Euro & Finance
EU anti-tax fraud quest goes up a notch
The EU's anti-tax fraud programme, Fiscalis, got a shot in the arm from MEPs on Wednesday (17 April), when the European Parliament approved a revised version with a bigger budget. EURACTIV Germany reports.
EU states force clearing of Estonian, Danish regulators over Danske Bank
National banking supervisors who control the EU banking watchdog effectively forced it to clear financial regulators in Estonia and Denmark, who were investigated in relation to suspected money laundering activities by Danske Bank, a member of the European parliament said on Wednesday (17 April).
Ahead of EU polls, Poland’s Kaczynski urges crossparty anti-euro stance
The leader of Poland’s ruling conservatives on Wednesday (17 April) urged opposition leaders to back its view that the country should not join the euro until its economy is on a par with that of western neighbours. When Poland joined...
Germany’s Scholz: Must avoid escalation in EU-US trade dispute
German Finance Minister Olaf Scholz has said financial leaders must use talks in Washington this week to avoid any escalation in trade disputes as political risks pose the biggest threat to a slowing world economy.
Brexit uncertainty weighs on eurozone growth, Draghi warns
ECB President Mario Draghi warned on Wednesday (10 April) that the uncertainty around Brexit was weighing on the eurozone’s growth but said he was still “hopeful” that major disruptions could be averted.
Greece gets €1 billion in return for reform progress
The eurozone finance ministers approved on Friday (5 April) the disbursement of €970 million to Greece, following the country's successful implementation of outstanding measures agreed as part of its post-bailout monitoring.
EU tells Britain to reclaim illegal tax breaks offered to multinationals
A preferential UK tax scheme designed to attract multinational companies partially violated EU state aid rules, the European Commission concluded on Tuesday (2 April), calling on British authorities to recover the undue tax breaks, only a few days away from Brexit.
Future project funding at risk, EU auditors say
The backlog of money the European Union must pay from its budget reached a new high of €267 billion at the end of 2017, the European Court of Auditors (ECA) warned on Tuesday (2 April) and urged the Commission to reduce it.
Dombrovskis warns of ‘disruptions’ in case of disorderly Brexit
European Commission Vice-President Valdis Dombrovskis warned on Tuesday (2 April) that UK’s disorderly departure from the EU could cause “disruptions” following decades of financial integration and bring volatility to markets and business operations.
EU watchdog gains new powers to fight money launderers
Member states on Monday (1 April) approved giving new powers to the European Banking Authority (EBA) to fight money laundering and terrorism financing, as part of an improvement of the European supervisory agencies (ESAs).
Brussels was right about Italy’s weak growth, Juncker says
It is an overstatement to claim that Italy’s debt constitutes a risk for global markets, but a zero-growth rate can only worsen Rome's problems, European Commission President Jean-Claude Juncker said in an interview with state broadcaster RAI on Sunday (31 March).
EU Parliament condemns insufficient measures against tax evasion and fraud
The European Parliament approved a report during its plenary session requesting EU institutions and member states to adopt measures against money laundering, fiscal fraud and tax evasion, EURACTIV's media partner Euroefe reports.
Lagarde urges European leaders to agree on common guarantee for savings
The Managing Director of the International Monetary Fund, Christine Lagarde, called on eurozone leaders on Thursday (28 March) to complete the banking union by reaching an agreement on the European Deposit Insurance Scheme (EDIS).
Brexit ‘not imminent risk to financial stability’, says bank watchdog
Despite the volatility that would trigger the UK’s departure from the EU, Brexit does not represent an “imminent risk” to financial stability, according to Single Resolution Board President Elke König.
Commerzbank to quell fears of job losses, trade union to call strike 28 March
The management of Germany's Commerzbank has a clear strategy about the planned merger with Deutsche Bank and is "working hard" in order to reach a decision as quickly as possible, CEO Martin Zielke said in an internal e-mail sent to the bank’s employees and seen by EURACTIV.
Brussels ‘really worried’ about Italy’s slowing economy
The EU warned Sunday (24 March) of a new row brewing with Italy over its budget, barely a few months after both sides agreed on a hard-fought deal with Rome's disputed 2019 finances.
Fair taxation: A mixed bag of results for the Juncker Commission
Since the LuxLeaks scandal, the fair taxation agenda has made some headway. But resistance from member states has also blocked many measures during the Juncker Commission mandate. EURACTIV France reports. What conclusions can be drawn from the Juncker Commission’s fair...
EU’s ‘Tobin tax’ now expected to collect only €3.5 billon
The latest proposal for an EU financial transaction tax (FTT) received lukewarm support earlier this week, with expected revenues brought down tenfold, to €3.45 billion annually, under a watered-down version tabled by France and Germany, according to documents seen by EURACTIV.
EU tax haven blacklist triples to include 15 countries
EU finance ministers approved on Tuesday (12 March) the addition of 10 more countries to the EU's blacklist of tax havens, which currently includes only five jurisdictions and aims to help prevent tax fraud or evasion.
EU court shields ECB from disclosing key document in Greek crisis
The European Union's court on Tuesday denied access to a European Central Bank (ECB) document which underpinned its decision to freeze vital funding to Greek banks in 2015, a turning point in the country's financial crisis.
Eurozone delays Greece debt relief over household insolvency law
Eurozone ministers on Monday (11 March) held back granting Greece debt relief because the government failed to implement reforms promised during the massive bailout that ended last year, officials said.
Eurogroup keeps anti-shock capacity for eurozone budget off the table
Eurogroup president Mario Centeno said late on Monday (11 March) that the future eurozone budget would not include a stabilisation function, despite insistance by France and a handful of other countries to broaden its scope.
Member states reject Commission’s blacklist of money launderers
EU member states rejected on Thursday (7 March) the European Commission’s blacklist of countries unwilling to cooperate in the fight against money laundering and terrorism financing, as they blamed the EU executive of not being transparent during the drafting process.