list.

Modernising VAT for cross-border e-commerce
European Commission DG TAXUD page on VAT for e-commerce including legal texts

Access to finance is still a concern for SMEs
Accessing finance to fund their projects is still an important concern for Europe’s SMEs.

EU to start screening foreign direct investment from April
A set of new rules to scrutinise foreign direct investments on the grounds of security or public order will come into force from April, following their green light Tuesday by the EU Council.

EU on the right track towards a circular economy: report
The European Union is making good progress on the road to a climate-neutral, competitive circular economy, the EU Commission declared Monday as it published a report on implementation of its 'Circular Economy Action Plan'.

Circular Economy Package Report
The European Commission adopted a Report on 4 March on its 2015 Circular Economy Action Plan to stimulate Europe's transition towards a circular economy which aimed at boosting global competitiveness, fostering sustainable economic growth and generating new jobs.

European Semester 2019: Winter Package
In its annual assessment of the economic and social situation in the EU Member States, the European Commission on 27 February stressed the need to promote investment, pursue responsible fiscal policies and implement well-designed reforms.

New EU low-carbon benchmarks boost for sustainable investment
The EU Council and Parliament reached a preliminary agreement Monday on a proposal for new financial benchmarks aimed at giving greater information on an investment portfolio's carbon footprint.

Euro tax police needed to tackle financial crime: MEPs
A special tax committee set up by the EU Parliament in the wake of the Luxleaks, Panama Papers and Paradise papers scandals adopted Wednesday a roadmap to fairer, more effective taxation and to tackling financial crimes.

States agree easier access to capital for Europe's SMEs
EU ambassadors agreed a negotiating mandate Wednesday on proposed rules to help Europe's smaller businesses trying to list and issue securities on financial markets to tap market-based funding more easily and cheaply.

Brussels mulls new guidelines for company reporting on climate info
As part of its Sustainable Finance Action Plan, the EU Commission launched Thursday a consultation with the objective to finalise new guidelines for company reporting on climate-related information.

EU adds Saudi Arabia to money-laundering blacklist
Saudi Arabia has been added to the EU's list of 23 third countries with strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks, revealed Wednesday by the Commission.

Money laundering: EU list of high-risk third countries
The EU Commission adopted on 13 February its new list of 23 third countries with strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks.

Opportunity lost: Parliament rejects possibility to make driving history count
Today the European Parliament voted on new rules regarding motor insurance.

EU cuts forecasts for economic growth amid global uncertainties
Trade tensions and the possibility of a disruptive Brexit are likely to contribute to a slowdown in Europe's economy in 2019, the European Commission said in its Winter Economic Forecast, outlined Thursday.

New EU derivatives rules to reduce costs and regulatory burdens
The EU Parliament and states reached political agreement Tuesday on rules applying to non-financial counterparties, small financial counterparties and pension funds using financial derivative products.

CETA investor dispute system 'compatible with EU law'
The investment dispute mechanism of the free trade agreement between the EU and Canada (CETA) is compatible with EU law, an advocate-general of the EU Court said Wednesday in an Opinion.

EU fines Mastercard EUR 570m for breaking antitrust rules
The EU Commission fined Mastercard EUR 570 million Tuesday for breaching EU antitrust rules, by preventing merchants finding better conditions with by banks established elsewhere in the Single Market.

EU highlights risks attached to investors' residence schemes
Investor citizenship and residence schemes operated by some European states imply a number of risks for the EU, including money laundering, tax evasion and corruption, says an EU report Wednesday.

Report on Investor Citizenship and Residence Schemes in the European Union
The European Commission presented on 23 January a comprehensive report on investor citizenship and residence schemes operated by a number of EU Member States.

More enforcement of consumer law and better rights in digital economy, demand MEPs
The European Parliament committee for the internal market (IMCO) is pushing for stronger rules when companies do not abide by EU consumer law. Enforcement is rightly seen as the weak link in consumer protection rules.