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Latest stories – Economy, finance, tax and competition

Winter 2016 Economic Forecast: Weathering new challengesChoose translations of the previous link 

Pierre Moscovici © EU

04/02/2016

Economy, finance, tax and competition, Institutional affairs

The European economy is now entering its fourth year of recovery and growth continues at a moderate rate, driven mainly by consumption.

 

Commission presents Action Plan to strengthen the fight against terrorist financingChoose translations of the previous link 

Person holding euro notes © EU

02/02/2016

Economy, finance, tax and competition, External relations and foreign affairs, Justice and citizens rights

The recent terrorist attacks in the European Union and beyond demonstrate the need for a strong coordinated European response to combatting terrorism. The European Agenda for Security had identified a number of areas to improve the fight against terrorist financing.

 

Fiscal Sustainability Report 2015Choose translations of the previous link 

Pen on graph © EU

25/01/2016

Economy, finance, tax and competition

The Fiscal Sustainability Report 2015 provides an overview of the challenges to public finance sustainability faced by Member States in the short, medium and long term.

 

Stop geo-blocking and boost e-commerce and digital innovation, says Parliament

Woman using tablet computer © EU

19/01/2016

Business, Economy, finance, tax and competition, Science and technology

Geo-blocking consumers’ online access to goods and services on the basis of their IP address, postal address or the country of issue of credit cards is unjustified and it must stop, says Parliament in a resolution.

 

Main results of the Economic and Financial Affairs Council

Mr Valdis Dombrovskis and Mr Jeroen Dijsselbloem © EU

15/01/2016

Economy, finance, tax and competition

The Council discussed growth prospects and macroeconomic imbalances under the "European Semester", the EU's annual policy coordination process. It adopted conclusions, and approved a draft recommendation on the economic policies of the euro area.

 

Maximising the contribution of the European Structural and Investment Funds to the Commission's prioritiesChoose translations of the previous link 

Euro note on euro coins © EU

14/12/2015

Economy, finance, tax and competition, Regions and local development

Today, the Commission adopted a Communication on the contribution of the European Structural and Investment Funds (ESI Funds) to the EU's growth strategy, the Investment Plan and the Commission's priorities over the next decade.

 

Giving Europeans more choice in financial services: the European Commission consultsChoose translations of the previous link 

Jonathan Hill © EU

10/12/2015

Economy, finance, tax and competition, Environment, consumers and health

For the next three months, the European Commission will be consulting on how to create a stronger European market for consumer financial services. The aim is to find a system that works for consumers across the EU, giving them access to the best financial service deals, with more suitable products, a bigger choice and more competitive prices.

 

Commission proposes modern digital contract rules to simplify and promote access to digital content and online sales across the EUChoose translations of the previous link 

Günther Oettinger, Andrus Ansip, Vĕra Jourová © EU

09/12/2015

Economy, finance, tax and competition, Environment, consumers and health, Science and technology

Delivering on its Digital Single Market strategy, the Commission today presents two proposals to better protect consumers who shop online across the EU and help businesses expand their online sales.

 

Main results of the Economic and Financial Affairs Council

Mr Valdis Dombrovskis and Mr Pierre Gramegna © EU

08/12/2015

Economy, finance, tax and competition

The Council took a number of decisions on corporate taxation. It adopted a directive on cross-border tax rulings, which will improve transparency on tax rulings given by member states to companies about how taxation will be dealt with.

 

European Central Bank lowers interest rates

Euro coins and banknotes © EU

03/12/2015

Economy, finance, tax and competition, Statistics

At today’s meeting the Governing Council of the ECB decided that the interest rate on the deposit facility will be decreased by 10 basis points to -0.30%, with effect from 9 December 2015. The interest rate on the main refinancing operations and the interest rate on the marginal lending facility will remain unchanged at 0.05% and 0.30% respectively.

 

Closing the loop: Commission adopts ambitious new Circular Economy Package Choose translations of the previous link 

Frans Timmermans and Jyrki Katainen © EU

02/12/2015

Business, Economy, finance, tax and competition, Environment, consumers and health

Today the Commission adopted an ambitious new Circular Economy Package to stimulate Europe's transition towards a circular economy which will boost global competitiveness, foster sustainable economic growth and generate new jobs.

 

The Commission proposes to overhaul prospectus rules to improve access to finance for companies and simplify information for investorsChoose translations of the previous link 

Jonathan Hill © EU

30/11/2015

Economy, finance, tax and competition

Small and medium-sized companies in particular will find it easier to raise funding when issuing shares or debt. Companies already listed on public markets will also benefit when they want to list additional shares or issue corporate bonds.

