Euro & Finance
Croats increasingly pull money from bank savings to avoid tax
Croatian citizens and entrepreneurs that keep their money in current and giro accounts, rather than in savings, are growing in number at historically high rates. Bundles of banknotes are more and more common in house vaults, socks and mattresses. EURACTIV Croatia reports.
EU court rules against Commission on Belgium ‘excess profit’ tax scheme
The system of exception for the excess profit of Belgian entities that are part of multinational corporate groups does not constitute illegal state aid, contrary to the European Commission's previous assessment, the EU's top court ruled on Thursday (14 February).
The beacon of sustainable finance in Europe must not lose its flame
One year after the High-Level Expert Group on Sustainable Finance released its final report, the follow up on its recommendations is lagging somewhat behind, writes Catherine Howarth.
German SPD retreat: Barley, Bullmann and Moscovici call for fairer taxation
After a meeting between the SPD executive committee and the EU’s Commissioner for Economic Affairs in Berlin on Monday (11 February), all called for fairer taxation in Europe. EURACTIV Germany reports.
A new era for securitisation?
The coming into force of the simple, transparent and standardised (STS) securitisation rules in January was intended to mark a fresh start for securitisation within Europe. Richard Hopkin examines the likely effects of the EU's new rules on securitisation across the bloc.
EU governments must drive investors’ money where their mouth is
There is a big risk that the European Commission’s proposals on sustainable finance will be watered down when EU member states examine the draft legislation, warn Lis Cunha, Sebastien Godinot and Rachel Owens.
Italy’s populist leaders pledge to replace central bank’s top brass
Italy's populist leaders on Saturday (9 February) promised to replace top officials at the country's central bank, who they said must pay for failing to prevent a spate of banking scandals in which thousands lost their savings.
France ‘steps on the gas’ in eurobudget talks
France made surprising back-and-forth moves on Nord Stream 2, which could be explained by the country's effort to secure German and Dutch support in a completely different dossier.
Uncertainty dampens European growth
Euro area economy is expected to slow down more markedly than initially expected, because of the impact of increasing risks, including a disorderly Brexit, and external tensions primarily driven by the US-China trade war.
Deutsche Bank goes on the defensive in hearing with EU lawmakers
Deutsche Bank's chief anti-financial crime officer dodged questions from exasperated MEPs during a European Parliament hearing on Monday (4 February), amid reports of the German lender's involvement in a major money laundering case.
French finance chief wants to tax expatriate business leaders
French Minister of Economy and Finance Bruno Le Maire wants to introduce legislation to ensure that heads of large French businesses living abroad pay more taxes in France. EURACTIV France’s partner La Tribune reports.
Dirty money risks encroach on Estonia’s digital utopia
Estonia’s push to become a digital society has left it vulnerable to dirty money and sanction breaches, the country’s top banking regulator has warned.
EIB and Commission defend Juncker plan following auditors’ criticism
The European Investment Bank and the European Commission were forced to defend their flagship 'Juncker' investment plan, following a report of the European Court of Auditors published on Tuesday (29 January) that questioned its usefulness.
Juncker Plan’s results may be overstated, auditors say
The amount of investment mobilised by the European Fund for Strategic Investments (EFSI) may have been overestimated, a new report by the European Court of Auditors has warned. It added that it may have also favoured larger member states.
Draghi steps into political debate, calls for more togetherness in EU
As European partners remain disunited on the way forward to strengthen the eurozone, ECB President Mario Draghi made a wholehearted defence on Monday (28 January) of the need to act together to complete the economic and monetary union and increase the influence of the common currency abroad.
Carbon pricing and digital tax find traction in Davos
Business leaders and decision makers agreed during last week's World Economic Forum in Davos that new taxes, including carbon pricing or a digital levy, would not only achieve a fairer economic model but would also help to fight climate change and deal with the ageing population.
Eurogroup kick off race for ECB chief economist, Ireland’s Lane puts name forward
Ireland presented Philip Lane’s candidacy as chief economist at the European Central Bank on Monday (21 January), as the Eurogroup opened calls for nominations in a relaxed first session of the year.
ECB reshuffle: The EU can do better than gentlemen’s agreements behind closed doors
Appointments to the European Central Bank's Executive Board are no less than a strategic and political decision over the future of the Eurozone. But experience has shown this process is not transparent, open, and democratic enough to protect the ECB from its legitimacy gap, argue Stanislas Jourdan and Sebastian Diessner.
Tweets of the Week: Meaningful vote, Adamowicz, and the eurozone turns 20
This week, Theresa May thrashed by her peers, mayor’s murder brings Gdansk to tears and the Euro celebrates 20 years. This episode is supported by ACCA.
MEPs agree to fund ‘chimera’ nuclear fusion project
The European Parliament voted on Tuesday (15 January) to extend the funding of an experimental fusion power reactor through to 2027, although some MEPs are still concerned about the multi-billion euro moon-shot that could revolutionise the way power is generated.
Leaders call to complete eurozone on currency’s 20th anniversary
As the euro turns 20, leaders of the EU's main institutions called on member states to complete the reform of the Economic and Monetary Union, admitting mistakes were made in managing the eurozone debt crisis.
EU wants end to member state veto on tax
The European Commission on Tuesday (15 January) proposed to end the veto power member states have over EU tax matters, an idea rejected by several smaller countries including low-tax hub Ireland.
Cryptoasset investors exposed to substantial risks, two EU reports find
Cryptoassets are dangerously unregulated and may give rise to criminal activities, according to two recent assessments published by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).