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Finance and Monetary Affairs in the EU

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

New social fund, double Erasmus funding in new EU Budget
For the next long-term EU budget, the EU Commission proposes to reinforce and better target several existing Funds including a new European Social Fund and double funding for Erasmus to EUR 30 bn.

Use Country-Specific Recommendations to build growth in the EU
Commenting on the country-specific recommendations (CSRs), issued last week by the European Commission as part of the European Semester process, EuroCommerce Director-General Christian Verschueren, said:

Straws, cotton buds targeted in EU plan to ban single-use plastics
Plans to tackle marine litter, outlined by the EU Commission Monday, would ban ten single-use plastic products most often found on Europe's beaches and seas, as well as lost and abandoned fishing gear.

Commission tables update to rules on excise duties
An update of rules governing excise duty on alcohol within the EU, proposed Friday by the Commission, would reduce costs for small alcohol-producing businesses and better protect consumer health.

Excise duties for alcohol
The European Commission proposed on 28 May to reshape the rules governing excise duty on alcohol within the EU, paving the way for a better business environment, reduced costs for small alcohol-producing businesses and better protection for consumer health.

Boost for SME access to EU finance markets
The European Commission proposed new rules Thursday to give small and medium enterprises (SMEs) easier and cheaper access to financing through public markets to help them expand.

Commission proposal to amend the Motor Insurance Directive
The European Commission proposed on 24 May to strengthen EU rules on motor insurance to better protect victims of motor vehicle accidents and improve the rights of insurance policyholders.

Brussels looks to boost EU market for sustainable finance
The Commission put forward a new set of proposals on sustainable finance Thursday, hoping more sustainable investments from the EU financial sector can lead the way to a greener economy.

Commission proposals on financing sustainable growth
The EU Commission delivered on 24 May the first concrete actions to enable the EU financial sector to lead the way to a greener and cleaner economy.

EU finance proposals: first steps towards sustainability
Today's sustainable finance proposals from the European Commission would encourage more sustainable investments. The proposals are the first steps towards implementing some of the recommendations of the EU's High-Level Expert Group on sustainable finance.

Draft EU Budget 2019 - Commission proposals
The European Commission proposed on 24 May the 2019 draft EU Budget of EUR 166 billion in commitments, corresponding to a 3% increase over 2018, investing in a stronger and more resilient European economy and promoting solidarity and security on both sides of the EU's borders.

France moves off EU's deficit list, Romania and Hungary warned
The EU Commission recommended Wednesday that the excessive deficit procedure be closed for France, and warned Hungary and Romania of the need to act early to correct deviations from their fiscal targets.

European Semester 2018 Spring Package
The European Commission has taken the next steps in the 2018 cycle of the European Semester of economic policy coordination.

EU adopts amended money laundering, terrorist financing rules
The EU Council adopted Monday a directive strengthening EU rules to prevent money laundering and terrorist financing - part of an action plan launched after a spate of terrorist attacks in Europe in 2016.

Brussels raises EU's long-term budget to plug Brexit gap
The EU Commission set out proposals for a 'pragmatic, modern, long-term budget for the 2021-2027 period' Wednesday, raising funding for security and defence and acknowledging the budget gap left by Brexit.

Solid growth forecast for EU economy
Growth in the European economy is set to remain strong in 2018 and ease only slightly in 2019, with growth of 2.3% and 2.0% respectively, according to the EU's Spring Economic Forecast published Thursday.

Spring 2018 Economic Forecast
Growth rates for the EU and the euro area beat expectations in 2017 to reach a 10-year high at 2.4%. Growth is set to remain strong in 2018 and ease only slightly in 2019, with growth of 2.3% and 2.0% respectively in both the EU and the euro area. Economic forecast documents - GDP growth map - Economic forecast by country

MFF proposal sends positive signal, but needs sharpening
In a first reaction on today's European Commission proposal for the next Multiannual Financial Framework, UEAPME called it a positive signal for European businesses and welcomes the increase in support to investment in future growth and jobs.

Commission budget proposal squanders any claim to EU environmental leadership
Today's proposal by the European Commission for the next multi-annual financial framework (MFF) clearly demonstrates that there is hardly any ambition of the EU to lead on delivering international agreements such as the Paris Agreement and the 2030 Agenda for sustainable development.

Member States need to do more on pensions, says EU
Further measures are needed if EU Member States are to maintain the income of men and women for the duration of retirement and prevent old-age poverty, an EU report on pensions adequacy said Monday.

Commission proposals for long-term EU Budget (2021-2027)
The European Commission proposed on 2 May a 'pragmatic, modern, long-term budget for the 2021-2027 period'.

EU-Budget Post-2020 has to provide strong support to SMEs
Ahead of the European Commission's expected decision on its proposal for the next Multiannual Financial Framework (MFF), UEAPME publishes the SME priorities as regards the European budget for the next 7 years. According to UEAPME, the next MFF has to aim for making Europe more competitive and a better place to live in instead of trying to protect old and inefficient structures.

Motor vehicles generate EUR 413 billion in taxes for EU-15, new data shows
The latest data shows that taxation on motor vehicles in the EU-15 is worth EUR 413 billion annually - about three times the total budget of the European Union. This figure is up 4% compared with one year earlier.

EC collective redress proposal fails to follow its own recommendations against potential abuse
Insurance Europe is concerned about the implications of the European Commission’s proposal for a Directive on representative actions for the protection of the collective interests of consumers, which was published yesterday. The proposal would repeal the 2009 Injunctions Directive, and govern how consumers launch collective legal actions against organisations, such as insurers.

Cheap euro transfers to be extended to non-euro states
The European Commission proposed Wednesday to make cross-border payments in euro cheaper across the entire EU, instead of only for transactions between Member States of the eurozone.