 

Annual Growth Survey 2016: Strengthening the recovery and fostering convergenceChoose translations of the previous link 

Valdis Dombrovskis, Marianne Thyssen and Pierre Moscovici © EU

26/11/2015

Economy, finance, tax and competition

Today’s package launches the annual cycle of economic governance. It sets out general economic and social priorities for the EU and gives Member States policy guidance for the following year.

 

A stronger Banking Union: New measures to reinforce deposit protection and further reduce banking risksChoose translations of the previous link 

Jonathan Hill © EU

24/11/2015

Economy, finance, tax and competition

Today, the Commission has proposed a euro-area wide insurance scheme for bank deposits and has set out further measures to reduce remaining risks in the banking sector in parallel.

 

EP backs deal on better information, advice and protection for insurance buyers

Euro note on euro coins © EU

24/11/2015

Economy, finance, tax and competition, Environment, consumers and health

Buying insurance will be made easier and safer following Parliament's vote on Tuesday tightening EU rules on the information and advice provided by insurance sales staff.

 

Main results of the Eurogroup

Mr Jeroen Dijsselbloem, President of the Eurogroup © EU

23/11/2015

Economy, finance, tax and competition, Institutional affairs

The Eurogroup discussed the euro area member states' draft budgetary plans for 2016. These plans have to be submitted each year by 15 October, and the European Commission assesses whether they comply with the rules of the Stability and Growth Pact (SGP). 

 

European Commission holds orientation debate on how to complete the Banking UnionChoose translations of the previous link 

Euro symbol made of coins © EU

11/11/2015

Economy, finance, tax and competition

This debate is an indispensable part of achieving a full and deep Economic and Monetary Union (EMU), and in particular about bringing forward a proposal for a European Deposit Insurance Scheme (EDIS).

 

EU to pursue the most ambitious sustainable development, labour and environment provisions in TTIP Choose translations of the previous link 

Cecilia Malmstrom © EU

06/11/2015

Business, Economy, finance, tax and competition, Employment and social rights, Environment, consumers and health

The European Commission published today its proposal for a chapter on trade and sustainable development, including labour and the environment, in the ongoing EU-US trade talks.

 

Autumn 2015 Economic Forecast: Moderate recovery despite challengesChoose translations of the previous link 

Pierre Moscovici © EU

05/11/2015

Economy, finance, tax and competition

The economic recovery in the euro area and the European Union as a whole is now in its third year. It should continue at a modest pace next year despite more challenging conditions in the global economy.

 

€7.6 Billion of European Investment to Support Key Transport ProjectsChoose translations of the previous link 

Jyrki Katainen and Violeta Bulc © EU

05/11/2015

Business, Economy, finance, tax and competition, Transport and travel

The Commission is launching the second call for proposals of the Connecting Europe Facility, with more than €7.6 billion of investment to finance transport projects. €6.5 billion are earmarked for countries with Cohesion Fund eligibility.

 

European Parliament adopts Commission proposal to improve transparency of the shadow banking sector Choose translations of the previous link 

Euro notes © EU

29/10/2015

Economy, finance, tax and competition

Following a vote in the European Parliament, new EU rules are set to improve the transparency of certain financial transactions and help supervisors and investors better understand risks.

 

A deeper and fairer Single Market: Commission boosts opportunities for citizens and businessChoose translations of the previous link 

Map of Europe with cable connections © EU

28/10/2015

Business, Economy, finance, tax and competition, Environment, consumers and health

Today the European Commission has presented a roadmap to deliver on President Juncker’s political commitment to unleash the full potential of the Single Market and make it the launchpad for Europe to thrive in the global economy.

 

Completing Europe's Economic and Monetary Union: Commission takes concrete steps to strengthen EMUChoose translations of the previous link 

Valdis Dombrovskis © EU

21/10/2015

Economy, finance, tax and competition

The package of measures adopted by the College of Commissioners entails a revised approach to the European Semester, including through enhanced democratic dialogue and further improved economic governance, such as the introduction of national Competitiveness Boards and an advisory European Fiscal Board.

 

Commission decides selective tax advantages for Fiat in Luxembourg and Starbucks in the Netherlands are illegalChoose translations of the previous link 

Margrethe Vestager © EU

21/10/2015

Economy, finance, tax and competition

The European Commission has decided that Luxembourg and the Netherlands have granted selective tax advantages to Fiat Finance and Trade and Starbucks, respectively. These are illegal under EU state aid rules.

