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Finance and Monetary Affairs in the EU

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

BoE Governor Carney pulls rug from under the GBP, casting doubt on May rate hike - Euro currency news daily 20 April 2018, 11:08 CET
Figures out yesterday showed that in February, the Eurozone registered a €35.1bn current account surplus after an upwardly-revised €39.0bn in January. In the 12 months to the end of February, the surplus rose to 3.7% of GDP, up from 3.4% in the same period last year. The ECB expects this trend to continue, pushing the surplus higher to above 4% of GDP later this year and in 2019.

Motor vehicles generate EUR 413 billion in taxes for EU-15, new data shows 17 April 2018, 23:06 CET
The latest data shows that taxation on motor vehicles in the EU-15 is worth EUR 413 billion annually - about three times the total budget of the European Union. This figure is up 4% compared with one year earlier.

EC collective redress proposal fails to follow its own recommendations against potential abuse 12 April 2018, 22:59 CET
Insurance Europe is concerned about the implications of the European Commission’s proposal for a Directive on representative actions for the protection of the collective interests of consumers, which was published yesterday. The proposal would repeal the 2009 Injunctions Directive, and govern how consumers launch collective legal actions against organisations, such as insurers.

Cheap euro transfers to be extended to non-euro states 28 March 2018, 23:35 CET
The European Commission proposed Wednesday to make cross-border payments in euro cheaper across the entire EU, instead of only for transactions between Member States of the eurozone.

Cross-border payments 28 March 2018, 23:29 CET
The European Commission proposed on 28 March to make cross-border payments in euro cheaper across the entire EU.

Sustainable finance: Banks ready to support EU technical talks 22 March 2018, 16:59 CET
Sustainable finance experts in the European banking sector on Wednesday agreed to better align themselves for collecting industry insights to provide effective support for the technical discussions at the European Commission on the implementation of the EU’s Sustainable Finance Action Plan.

EU financial interests can limit double jeopardy principle 21 March 2018, 23:18 CET
The 'double jeopardy' principle may be limited to protect the financial interests of the EU and financial markets, but only in so far as necessary to meet their objectives, the EU court ruled Wednesday.

European Parliament calls for doubling for LIFE funding in next EU budget 14 March 2018, 23:44 CET
Today, the European Parliament voted to double the funding of the LIFE Programme, the EU’s only funding instrument on nature conservation and climate, in the next EU budget post-2020. WWF has long called for LIFE financing to be more than trebled to reach 1% of the next budget, up from 0.3% currently.

Action Plan on the Reduction of Non-Performing Loans in Europe 14 March 2018, 23:41 CET
The Commission proposed on 14 March a comprehensive package of measures to tackle non-performing loans (NPLs) in Europe, capitalising on the significant progress already made in reducing risks in the banking sector.

Advisers set for tighter EU scrutiny over tax schemes 14 March 2018, 00:10 CET
EU Member States reached political agreement Tuesday on new transparency rules for tax advisers, accountants, banks and lawyers who design and promote tax planning schemes for their clients.

Brussels to boost cross-border investment funds market 12 March 2018, 23:29 CET
The EU Commission outlined another step towards the development of its Capital Markets Union Monday by promoting alternative sources of financing and removing barriers to cross-border investments.

Covered bonds, cross-border distribution of investment funds and cross-border transactions in claims and securities 12 March 2018, 23:15 CET
The European Commission took a major step towards development of an EU Capital Markets Union by promoting alternative sources of financing and removing barriers to cross-border investments.

Sustainable finance plan needs to be practical and flexible, says Invest Europe 08 March 2018, 23:27 CET
Private equity is well-placed to support the European Commission’s sustainable finance plan announced today, but any further measures need to take into account the diversity of the industry, says Invest Europe.

Fintech action plan to boost innovation in financial services 08 March 2018, 23:17 CET
Europe should become a global hub for FinTech innovation, the Commission said Thursday as it unveiled a plan to harness opportunities offered by technology-enabled innovation in financial services.

European Crowdfunding Services for Business - Proposal for a Regulation 08 March 2018, 22:58 CET
As a first major deliverable of the Action Plan on harnessing the opportunities presented by technology-enabled innovation in financial services (FinTech), the European Commission is putting forward new rules that will help crowdfunding platforms to grow across the EU's single market.

Financial Technology (FinTech) Action Plan 08 March 2018, 22:47 CET
On 8 March, the European Commission unveiled an Action Plan on how to harness the opportunities presented by technology-enabled innovation in financial services (FinTech).

EU Fintech Action Plan: first step towards a serious approach 08 March 2018, 18:31 CET
The European Banking Federation notes the release today of the European Commission's Fintech Action Plan 'For a more competitive and innovative European financial sector', which recognises the transformative impact of financial innovations for users of financial services and for the banks that offer these.

Brussels looks to sustainable finance plan to reach climate targets 08 March 2018, 17:59 CET
The Commission unveiled a financial strategy to support EU climate and sustainable development goals Thursday, with extra investments of EUR 180 bn a year needed to achieve 2030 targets agreed in Paris.

EU Action Plan on financing sustainable growth 08 March 2018, 15:32 CET
The European Commission presented on 8 March an Action Plan on sustainable finance and financial technology.

EU breaks new ground on sustainable finance - but more needed 08 March 2018, 14:12 CET
The EU has made clear its intent to become the world's leader in sustainable finance with its bold Action Plan published today. While the proposals would help more money go into sustainable sectors rather than fossil fuels, they are still not enough to align with the Paris Agreement on climate change.

Structural weakness holding back growth: EU economic reports 08 March 2018, 00:19 CET
The EU Commission published Wednesday its annual analysis of the economic and social situation in the Member States, including progress in implementing country-specific recommendations.

European Semester 2018: Winter Package 07 March 2018, 23:56 CET
The European Commission published on 7 March its annual analysis of the economic and social situation in the EU Member States, including progress in implementing country-specific recommendations and an assessment of possible imbalances.

SMEs say no to Commission approach for definitive VAT system 06 March 2018, 15:21 CET
In a position paper, UEAPME presents quite a negative assessment of the European Commission's proposal for the first steps towards a Single EU VAT system.

EU can lead the world in sustainable finance 06 March 2018, 13:59 CET
The EU has a chance to become a world-leader in sustainable finance with the European Commission’s upcoming Action Plan, expected on 7 March. This would mean more money going into ‘green’ sectors and less into fossil fuels and areas which damage the planet and people’s wellbeing.

EU support to SMEs - interactive map 28 February 2018, 18:17 CET
Hundreds of thousands of small and medium-sized enterprises (SMEs) and entrepreneurs across Europe have benefited from the financing programmes of the European Commission and the European Investment Fund (EIF) to start, grow and scale up their businesses. This map indicates the location of SMEs that have benefited from EU financial support through EIF-managed financial instruments.