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Finance and Monetary Affairs in the EU

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

Sterling climbs off Junker comments - Euro currency news daily
Yesterday evening the pound demonstrated once again just how reactive it is towards Brexit comments and this time it was welcome words from EU Commission President Jean-Claude Junker who said that 'I think we can have a deal...because I don't like the idea of a no-deal".

New rules for online shopping in EU take effect
New EU rules on online shopping, which came into force on Saturday 14 September, should make it easier and safer for consumers to pay for goods and services online and to manage their personal finances.

Payment services (PSD 2) - Directive (EU) 2015/2366
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

Safer, easier electronic payments and online banking
New EU rules apply as of 14 September 2019 that will make it easier and safer for consumers to pay for goods and services online and to manage their personal finances.

Performance risks in EU defence plans, say auditors
The current military capabilities and cooperation of the EU Member States do not match the new level of ambition of the EU’s defence policy, says a review by the European Court of Auditors, out Thursday.

EU states' VAT collection gap at EUR 137 bn in 2017
Thorough reform of the VAT system is needed to make it more fraud-proof, the EU Commission said Thursday as it released a study showing Member States lost EUR 137 billion in VAT revenues in 2017.

VAT gap - frequently asked questions
The VAT GAP is the overall difference between the expected VAT revenue and the amount actually collected.

EU support programme helps Greece towards financial stability
Greece has shown steady recovery since it successfully concluded its European Stability Mechanism support programme to restore financial stability and promote growth and job creation, the EU said Tuesday.

What EU regulations are there regarding cryptocurrency?
As Facebook plans to launch its own cryptocurrency, the Libra coin, governments have expressed doubts around whether the social media giant is adequately equipped to manage its own digital currency.

Key Case Studies will be Presented at SMi's Benelux Infrastructure Forum 2019 in Amsterdam
SMi Reports: Case study updates from Van Oord, BESIX Group, Rebel and Macquarie to be delivered at the Benelux conference this November

EU opens probe into Amazon use of sensitive data
The Commission opened a formal investigation Wednesday into whether Amazon's use of sensitive data from independent retailers selling on its 'marketplace' breaches EU competition rules.

E-commerce still vulnerable to VAT and customs duty evasion: EU auditors
Many challenges in collecting correct amounts of VAT and customs duties on e-commerce remain to be resolved, according to a report from the European Court of Auditors published on Tuesday.

Global tensions and uncertainty test EU economy
While Europe's economy is set for continued growth in 2019, the near-term outlook is clouded by global trade tensions and significant policy uncertainty, according to the EU's Summer 2019 Economic Forecast.

EU bank stress test too feeble: auditors
The latest bank stress test by the European Banking Authority should have been more demanding in testing banks' resilience to systemic risks across the EU, the EU Court of Auditors said on Wednesday.

EUR 35m EU funding for AI solutions to fight cancer
The EU Commission launched a call for proposals Tuesday for EUR 35 million available aimed at supporting the development of analysis of health images for cancer diagnostics based on Artificial Intelligence

Italy escapes EU excessive deficit censure over public debt
Following Italy's announcement of further measures to address public debt, the EU Commission decided Wednesday not to propose opening an Excessive Deficit Procedure for lack of compliance with EU debt criterion.

New EU dispute resolution for double taxation in force
New rules to ensure more effective resolution of tax disputes between EU Member States came into force Monday, offering more tax certainty for businesses and individuals experiencing double taxation issues.

EU lagging behind on climate & biodiversity SDGs: Eurostat report
WWF is disappointed by the EU's insufficient progress on meeting the environmental Sustainable Development Goals (SDGs).

Registration Opens For 18th Annual Benelux Infrastructure Forum
SMi Reports: Registration is now open for the 18th annual Benelux Infrastructure Forum, which will be returning to Amsterdam this November.

The changing faces of epayments
69 per cent of all internet users in the European Union regularly shopped online last year, with the average user purchasing a service or product 6 times per month.

Euro drop hits cost of living for Europeans in USA
Europe now accounts for less than a fifth (19 per cent) of the world’s most expensive cities, with 11 European cities dropping out of the top 100, according to ECA International's latest Cost of Living report.

New EU shareholders' rights rules enter into force
The new Shareholder Rights Directive, which entered into force on Monday, addresses corporate governance shortcomings that contributed to the financial crisis, says the EU Commission.

Company Law and Corporate Governance
The purpose of EU rules in this area is to: enable businesses to be set up and to carry out operations anywhere in the EU; provide protection for shareholders and other parties with a particular interest in companies, such as employees and creditors; make business more efficient, competitive and sustainable in the long term; encourage businesses based in different EU countries to cooperate with each other. EU company reporting, auditing and transparency rules complement this legal framework.

Italy set for EU reprimand over excessive debt
An Excessive Deficit Procedure is warranted against Italy over its rising debt, the European Commission said Wednesday in its 'Spring Package' recommendations for EU Member States' economies.

European Semester 2019 Spring Package
The European Commission has taken the next steps in the 2019 cycle of the European Semester of economic policy coordination.