Euro & Finance
National digital taxes and US sanctions to be withdrawn after OECD tax deal
A group of European countries agreed with the United States on Thursday to withdraw their digital taxes. The move by Austria, France, Italy, Spain, and the United Kingdom follows an international tax deal agreed earlier this month that aims to allocate parts of the profits from highly profitable, big corporations to countries in which revenue is generated.
Sudden departure of Jens Weidmann, the often lonely ECB voice against easy money
Bundesbank chief Jens Weidmann, who on Wednesday (20 October) announced his decision to stand down more than five years early, led a decade-long fight inside the European Central Bank against the easy-money policies espoused by successive ECB presidents.
Life after COVID: EU re-thinks budget rules for new era
So often the source of rows between its members, the European Union starts reviewing its rules for national budgets to fit a post-pandemic reality of higher public debt and the huge costs of transitioning to a zero-emissions economy.
Fiscal reform and why it matters for climate
The EU's economic governance must drive climate action for a just transition, not austerity, writes Isabelle Brachet.
EU directive on minimum corporate tax expected before end of year
Days after 136 countries agreed on an international tax deal, a European Commission official announced that a directive to implement the corporate minimum tax rate might be forthcoming before the end of the year.
136 countries agree on international tax reform
More than 100 countries agreed on Friday (8 October) a reform of the international tax regime intended to make it fit for the digital age and respond to longstanding concerns about corporate tax evasion.
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.
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).
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.