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Finance and Monetary Affairs in the EU

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

New speaker Joël Meggelaars joins SMi's Benelux Infrastructure Forum 2019 in Amsterdam
SMi Reports: Attendee line up and new speaker announced for the 18th Annual Benelux Infrastructure Forum 2019, in Amsterdam, Netherlands, taking place in less than four weeks.

A mixed bag for Boris - Euro currency news daily
It was a mixed day for PM Johnson on Tuesday as GBP/USD dipped from 1.2990 to 1.2860 on the back of a number of votes in parliament. British lawmakers voted by 329 to 299 in favour of Johnson's Withdrawal Agreement Bill however voted against the proposed fast track Brexit timetable, leaving EU negotiations in limbo.

EU agencies need to improve financial management: auditors
While confirming positive results in previous years, EU agencies need to tighten up financial management, especially in the way they conduct public procurement, EU auditors said in a report Wednesday.

Brussels consults on implementation of Basel III reforms
The EU Commission has launched a public consultation on implementation of the Basel III standards - the reforms to improve the regulation, supervision and risk management in the banking sector.

EU sets its sights on huge potential of blockchain
Blockchain, the technology behind bitcoin and other cryptocurrencies, has the potential to transform the way we exchange a much wider range of assets, according to a new report from the EU's research centre.

New EU law to help protect whistleblowers from 2021
The EU formally adopted Monday a new set of rules to guarantee a high level protection to whistleblowers across a wide range of sectors including public procurement, financial services and money laundering.

EU staff budget savings come at a cost to workforce
A 2014 EU staff reforms package has achieved significant savings, says a new report from the European Court of Auditors, but also had some negative consequences for human resources.

Key Sponsors and Speakers to join SMi's Benelux Infrastructure Forum 2019 in Amsterdam
SMi Reports: New event details, sponsors and speakers announced for the upcoming 18th Annual Benelux Infrastructure Forum 2019.

MEPs give green light for first EU Chief Prosecutor
EU Parliament and Council negotiators agreed Wednesday on the appointment of Laura Codruta Kövesi, the MEPs' preferred choice to be the first head of the new EU Public Prosecutor’s Office.

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.