 

Main results of the European Council

Family photo of the European Council © EU

15/10/2015

Economy, finance, tax and competition, External relations and foreign affairs, Institutional affairs

Discussions at the European Council meeting focused on the migration and refugee crisis, the upcoming referendum in the UK, and the president’s report on the Economic and Monetary Union.

 

Trade for All: European Commission presents new trade and investment strategy Choose translations of the previous link 

Cecilia Malmström © EU

14/10/2015

Business, Economy, finance, tax and competition

This more responsible approach responds to new economic realities in line with the EU's foreign policy. Based on three key principles - effectiveness, transparency and values - it ensures trade policy benefits as many people as possible.

 

Opening up the online payments market, so as to reduce fees and fraud risks

Opening up the online payments market, so as to reduce fees and fraud risks

08/10/2015

Economy, finance, tax and competition

Updating EU rules on payment services will cut the cost of paying bills, by enabling new market players to use mobile and online tools to make payments on a client’s behalf, said MEPs voting a law to this end.

 

Main results of the Economic and Financial Affairs Council

Mr Pierre Moscovici and Mr Pierre Gramegna © EU

06/10/2015

Economy, finance, tax and competition

The Council reached a political agreement on a draft directive aimed at improving transparency in the assurances given by member states to companies about how their taxes are calculated.

 

Main results of the Competitiveness Council

From left to right: Ms Elzbieta BIENKOWSKA and Mr Etienne SCHNEIDER © EU

01/10/2015

Business, Economy, finance, tax and competition

Ministers discussed urgent micro-economic issues and held a debate as to how to maximise European added-value through making sure that EU regulation contributes to removing barriers to the Single Market.

 

Capital Markets Union: an Action Plan to boost business funding and investment financing Choose translations of the previous link 

Jonathan Hill © EU

30/09/2015

Business, Economy, finance, tax and competition, Institutional affairs

The European Commission is launching the Capital Markets Union Action Plan today to help build a true single market for capital across the 28 EU Member States.

 

Managing the Refugee Crisis: Budgetary measures under the European Agenda on MigrationChoose translations of the previous link 

Refugees walking across field © EU

30/09/2015

Economy, finance, tax and competition, External relations and foreign affairs, Institutional affairs

The European Commission has today made a first set of concrete proposals for €1.7 billion of EU funding in 2015 and 2016 in order to address the refugee crisis – money EU Heads of State and Government committed to matching last week.

 

Investment Plan for Europe goes global: China announces its contribution to #investEU Choose translations of the previous link 

Euro symbol, notes and coins © EU

28/09/2015

Economy, finance, tax and competition, External relations and foreign affairs

At the High Level Economic and Trade Dialogue in Beijing today, China announced its intention to contribute to the Investment Plan, as well as closer cooperation with the EU on investment issues in general.

 

Commission’s 2015 EU Consumer Scoreboard shows untapped e-commerce potentialChoose translations of the previous link 

E-commerce illustration © EU

21/09/2015

Business, Economy, finance, tax and competition, Environment, consumers and health

The 2015 edition of the Consumer Scoreboard shows that cross-border e-commerce is still an under-developed market in Europe: 61% of consumers feel more confident buying online from their own country (61%) than from another EU country (38%).

 

Commission presses Member States on VAT revenue collectionChoose translations of the previous link 

Calculator and 50 euro note © EU

04/09/2015

Economy, finance, tax and competition, Statistics

VAT revenue collection has failed to show significant improvement across EU Member States according to the latest figures released by the European Commission today.

 

European Central Bank keeps interest rates unchanged

View of financial district in Frankfurt © EU

03/09/2015

Economy, finance, tax and competition, Statistics

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20% respectively.

 

Commission signs three-year ESM stability support programme for GreeceChoose translations of the previous link 

Person holding folder with EU flag © EU

20/08/2015

Economy, finance, tax and competition, Institutional affairs

The European Stability Mechanism (ESM), Europe's firewall established in 2012 in response to the global financial crisis, will be able to disburse up to EUR 86 billion in loans over the next three years, provided that Greek authorities implement reforms to address fundamental economic and social challenges, as specified in the MoU.

