On 14 February 2023, EU Member States agreed on the latest update the EU list of non-cooperative jurisdictions for tax purposes. Following the update, Annex I of the EU list is made up of 16 jurisdictions due to their lack of commitment to improve their tax good governance or due to the lack of progress […]
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European Commission signs agreement with ICO to invest €150 million in sustainable infrastructure in Spain
The European Commission and the Instituto de Crédito Oficial (ICO) signed an agreement under the InvestEU guarantee scheme for up to €75 million. The guarantee package will help leverage ICO funding of up to €150 million to invest in sustainable infrastructure in Spain and other Member States. This public investment is expected to mobilise an […]
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European Comission publishes the Winter Economic forecast for Spain
Spain weathered relatively well the negative shocks unleashed by Russia’s war of aggression against Ukraine in 2022. The resilience of the economy was underpinned by the strong rebound in tourism over the summer season and dynamism of private consumption, also supported by positive labour market developments. Compared to the Autumn Forecast, growth for 2022 is […]
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Commission clears creation of a joint venture by Deutsche Telekom, Orange, Telefónica and Vodafone
The European Commission has approved unconditionally, under the EU Merger Regulation, the creation of a joint venture by Deutsche Telekom AG Orange SA, Telefónica S.A. and Vodafone Group plc. The Commission concluded that the transaction would raise no competition concerns in the European Economic Area (‘EEA’). The joint venture will offer a platform to support […]
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European Union publishes winter economic forecast for 2023
Almost one year after Russia launched its war of aggression against Ukraine, the EU economy entered 2023 on a better footing than projected in autumn. The Winter interim Forecast lifts the growth outlook for this year to 0.8% in the EU and 0.9% in the euro area. Both areas are now set to narrowly avoid […]
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The European Central Bank raises interest rates to 3%
The Governing Council will stay the course in raising interest rates significantly at a steady pace and in keeping them at levels that are sufficiently restrictive to ensure a timely return of inflation to its 2% medium-term target. Accordingly, the Governing Council decided to raise the three key ECB interest rates by 50 basis points […]
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The Single Market, the key instrument for meeting current challenges, turns 30 years old
The Commission has published the 2023 Annual Single Market Report and the 2022 Single Market Scoreboard, as part of activities to mark the 30th anniversary of the Single Market. The reports confirm that the Single Market remains a key tool to address Europe’s current challenges and highlight the importance of continuously improving its functioning, as well as […]
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The European Structural and Investment Funds supported more than 4 million SMEs between 2014 and 2020
In 2014-2020, the European Structural and Investment Funds (ESI Funds) unleashed a total investment of €731 billion, of which €535 billion was funded by the EU, fostering lasting socio–economic convergence, territorial cohesion, social Europe and a smooth green and digital transition. This is explained in the 2022 Summary Report on the Implementation of the ESI Funds adopted by the Commission. The […]
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Council adopts a Recommendation on an adequate minimum income
The Council therefore recommends that member states provide and strengthen robust social safety nets by combining adequate income support through minimum income benefits and other accompanying monetary benefits, in-kind benefits, and by giving access to enabling and essential services. This Council recommendation aims to: Combating poverty and social exclusion, Pursueing high levels of employment by […]
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