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Finance and Monetary Affairs in the EU

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

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.

Experts: nuclear, gas and some bioenergy not sustainable under EU taxonomy
The EU’s finance sector will take strides for the climate if the European Commission follows just-published expert advice.

Wholesalers key to Europe's economy
EuroCommerce today launched its report "Wholesale at the Centre of Europe’s Economy" setting out wholesalers' key contribution to making the European economy work.

EIB and UNEP strengthen cooperation on climate and environmental actions
The European Investment Bank (EIB) and the United Nations Environment Programme (UNEP) agreed Monday to deepen their cooperation to enhance climate and environmental actions.

Country reports put sustainability at heart of EU economic policy
Environmental sustainability is at the heart of the 'winter package' of EU country reports analysing Member States' key socio-economic challenges, published on Wednesday by the European Commission.

Mifid II - EU mulls changes to investor protection rules
The EU Commission opened a consultation Monday on changes in investor protection in the Markets in Financial Instruments directive (Mifid), which sets out rules for European securities markets.

VAT rules simplified for Europe's smaller businesses
EU finance ministers adopted simplified VAT rules applicable to small businesses Tuesday, with a view to reducing administrative burdens and compliance costs and helping more efficient trade across borders.

Coronavirus, Brexit weigh on subdued outlook for EU economy
Subdued, stable growth for Europe's economy is set to continue over the next two years, according to the EU's Winter 2020 Economic Forecast, which warns of potential risks including the coronavirus.

MEPs massively back European Central Bank climate role
Today the European Parliament voted in plenary in favour of the European Central Bank (ECB) taking climate action.

BlueInvest Fund to unlock potential of EU's blue economy
The EU Commission with the European Investment Fund launched the BlueInvest Fund Tuesday, to provide financing to equity funds that support economic activities related to oceans, seas and coasts.

BlueInvest platform
The BlueInvest platform supports investment readiness and access to finance for early-stage businesses, SMEs and scale-ups in the blue economy.