 

Main results of the Eurogroup meeting

From left to right: Mr Valdis DOMBROVSKIS, Vice President of the European Commission; Mr Jeroen DIJSSELBLOEM, President of the Eurogroup; Mr Klaus REGLING, European Stability Mechanism Managing Director

14/08/2015

Economy, finance, tax and competition

On 14 August 2015, the Eurogroup issued a statement welcoming the agreement reached between Greece and the European institutions, with input from the IMF, on the policy conditionality underlying the new European Stability Mechanism(ESM) programme for Greece. 

 

A new start for jobs and growth in Greece: Commission mobilises more than €35 billion from the EU budgetChoose translations of the previous link 

Valdis Dombrovskis and Corina Cretu © EU

15/07/2015

Economy, finance, tax and competition

Two days after an agreement paving the way for a new support programme for Greece, the European Commission revealed plans today to help Greece maximise its use of EU funds.

 

Main results of the Economic and Financial Affairs Council

From left to right: Mr Valdis DOMBROVSKIS, Vice President of the European Commission; Mr Pierre GRAMEGNA, Luxembourg Minister of Finance © EU

14/07/2015

Economy, finance, tax and competition

The Council issued country-specific recommendations and opinions on the economic, fiscal and employment policies planned by the member states, as well as a specific recommendation on the economic policies of the euro area.

 

Main results of the Eurogroup meeting

From left to right: Mr Pierre MOSCOVICI, Member of the European Commission; Mr Jeroen DIJSSELBLOEM, President of the Eurogroup; Mr Klaus REGLING, European Stability Mechanism Managing Director © EU

13/07/2015

Economy, finance, tax and competition, Institutional affairs

Ministers held a follow-up discussion on the agreement negotiated at the Eurogroup and the Euro Summit over the previous two days following the request by Greece for financial assistance from the European Stability Mechanism, which had been submitted on 9 July 2015.

 

Main results of the Euro Summit

Mr Jean-Claude Juncker, Mr Donald Tusk and Mr Jeroen Dijsselbloem © EU

13/07/2015

Economy, finance, tax and competition, Institutional affairs

On 13 July 2015, the leaders from the euro area member states agreed in principle that they are ready to start negotiations on an ESM financial assistance programme for Greece.

 

Main results of the Euro Summit

Mr Jean-Claude Juncker and Mr Donald Tusk © EU

07/07/2015

Economy, finance, tax and competition, Institutional affairs

The leaders of the euro area member states discussed the situation in Greece following the referendum held on 5 July. After the meeting President of the Euro Summit Donald Tusk confirmed that the euro area authorities were ready to do all that is necessary to ensure the financial stability in the euro area.

 

Statement by the European Commission following the referendum in GreeceChoose translations of the previous link 

Greek flag © EU

05/07/2015

Economy, finance, tax and competition, Institutional affairs

The European Commission takes note of and respects the result of the referendum in Greece. President Juncker is consulting tonight and tomorrow with the democratically elected leaders of the other 18 Eurozone members as well as with the Heads of the EU institutions.

 

Commission puts forward record €13.1 billion investment in transport infrastructure to boost jobs and growth Choose translations of the previous link 

Violeta Bulc © EU

29/06/2015

Business, Economy, finance, tax and competition, Transport and travel

Today the Commission is further delivering on its top priority of creating jobs and boosting growth in Europe, by unveiling a record €13.1 billion investment plan in 276 transport projects, selected under the Connecting Europe Facility (CEF).

 

Main results of the European Council

European Council family photo © EU

26/06/2015

Economy, finance, tax and competition, External relations and foreign affairs, Institutional affairs

Discussions at the European Council meeting focused on Greece, migration, the upcoming referendum in the UK, security and defence and economic issues.

 

Spurring economic recovery: Parliament approves Juncker Plan rules

Construction workers building metro station in Athens © EU

24/06/2015

Business, Economy, finance, tax and competition

The €315-billion “Juncker” investment plan, announced by the European Commission last November to encourage the financing of viable investments in Europe, was backed by the European Parliament in a vote on Wednesday.

 

Main results of the Euro Summit

Mr Donald Tusk, President of the European Council © EU

22/06/2015

Economy, finance, tax and competition

The leaders held an exchange of views on Greece and clarified the positions and the situation in the ongoing talks between the Greek authorities and the institutions (the European Commission, the European Central Bank and the International Monetary Fund).

 

Five Presidents' Report sets out plan for strengthening Europe's Economic and Monetary Union as of 1 July 2015Choose translations of the previous link 

Euro notes, coins and symbol © EU

22/06/2015

Economy, finance, tax and competition, Institutional affairs

Today, the five Presidents have revealed ambitious plans on how to deepen the Economic and Monetary Union (EMU) as of 1 July 2015 and how to complete it by latest 2025.

