The Council adopted a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries. The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities […]
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Zalando commits to provide clearer information for consumer following EU action
Following a dialogue with the Commission and national consumer authorities, Zalando has committed to removing misleading sustainability flags and icons displayed next to products offered on its platform. Such claims can mislead consumers about the environmental characteristics of the products. As from 15 April 2024, the icons will not appear anymore. Instead, clear information about […]
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Ministers update EU list of non-cooperative tax jurisdictions
The Council removed Bahamas, Belize, Seychelles and Turks and Caicos Islands from the list of non-cooperative jurisdictions for tax purposes. With these updates, the EU list consists of the following 12 jurisdictions: American Samoa Anguilla Antigua and Barbuda Fiji Guam Palau Panama Russia Samoa Trinidad and Tobago US Virgin Islands Vanuatu The Council regrets that […]
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Report from experts on Cohesion Policy proposes ways to maximise the effectiveness and impact of Cohesion Policy in the future
The independent Group of High-Level Specialists on the Future of Cohesion Policy presented its report, which assessed the functioning of Cohesion Policy and included recommendations on how to ensure the Policy continues to promote prosperity and convergence across the EU. These recommendations will add to the ongoing reflections and body of opinions from many stakeholders and […]
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Commission monitors strengths and challenges of EU’s competitiveness
The Commission has published the new Annual Single Market and Competitiveness Report. The report details the competitive strengths and challenges of Europe’s Single Market, tracking yearly developments according to the nine competitiveness drivers identified in the EU’s 2023 Long-term competitiveness Communication. Those are the functioning of the Single Market, access to private capital, public investment and […]
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Winter Economic forecast 2024 for Spain
The Spanish economy is estimated to have expanded by 2.5% in 2023, marginally above what was projected in autumn, with preliminary data for the fourth quarter pointing to an acceleration (0.6% q-o-q) compared to the third quarter. Private consumption and, to a lesser extent, investment were the key drivers of GDP growth throughout 2023. External […]
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Council and European Parliament reach agreement on reform of EU tax rules
The Council and European Parliament negotiators reached a provisional political agreement on the proposed reform of the EU’s economic governance framework. The main objective of the reform is to ensure sound and sustainable public finances, while promoting sustainable and inclusive growth in all member states through reforms and investment. Main elements of the provisional agreement […]
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Ensuring euro money transfers arrive within ten seconds
The new regulation aims to make sure that retail clients and businesses, especially SMEs, will not have to wait for their money, as well as to enhance the safety of transfers. Banks and other payment service providers (PSPs) will have to ensure credit transfers are affordable and immediately processed. The text, already agreed with EU […]
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EU budget: The first review of the EU’s long-term budget will help address Europe’s main challenges
The European Commission welcomes the historic agreement of the European Council to for the first ever revision of the Multiannual Financial Framework’s ceilings. The Council’s agreement confirms all priorities of the Commission’s proposal and covers 80% of the requested financing. This reinforcement will allow the EU to continue delivering on our common priorities, benefiting the […]
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