About: Ecofin
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.
The threat of populism must be a non-issue in decision to fine Portugal and Spain
Stability and Growth Pact rules must be applied to the letter if the eurozone is to keep any kind of credibility. Populism must not be used as an excuse to reward irresponsible budgetary policies, argues Friedrich Heinemann.
Spain and Portugal braced for EU deficit verdict on 12 July
The Slovak presidency of the EU expects the European Commission to recommend sanctions against Spain and Portugal for breaching EU budget deficit rules this week, in time for a decision at the upcoming Ecofin meeting of finance ministers on 12 July.
Diplomat: Dutch presidency will promote economic and environmental cooperation
The rotating Presidency of the Council of the EU fell to the Netherlands at the beginning of January 2016. EURACTIV France spoke to Ed Kronenbug, the Dutch envoy to France, about the EU's top priorities over the next six months.
EU considers petrol tax to pay for refugee crisis
Germany’s Finance Minister Wolfgang Schäuble has floated the idea of a European petrol tax to finance the rising costs of the refugee crisis, which are eating into member states' budgets. EURACTIV France reports.
EU-Turkey €3 billion migrant deal blocked by Italy
Italy is blocking a European Union plan to provide Turkey with €3 billion in aid in exchange for a commitment to stem the flow of migrants into Europe, two European officials said yesterday (14 January).
COP21 deal at risk over development aid ‘greenwashing’
Development aid commitments by European Union countries are at “increasing risk” of being greenwashed to meet climate finance promises to poorer nations that could be a “deal-breaker” for an international agreement to cap global warming later this month.
FTT negotiations fall short of 2015 target
Diplomats from 11 EU member states had hoped to come to an agreement on the future European tax on financial transactions by today, 9 December. But talks failed due to disagreements over how the tax should be collected. EURACTIV France reports.
ECOFIN and the AMLD review
?The Council would be smart to embrace outsiders that can keep an eye out for irregularities in beneficial ownership information, writes Koen Roovers.
Eurozone backs ESM credit line for Greece after bailout exit
Eurozone finance ministers backed a precautionary credit line for Greece on Thursday (6 November), after the country exits its bailout at the end of the year, in a bid to balance the need to reassure investors with the demands of Greek politics.
Italy faces resistance to push for softer EU spending rules
Italy and its allies will receive no special leeway in meeting EU budget rules, the influential chairman of eurozone finance ministers said on Tuesday (8 July), as Germany resisted attempts to soft-pedal on long-promised spending reforms.
Italy vows to use presidency to change Europe
Days before Italy assumes the presidency of the EU on 1 July, the country’s top man in Brussels said his government will push a reform agenda, starting with an aggressive plan for investment to reinvigorate the bloc, and inject new blood into the anemic recovery.