Economy & Jobs

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22-10-2021

National digital taxes and US sanctions to be withdrawn after OECD tax deal

A group of European countries agreed with the United States on Thursday to withdraw their digital taxes. The move by Austria, France, Italy, Spain, and the United Kingdom follows an international tax deal agreed earlier this month that aims to allocate parts of the profits from highly profitable, big corporations to countries in which revenue is generated.
22-10-2021

Can the AI regulation save workers from surveillance capitalism?

As algorithms continue to have an ever more crucial role in the workplace, lawmakers are concerned over their influence on workers' rights and wellbeing. A risk-based approach to Artificial Intelligence regulation tries to tackle this challenge, but is it enough?
China 21-10-2021

China vows to open up market, but US sees no change

China on Wednesday (20 October) promised the World Trade Organization it would further open its vast market, but the United States swiftly countered that Beijing showed "no inclination to change".
21-10-2021

Sudden departure of Jens Weidmann, the often lonely ECB voice against easy money

Bundesbank chief Jens Weidmann, who on Wednesday (20 October) announced his decision to stand down more than five years early, led a decade-long fight inside the European Central Bank against the easy-money policies espoused by successive ECB presidents.
20-10-2021

Hedge fund billionaire calls for higher capital requirements for fossil fuel financing

Days before the Commission is expected to publish its proposal to change capital requirements rules, billionaire hedge fund manager Chris Hohn called for a stricter treatment of fossil fuel investments in banks’ balance sheets. His call is supported by activists and experts who fear the effects of climate change on financial stability
Economic governance 20-10-2021

Brussels relaunches EU fiscal reform, aims to boost green investments

The European Commission on Tuesday (19 October) took another step towards reforming the EU’s much-discussed fiscal rules, including the bloc's strict debt and deficit limits enshrined in the Stability and Growth Pact.
19-10-2021

Chinese business chief wants climate dialogue instead of CBAM

China wants more dialogue with Europe on climate measures, according to the chairman of the Chinese Chamber of Commerce to the EU, who also detailed China's new data security law, which he said was the equivalent of the EU's data protection rules.
19-10-2021

Life after COVID: EU re-thinks budget rules for new era

So often the source of rows between its members, the European Union starts reviewing its rules for national budgets to fit a post-pandemic reality of higher public debt and the huge costs of transitioning to a zero-emissions economy.
18-10-2021

‘It will never work!’ Outgoing Eurochambres president criticises EU emission targets

In an interview with EURACTIV, the outgoing president of Eurochambres, an association of European chambers of commerce, has criticised the EU’s environmental policy and called for more trade "with all parts of the world", including China and Russia.
18-10-2021

Spanish government set to extend furlough schemes for one year

The Spanish government has proposed to extend temporary lay-off schemes. This system has significantly protected thousands of jobs endangered by the pandemic, only for one extra year. EURACTIV's partner EFE reports.
Economic governance 17-10-2021

Architect of EU fiscal rules calls for reform

Ahead of a new push by the European Commission to reform the EU's fiscal rules, the chief of the bloc's bailout fund, Klaus Regling pointed out the danger of sticking to rules that have become “economically nonsensical”.

Bulgaria’s recovery plan aims at 2040 coal exit: PM

Bulgaria will try to negotiate 2040 as its target deadline to phase out coal for electricity production when it submits its coronavirus recovery plan to the European Commission, interim PM Stefan Yanev said Thursday (14 October).
15-10-2021

German economic growth significantly lower than expected for 2021

Germany's economic growth forecast for 2021 has been "significantly" reduced by a group of the country's leading economic research institutes in their bi-annual economic projection report, published on Thursday (14 October).
14-10-2021

The EU’s path to trade sustainability

As public support for EU free trade deals is waning, civil society groups are hoping to help tighten the bloc's standards on trade sustainability as part of an ongoing consultation.
Economic governance 14-10-2021

EU directive on minimum corporate tax expected before end of year

Days after 136 countries agreed on an international tax deal, a European Commission official announced that a directive to implement the corporate minimum tax rate might be forthcoming before the end of the year.
14-10-2021

Spanish government presents ‘social’ budget for 2022

Spain’s Finance Minister María Jesús Montero presented the draft 2022 budget before parliament on Wednesday (13 October), with a record spending ceiling of €196.142 billion, fuelled by the EU's recovery fund. EURACTIV’s partner EFE reports.
13-10-2021

South Korean trade minister calls for closer ties with the EU

Ten years after the free trade agreement between the EU and South Korea was signed, South Korean trade minister Yeo seeks to modernize it by including investment protection and new technologies.

ECB policymaker Kazimir charged with bribery, denies wrongdoing

Slovak central bank Governor and European Central Bank governing council member Peter Kažimír has been charged with bribery but denies wrongdoing and will defend himself against the charges, Kazimir and his lawyer said on Tuesday (12 October).
13-10-2021

Macron presents France’s 2030 objectives, backed by €30 billion

French President Emmanuel Macron presented a massive investment plan, “France 2030”, on Tuesday (12 October). Backed by €30 billion, the plan will support innovation in flagship projects such as small-scale nuclear reactors and the first low-carbon aircraft.
The Berlaymont building lit in green
13-10-2021

EU launches world’s largest green bond issuance to date

The European Commission on Tuesday (12 Octobre) issued €12 billion worth of green bonds on financial markets to finance the green parts of its €800 billion coronavirus recovery fund. This represents the world’s largest green bond issuance to date.
Global Europe 11-10-2021

IMF board decision hangs over Georgieva as IMF-World Bank annual meetings begin

Data-rigging allegations against IMF Managing Director Kristalina Georgieva were set to loom over the opening of week-long IMF-World Bank annual meetings on Monday (11 October) as the Fund's executive board failed to conclude its review after yet another marathon meeting.
Economic governance 08-10-2021

136 countries agree on international tax reform

More than 100 countries agreed on Friday (8 October) a reform of the international tax regime intended to make it fit for the digital age and respond to longstanding concerns about corporate tax evasion.

Brussels seeks ‘international coalition’ on trade in green goods

The European Commission will convene a ministerial meeting next year to promote trade as a way of reaching climate and environmental objectives in what could be the first step towards the creation of a “climate club” called for by Germany....
08-10-2021

Ireland agrees to global tax deal, sacrificing prized low rate

Ireland dropped its opposition to an overhaul of global corporate tax rules on Thursday (7 October), agreeing to give up its prized 12.5% tax for large multinationals in a major boost to efforts to impose a minimum rate worldwide.