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Finance and Monetary Affairs in the EU

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

Pound thrown a life line from Parliament - Euro currency news daily
Boris Johnson suffered his first defeat in Parliament yesterday before even becoming Prime Minister as the House of Commons voted to stop the incoming government proroguing parliament.

EU opens probe into Amazon use of sensitive data
The European 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.

EY survey reveals France top in Europe for innovative & industrial investments
The 2019 edition of EY's 'France Attractiveness Survey' published on 4 June confirms France’s increasing appeal as an investment location.

Banks fined over EUR 1bn for foreign exchange cartel
The EU Commission fined five banks - Barclays, RBS, Citigroup, JPMorgan and MUFG - EUR 1.07 billion Thursday for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies.

Brussels launches new tool to crack down on VAT fraud
A new system to help EU countries crack down on VAT fraud, launched Wednesday by the European Commission, allows EU Member States to rapidly exchange and jointly process VAT data.

German growth forecast cut as economic uncertainty continues
GDP growth in Germany is forecast to be particularly subdued this year, as global uncertainties continue to weigh on Europe's economy, according to the EU Commission's latest economic forecast Tuesday.

Young European farmers get access to EUR 1 bn EU loan package
The EU Commission and European Investment Bank launched a EUR 1 bn loans package Monday targeting specifically young farmers. Nearly a third of young farmers' loan applications were rejected in 2017.

Auditors review EU support for urban mobility
The European Court of Auditors is examining the effectiveness of EU action on improving the mobility of people in cities and densely populated areas, including progress in managing traffic congestion.

EUR 428 billion in taxes generated by motor vehicles in EU-15, new figures show
New data released today shows that motor vehicle taxation brings in €428 billion per year to governments in the EU-15 countries alone. This figure - up 3.5% compared with the previous year - represents more than two and a half times the total EU budget.

The InvestEU Programme
The European Parliament on 18 April approved a provisional and partial deal with EU ministers on a new EU programme to support investment and access to finance during 2021-2027.

Investors looking to Ireland for EU Citizenship
Global investors who, prior to Brexit, may have focused their attention on the UK as a gateway to Europe, are now turning to Ireland for European residency.