 

Main results of the Economic and Financial Affairs Council

From left to right: Mr Valdis DOMBROVSKIS, Vice President of the European Commission; Mr Janis REIRS, Latvian Minister for Finance © EU

19/06/2015

Economy, finance, tax and competition

The Council agreed its negotiating stance on structural measures to improve the resilience of EU credit institutions.

 

Commission presents Action Plan for Fair and Efficient Corporate Taxation in the EU Choose translations of the previous link 

Pierre Moscovici, Valdis Dombrovskis © EU

17/06/2015

Business, Economy, finance, tax and competition

The Action Plan sets out a series of initiatives to tackle tax avoidance, secure sustainable revenues and strengthen the Single Market for businesses.

 

Commission proposes draft EU budget 2016: focus on jobs, growth, migration and global action Choose translations of the previous link 

Kristalina Georgieva and Valdis Dombrovskis © EU

27/05/2015

Economy, finance, tax and competition, Institutional affairs

The Commission today proposed a 2016 EU budget of €143.5 billion in payment credits to support the recovery of the European economy and help improve lives in Europe and beyond.

 

Tougher rules on money laundering to fight tax evasion and terrorist financing

Euro notes © EU

20/05/2015

Economy, finance, tax and competition, Justice and citizens rights

The ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a "legitimate interest", such as investigative journalists, under new rules already agreed with the Council and endorsed by Parliament.

 

Main results of the Economic and Financial Affairs Council

Mr Valdis Dombrovskis, Vice President of the European Commission and Mr Janis Reirs, Latvian Minister for Finance © EU

12/05/2015

Economy, finance, tax and competition

The Council adopted conclusions on in-depth reviews of economic imbalances in the member states, underscoring the need for strong commitment to structural reforms.

 

Unleash innovation to spur growth in Europe Choose translations of the previous link 

Carlos Moedas © EU

07/05/2015

Business, Economy, finance, tax and competition, Science and technology

Improving Europe's capacity to innovate and be globally competitive requires further efforts to encourage disruptive ideas and foster their commercial up-take. These are some of the conclusions to be drawn from the latest ranking of innovation performance across Europe.

 

A Digital Single Market for Europe: Commission sets out 16 initiatives to make it happen Choose translations of the previous link 

Andrus Ansip and Günther Oettinger © EU

06/05/2015

Economy, finance, tax and competition, Science and technology

Today, the European Commission unveiled its detailed plans to create a Digital Single Market, thereby delivering on one of its top priorities.

 

Spring 2015 Economic Forecast: Tailwinds support the recovery Choose translations of the previous link 

Pierre Moscovici  © EU

05/05/2015

Economy, finance, tax and competition

Economic growth in the European Union is benefitting from positive economic tailwinds. According to the European Commission's Spring 2015 Economic Forecast, these short-term factors are boosting an otherwise mild cyclical upswing in the EU.

 

Commission sends Statement of Objections to Gazprom for alleged abuse of dominance on gas supply markets Choose translations of the previous link 

Margrethe Vestager © EU

22/04/2015

Economy, finance, tax and competition, Energy and natural resources

The European Commission has sent a Statement of Objections to Gazprom alleging that some of its business practices in Central and Eastern European gas markets constitute an abuse of its dominant market position in breach of EU antitrust rules.

 

Commission sends Statement of Objections to Google on comparison shopping service Choose translations of the previous link 

Margrethe Vestager © EU

15/04/2015

Economy, finance, tax and competition, Science and technology

The European Commission has sent a Statement of Objections to Google alleging the company has abused its dominant position in the markets for general internet search services in the European Economic Area (EEA) by systematically favouring its own comparison shopping product in its general search results pages.

 

Combatting corporate tax avoidance: Commission presents Tax Transparency Package Choose translations of the previous link 

Pierre Moscovici © EU

18/03/2015

Economy, finance, tax and competition

The European Commission presented a package of tax transparency measures as part of its ambitious agenda to tackle corporate tax avoidance and harmful tax competition in the EU.

 

Growth, solidarity and paying the bills are Parliament's 2016 budget priorities

Person counting euro notes © EU

11/03/2015

Economy, finance, tax and competition, Institutional affairs

Next year’s EU budget priorities should be to foster growth by supporting job-creation, firms and entrepreneurship; to show solidarity with countries both inside and outside the EU; and to put EU finances in order, said Parliament in a resolution.

