Finance and Monetary Affairs in the EU

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

EU reviews state aid rules for banks in difficulty — 17 March 2022, 22:13 CET

The EU Commission was gathering views Thursday on EU state aid rules for banks in difficulty from parties with interest in the matter, such as individuals or groups, academia and research institutions.

Review of the Central Securities Depositories Regulation — 16 March 2022, 23:41 CET

The European Commission on 16 March proposed changes to the Central Securities Depositories Regulation to enhance the efficiency of the EU's settlement markets, while safeguarding financial stability.

EU agrees new package of sanctions against Russia — 15 March 2022, 16:24 CET

The EU set out a new package of sanctions against Russia Tuesday, prohibiting new investments in Russia's energy sector and the provision of credit rating services to any Russian person or entity.

Brussels approves reform projects for jobs and growth — 10 March 2022, 23:05 CET

The Commission approved 225 projects under the Technical Support Instrument Wednesday, which supports reform in EU Member States to improve their resilience, create jobs and growth.

EU imposes more sanctions on Belarus and Russia — 10 March 2022, 23:04 CET

The EU introduced new sanctions on Russia and Belarus Wednesday, including measures targeting the Belarusian financial sector, and more oligarchs and members of the Russian Federation Council.

Energy and inflation - Europe needs to minimise damage to consumers — 10 March 2022, 18:42 CET

Speaking today EuroCommerce Director General Christel Delberghe welcomed the objectives of the proposed actions outlined in the Commission’s REPowerEU initiative to accelerate alternative energy sources and reduce reliance on Russian gas:

Uncertainty directs EU guidance for 2023 fiscal policy — 02 March 2022, 22:44 CET

The shadow of Russia's brutal attack on Ukraine hung over the European Commission's guidance to EU Member States on the conduct of fiscal policy in 2023, which it adopted in a Communication Wednesday.

EU to freeze Putin, Lavrov assets — 26 February 2022, 23:28 CET

The European Union imposed sanctions against Russia's president Vladimir Putin and its foreign minister Sergey Lavrov Friday, and adopted wide ranging individual and economic sanctions.

EU condemns 'illegal and unacceptable' Russian action in Ukraine — 23 February 2022, 00:39 CET

The EU condemned Russia's recognition Tuesday of the Donetsk and Luhansk oblasts of Ukraine as independent entities and their invasion by Russian troops, outlining a number of financial and trade sanctions.

Investment funds: single market benefits 'unrealised', say EU auditors — 22 February 2022, 21:01 CET

The EU has a framework to establish a single market for investment funds, but not all of its goals have been achieved, the EU's Court of Auditors said Tuesday, with many potential benefits still 'untapped'.

Barriers to the single market undermine EU recovery and supply chains — 21 February 2022, 14:00 CET

The European Parliament voted on 17 February on its own-initiative report on tackling non-tariff barriers in the single market. EuroCommerce Director General Christel Delberghe said:

Rising inflation checks Europe's recovery — 17 February 2022, 23:06 CET

Inflation and energy prices are expected to hold back growth in the European economy, which is reaching pre-pandemic levels of GDP, according to the EU's winter economic forecast.

Car sales: return to growth expected in 2022, but concerns on charging infrastructure persist — 13 February 2022, 22:24 CET

Despite a record-low base of comparison due to the COVID pandemic, sales of new cars continued to decline in the EU last year because of the microchip shortage. With chip supplies expected to stabilise in 2022, the European Automobile Manufacturers' Association (ACEA) now forecasts that passenger car registrations in the EU will return to growth this year, rising by 7.9% to reach 10.5 million units.

EU taxonomy: gas, nuclear are 'environmentally sustainable' — 03 February 2022, 22:28 CET

The EU Commission published a set of sustainable finance rules Wednesday designed to attract green investment which environmentalists warn could do huge damage to EU environmental action.

Fake Green Taxonomy Act must be rejected by EU Parliament — 02 February 2022, 18:08 CET

The European Commission has today bowed to pressure from France and others, by publishing a set of sustainable finance rules which will do huge damage to the EU and global environmental action.

EU plans to greenwash nuclear and fossil gas will prevent consumers from investing sustainably — 02 February 2022, 17:54 CET

The European Commission officially presented its plans today to include nuclear energy and fossil gas in its 'Taxonomy', its list of economic activities that can be classified as a 'green' investment. This amounts to unacceptable institutional greenwashing and will prevent consumers from investing sustainably.

EU tables EUR 1.2 bn emergency aid package for Ukraine — 02 February 2022, 17:43 CET

The Commission tabled a proposal Tuesday for a new emergency macro-financial assistance (MFA) programme for Ukraine of up to EUR 1.2 billion, following a request from Ukrainian authorities.

EU Taxonomy Complementary Climate Delegated Act covering certain nuclear and gas activities — 02 February 2022, 17:36 CET

The European Commission presented on 2 February a Taxonomy Complementary Climate Delegated Act on climate change mitigation and adaptation covering certain gas and nuclear activities.

Energy taxation fails to square with EU climate goals: auditors — 01 February 2022, 23:43 CET

Energy taxation can support efforts to combat climate change, but current tax levels do not reflect the extent to which different energy sources pollute, according to a review Monday by EU auditors.

EU completes EUR 385m Covid solidarity payments — 19 January 2022, 23:00 CET

The European Union completed payments Wednesday of the EU Solidarity Fund (EUSF) assistance to tackle the coronavirus health emergency to 19 countries for a total amount of almost EUR 385.5 million.

French EU presidency looks for swift progress on minimum tax for multinationals — 19 January 2022, 00:23 CET

The new French EU Presidency took an early opportunity Tuesday to push ahead work on a proposed Council directive which will ensure a global minimum level of taxation for multinational groups.

EU presses ahead with minimum tax for large multinationals — 04 January 2022, 19:49 CET

The European Commission put forward its proposal Wednesday for an EU directive ensuring a minimum 15 per cent effective tax rate for the global activities of large multinational groups.

Minimum corporate taxation — 23 December 2021, 00:38 CET

The European Commission proposed on 22 December a Directive ensuring a minimum effective tax rate for the global activities of large multinational groups.

New European tourism strategy needed: auditors — 15 December 2021, 18:05 CET

The EU is the world's most visited region: around 37% all international tourist arrivals had the EU as their destination in 2019. But EU support for tourism needs a fresh strategic orientation, say the EU's auditors.

EU VAT rules upgraded to be more flexible and green — 14 December 2021, 23:55 CET

EU finance ministers agreed Tuesday to update current rules governing value-added tax (VAT) rates for goods and services, giving them more flexibility to apply reduced and zero VAT rates.