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Finance and Monetary Affairs in the EU

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

EU Fintech Action Plan: first step towards a serious approach 08 March 2018, 18:31 CET
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 08 March 2018, 17:59 CET
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 08 March 2018, 15:32 CET
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 08 March 2018, 14:12 CET
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 08 March 2018, 00:19 CET
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 07 March 2018, 23:56 CET
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 06 March 2018, 15:21 CET
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 06 March 2018, 13:59 CET
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 28 February 2018, 18:17 CET
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 21 February 2018, 00:26 CET
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 16 February 2018, 22:59 CET
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 08 February 2018, 16:47 CET
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 08 February 2018, 14:38 CET
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 02 February 2018, 11:23 CET
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 23 January 2018, 13:28 CET
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 19 January 2018, 11:58 CET
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 18 January 2018, 17:52 CET
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 18 January 2018, 16:06 CET
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 18 January 2018, 15:47 CET
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 16 January 2018, 18:23 CET
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 12 January 2018, 17:48 CET
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.

Payment services (PSD 2) - Directive (EU) 2015/2366 12 January 2018, 17:40 CET
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

Directive on Payment Services (PSD) 12 January 2018, 17:37 CET
The European Commission is working to create an efficient and integrated market for payment services in the EU. The EU is aiming to create a single payment area which lets citizens and businesses make cross-border payments as easily and safely as they would in their own countries; and where cross-border payments are subject to the same charges as domestic payments.

ECB retains supervision over Credit Mutuel: EU Court 14 December 2017, 14:13 CET
The major French cooperative bank Credit Mutuel remains under prudential supervision of the European Central Bank, following a ruling Wednesday by the European Court of Justice.

Europe's flagship investment plan extended to 2020 13 December 2017, 23:03 CET
The EU Council agreed Tuesday to extend the Fund for Strategic Investment, a flagship initiative under the 'investment plan for Europe', to 2020, with a target of half a trillion euros of additional investments.