 

MEPs put an end to opaque card payment fees

Credit card © EU

10/03/2015

Economy, finance, tax and competition, Environment, consumers and health

The fees that banks charge retailers to process shoppers’ payments will be capped, under uniform EU-wide rules, further to a vote in Parliament.

 

Second estimate for the fourth quarter of 2014 GDP up by 0.3% in the euro area and by 0.4% in the EU28 Choose translations of the previous link 

Euro banknote on euro coins © EU

06/03/2015

Economy, finance, tax and competition, Statistics

Seasonally adjusted GDP rose by 0.3% in the euro area (EA18) and by 0.4% in the EU28 during the fourth quarter of 2014, compared with the previous quarter, according to a second estimate published by Eurostat, the statistical office of the European Union.

 

Main results of the Competitiveness Council

European flag at the Justus Lipsius building © EU

02/03/2015

Economy, finance, tax and competition, Institutional affairs

The Competitiveness Council took place against the background of the broad priorities of the Latvian presidency to achieve a competitive and digital Europe. It included debates on those areas where the EU's single market and a dynamic innovation policy can increase Europe's capacity to deliver economic growth and jobs.    

 

January 2015 - Annual inflation down to -0.6% in the euro area - Down to -0.5% in the EUChoose translations of the previous link 

Stethoscope and house made of euro coins and banknotes © EU

24/02/2015

Economy, finance, tax and competition, Statistics

Euro area annual inflation was -0.6% in January 2015, down from -0.2% in December. This was the lowest rate recorded since July 2009. In January 2014 the rate was 0.8%. European Union annual inflation was -0.5% in January 2015, down from -0.1% in December. 

 

Unlocking Funding for Europe's Growth - European Commission consults on Capital Markets UnionChoose translations of the previous link 

Coin © EU

18/02/2015

Business, Economy, finance, tax and competition

The European Commission has launched its landmark project to unlock funding for Europe’s businesses and to boost growth in the EU’s 28 Member States with the creation of a true single market for capital.

 

Main results of the Economic and Financial Affairs Council

European flag outside Council building © EU

18/02/2015

Economy, finance, tax and competition

The Council discussed a proposal to establish a European fund for strategic investments, which is expected to mobilise at least €315bn in private and public investment.  

 

Europe's Finance Ministers endorse EIB Group engagement in Juncker plan

EU file © EU

17/02/2015

Economy, finance, tax and competition

Europe’s Finance Ministers welcomed the proposal for the European Investment Bank Group to manage the European Fund for Strategic Investments (EFSI) within the EIB under the Investment Plan for Europe announced last November.

 

Parliament sets up a special committee on tax rulings

Euro bills © EU

12/02/2015

Economy, finance, tax and competition

Parliament as a whole voted to set up a special parliamentary committee to look into EU member states’ "tax rulings and other measures similar in nature or effect" and make recommendations for the future. The committee will have 45 members and is established for an initial period of six months.

 

Winter Economic Forecast: outlook improved but risks remainChoose translations of the previous link 

Pen on graph © EU

05/02/2015

Economy, finance, tax and competition

For the first time since 2007, the economies of all European Union Member States are expected to grow again this year, according to the European Commission's winter forecast.

 

Pension funds should benefit from a further two year exemption from central clearing requirements Choose translations of the previous link 

EU flag in front of Commission building © EU

03/02/2015

Economy, finance, tax and competition

The European Commission has published a report that recommends granting pension funds a two-year exemption from central clearing requirements for their over-the-counter (OTC) derivative transactions.

 

Investment plan for Europe

Pierre Moscovici, Pier Carlo Padoan and Kristalina Georgieva © EU

27/01/2015

Economy, finance, tax and competition

The Council discussed a proposal to establish a European fund for strategic investments, which is expected to mobilise at least €315bn in private and public investment.

 

ECB announces expanded asset purchase programme

European Central Bank building in Frankfurt © EU

22/01/2015

Economy, finance, tax and competition

Aimed at fulfilling the ECB’s price stability mandate, this programme will see the ECB add the purchase of sovereign bonds to its existing private sector asset purchase programmes in order to address the risks of a too prolonged period of low inflation.

 

Commission and EIB launch new advisory service on financial instruments Choose translations of the previous link 

Jyrki Katainen © EU

19/01/2015

Economy, finance, tax and competition

The European Commission, in partnership with the European Investment Bank (EIB), is launching fi-compass, a new advisory service on financial instruments for the European Structural and Investment Funds.

