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Finance and Monetary Affairs in the EU

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

New rules to protect investors and EU economy from bad loans 26 October 2017, 23:41 CET
The EU gave the final approval Thursday to new rules which mean packaged loans converted into securities will have to be made less complex and more transparent before selling them on to investors.

Obtaining brokerage and research services from non-EU brokers - guidance Q&A 26 October 2017, 22:32 CET
The European Commission issued guidance on 26 October in the form of frequently asked questions to clarify how EU investment firms subject to MiFID II should interact when they seek out brokerage and research services from broker-dealers in non-EU countries.

European Pillar of Social Rights website 23 October 2017, 23:14 CET
The European Pillar of Social Rights sets out a number of key principles and rights to support fair and well-functioning labour markets and welfare systems. It will serve as a compass for a renewed process of convergence towards better working and living conditions among participating member states. It is primarily conceived for the euro area, but is applicable to all EU Member States wishing to participate. There are 3 main categories of the pillar: Equal opportunities and access to labour market; Fair working conditions; and Social protection and inclusion.

Future of Europe: SMEs want Scenario for Growth, Jobs and Stability 19 October 2017, 00:01 CET
At the Tripartite Social Summit on shaping Europe’s future, and following the commitment to contribute to the debate, President Ulrike Rabmer-Koller put forward UEAPME priorities for the Future of Europe.

Brussels pushes ahead with banking risk-reduction package 11 October 2017, 23:53 CET
A financial system more stable and resilient to shocks will benefit citizens and businesses, the EU Commission said Wednesday as it outlined plans to accelerate completion of the EU's Banking Union.

Completing the Banking Union by 2018 11 October 2017, 23:25 CET
The European Commission proposed plans on 11 October 2017 to accelerate with the completion of the missing parts of the Banking Union.

EU Banking Union 11 October 2017, 23:18 CET
The banking union ensures that EU banks are stronger and better supervised. The single supervisory mechanism gives the European Central Bank certain supervisory tasks over the EU financial system. The single resolution mechanism (SRM) is a central institution for bank resolution in the EU, and one of the pillars of the banking union. The European deposit insurance scheme is a proposed scheme to protect retail deposits in the banking union.

EU green light for new rules to resolve tax disputes 11 October 2017, 15:47 CET
EU finance ministers gave their green light Tuesday to a new system for resolving resolve tax disputes between Member States, including over double taxation, seen as a major obstacle for businesses.

EU adopts position on climate finance ahead of COP23 11 October 2017, 15:30 CET
EU finance ministers met in Luxembourg Tuesday to discuss and adopt the EU’s position on climate finance, ahead of the next international climate summit COP23 in Bonn in November.

EU VAT reform to crack down on fraud 05 October 2017, 15:49 CET
The EU Commission set out plans Wednesday for the biggest reform of EU VAT rules in a quarter of a century, hoping to crack down on an estimated EUR 50 billion in tax revenue lost to cross-border VAT fraud.

VAT reform in the EU 05 October 2017, 00:09 CET
The European Commission launched plans on 4 October 2017 for the biggest reform of EU VAT rules in a quarter of a century.

EU appraises bids for agencies leaving Britain after Brexit 03 October 2017, 20:38 CET
The EU Commission published Monday its assessment of the 27 offers received from Member States to host the European Banking Authority and the European Medicines Agency - currently located in the United Kingdom.

European Banking Authority and European Medicines Agency after Brexit - Commission assessment of country offers 03 October 2017, 18:26 CET
European Commission publishes assessment of Member State offers to host European Banking Authority and European Medicines Agency after Brexit

EUR 152 bn VAT gap points way to EU reform 29 September 2017, 18:18 CET
The EU Commission published a report Thursday showing that EU Member States lost an estimated total of EUR 152 billion in VAT revenues in 2015, as it readies for an overhaul of the VAT system.

MEPs call for EU-wide minimum income 28 September 2017, 22:37 CET
Introducing minimum income schemes in all EU Member States is one of the most effective ways to lift people out of poverty, Euro-MPs on the Parliament's Employment Committee said on Thursday.

VAT Gap questions & answers 28 September 2017, 22:24 CET
EU Member States lost EUR 152 billion in 2015, according to a European Commission report, which the EU executive says shows there is urgent need for VAT reform.

EBF Report: Towards a Green Finance framework 28 September 2017, 15:47 CET
Under the title 'Towards a Green Finance Framework,' the European Banking Federation today published a report that assesses the role of the banking sector in the context of the discussion on green finance.

Greece no longer in breach of EU budget deficit rules 26 September 2017, 23:26 CET
The European Union closed its excessive deficit procedure for Greece Monday, confirming that the country's deficit is now below 3 per cent of GDP, the EU's reference value for government deficits.

EU and US sign bilateral insurance deal 25 September 2017, 12:44 CET
After 20 years of discussion and a year of formal talks, the European Union and the US signed a landmark bilateral agreement on insurance and reinsurance Saturday.

EU - US Agreement on insurance and reinsurance 25 September 2017, 12:41 CET
The European Union and the US signed a landmark bilateral agreement on insurance and reinsurance on 23 September 2017.

Digital economy must gear up for EU tax reform 22 September 2017, 11:39 CET
The EU Commission launched its agenda to reform taxation of online business Thursday, paving the way for a legislative proposal on EU rules for taxation of profits in the digital economy.

EC fintech consultation response: New technology, but same rules must apply 21 September 2017, 23:50 CET
Insurance Europe responded to the European Commission’s consultation on "Fintech: a more competitive and innovative European financial sector".

Banks must inform clients of risks of foreign currency loans: EU Court 21 September 2017, 22:42 CET
Banks lending in foreign currencies are under an obligation to provide sufficient information to enable a borrower to take prudent and well-informed decisions, the EU's top Court ruled Wednesday.

Recording energy performance contracts in national accounts - Eurostat guidance 21 September 2017, 22:16 CET
Eurostat has published a guidance note on the accounting consequences for governments of energy performance contracts.

Fair Taxation of the Digital Economy 21 September 2017, 18:48 CET
The European Commission Communication 'A Fair and Efficient Tax System in the European Union for the Digital Single Market' was adopted on 21 September 2017. The taxation of the digital economy is part of the EU's fair taxation agenda. It wants an ambitious EU agenda on the matter and a common EU approach to influence the international discussions and develop meaningful solutions to taxing the digital economy to be agreed at the international level by spring 2018.