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Finance and Monetary Affairs in the EU

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

May shows her flexibility - Euro currency news daily
So it is finally beginning to happen, Theresa May is beginning to crack or show that she is willing to take radical steps, it really depends on your Brexit point of view.

ECB bonds purchase valid, says EU Court adviser
The decision of the European Central Bank to establish a programme for the purchase of government bonds on secondary markets is valid, in the Opinion of the top EU Court's Advocate-General.

EU finance ministers agree lower VAT for e-publications
Ministers agreed to allow EU states to apply reduced, 'super-reduced' or zero VAT rates to electronic publications Tuesday, thereby allowing alignment of VAT rules for electronic and physical publications.

Ministers make progress on VAT reform and fight against fraud
EU finance ministers agreed Tuesday on new rules to exchange more information and boost cooperation on criminal VAT fraud, as well as measures to cut VAT compliance burdens for companies.

EBRD bans new oil, but fails to align its gas criteria with Paris Agreement
On 25 September, the EBRD released the draft of its upcoming Energy Sector Strategy. The strategy will guide the Bank's operations in the sector for the next five years, and had not been updated since 2013, prior to the fundamental change in the energy and climate policy context brought on by the Paris Agreement.

Brussels takes action against UK over Chinese shoe fraud
The EU Commission sent a 'reasoned opinion' to the United Kingdom Monday on account of its failure to act against customs fraud relating to Chinese shoe imports and resulting losses to the EU Budget.

VAT fraud costs the EU EUR 50 billion a year
EU countries lost almost EUR 150 billion in VAT revenues in 2016, of which EUR 50 bn went to the benefit of criminals, according to a new study published Friday by the European Commission.

VAT Gap
EU countries lost almost €150 billion in Value-Added Tax (VAT) revenues in 2016, according to a new study published today by the European Commission.

Banking in Europe: EBF publishes 2018 Facts & Figures
The European Banking Federation today has published Banking in Europe; the 2018 Facts & Figures, its annual update on the banking sector in Europe.

Court upholds EU sanctions against Russian banks
The General Court of the EU upheld Thursday restrictive measures taken by the EU Council against a number of Russian banks and oil and gas companies in connection with the crisis in Ukraine.

Juncker Commission must not forget real economy in its final spurt
In a first reaction to President Jean-Claude Juncker’s “State of the European Union” speech, UEAPME welcomes the fact that Juncker wants to focus on delivery for the last year of his Commission.

State of the Union 2018: stronger anti-money laundering supervision
In the 2018 'State of the Union' address to the European Parliament, EU Commission president Jean-Claude Juncker proposed stronger anti-money laundering supervision for a 'stable banking and financial sector'.

Air pollution causes 400,000 premature deaths in EU: report
Air pollution causes about 400,000 premature deaths in the EU and hundreds of billions of euros in health-related external costs, says a new report on the impact of EU action to protect human health from its effects.

Greece begins new chapter as EU bailout ends
Greece regained its place 'at the heart of Europe' Monday as the EU brought to an end its three-year bailout programme with praise for the efforts of the Greek people and the country's commitment to reform.

European firms get EU protection from Trump Iran sanctions
As the first batch of re-imposed US sanctions on Iran take effect, the EU's updated 'Blocking Statute' entered into force early on 7 August to mitigate their impact on EU companies doing business in Iran.

Updated Blocking Statute in support of Iran nuclear deal
As the first batch of re-imposed US sanctions on Iran took effect, the EU's updated Blocking Statute entered into force early on 7 August to mitigate their impact on the interests of EU companies doing legitimate business in Iran.

EU investment plan exceeds EUR 315 bn target
An EU funding plan to fund growth and innovation mobilised EUR 335 billion in additional investment since July 2015, and has made a clear impact on the EU economy, the Commission said Wednesday.

European Fund for Strategic Investments (EFSI)
EFSI is an initiative launched jointly by the EIB Group – the European Investment Bank and European Investment Fund – and the European Commission to help overcome the current investment gap in the EU. EFSI is one of the three pillars of the Investment Plan for Europe that aims to revive investment in strategic projects around the continent to ensure that money reaches the real economy.

Brussels provides guidance on protection of cross-border EU investments
The EU Commission issued guidance Thursday to help EU investors invoke their rights before national administrations and courts and to help states protect the public interest in compliance with EU law.

EU guidance on protection of cross-border EU investments
The European Commission on 19 July issued guidance to help EU investors to invoke their rights before national administrations and courts and to help Member States to protect the public interest in compliance with EU law.

Trade tensions with US hitting EU growth
Growth is set to remain strong in 2018 and 2019, at 2.1 per cent this year and 2 per cent next year, according to the EU's latest economic forecast, but growing trade tensions with the US could hit growth.

EU External Investment Plan
As part of its External Investment Plan, the EU gave its green light to a package of financial guarantee programmes worth around EUR 800 million on 10 July. This will help to leverage an estimated EUR 8-9 billion in public and private investment in Africa and the Neighbourhood.

EU steps up monitoring of reforms as Greece moves to normalisation
The EU Commission activated an enhanced surveillance framework for Greece Wednesday to support implementation of reforms following the conclusion of its bailout through the European Stability Mechanism.

Greece post-programme framework to support normalisation
The European Commission adopted a decision on 11 July to activate the enhanced surveillance framework for Greece to support the implementation of agreed reforms following the successful conclusion of the European Stability Mechanism (ESM) stability support programme.

Deepening of the EMU needs a realistic approach
At a conference on the Economic and Monetary Union in the framework of the new Austrian Presidency of the European Union in Linz (AT), UEAPME President Ulrike Rabmer-Koller discussed the deepening and convergence of the EMU with the main players in the reform process.