Euro & Finance

Economic governance 07-10-2021

EU Parliament criticises member states’ inaction in debate on Pandora Papers

EU lawmakers criticised the bloc's finance ministers on Wednesday afternoon (6 October) for their inaction against tax avoidance, in a debate devoted to the Pandora Papers, the latest leak of financial documents exposing malpractice and tax avoidance by the rich and powerful across the globe.
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Economy & Jobs 05-10-2021

EU finance ministers strike three countries off tax haven blacklist, ignoring Parliament’s calls

Following a new massive leak of financial documents, the so-called Pandora Papers, EU lawmakers called for more action against money laundering and tax evasion and urged the bloc's finance ministers to review the blacklist of global offenders. However, the ministers chose to remove three countries from the list on Tuesday (5 October).
Economic governance 04-10-2021

Draghi on quest to challenge EU rules and grow out of public debt

Italian Prime Minister Mario Draghi unveiled an ambitious Italian budget for 2022-2024 last week, with deficits above the limits set by the Stability and Growth Pact, in what appears to be a bet on a change in the EU’s fiscal rulebook.
Energy 01-10-2021

Euro zone to discuss economic hit from soaring energy prices

Euro zone finance ministers will discuss soaring energy prices on Monday (4 October), concerned they could slow economic recovery, impact on investment decisions and disproportionately hit the poorest, a European Commission note showed.
OpinionPromoted content
Economy & Jobs 30-09-2021

Long-term financing and prudential rules: a dilemma that isn’t one

Over the last five years, banks and insurers have invested around €65 billion into private equity. That represents 15% of the overall investment in that asset class, which was then committed by these funds into companies of all sizes, from small start-ups to large established businesses.
Economic governance 28-09-2021

ECB-Lagarde reacts to MEPs’ inflation fears

European Central Bank chief Christine Lagarde told EU lawmakers on Monday that the recent uptick in inflation was likely to be a temporary phenomenon.

The EU taxonomy can strengthen SMEs in the green transition

Small and medium-sized companies stay exempt from the new disclosure rules on the EU’s sustainable finance taxonomy starting in 2022. However corporate leaders would be well-advised to follow its implications, including SMEs, writes Finn Wendland.
Economy & Jobs 27-09-2021

Euro zone corporate business slows further

Lending to eurozone companies slowed further last month, European Central Bank data showed on Monday, extending its steady downward trend and likely raising concern among policymakers about banks' reluctance to extend credit.
Economy & Jobs 24-09-2021

New York, London keep top spots in global financial centres index

New York easily kept the top spot in the latest Global Financial Centres Index (GFCI), while London held on to second place as Chinese cities slipped, according to the ranking published on Friday.
Economy & Jobs 23-09-2021

Investments, Climate, Stability: Goals of European Commission’s Solvency II proposal

With a proposal to reform the Solvency II directive, the European Commission aims to make the insurance industry an ally in achieving the Commission's political priorities.
Global Europe 23-09-2021

US urges Ireland to take global tax deal

US Treasury Secretary Janet Yellen urged Paschal Donohoe, the finance minister of Ireland, to take a "once in a generation opportunity" for a global deal that would stop a race to the bottom on corporate tax rates, the Treasury said.
Economy & Jobs 20-09-2021

MEP Freund: Von der Leyen, EPP still shielding Bulgaria’s ex-PM Borissov

In an exclusive interview, MEP Daniel Freund tells about his recent visit to Bulgaria, revealing the frustrations of the caretaker government which did not receive support from the EU Commission in its efforts to tackle money-laundering.
Economy & Jobs 17-09-2021

Bruegel’s Darvas: ‘We need much higher carbon prices in Europe’

In a paper discussed by EU finance ministers on 11 September, Bruegel think tank made the case for protecting green investment as part of the upcoming Stability and Growth Pact review. Bruegel’s Zsolt Darvas, one of the report's authors, told EURACTIV that most of the investment needed to reduce CO2 emissions would come from private sources.
Economy & Jobs 17-09-2021

Banking and fintech: not a zero sum game

By working together, and with policymakers, banks and fintech businesses can speed up the EU's economic recovery, writes Ellen Moeller
Economic governance 14-09-2021

The Brief, powered by EPRA — The politics of the pact

The EU’s fiscal rule book was an early victim of the COVID pandemic, correctly, pushed aside by the need to keep businesses afloat as lockdowns derailed economies. But it has not been forgotten.
Economic governance 10-09-2021

Commission hints at quick fix of fiscal rules in 2022

The European Commission said on Friday (10 September) that it will explore options to improve the Stability and Growth Pact by the end of next year, as member states are preparing for a bruising battle over the reform of the EU’s fiscal rules.
Economy & Jobs 10-09-2021

EU budget battle looms, as economy lifts out of crisis

European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.
Economy & Jobs 07-09-2021

Gas excluded from green bond financing under recovery fund

Green bonds will not finance gas projects included in national recovery plans, according to the new framework put forward by the European Commission on Tuesday (7 September).
Climate change 06-09-2021

EU considers debt relief for countries hit by floods, wildfires

The emergency costs related to this summer’s floods and wildfires could be classified as “a one-off” expenditure and therefore excluded from the calculation of EU countries’ public deficits this year, the European Commission has said.
Global Europe 06-09-2021

European banks active in tax havens despite scandals

European banks have not reduced their presence in tax havens, despite several scandals that have revealed the dubious practices multinationals use to avoid taxes, according to a study published on Monday (6 September).
Economy & Jobs 06-09-2021

High inflation looms over ECB meeting

Rising eurozone inflation provides the backdrop for the meeting of European Central Bank governors Thursday (9 September), with markets hoping for hints when policymakers might start easing their massive pandemic-era stimulus.
Economy & Jobs 24-08-2021

Euro zone business boom roared on in August, figures show

Business activity in the euro zone grew strongly this month, only dipping from July's two-decade high monthly pace, as a rapid COVID-19 vaccination drive allowed more firms to reopen and customers to venture out, a survey showed.
Economic governance 17-08-2021

The new crusade for fiscal prudence

The frugal alliance stands to gain very little if their campaign for premature fiscal consolidation following the pandemic succeeds, but they risk exposing the entire EU to serious political and economic consequences, writes Anna Peychev.
Economy & Jobs 29-07-2021

Commission extends deadline to approve Hungarian recovery plan 

The European Commission and Hungary agreed to extend until end of September a deadline for Budapest to meet demands on its €7 billion recovery plan, the institution said on Thursday (29 July).