Euro & Finance

Economy & Jobs 19-04-2019

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.
Banking union 18-04-2019

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).
Future EU 18-04-2019

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...
Economy & Jobs 11-04-2019

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.
Economy & Jobs 11-04-2019

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.
Economy & Jobs 05-04-2019

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.
Economy & Jobs 03-04-2019

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.  
Auditing 02-04-2019

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.
Brexit 02-04-2019

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.
Economy & Jobs 02-04-2019

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).
Economy & Jobs 01-04-2019

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).
Economy & Jobs 29-03-2019

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.
Banking union 29-03-2019

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 27-03-2019

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.
Competition 25-03-2019

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.
Economic governance 25-03-2019

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.
Economy & Jobs 15-03-2019

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...
Economy & Jobs 15-03-2019

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.
Economy & Jobs 12-03-2019

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.
Economy & Jobs 12-03-2019

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.
Economy & Jobs 12-03-2019

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.
Economy & Jobs 12-03-2019

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.
Climate change 04-03-2019

Time to get rid of EU’s unanimity rule on green fiscal matters

Taxation is the last EU policy area where decision-making exclusively relies on unanimity. A gradual shift to qualified majority voting would help reach environmental objectives more effectively at a time when action on climate change is more urgent than ever, argue Eero Yrjö-Koskinen, Patrick ten Brink and Emma Watkins.

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