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Finance and Monetary Affairs in the EU

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

Further profit taking stumps the Pound - Euro currency news daily
Yesterday saw another day of profit taking from investors as they reaped the benefits of the surge we have seen in the pound.

EU growth forecast sees hope at end of Covid tunnel
With Europe in the grip of the coronavirus pandemic, the EU's winter economic forecast provided grounds for cautious optimism Thursday, projecting stronger growth momentum for the second half of 2021 and 2022.

Brussels mulls changes to VAT rules for financial and insurance services
The EU Commission launched a public consultation Tuesday to gather views on the current VAT rules for financial and insurance services, and to seek ideas on possible improvements.

Recovery and Resilience Facility - background guide
The RRF is the key instrument at the heart of NextGenerationEU, the EU's plan for emerging stronger from the COVID-19 pandemic. It will play a crucial role in helping Europe recover from the economic and social impact of the pandemic and will help to make the EU's economies and societies more resilient and secure the green and digital transitions.

WWF welcomes report on the EU's regulatory technical standards
The report defines what information financial institutions will need to share publicly under the EU's sustainable finance disclosure rules. These standards underpin the EU's Sustainable Finance Disclosures Regulation by defining what information needs to be presented by financial institutions under the required disclosures.

Innovation divide holds back EU research potential
The capacity of European firms to take up and develop state-of-the-art technology varies considerably among Member States and prevents the EU from fully exploiting its potential, EU auditors said Tuesday.

EU-China reach agreement on investment
Following intensive negotiations carried out by the European Commission, the EU and China concluded in principle at the end of 2020 negotiations for a Comprehensive Agreement on Investment.

EU agrees EUR 1.8 trillion long-term recovery budget
The EU Council adopted a regulation Thursday laying down the EU's multiannual financial framework for 2021-2027, providing for a long-term budget of EUR 1,074.3 billion for the EU27 in 2018 prices.

Long-term EU budget for 2021-2027 - background guide
Following the European Parliament's consent, the EU Council adopted on 17 December the regulation laying down the EU's multiannual financial framework for 2021-2027.

EU leaders clear way for Covid recovery package
EU leaders at a summit Friday reached a deal to address the concerns expressed on the EU's recovery package and the draft Regulation on a general regime of conditionality for the protection of the EU budget.

EU institutions agree funding for investment recovery
The EU Parliament and Council reached a political agreement Monday night on the InvestEU flagship investment programme for the sustainable recovery of Europe's economy from the coronavirus pandemic.

The InvestEU Programme brings together under one roof the multitude of EU financial instruments currently available and expand the successful model of the Investment Plan for Europe. With InvestEU, the Commission will further boost investment, innovation and job creation, triggering at least EUR 650 billion in additional investment.

New Brussels plan for recovery of media sector
The EU Commission unveiled Thursday an action plan for recovery of the media/audiovisual sector, hit badly by the coronavirus crisis, and seen as essential for democracy, diversity and digital autonomy.

Benefit of Interchange Fee Regulation now nullified by fee increases
EuroCommerce today released a study by retail payments consultancy CMSPI and antitrust and economics advisers Zephyre on the rise since the adoption of the EU Interchange Fee Regulation (IFR) in the fees paid by merchants accepting card payments.

EU prepares for end of LIBOR financial benchmark
The European Parliament and EU Council reached provisional agreement Tuesday on key amendments to EU rules on financial benchmarks, in preparation for the end of LIBOR on December 31 2021.

Brussels urges speedy action to boost post-COVID recovery
The EU Commission issued its autumn economic package Wednesday, aiming to steer EU economies into calmer waters after the COVID pandemic with policy guidance for Europe's collective recovery.

European Semester Autumn Package - Q&A
The European Commission presented on 18 November its autumn economic policy package, including the Opinions on euro area Draft Budgetary Plans (DBPs) for 2021 and policy recommendations for the euro area.

EU agrees deal on long-term budget for post-COVID recovery
The EU Parliament and Member States agreed Tuesday on Europe's long-term budget and extra funding to rebuild a post-COVID-19 Europe centred on jobs, competitiveness, and better climate protection.

2021-2027 long-term EU budget & Next Generation EU
On 10 November, the European Parliament and EU Member States reached a historic agreement on the next long-term budget and NextGenerationEU, the temporary recovery instrument.

2021-2027 long-term EU budget & Next Generation EU
On 10 November 2020, the European Parliament and EU Member States in the Council reached a historic agreement on the next long-term budget and NextGenerationEU, the temporary recovery instrument. Once adopted, the package of a total of €1.8 trillion will be the largest package ever financed through the EU budget. It will help rebuild a post-COVID-19 Europe, which will be greener, more digital, more resilient and better fit for the current and forthcoming challenges.

EIB as EU 'climate bank' must require polluters to change
EU Member States are set to discuss the European Investment Bank's plan to become the EU’s 'climate bank' tomorrow. The draft roadmap, while containing some positive elements like a ban on lending for airport expansion, is far from enough in WWF's view.

Auditors pass 2019 EU accounts, but 'too many spending errors'
EU auditors signed off the EU's 2019 accounts as 'true and fair' Tuesday, but their annual report concluded that payments had too many errors, and they also issued an adverse opinion on expenditure.

Pandemic resurgence stalls Europe's growth rebound
As the coronavirus' second wave dashes hopes for a quick rebound for Europe's economy, economic output is not forecast to return pre-pandemic levels till 2022, the EU said Thursday in its autumn forecast.

Auditors assess EU support for European tourism
Auditors are to analyse the effectiveness of EU funding for European tourism, whether it provided suitable support prior to the pandemic, and EU efforts to limit the negative impact of the COVID-19 crisis.

Auditors look into effectiveness of EU funding for SMEs
The European Court of Auditors launched a new audit Wednesday to examine whether EU funding for small and medium sized enterprises (SMEs) is helping to make them more competitive and future-proof.