Euro & Finance

Economy & Jobs 20-02-2019

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.
Economy & Jobs 14-02-2019

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).
Economy & Jobs 13-02-2019

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.
Banking union 11-02-2019

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.
Economy & Jobs 08-02-2019

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.
Economic governance 07-02-2019

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.
Banking union 05-02-2019

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. 
Economic governance 04-02-2019

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.
Digital 01-02-2019

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.
Economy & Jobs 30-01-2019

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.
Economy & Jobs 29-01-2019

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.
Economy & Jobs 28-01-2019

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.
Economy & Jobs 28-01-2019

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.
Economy & Jobs 22-01-2019

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. 
Energy 16-01-2019

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.
Economy & Jobs 16-01-2019

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.
Economy & Jobs 16-01-2019

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.
Digital 11-01-2019

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).
Economy & Jobs 11-01-2019

Russia ditches dollar, opts for euro and yuan

A report by the Bank of Russia published late on Wednesday (9 January) reveals that the country dumped $101 in US holdings from its reserves, shifting into euros and yuan last spring amid a new round of US sanctions.
Economy & Jobs 07-01-2019

Former Greek PM teases fresh bailout, Commission says Greece is ‘secured’

Greece’s position at the heart of the eurozone and the European Union is "secured", according to the European Commission, following remarks made by a former Greek prime minister who claimed the country will soon seek fresh EU aid.
Economy & Jobs 07-01-2019

20 years of the euro: An imperfect success story

The single currency, which was officially launched on 1 January 1999, has performed its role of shielding against crises and stabilising prices. However, the insufficient convergence of the eurozone’s economies shows the fragility of this incomplete construction. EURACTIV France’s media partner La Tribune reports.
Economy & Jobs 04-01-2019

Poland lashes out against EU and Paris over French deficit

Poland on Friday (4 January) accused France of breaching European Union laws by exceeding spending limits, the latest in a series of long-running clashes between the two member states. Paris last month forecast a 2019 deficit of 3.2%, which would...
Economy & Jobs 04-01-2019

Eurostat: Eurozone inflation slows to 1.6% in December

Eurozone inflation slowed to an annual rate of 1.6% in December, preliminary data from the EU statistics unit Eurostat showed on Friday (4 January), mainly owing to energy items.
Economy & Jobs 02-01-2019

ECB installs temporary administrators at Italian bank

Supervisors at the European Central Bank (ECB) said on Wednesday (2 January) they had ordered temporary administrators to take over floundering Italian lender Banca Carige after most of its board resigned.

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