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Finance and Monetary Affairs in the EU

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

European Semester: The Spring Package
The European Commission proposed on 20 May country-specific recommendations (CSRs) providing economic policy guidance to all EU Member States in the context of the coronavirus pandemic, focused on the most urgent challenges brought about by the pandemic and on relaunching sustainable growth.

How to Identify and Avoid Forex Scams
The Forex market is the biggest financial market worldwide, with $5 trillion being traded in a single day. Thanks to the wonders of the internet, it's never been simpler to gain access to this lucrative marketplace.

Parliament: EUR 2 trillion EU recovery funds must drive climate neutrality and nature protection
In its resolution on the "new multiannual financial framework, own resources and the recovery plan", the European Parliament has reiterated its call for a green recovery with an overwhelming majority, emphasising that all recovery funds need to be fully compatible with the Paris Agreement, EU climate neutrality and biodiversity objectives.

Retailers and wholesalers call for urgent amendment of card fees regulation
EuroCommerce Director-General Christian Verschueren today pressed the European Commission to act on the growing problems facing retailers and wholesalers resulting from the limited scope of the Interchange Fee Regulation (IFR).

Automotive CEOs and European Commission discuss recovery plan that bolsters economy and Green Deal
CEOs from across the automotive value chain came together for a meeting with the European Commission to align on the priorities for a solid recovery plan for the automotive sector, with a view to stimulating the wider economy and bolstering the transformation to a carbon-neutral society.

Brussels expands temporary framework to recapitalisation
The Commission has adopted a second amendment to extend the scope of the State aid Temporary Framework adopted on 19 March to enable EU states to support the economy in the context of COVID-19.

European economy enters deepest ever recession
Despite EU and national efforts, Europe's economy will experience a recession of historic proportions this year, according to the EU's spring economic forecast, presented Wednesday by the Commission.

Brussels to clamp down further on dirty money
The EU Commission put forward Thursday a set of measures it wants to take over the next 12 months to better enforce and coordinate EU rules on combating money laundering and terrorist financing.

EU and global partners pledge EUR 7.4 bn to fund coronavirus vaccine
The EU joined with global partners Monday to pledge EUR 7.4 billion in funding for the development of fast and equitable access to safe, effective and affordable diagnostics and vaccines against coronavirus.

Coronavirus Global Response - Q&A
The European Union is joining forces with global partners to kick-start a pledging effort - the Coronavirus Global Response - starting on 4 May 2020.

Greener, Fairer and Simpler VAT and Excise duties - and zero VAT and customs duties for protective equipment during COVID-19 crisis
Speaking today on the publication of the EuroCommerce paper on VAT and excise duties, EuroCommerce Director-General commented:

Coronavirus: banking package to facilitate bank lending
A new banking package, adopted Tuesday by the EU Commission, aims to ensure that banks can continue to lend money to support the economy and help mitigate the economic impact of the coronavirus.

EU gives go-ahead to EUR 540 bn recovery package
EU leaders endorsed in a video call Thursday an agreement on safety nets for workers, businesses and sovereigns amounting to a package worth EUR 540 bn, calling for the package to be operational by 1 June.

Coronavirus: Banking Package to facilitate bank lending
The European Commission adopted on 28 April a banking package to help facilitate bank lending to households and businesses throughout the European Union.

Merkel gets behind climate action as part of green recovery
At today's Petersberg climate dialogue, hosted by Germany, Chancellor Angela Merkel said greater climate action should be part of our economic recovery from the health crisis. She also spoke in favour of a "50% or 55%" emissions reduction target for 2030 - up from the 40% target today.

EU's bank recovery billions must be green - NGOs
11 NGOs are calling on the European Investment Bank to ensure its response to the Covid-19 health crisis is aligned with the EU Green Deal and helps stimulate a green economic recovery in Europe.

EU diverts nearly all resources to fight COVID-19
The EU Council adopted two proposals Tuesday to make almost all remaining funding from this year's EU Budget - plus an additional EUR 3 billion - available for the fight against the COVID-19 pandemic.

EU governments rally behind green recovery
WWF welcomes a letter signed by the ministers of Austria, Denmark, Finland, Italy, Latvia, Luxembourg, the Netherlands, Spain, Sweden, Portugal, in which they urge to apply the European Green Deal as "roadmap to make the right choices in responding to the economic crisis while transforming Europe into a sustainable and climate neutral economy".

Renewed EU sustainable finance strategy can help economic resilience
Today the European Commission showed it is pushing forward on greening finance. It launched an insightful public consultation on the EU’s new sustainable finance strategy, almost sticking to the planned timing despite the coronavirus outbreak.

Coronavirus: EC, EIB unlock EUR 8 bn finance for 100,000 SMEs
The Commission and European Investment Fund made available EUR 8 billion in financing Monday, to bring speedy cash relief to SMEs in Europe affected by the coronavirus pandemic.

Brussels plans EUR 100 billion coronavirus solidarity fund
The EU Commission proposed Thursday to set up a EUR 100 bn coronavirus solidarity fund to help businesses stay afloat and workers keep incomes, and to redirect structural funds to coronavirus response.

Coronavirus: EU approves UK SME support schemes
The EU Commission on Thursday approved two separate UK State aid schemes to support small and medium-sized enterprises in the context of the coronavirus outbreak.

EU moves to protect critical European assets
The European Commission issued guidelines Thursday to ensure a strong EU-wide approach to foreign investment screening in a time of public health crisis and related economic vulnerability.

Retailers ask for rising card fees to be tackled in Interchange Fee Regulation
Commerce Director-General Christian Verschueren commented today on the publication of an Ernst & Young study for the European Commission on the effectiveness of the Interchange Fee Regulation (IFR) and the launch of its own report on retailers’ on-the-ground experience of the IFR’s application:

Brussels reaches data-sharing agreement with Airbnb, Booking on short-term lets
A landmark agreement with Airbnb, Booking and others on data sharing, reached Thursday by the EU Commission, will allow Eurostat to publish data on their short-stay accommodations across the EU.