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Finance and Monetary Affairs in the EU

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

Euro rally continues to march on - Euro currency news daily
The day for the euro looked rather similar to the pound yesterday but the significant difference this morning is that the Euro has managed to kick on from its rebound in the afternoon and is testing the 1.19 level against the US Dollar.

Brussels urges speedy action to boost post-COVID recovery
The EU Commission issued its autumn economic package Wednesday, aiming to steer EU economies into calmer waters after the COVID pandemic with policy guidance for Europe's collective recovery.

European Semester Autumn Package - Q&A
The European Commission presented on 18 November its autumn economic policy package, including the Opinions on euro area Draft Budgetary Plans (DBPs) for 2021 and policy recommendations for the euro area.

EU agrees deal on long-term budget for post-COVID recovery
The EU Parliament and Member States agreed Tuesday on Europe's long-term budget and extra funding to rebuild a post-COVID-19 Europe centred on jobs, competitiveness, and better climate protection.

2021-2027 long-term EU budget & Next Generation EU
On 10 November, the European Parliament and EU Member States reached a historic agreement on the next long-term budget and NextGenerationEU, the temporary recovery instrument.

2021-2027 long-term EU budget & Next Generation EU
On 10 November 2020, the European Parliament and EU Member States in the Council reached a historic agreement on the next long-term budget and NextGenerationEU, the temporary recovery instrument. Once adopted, the package of a total of €1.8 trillion will be the largest package ever financed through the EU budget. It will help rebuild a post-COVID-19 Europe, which will be greener, more digital, more resilient and better fit for the current and forthcoming challenges.

EIB as EU 'climate bank' must require polluters to change
EU Member States are set to discuss the European Investment Bank's plan to become the EU’s 'climate bank' tomorrow. The draft roadmap, while containing some positive elements like a ban on lending for airport expansion, is far from enough in WWF's view.

Auditors pass 2019 EU accounts, but 'too many spending errors'
EU auditors signed off the EU's 2019 accounts as 'true and fair' Tuesday, but their annual report concluded that payments had too many errors, and they also issued an adverse opinion on expenditure.

Pandemic resurgence stalls Europe's growth rebound
As the coronavirus' second wave dashes hopes for a quick rebound for Europe's economy, economic output is not forecast to return pre-pandemic levels till 2022, the EU said Thursday in its autumn forecast.

Auditors assess EU support for European tourism
Auditors are to analyse the effectiveness of EU funding for European tourism, whether it provided suitable support prior to the pandemic, and EU efforts to limit the negative impact of the COVID-19 crisis.

Auditors look into effectiveness of EU funding for SMEs
The European Court of Auditors launched a new audit Wednesday to examine whether EU funding for small and medium sized enterprises (SMEs) is helping to make them more competitive and future-proof.

Screening of foreign direct investments
The EU framework for screening of foreign direct investment (FDI) becomes fully operational as of 11 October 2020.

EU to issue EUR 100bn social bonds to protect jobs
The EU Commission announced Wednesday that it will issue its forthcoming SURE bonds of up to EUR 100 billion - designed to help protect jobs and keep people in work through the pandemic - as social bonds.

Commission to issue EU SURE bonds of up to EUR 100 billion as social bonds
The European Commission announced on 7 October that it will issue its forthcoming EU SURE bonds of up to EUR 100 billion as social bonds.

Green light for EU-wide rules on crowdfunding
The European Parliament gave the go-ahead Monday to a single set of rules for crowdfunding services in the EU up to EUR 5,000,000, including strict rules to protect investors from financial losses.

SURE - the temporary Support to mitigate Unemployment Risks in an Emergency
The temporary Support to mitigate Unemployment Risks in an Emergency (SURE) is available for Member States that need to mobilise significant financial means to fight the negative economic and social consequences of the coronavirus outbreak on their territory. It can provide financial assistance up to EUR 100 billion in the form of loans from the EU to affected Member States to address sudden increases in public expenditure for the preservation of employment.

Retail vital to European Recovery, but needs help - investments and the right policies
Speaking today at a virtual conference held by the World Retail Congress, EuroCommerce Director-General Christian Verschueren set out the challenges facing retail across Europe and the vital role of the sector in supporting European economic recovery:

OLAF - the European Anti-Fraud Office
OLAF investigates fraud against the EU budget, corruption and serious misconduct within the European institutions, and develops anti-fraud policy for the European Commission.

EU agrees new rules on excise duties for alcohol
The EU Council agreed new rules governing excise duties on alcohol Thursday, paving the way for an improved business environment and for reduced costs for small alcohol-producing businesses.

Excise Duty on Alcohol
EU legislation on excise duties on alcohol covers: Excise duties on alcoholic beverages - Specific provisions for locally produced products - Alcohol not intended for human consumption. Alcohol and alcoholic beverages are also subject to the common provisions for excise goods under EU law.

COVID: Stakes are high for European automotive recovery, new facts and figures show
The European Automobile Manufacturers' Association (ACEA) has published its annual Pocket Guide that provides an overview of the EU auto industry, including the latest sector-specific data on employment, vehicle production and sales, road safety, R&D, the environment and trade flows.

Brussels to ease capital markets rules to aid business recovery
A Capital Markets Recovery Package, outlined by the EU Commission Friday, amends the Prospectus Regulation, MiFID II and securitisation rules to help businesses to raise capital on public markets.

Marathon EU summit secures EUR 750 bn recovery fund
Following a marathon four-day summit, EU leaders agreed Tuesday a EUR 750 billion recovery fund for Europe, and a long-term budget to help the EU rebuild after the pandemic and support green investment.

Capital Markets Recovery Package
The European Commission on 24 July adopted a Capital Markets Recovery Package, as part of the Commission's overall coronavirus recovery strategy.

Green transition fund should be performance-related: EU auditors
A proposal amending the EU's Just Transition Fund needs to establish a clearer link to EU climate and environmental goals, says an Opinion published Wednesday by the EU's Court of Auditors.