About: Ecofin
The unclear future of Germany’s ‘debt brake’
According to media reports, finance minister Olaf Scholz (SPD) has tried to break German frugality rules and take on more debt. This earned him harsh criticism from the co-governing CDU/CSU Union and parts of the opposition and the ministry now denies any plans to change the debt brake.
EU expands tax heavens blacklist to Cayman Islands and Panama
EU finance ministers added on Tuesday (18 February) the Cayman Islands and Panama, together with Palau and the Seychelles, to the bloc's blacklist of tax havens, which now includes twelve countries.
Commission wary of side effects of Libra regulation
The European Commission has called for a “proportionate” and differentiated approach to regulating digital currencies including Facebook’s Libra, as the EU needs to preserve is developing Fintech environment.
Europe agrees to put forward one candidate for IMF chair
EU finance ministers unanimously decided on Tuesday (9 July) to present one single candidate to succeed Christine Lagarde as Managing Director of the International Monetary Fund.
Watered-down Tobin tax could enter into force in 2021
EU finance ministers will discuss on Friday (14 June) a new draft proposal for a financial transaction tax (FTT), which will significantly lower expected revenues once participating member states adopt it, according to details of the text seen by EURACTIV.
Romania torpedoes EU deal on alcohol excise duties over moonshine
Member states clashed on the reform of the directive on alcohol excise duties during a meeting of EU financial ministers last Friday (17 May), as the Romanian Presidency of the EU tried to raise the maximum limit on home distillation, in pursuit of its own national interest.
LEAK: Commission ramps up pressure on minimum corporate tax
European Commission will urge finance ministers on Friday (17 May) to agree on a floor to corporate taxation, as part of a strategy to shape the ongoing global debate on tax matters, according to documents seen by EURACTIV.com
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.
Member states shield national vetoes on tax matters
A large majority of EU governments opposed on Tuesday (12 February) the European Commission’s proposal to end the unanimity required to pass legislation on taxation, saying they want to protect national sovereignty and avoid having decisions forced on reluctant countries.
France and Germany backtrack on digital tax scope
France and Germany presented on Tuesday (4 December) revised plans for the EU's proposed digital tax reforms under which large firms would pay a levy only on advertising sales and not on total revenues, representing a significant reduction of the Commission's original scope.
EU reaches limited agreement to bolster economic and monetary union
EU finance ministers concluded a deal on Tuesday (4 December) to bolster the region with new tools to save ailing banks and member states but postponed Europe-wide instruments to protect depositors or stabilise national economies.
Stark divisions among member states in EU digital tax plans
EU finance ministers remain divided over a raft of issues in the European Commission's digital services tax (DST) plans after a meeting on Tuesday (6 November) drew attention to a plethora of challenges in reaching a consensus.
Some countries ‘more comfortable’ with interim deal on digital tax, EU diplomats say
Some EU member states are likely to feel “more comfortable” with a temporary agreement on the EU’s digital tax plans rather than wait for international consensus, EU diplomats said on Monday (5 November), ahead of a meeting of EU finance ministers.
Ministers support giving more powers to EU watchdog to fight money launderers
The Ecofin Council “broadly” supported on Tuesday (2 October) the European Commission’s proposal to transfer more powers to the European Banking Authority to investigate alleged cases of money laundering in the EU.
Member states approve reduced tax for e-books and digital press
EU finance ministers reached an agreement on Tuesday (2 October) to allow willing member states to apply reduced VAT rates or even scrap taxes on electronic books and digital press.
Europe moves towards a common approach to regulate cryptoassets
European decision-makers and regulators are progressing towards an EU approach for dealing with cryptoassets, digital assets that use cryptography such as Bitcoin and represent a booming market still viewed with concern by financial supervisors.
Macron shifts focus away from eurozone reform to court Merkel
French President Emmanuel Macron, concerned that a divisive discussion over eurozone reform might undermine his broader European agenda, has begun prioritizing other areas of EU cooperation, French officials say.
EU’s tax haven list leaves out member states and British territories
After intense negotiations, EU member states point their finger at 17 tax havens in a somewhat succinct blacklist that disappointed officials, MEPs and transparency activists. EURACTIV France reports.
Mr Altmaier goes to Europe
At the start of this week, Eurogroup and ECOFIN met in Brussels. Interim Finance Minister Peter Altmaier attended the meetings on behalf of Germany for the first time. The talks focused on the banking union, fiscal policy and the Paradise Papers. EURACTIV Germany has an overview.
EU agrees to draft proposal to raise taxes on internet giants
A majority of member states agreed to start preparing a new levy on digital companies to compensate for low-tax regimes that cost billions of euros to European governments.
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).
Italy ups spending on earthquake clean-up, despite Commission deficit request
The Italian government will start to increase spending on emergency funds this week to deal with the earthquakes that have struck the country, independent of a European Commission request to reduce its structural deficit. EURACTIV’s partner Milano Finanza reports.
Member states support extension of Juncker Plan with EU funds
EU finance ministers on Tuesday (6 December) backed the European Commission’s proposal to expand the investment plan to mobilise at least €500 billion by 2020.