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Finance and Monetary Affairs in the EU

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

Sustainable finance plan needs to be practical and flexible, says Invest Europe
Private equity is well-placed to support the European Commission’s sustainable finance plan announced today, but any further measures need to take into account the diversity of the industry, says Invest Europe.

Fintech action plan to boost innovation in financial services
Europe should become a global hub for FinTech innovation, the Commission said Thursday as it unveiled a plan to harness opportunities offered by technology-enabled innovation in financial services.

European Crowdfunding Services for Business - Proposal for a Regulation
As a first major deliverable of the Action Plan on harnessing the opportunities presented by technology-enabled innovation in financial services (FinTech), the European Commission is putting forward new rules that will help crowdfunding platforms to grow across the EU's single market.

Financial Technology (FinTech) Action Plan
On 8 March, the European Commission unveiled an Action Plan on how to harness the opportunities presented by technology-enabled innovation in financial services (FinTech).

EU Fintech Action Plan: first step towards a serious approach
The European Banking Federation notes the release today of the European Commission's Fintech Action Plan 'For a more competitive and innovative European financial sector', which recognises the transformative impact of financial innovations for users of financial services and for the banks that offer these.

Brussels looks to sustainable finance plan to reach climate targets
The Commission unveiled a financial strategy to support EU climate and sustainable development goals Thursday, with extra investments of EUR 180 bn a year needed to achieve 2030 targets agreed in Paris.

EU Action Plan on financing sustainable growth
The European Commission presented on 8 March an Action Plan on sustainable finance and financial technology.

EU breaks new ground on sustainable finance - but more needed
The EU has made clear its intent to become the world's leader in sustainable finance with its bold Action Plan published today. While the proposals would help more money go into sustainable sectors rather than fossil fuels, they are still not enough to align with the Paris Agreement on climate change.

Structural weakness holding back growth: EU economic reports
The EU Commission published Wednesday its annual analysis of the economic and social situation in the Member States, including progress in implementing country-specific recommendations.

European Semester 2018: Winter Package
The European Commission published on 7 March its annual analysis of the economic and social situation in the EU Member States, including progress in implementing country-specific recommendations and an assessment of possible imbalances.

SMEs say no to Commission approach for definitive VAT system
In a position paper, UEAPME presents quite a negative assessment of the European Commission's proposal for the first steps towards a Single EU VAT system.

EU can lead the world in sustainable finance
The EU has a chance to become a world-leader in sustainable finance with the European Commission’s upcoming Action Plan, expected on 7 March. This would mean more money going into ‘green’ sectors and less into fossil fuels and areas which damage the planet and people’s wellbeing.

EU support to SMEs - interactive map
Hundreds of thousands of small and medium-sized enterprises (SMEs) and entrepreneurs across Europe have benefited from the financing programmes of the European Commission and the European Investment Fund (EIF) to start, grow and scale up their businesses. This map indicates the location of SMEs that have benefited from EU financial support through EIF-managed financial instruments.

Auditors assess EU wind and solar power initiatives
The European Court of Auditors published Tuesday a background paper with details of its enquiry into EU and Member State support for wind and solar photovoltaic (PV) power generation.

EU auditors call for greater financial accountability
The European Court of Auditors called Thursday for an increased emphasis on value added in the EU Budget, along with more flexibility and transparency, and greater accountability.

Euro economy shows robust growth as forecasts revised upwards
Growth rates for the eurozone and the EU beat expectations last year as the transition from economic recovery to expansion continues, according to Wednesday's EU Winter Interim Economic Forecast.

Cohesion Open Data Platform
Giving access to data on financing and achievements under the ESI Funds 2014-2020. The platform visualises, for over 530 programmes, the latest data available (Dec. 2016 for achievements, Sept. 2017 for finances implemented, daily updates for EU payments).

Sustainable Finance: Banks urge clarity in EU Action Plan
Noting the final recommendations of the EU High-Level Expert Group on Sustainable Finance published today, the European Banking Federation called on the European Commission to move swiftly and prepare a clear EU Action Plan that will enable the banking sector to actively promote sustainable development and contribute to the fight against climate change without harming financial stability.

Brussels proposes more flexibility over VAT rates
The European Commission proposed Thursday new rules which would give EU Member States more flexibility to set Value Added Tax (VAT) rates and to create a better tax environment to help SMEs flourish.

2017 State Aid Scoreboard
The 2017 State Aid Scoreboard, published on 16 January by the European Commission, showed that over 97% of new implemented aid measures fell under the new General Block Exemption Regulation and could be quickly implemented by EU Member States to the benefit of citizens, businesses and regions, avoiding bureaucracy, red tape and delays.

Progress in the Reduction of Non-Performing Loans in Europe
The European Commission has welcomed the headway made in tackling non-performing loans (NPLs) in the EU as part of ongoing work at the national and EU level to reduce remaining risks in parts of the European banking sector.

VAT for small businesses and setting VAT rates - background guide
The European Commission proposed on 18 January new rules to give EU Member States more flexibility to set Value Added Tax (VAT) rates and to create a better tax environment to help SMEs flourish.

Action Plan on VAT - Towards a single EU VAT area
On 7 April 2016 the European Commission adopted an Action Plan on VAT - Towards a single EU VAT area. Following adoption of this Action Plan, the European Commission has made a series of proposals to work towards its completion.

Revised rules to revolutionise EU payment services
Cheaper, easier and safer electronic payments should result from the revised Payment Services Directive (PSD2), which applies as of 13 January, and aims to modernise Europe's online payment services.

Payment Services Directive
European consumers will be able to reap the full benefits of paying online for goods and services, thanks to new rules that will it make it cheaper, easier and safer to make electronic payments. The revised Payment Services Directive (PSD2, Directive 2015/2366/EU), applicable as of 13 January 2018, aims to modernise Europe's payment services to the benefit of both consumers and businesses, so as to keep pace with this rapidly evolving market.