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

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.

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.

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).

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.

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).

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.

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.

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.

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).

More than half of recovery plans approved, funds expected within days

EU finance ministers approved on Monday (26 July) the recovery plans of Croatia, Cyprus, Lithuania and Slovenia, bringing the total number of approvals to 16 out of the 27 member states.

Small businesses gain ground in sustainable recovery push

The EU’s recovery fund and new strategy on sustainable finance will expand the role small firms can play in building back the European economy in a sustainable manner, EU officials said.

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 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. 

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.

Revamping fiscal rules requires a new understanding on debt sustainability

It is necessary to reform the European Union’s flawed macroeconomic architecture as the post-pandemic world demands a new fiscal rulebook to boost our economies, argues Margarida Marques.

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.

Portugal: Improve EU single market for post-pandemic recovery

Portuguese Economy Minister Pedro Siza Vieira has said that the European Union's single market is still an "incomplete construction" with "barriers to be eliminated" but that steps to make it function better should be a foundation of the post-pandemic economic recovery.

A fairer playing field for businesses and consumers

The EU's new VAT regime will create rules fit for the digital age and benefit businesses and consumers, writes Gerassimos Thomas.

Commission to ease state aid straitjacket as recovery fund kicks in

The European Commission will present in the second half of this year a wide-ranging review of its state aid rules to facilitate public funding to strategic areas, as member states await the first transfers of the EU's recovery funds.