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Finance and Monetary Affairs in the EU

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

Brussels proposes more flexibility over VAT rates 23 January 2018, 13:28 CET
The European Commission proposed Thursday new rules which would give EU Member States more flexibility to set Value Added Tax (VAT) rates and to create a better tax environment to help SMEs flourish.

US Government shutdown ends after just 3 days, GBP/USD nudging 1.40, all eyes on Davos - Euro currency news daily 23 January 2018, 12:32 CET
 

2017 State Aid Scoreboard 19 January 2018, 11:58 CET
The 2017 State Aid Scoreboard, published on 16 January by the European Commission, showed that over 97% of new implemented aid measures fell under the new General Block Exemption Regulation and could be quickly implemented by EU Member States to the benefit of citizens, businesses and regions, avoiding bureaucracy, red tape and delays.

Progress in the Reduction of Non-Performing Loans in Europe 18 January 2018, 17:52 CET
The European Commission has welcomed the headway made in tackling non-performing loans (NPLs) in the EU as part of ongoing work at the national and EU level to reduce remaining risks in parts of the European banking sector.

VAT for small businesses and setting VAT rates - background guide 18 January 2018, 16:06 CET
The European Commission proposed on 18 January new rules to give EU Member States more flexibility to set Value Added Tax (VAT) rates and to create a better tax environment to help SMEs flourish.

Action Plan on VAT - Towards a single EU VAT area 18 January 2018, 15:47 CET
On 7 April 2016 the European Commission adopted an Action Plan on VAT - Towards a single EU VAT area. Following adoption of this Action Plan, the European Commission has made a series of proposals to work towards its completion.

Revised rules to revolutionise EU payment services 16 January 2018, 18:23 CET
Cheaper, easier and safer electronic payments should result from the revised Payment Services Directive (PSD2), which applies as of 13 January, and aims to modernise Europe's online payment services.

Payment Services Directive 12 January 2018, 17:48 CET
European consumers will be able to reap the full benefits of paying online for goods and services, thanks to new rules that will it make it cheaper, easier and safer to make electronic payments. The revised Payment Services Directive (PSD2, Directive 2015/2366/EU), applicable as of 13 January 2018, aims to modernise Europe's payment services to the benefit of both consumers and businesses, so as to keep pace with this rapidly evolving market.

Payment services (PSD 2) - Directive (EU) 2015/2366 12 January 2018, 17:40 CET
In 2015 the EU adopted a new directive on payment services (PSD 2) to improve the existing rules and take new digital payment services into account. The directive became applicable in January 2018. It includes provisions to make it easier and safer to use internet payment services; better protect consumers against fraud, abuse, and payment problems; promote innovative mobile and internet payment services; strengthen consumer rights; strengthen the role of the European Banking Authority (EBA) to coordinate supervisory authorities and draft technical standards

Directive on Payment Services (PSD) 12 January 2018, 17:37 CET
The European Commission is working to create an efficient and integrated market for payment services in the EU. The EU is aiming to create a single payment area which lets citizens and businesses make cross-border payments as easily and safely as they would in their own countries; and where cross-border payments are subject to the same charges as domestic payments.

ECB retains supervision over Credit Mutuel: EU Court 14 December 2017, 14:13 CET
The major French cooperative bank Credit Mutuel remains under prudential supervision of the European Central Bank, following a ruling Wednesday by the European Court of Justice.

Europe's flagship investment plan extended to 2020 13 December 2017, 23:03 CET
The EU Council agreed Tuesday to extend the Fund for Strategic Investment, a flagship initiative under the 'investment plan for Europe', to 2020, with a target of half a trillion euros of additional investments.

European Fund for Strategic Investments (EFSI) 13 December 2017, 22:49 CET
The European Fund for Strategic Investments (EFSI) is an initiative to help overcome the current investment gap in the EU. Jointly launched by the EIB Group and the European Commission, it aims to mobilise private investment in projects which are strategically important for the EU.

EFSI 2.0 will give further push for investment and innovation 12 December 2017, 18:10 CET
UEAPME President Ulrike Rabmer-Koller welcomes today's final approval of EFSI 2.0 at the European Parliament.

EU unveils 'climate-smart investments' worth EUR 9bn 12 December 2017, 16:59 CET
The EU's Climate Action Commissioner announced some EUR 9 bn-worth of climate-focused investments Tuesday, for areas such as sustainable cities, sustainable energy and sustainable agriculture.

European External Investment Plan 12 December 2017, 16:55 CET
The EU's External Investment Plan will support more inclusive and sustainable development in Africa and the European Neighbourhood. It will boost public and private investment and thus address some of the obstacles to growth in our partner countries.

EU External Investment Plan (EIP) 12 December 2017, 16:49 CET
The External Investment Plan (EIP) was adopted in September 2017 to help boost investment in partner countries in Africa and the European Neighbourhood. It aims to: contribute to the UN's sustainable development goals (SDG) while tackling some of the root causes of migration; mobilise and leverage sustainable public and private investments to improve economic and social development with a particular focus on decent job creation.The EIP supports partner countries by: mobilising finance - through the European Fund for Sustainable Development; providing technical assistance to help prepare investment projects; developing a favourable investment climate and business environment.

Brussels presents plan for European Monetary Fund 07 December 2017, 22:39 CET
The EU Commission presented Tuesday a roadmap for deepening Economic and Monetary Union, including plans for a European finance minister and the establishment of a European Monetary Fund.

EBF calls for rigorous impact assessment of Basel III 07 December 2017, 18:53 CET
The European Banking Federation notes that the Basel Committee on Banking Supervision and its Group of Central Bank Governors and Heads of Supervision have reached an agreement on the completion of the Basel III international regulatory framework for banks.

Deepening Europe's Economic and Monetary Union 06 December 2017, 22:16 CET
The European Commission set out on 6 December 2017 a Roadmap for deepening Europe's Economic and Monetary Union.

US and EU agree deal on derivatives trading 05 December 2017, 22:43 CET
The European Commission recognised Tuesday some US trading venues authorised by the Commodity Futures Trading Commission as eligible for compliance with the EU trading obligation for derivatives.

UK comes off EU's list of countries with excessive deficits 05 December 2017, 19:01 CET
The EU Council took the United Kingdom off its list of Member States with excessive deficits Tuesday, confirming that its government deficit had dropped below the EU's 3 per cent of GDP reference value.

Profits of Europe's SMEs on the rise: ECB survey 29 November 2017, 23:37 CET
Smaller businesses in Europe have reported increasing profits for the first time since the beginning in 2009 of a European Central Bank survey, which also reports a higher willingness of banks to lend.

New EU e-payments rules to make shopping safer 28 November 2017, 22:58 CET
The revised payment services directive, adopted Monday by the EU Commission, is designed to provide consumers with more convenient and innovative payment solutions, whether buying in shops or online.

159 arrests and 766 money mules identified in global action week against money muling 28 November 2017, 14:08 CET
Law enforcement authorities from 26 countries, supported by Europol, Eurojust and the European Banking Federation (EBF), have joined forces in the third coordinated global action against money muling, with the European Money Mule Action 'EMMA3'.