Euro & Finance
ECB keeps easy money pledge despite better growth
The European Central Bank left its ultra easy monetary policy stance unchanged as expected on Thursday (20 July), keeping rates at record lows and even leaving the door open to more asset buys if the outlook worsens.
Winds of change: EU embarks on sustainable finance mission
Disturbing developments on the international political scene have only increased the resolve of the European Union to lead in taking action against the impact of climate change. Flavia Micilotta explains why financing is a key component.
Juncker Plan falls short of offering green projects, expert group says
The high-level group on sustainable finance proposed on Tuesday (18 July) a new platform to match capital and green projects, as the Juncker Plan did not develop the 'big pipeline' that was expected to unlock the money resting in the pockets of big investors.
Romanian government backtracks from plan to tax companies’ turnover
Romanian Prime Minister Mihai Tudose said yesterday (17 July) his leftist-led government had scrapped a plan to tax companies' turnover.
Germany made more than €1bn out of Greek crisis
Between its loans to Athens and its debt buying programmes, Germany has cashed in to the tune of €1.34bn since the beginning of the Greek crisis. EURACTIV’s partner La Tribune reports.
European fiscal board chief: ‘Stop talking about recovery, we are approaching normality’
Arguably, the EU’s economic governance framework is one of the most divisive issues among member states and top priority in Europe’s to-do list of outstanding reforms. Niels Thygesen does not shy away from this challenge. After questioning European Commission fiscal stance for this year recommendation, he proposed a return to a more ‘prudent’ orientation for 2018. In October, he will address one of the hottest topics: whether the application of the Stability and Growth Pact (SGP) unfairly favoured countries like France.
Macron: Germany is competitive thanks to eurozone weaknesses
Ahead of Thursday’s (13 July) Franco-German Ministerial Council, Friday’s Bastille Day celebrations and Donald Trump’s visit to Paris, President Emmanuel Macron spoke to EURACTIV’s partner Ouest-France about Europe's future, and France’s relations with the US.
Reshaping the financial system as a tool for good
The European Commission's High Level Expert Group on Sustainable Finance delivered its interim report today (13 July). Ingrid Holmes, one of the members of the group, explains how the financial system can help address long-term challenges such as climate change.
NGOs denounce cuts, tweaks to 2018 EU budget for development aid
EU member countries decided yesterday (12 July) to cut the proposed EU budget for 2018 by €1.2 billion. The European Parliament deplored this “mechanical” cut, while NGO’s denounced the decrease of development aid and its re-directing to combat immigration.
Macron urges greater eurozone convergence, presses Germany to act
The European Union remains an incomplete project and will require changes to its treaties that bring greater convergence between eurozone member states, French President Emmanuel Macron said in comments published on Thursday (13 July).
Commission says it’s time to end Greece’s excessive deficit procedure
The European Commission decided on Wednesday (12 July) to recommend that the EU Council close the excessive deficit procedure for Greece.
French backtracking on FTT undermines development commitments
France’s development aid objectives appear to be compromised by a reduction in the base of the Financial Transaction Tax (FTT), which funds more than 20% of the country’s international solidarity effort. EURACTIV France reports.
Europe to improve disclosure of ‘bad loans’ for all banks
European authorities will prepare by the end of next year enhanced disclosure requirements on bad loans to all banks as part of an action plan to tackle the risk of non-performing loans (NPL).
Katainen suggests dropping investment from trade deals
The European Union could drop investment from major free trade deals in an effort to ease ratification, Commission Vice President Jyrki Katainen said on Monday (10 July) as Brussels is set to begin talks on the issue with Japan.
How consumers and government can combat the shadow economy
Perhaps the clue is in its name but the shadow economy’s drain on economic growth and public finances can be difficult to recognise. And, unfortunately, consumers can often unwittingly contribute to its growth, writes George Simon.
‘Finance friendly’ France scores late points in Brexit bank contest
A government push to make France more "finance-friendly" is raising Paris' chances of attracting Brexit-fleeing banks from London although it is raising its game at a late stage in the process, a group of senior financial industry executives said.
The Netherlands: Europe’s under-the-radar tax haven
Dutch NGO Somo has been blowing the whistle on the Netherlands’ tax practices since 1973. So far, to little effect. The founding member of the European Union was still the world’s third-ranked tax haven in 2016. EURACTIV’s partner Ouest-France reports.
Commission must involve the people in next EU budget debate
French President Emmanuel Macron is right to propose public debates on the Future of Europe. But the EU budget is where change will first manifest itself, writes David Holyoake.
PM says time to end France’s addiction to spending
Prime Minister Édouard Philippe said on Tuesday (4 July) it was time to end France's addiction to easy public spending, promising to cut expenditures over the next five years and rein in debts he said were at an unacceptable level.
Regulating finance: What future for Europe after the US elections?
Efforts to strengthen risk management in the banking and insurance sector were stepped up in the wake of the 2008 financial crash.
France pledges to meet EU deficit target, despite strong headwinds
France will meet the EU deficit limit of 3.0% of GDP in 2017, the prime minister insisted Thursday (29 June), after the public accounts watchdog said it would miss the mark unless it took urgent action.
Basel III reform ‘unlikely’ by G20 meeting
EU and industry officials say it is “unlikely” that Europe and the US will agree on new rules to strengthen the banking sector by the time of the G20 meeting in Hamburg on 7-8 July.
Dombrovskis: ‘There is appetite for a pan-European pensions product’
The European Commission will propose a new pan-European personal pension today (29 June). In an interview with journalists, Commission Vice-President Valdis Dombrovskis argues that the new scheme would help save more money in an ageing society.
Tackling money laundering: Crucial to tax evasion and terrorist financing prevention
European Commissioner for Justice Věra Jourová has prioritised stepping up the fight against money laundering. In this opinion piece, she explains what steps have been taken and what more is to come.