Inflation continues to decline but is still expected to remain too high for too long. The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner. It therefore today decided to raise the three key ECB interest rates by 25 basis points. The rate increase today reflects […]
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Where does your ice cream come from?
In 2020, the EU produced over 2.9 billion litres of ice cream, representing a 9% decline from the previous year. Over the same period, EU Member States exported 232 million kilograms of ice cream to non-EU countries, worth a total of €752 million. In addition, imports of ice cream from countries outside the EU amounted to 79 […]
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Council agrees its position on 2024 draft budget
The ambassadors of member states to the EU (Coreper) agreed the Council’s position on the 2024 EU draft budget. In total, the Council’s position for next year’s budget amounts to €187.008 billion in commitments and €141.167 billion in payments. Overall, the Council takes a prudent approach. The Council stresses the importance for the budget for 2024 […]
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Commission decides to register initiative on taxing great wealth in the EU
The Commission decided to register a European Citizens’ Initiative (ECI) entitled ‘Taxing great wealth to finance the ecological and social transition’. The organisers of the initiative call on the Commission to establish a European tax on great wealth for the benefit of the ecological and social transition. The aim of the initiative is to contribute […]
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Commission adopts rules for implementing the Foreign Subsidies Regulation
The European Commission has adopted the rules for implementing the Foreign Subsidies Regulation (‘FSR’). The Implementing Regulation details procedural aspects of the implementation of the FSR. It also contains notification forms for concentrations involving foreign financial contributions and for foreign financial contributions in public procurement procedures. The Implementing Regulation The Implementing Regulation adopted takes into account the […]
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European Commission presents two proposals to support the use of cash and on a framework for a digital euro
The European Commission has put forward two proposals to ensure that citizens and businesses can continue to access and pay with euro banknotes and coins across the euro area, and to set out a framework for a possible new digital form of the euro that the European Central Bank may issue in the future, as […]
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Commission proposes to reinforce long-term EU budget
The European Union (EU) has faced a series of unprecedented and unexpected challenges since the adoption of the Multiannual Financial Framework (MFF) in 2020. Barely out of one of the deepest global economic crises in more than a century, Russia’s brutal invasion of Ukraine had huge humanitarian, economic and budgetary consequences. Migration has picked up […]
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The European Commission has presented its proposal for the next generation of own resources
As committed during the negotiations on the long-term EU budget 2021-2027, the European Commission has completed its proposal for a next generation of own resources. This package includes a new temporary statistical own resource based on company profits. Following the political agreement on the Fit For 55 package, which seeks to ensure EU policies contribute […]
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An EU approach to enhance economic security
The European Commission and the High Representative published a Joint Communication on a European Economic Security Strategy. This Joint Communication focuses on minimising risks arising from certain economic flows in the context of increased geopolitical tensions and accelerated technological shifts, while preserving maximum levels of economic openness and dynamism. The proposed strategy sets out a […]
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