 

Employment and Social Developments: Annual Review highlights key factors behind resilience to crisis Choose translations of the previous link 

Marianne Thyssen © EU

15/01/2015

Economy, finance, tax and competition, Employment and social rights

Countries providing high quality jobs and effective social protection as well as investment in human capital have proved to be more resilient to the economic crisis. This is one of the main findings of the 2014 Employment and Social Developments in Europe Review.

 

Commission presents law for the European Fund for Strategic Investments Choose translations of the previous link 

Euro symbols on cranes © EU

13/01/2015

Business, Economy, finance, tax and competition

Just 50 days after announcing its ambitious Investment Plan for Europe to boost jobs and growth, the European Commission today adopted the legislative proposal for the European Fund for Strategic Investments, which will be established in close partnership with the European Investment Bank (EIB).

 

European Commission publishes TTIP legal texts as part of transparency initiative Choose translations of the previous link 

Documents in folder on table © EU

07/01/2015

Business, Economy, finance, tax and competition, External relations and foreign affairs

The European Commission today published a raft of texts setting out EU proposals for legal text in the Transatlantic Trade and Investment Partnership (TTIP) it is negotiating with the US.

 

2 major challenges for Europe: investment and Eastern neighbourhood

European Council group photo © EU

18/12/2014

Economy, finance, tax and competition, External relations and foreign affairs, Institutional affairs

EU leaders focused on Europe's two most important challenges: boosting investment, and the situation at its eastern borders. It was the first European Council chaired by Donald Tusk as President and it followed a shorter format, a 'one day summit'.

 

Parliament approves EU budgets for 2014 and 2015

Euro symbol, notes and coins © EU

17/12/2014

Economy, finance, tax and competition, Institutional affairs

Parliament approved the draft EU budget for 2015 and a top-up of the 2014 one. The budget foresees €145.32 billion in commitments and €141.21 billion in payments for 2015, and an extra €4.25 billion to settle unpaid bills in 2014.

 

A New Start: European Commission work plan to deliver jobs, growth and investment Choose translations of the previous link 

Person holding folder with EU flag © EU

16/12/2014

Economy, finance, tax and competition, Employment and social rights, Institutional affairs

The European Commission adopted its Work Programme for 2015 – setting out the actions the Commission intends to take over the next 12 months to make a real difference for jobs, growth and investment and bring concrete benefits for citizens.

 

Investment plan for the EU gets backed by the Council

European flag outside Council building © EU

09/12/2014

Economy, finance, tax and competition

EU finance ministers gave their broad support to the Commission's recently announced €315 billion investment plan. They also approved two measures for combating tax fraud and tax avoidance, and agreed on the calculation of the contributions to the single resolution fund.

 

Investment Offensive for Europe: EU Task Force identifies 2,000 potential projects worth €1.3 trillion Choose translations of the previous link 

Workers and machinery in factory © EU

09/12/2014

Business, Economy, finance, tax and competition

The EU Task Force on Investment published a report showing that there is significant potential for investment in Europe. It identifies around 2,000 projects across Europe worth some €1.3 trillion of potential investments.

 

Council discusses action to boost the single market

Jyrki Katainen and Federica Guidi © EU

05/12/2014

Business, Economy, finance, tax and competition, Transport and travel

At their meeting in Brussels, EU competitiveness ministers agreed on what needs to be done to develop the single market and step up Europe's economic integration.

 

EU Annual Growth Survey 2015: A new Momentum for Jobs, Growth and Investment Choose translations of the previous link 

Valdis Dombrovskis, Marianne Thyssen & Pierre Moscovici © EU

28/11/2014

Economy, finance, tax and competition, Employment and social rights

The 2015 Annual Growth Survey (AGS) published by the European Commission today focuses on putting Europe firmly back on a path of sustainable job creation and economic growth.

 

EU launches Investment Offensive to boost jobs and growth Choose translations of the previous link 

Euro symbols on cranes © EU

26/11/2014

Economy, finance, tax and competition, Employment and social rights

The European Commission today announced a € 315 billion Investment Plan to get Europe growing again and get more people back to work.

 

Making the best use of EU money

Igors Ludboržs © EU

25/11/2014

Economy, finance, tax and competition

In its landscape review of risks to the financial management of the EU budget, published today, the European Court of Auditors (ECA) identifies key issues for good financial management of the EU's finances.

