Economy & Jobs
EU to tighten rules on cryptoasset transfers
Companies that transfer bitcoin or other cryptoassets must collect details of senders and recipients to help authorities crack down on dirty money, EU policymakers proposed on Tuesday (20 July) in the latest efforts to tighten regulation of the sector.
Expert: Digital euro ‘not clear yet and might not be for a long time’
As the digital euro moves to the experimentation phase, experts criticise the lack of clarity around the project and the decade long delay compared to cryptocurrencies.
EU launches WTO dispute against Russia over procurement
The European Union has launched a legal challenge at the World Trade Organisation against Russian measures it says restrict or prevent EU companies from selling goods to Russian state-owned enterprises.
Brussels approves €1 bn fund for pandemic-hit Spanish firms
The European Commission approved on Monday Spain’s proposal to set up a €1 billion recapitalisation fund to help the recovery of Spanish companies affected by the pandemic, EURACTIV’s partner EUROEFE reported.
UK-Spain flights soar 400% after quarantine rules changed
Flights between the UK and Spain have increased by 400% as British holidaymakers take advantage of news rules that mean residents returning to England from destinations on the government's amber list no longer have to quarantine if they are fully vaccinated, EURACTIV’s partner EFE reported.
China steps up climate fight with emissions trading scheme
Two days after the European Union unveiled new carbon-cutting plans, China launched its long-awaited emissions trading system on Friday (16 July), a key tool in its quest to drive down climate change-causing greenhouse gases and go carbon neutral by 2060.
Spain’s new COVID-19 restrictions halt return of tourism sector
Soaring COVID-19 infection rates and tough new restrictions to curb the increase have dealt a fresh blow to Spain’s pandemic-weary tourism and hospitality sectors, especially in sun-kissed resorts along the Mediterranean, the Balearics and the Canary Islands. EURACTIV’s partner EFE reports.
Ireland rejects global tax reform plans, says Donohoe
Ireland will not support global tax reform plans, Finance Minister Paschal Donohoe insisted Thursday (15 July), entrenching its hold-out position as momentum builds for a deal meant to ensure multinationals pay a fair share.
EU unlocks first recovery funds amid growing Delta fears
EU-27 finance ministers in the Ecofin Council approved on Tuesday (13 July) the first batch of twelve national recovery plans, paving the way for the first payments by the end of this month, as the spread of the Delta variant of COVID-19 across Europe increases the risk of new restrictions.
Assess full effects of technology on work before regulating, warns EU tech lawmaker
EU lawmakers should make sure they see the full effects of technological change on working patterns before they regulate them, as we are likely to see a continued shift towards remote and flexible employment, policymakers said at an event hosted by EURACTIV on the future of work across the bloc.
EU puts its digital tax on hold after US pressure
The European Commission announced on Monday (12 July) it will put on hold its own proposal for a digital levy in Europe in order to facilitate a global tax agreement. The digital tax, which would have affected US tech giants, was postponed following repeated calls from Washington on the Europeans to cancel their plans.
France pushes for 25% target for taxing multinationals’ super-profits
Countries should be able to tax a quarter of big multinationals' profits no matter where they are earned, France proposed on Saturday (10 July) at a G20 finance ministers meeting focused on overhauling the rules for cross-border corporate taxation.
ECB pledges to factor climate change more into policy
The European Central Bank said on Thursday (8 July) that it would further incorporate climate change considerations into its monetary policy, including on disclosure, risk assessment, and decisions on collateral and corporate sector asset purchases.
Amid Delta scare, EU forecasts higher growth in eurozone
The eurozone economy will grow faster than previously thought both this year and next, the European Commission said on Wednesday (7 July), despite emerging concerns the fast-spreading Delta variant of the coronavirus could lead to new restrictions.
EU to propose Anti-Money Laundering Authority
The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of crypto-assets, EU documents showed as the bloc responds to calls for tougher action to fight dirty money.
Global tax reform plan goes to the G20
G20 finance ministers meeting in Venice on Friday and Saturday (9-10 July) could rally the world's top economies behind a global plan to tax multinationals more fairly, already hashed out among 130 countries representing 90% of world output.
Spanish regions to reimpose restrictions on nightlife
Local authorities in Spain have said they will roll back relaxations of restrictions on party venues and nightclubs as primary healthcare services are having to deal with a rise of COVID-19 cases among the country’s youth. EURACTIV’s partner EFE reports.
French champagne houses cry foul over Russian label rule
Champagne houses in France issued a plea for diplomatic help over a new Russian law reserving the term "champagne" for Russian-produced sparkling wines, which led to a temporary interruption of supplies from the market leader Moët Hennessy.
Youth will hold EU lawmakers responsible if reopening botched
European youth are in urgent need of targeted economic and mental health support to help them weather the long-term recovery from the pandemic, business and civil society representatives told a recent EURACTIV event.
Global tax deal backed by 130 nations, Ireland and Hungary stay out
A total of 130 countries have agreed a global tax reform ensuring that multinationals pay their fair share wherever they operate, the OECD said on Thursday (1 July), but some EU states refused to sign up.
EU to fight ‘geography of discontent’ with new vision for rural areas
The European Commission unveiled on Wednesday (30 June) its long-term vision for the EU's rural areas, proposing a rural pact and a rural action plan aimed at making those regions stronger, connected, and prosperous.
Commission wants tougher rules for consumer credit deals
The European Commission proposed caps on interest rates for consumer credit agreements and a ban on bundling practices as part of tougher consumer credit rules following the surge in online shopping during COVID-19 lockdowns and the rise of digital lenders.
Lagarde makes a case for ‘green’ capital markets union
The President of the European Central Bank, Christine Lagarde, on Wednesday (29 June) called for initiatives to create a capital markets union for sustainable finance.