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Finance and Monetary Affairs in the EU

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

Wait-and-see mode at the moment from the Pound - Euro currency news daily
The pound edged higher yesterday against both the US dollar and euro although it wasn't all plain sailing throughout the day.

New EU authority to crack down on money-laundering
The EU Commission proposed Monday a new authority to combat money laundering, part of a package of measures to strengthen Europe's fight against money laundering and countering terrorism financing.

Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT)
The European Commission presented on 20 July a package of legislative proposals to strengthen the EU's anti-money laundering and countering terrorism financing (AML/CFT) rules. The package also includes the proposal for the creation of a new EU authority to fight money laundering.

Faster rebound forecast for European economy
Europe's economy was forecast to rebound faster than previously expected Wednesday, as the improved health situation prompted a swifter easing of pandemic control restrictions in the second quarter.

EU sets out green finance package
The EU Commission adopted measures Tuesday to improve the funding of sustainable projects, with an EU Green Bond Standard to facilitate capital flows to green investments and transition projects.

The EU’s Renewed Sustainable Finance Strategy largely fails to put words into action
The European Commission has released three documents today that aim to bring the EU financial system more in line with the EU Green Deal. While some steps forward are taken, each document has weaknesses.

European Green Bonds Regulation
The European Commission adopted on 6 July a number of measures to increase its level of ambition on sustainable finance.

EU sustainable finance plans overshadowed by labelling of gas as a 'green investment'
Today, the European Commission proposed its Renewed Sustainable Finance Strategy, setting out how it intends to make the bloc's financial system more sustainable. Despite some welcome initiatives, the Commission's green investment labelling plans are heading dangerously in the wrong direction.

Boost for EU consumer rights in wake of pandemic
Consumers are set to gain extra protection when they take out a loan, according to proposals published Wednesday by the Commission revising EU rules on consumer credit and general product safety.

Major Commission proposal to revamp Consumer Credit Directive to the benefit of consumers
Consumers are set to gain much-needed extra protections when they take out a loan, according to proposals the European Commission published today. With many consumers still feeling the financial effects of COVID-19, BEUC praises these added protections, which come just at the right time.

New EU VAT rules to simplify e-commerce
New Value-Added Tax rules for online shopping enter into force on 1 July with a view to ensuring a more level playing field for all businesses and to simplifying cross-border e-commerce in Europe.

EU agrees draft update to car insurance directive
The EU Parliament and Council reached a provisional agreement Wednesday on motor insurance rules providing more protection, transparency and smoother cooperation throughout the EU.

CAP spending not helping to reduce EU farm emissions: report
EU agricultural funding destined for climate action has not contributed to reducing greenhouse gas emissions from farming, according to a special report published Tuesday by the European Court of Auditors.

G7 to provide one billion vaccine doses over next year
At the end of the three-day summit in Cornwall, UK, G7 leaders committed to improving global access to COVID-19 vaccines, strengthening the global health system, and ensuring ambitious climate action.

EUR 167.8 bn 'green' budget to boost EU's economic recovery
The Commission proposed Tuesday an EU budget of EUR 167.8 billion for 2022, prioritising green and digital spending in a bid to boost Europe's economic recovery, safeguard sustainability and create jobs.

EU lawmakers strike deal on multinationals' tax reporting
EU legislators reached a provisional political agreement which will oblige multinationals to declare what taxes they pay in each EU country, overcoming years of foot-dragging by some governments.

EU must step up efforts to tame disinformation threat: auditors
The EU's action plan to combat disinformation, issued in 2018, is being outpaced by emerging threats and is incomplete, according to a special report published Thursday by the European Court of Auditors.

EU forecast paves way for 'strong and sustainable recovery'
The EU Commission presented its European Semester Spring Package Wednesday, providing fiscal guidance to Member States as they continue the process of gradually reopening their economies.

EU supports Belarus democracy with EUR 3 bn finance package
The EU Commission outlined Friday a plan of economic support to a future democratic Belarus, reflecting EU commitment to support the Belarusian people's wishes for a peaceful democratic transition.

Brussels disburses EUR 14.1 bn for Covid employment support
The European Commission disbursed some EUR 14,137 billion to 12 EU Member States on Tuesday, in the seventh instalment of financial support under the EU's SURE instrument.

EUR 371m fine for investment banks cartel
Seven investment banks were found Thursday to have breached EU antitrust rules through participation of traders in a cartel in the primary and secondary market for European Government Bonds.

New tax rules to help EU business to recovery
The European Commission set out its plans for a new business taxation system Tuesday, promising a more robust, efficient and fair system to support Europe's recovery from the COVID-19 pandemic.

Future-proof taxation - proposals for new business tax agenda
The European Commission adopted on 18 May a Communication on Business Taxation for the 21st century to promote a robust, efficient and fair business tax system in the European Union.

EU upgrades outlook for economic growth
The European Commission upgraded its forecasts for the EU and euro area economies Wednesday, as people's lives gradually return to normal, but it warned that many risks continue to hang over the region.

Tax from motor vehicles rises to €398bn in key EU markets, highest taxes per vehicle in Belgium
Motor vehicles are responsible for €398.4 billion of tax revenue for governments across key European markets, according to the latest data from the European Automobile Manufacturers’ Association (ACEA).