 

Preventing tax avoidance in the EU: Council discusses amendment to the parent-subsidiary directive

Pierre Moscovici, Pier Carlo Padoan and Kristalina Georgieva © EU

07/11/2014

Economy, finance, tax and competition

At the Ecofin meeting the Council discussed the introduction of a draft common anti-abuse clause in the EU's 2011 parent-subsidiary directive. The amendment aims to prevent tax avoidance and aggressive tax planning in the EU in specific situations.

 

2014 Autumn Economic forecast: Slow recovery with very low inflationChoose translations of the previous link 

Jyrki Katainen and Pierre Moscovici © EU

04/11/2014

Economy, finance, tax and competition, Statistics

The European Commission's autumn forecast projects weak economic growth for the rest of this year in both the EU and the euro area. Real GDP growth is expected to reach 1.3% in the EU and 0.8% in the euro area for 2014 as a whole.

 

Commission presents options for simpler and more robust future VAT regime Choose translations of the previous link 

Draft of contract in folder © EU

30/10/2014

Economy, finance, tax and competition

Ideas on how to ensure a simpler, more effective and more fraud-proof VAT system tailored to the Single Market in the EU have been outlined in a paper published by the Commission.

 

Taxation: Study confirms billions lost in VAT Gap Choose translations of the previous link 

Calculator and 50 euro note © EU

23/10/2014

Economy, finance, tax and competition

An estimated €177 billion in VAT revenues was lost due to non-compliance or non-collection in 2012, according to the latest VAT Gap study published by the Commission.

 

Combating tax evasion: Council agrees rules on automatic exchange of information

Algirdas Šemeta and Pier Carlo Padoan © EU

15/10/2014

Economy, finance, tax and competition

The Council reached an agreement on a directive that amends the existing EU rules for the exchange of information between the tax administrations of the member states.

 

SMEs still struggled in 2013, in spite of signs of positive economic recovery Choose translations of the previous link 

Worker in woodwork shop © EU

03/10/2014

Business, Economy, finance, tax and competition

These are the conclusions of the annual SMEs Performance Review and country-specific SBA factsheets published today by the European Commission.

 

September 2014: Business and Consumer surveysChoose translations of the previous link 

Graph displaying ESI indicator © EU

29/09/2014

Business, Economy, finance, tax and competition, Statistics

In September the Economic Sentiment Indicator (ESI) decreased in both the euro area (by 0.7 points to 99.9) and the EU (by 1.0 point to 103.6). The Business Climate Indicator (BCI) for the euro area decreased slightly by 0.09 points to +0.07.

 

August 2014: Euro area annual inflation stable at 0.4% - EU stable at 0.5%Choose translations of the previous link 

Stethoscope on euro coins and banknotes © EU

17/09/2014

Economy, finance, tax and competition, Statistics

Euro area annual inflation was 0.4% in August 2014, unchanged compared to July. In August 2013 the rate was 1.3%. Monthly inflation was 0.1% in August 2014.

 

Industrial competitiveness: Commission reports underline need for incisive action by EU and Member StatesChoose translations of the previous link 

Flags of EU Member States ©  EU

11/09/2014

Economy, finance, tax and competition

EU manufacturing possesses a number of competitive strengths that should be leveraged to promote economic growth, despite the current difficult economic environment. This is the conclusion of the two reports on industrial competitiveness released by the Commission.

 

European Central Bank lowers interest rates

Euro notes © EU

04/09/2014

Economy, finance, tax and competition, Statistics

The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility will decrease to 0.05% and 0.30% respectively. The interest rate on the deposit facility will decrease to -0.20%.

 

August 2014: Business and Consumer surveysChoose translations of the previous link 

Pen on graph © EU

28/08/2014

Business, Economy, finance, tax and competition, Statistics

In August the Economic Sentiment Indicator (ESI) fell in the euro area (by 1.5 points to 100.6) and the EU (by 1.2 points at 104.6). The Business Climate Indicator (BCI) for the euro area remained broadly flat (at +0.16) compared to July (+0.17).

 

Commission adopts strategy and action plan for better customs risk management Choose translations of the previous link 

Customs officers removing boxes from containers © EU

21/08/2014

Business, Economy, finance, tax and competition, Justice and citizens rights

Robust customs risk management is essential to protect the safety and security of the EU and its citizens, the interests of legitimate traders and EU financial interests, while at the same time enabling the smooth flow of trade.