Finance and Monetary Affairs in the EU

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

New EU sanctions to target Russian trade — 29 September 2022, 22:56 CET

Following recent escalation of Russia's invasion of Ukraine, and its 'sham referenda' to facilitate annexation of occupied territories, the Commission presented Wednesday a new package of sanctions.

More rates rises ahead, warns ECB chief Lagarde — 28 September 2022, 23:49 CET

More euro interest rates rises are inevitable, European Central Bank president Christine Lagarde told the EU Parliament Monday, citing the fight against inflation as the only way to restore confidence.

The impact of faster payments: crucial for SMEs — 26 September 2022, 23:52 CET

SMEunited has been advocating the correct payment terms for decades. Late payments endanger the continuity of SME activities. The report on the impact of faster payments in B2B relations, published today by the Joint Research Centre, underlines this statement. We ask the Commission to use this momentum to immediately launch the revision of the Late Payment Directive, announced by President von der Leyen at the State of the Union address.

NGOs walk out of expert Taxonomy group over lack of independence — 14 September 2022, 21:06 CET

BEUC, Birdlife, ECOS, T&E and WWF leave the EU Platform on Sustainable Finance. NGOs claim the European Commission has interfered politically in the group and acted against evidence despite its legal obligation to follow science-based advice.

EU must learn lessons from COVID-19 vaccine procurement: auditors — 13 September 2022, 18:21 CET

The EU needs to learn lessons as to whether the Commission and Member States procured COVID-19 vaccines effectively, the EU's auditors said in a special report published Tuesday.

State support for Europe's Covid-hit businesses 'unprecedented' — 12 September 2022, 23:00 CET

COVID-19 state aid measures allowed for unprecedented levels of public support while preserving the level-playing field of a fair Single Market, a report by the European Commission showed Thursday.

EIB to provide up to EUR 10 bn for shift away from fossil fuels — 07 September 2022, 23:05 CET

The European Investment Bank and the Commission signed an agreement Wednesday paving the way for EUR 11.5 billion in loans and grants to support regions' transition to a climate-neutral economy.

EU puts forward new EUR 5bn aid package for Ukraine — 07 September 2022, 22:09 CET

The European Commission proposed Wednesday a further EUR 5 billion in macro-financial assistance (MFA) loans to Ukraine as the second part of an exceptional MFA package of up to EUR 9 billion.

EU ends Greece's 'enhanced surveillance' on 20 August — 22 August 2022, 09:15 CET

The EU ended the 'enhanced surveillance' of Greece on 20 August, the European Commission announced, judging the country to have delivered on reforms and the policy commitments it made.

EU disburses EUR 1 bn macro-financial assistance for Ukraine — 11 August 2022, 00:09 CET

The European Union continued its support to help Ukraine shore up its public finances Wednesday with disbursement of a new EUR 1 billion macro-financial assistance operation for the country.

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Brussels proposes new import ban on Russian gold — 18 July 2022, 23:42 CET

A new package of measures to maintain and strengthen the effectiveness of EU sanctions against Russia, proposed Tuesday by the EU Commission, includes a new import ban on Russian gold.

EU to finally require businesses' transparency on their harmful environmental impacts — 15 July 2022, 23:32 CET

The European Parliament's Legal Affairs Committee (JURI) voted on 14 July for a strong Corporate Sustainability Reporting Directive (CSRD), which would require companies to commit to science-based sustainability targets and tangible plans to reduce their greenhouse gas emissions.

EU institutions agree deal for digital transformation of Europe — 14 July 2022, 23:03 CET

The EU Parliament and Council reached political agreement Thursday on the 'Path to the Digital Decade' programme, setting up a cooperation mechanism to achieve targets for Europe's digital transformation.

Russia's war hits EU economy, hikes inflation — 14 July 2022, 18:12 CET

Russia's war of aggression against Ukraine continues to negatively affect the EU economy, as Thursday's interim Summer Economic Forecast points to lower growth and higher inflation.

Croatia given final approval to join euro — 12 July 2022, 23:15 CET

The EU Council adopted the last three legal acts to enable Croatia to become a member of the euro area Tuesday, paving the way for Croatia to introduce the EU's common currency on 1 January 2023.

European Parliament greenlights institutional greenwashing of consumers' investments and pensions — 06 July 2022, 18:54 CET

The European Parliament has given its green light to the European Commission's plans to label nuclear energy and fossil gas as 'green investments'. For BEUC, this is unacceptable institutional greenwashing and will prevent consumers from investing sustainably.

This is not over yet - WWF will not rest until the Taxonomy is truly green — 06 July 2022, 18:50 CET

Like the Commission and the Council previously, the European Parliament failed climate and citizens by endorsing a set of sustainable finance rules which will channel billions of euros into activities that will accelerate climate change and harm the planet, during a vote in today's plenary session.

MEPs fail to reject gas, nuclear from EU Taxonomy guidebook — 06 July 2022, 18:46 CET

Euro-MPs failed Wednesday to oppose the inclusion of nuclear and gas as environmentally sustainable economic activities, voting instead in favour of labelling them as green activities in the EU Taxonomy.

EU moves to stop illicit flows of crypto assets — 30 June 2022, 22:17 CET

The EU Parliament and Council reached a provisional deal Thursday to ensure transfers of crypto-assets can be traced and identified to prevent money laundering, terrorist financing and other crimes.

EU agrees new social, environmental reporting rules for large companies — 22 June 2022, 23:21 CET

MEPs and EU governments struck a provisional deal Tuesday on new reporting rules for large companies, with obligations to disclose their impact on environment, human rights, social standards and work ethics.

Croatia ready to adopt euro in 2023: Eurogroup — 17 June 2022, 18:13 CET

The Eurogroup of EU finance ministers endorsed a recommendation Thursday for Croatia to introduce the euro on 1 January 2023, the first step in a legal process to enable Croatia to join the euro area.

With an overwhelming majority, MEPs reject the greenwashing of gas and nuclear power in crucial Committee vote — 14 June 2022, 22:07 CET

MEPs in the Environment and Economic Affairs committees have rejected the classification of fossil gas and nuclear power as environmentally sustainable under the EU Taxonomy - the EU's "green" investment guidebook. With an absolute majority, MEPs passed a first crucial step by voting down a list that would give a 'green' label to fossil gas and nuclear power despite their nefarious environmental impacts.

New EU consumer credit rules aim to prevent overindebtedness — 13 June 2022, 23:25 CET

EU states adopted updated draft rules for consumer credit Thursday, aiming to modernise and reinforce consumer protection and promote more responsible and transparent practices.

Consumer credit: EU Member States propose to prevent overindebtedness but fail to capture new forms of lending — 09 June 2022, 12:26 CET

EU Member States have just adopted their position on updated rules for consumer credit. This follows a strong European Commission proposal to modernise the bloc's outdated Consumer Credit Directive, which covers all types of credit, including peer-to-peer lending and deferred debit cards.