The European Commission has approved an up to €10 billion Spanish scheme (“National Guarantee Scheme”) to support self-employed and companies across sectors in the context of Russia’s invasion of Ukraine. The scheme was approved under the State aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022, based on Article 107(3)(b) of the Treaty on […]
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Croatia prepares for euro adoption
As of 1 June, the European Commission has concluded that Croatia is ready to adopt the euro on 1 January 2023, bringing the number of euro area Member States to twenty. The conclusion is set out in the 2022 Convergence Report, which assesses the progress that Bulgaria, Czechia, Croatia, Hungary, Poland, Romania and Sweden have […]
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23 May 2022: Macroeconomic dialogue with the social partners
The Council presidency, the European Central Bank and the European Commission met with European social partners on 23 May 2022 to discuss recent developments of the economic situation, as well as the consequences of the war in Ukraine on the European labour market, especially as regards the labour market integration of Ukrainian refugees. While the […]
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EU guidelines on tax policy
In its 2022 European Semester spring package, the European Commission has provided Member States with support and guidance on tax policy. Fiscal policy guidance The activation of the general escape clause of the Stability and Growth Pact in March 2020 allowed Member States to react swiftly and adopt emergency measures to mitigate the economic and […]
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European Semester Spring Package 2022
The European Commission’s 2022 European Semester Spring Package provides Member States with support and guidance two years on from the first impact of the COVID-19 pandemic and in the midst of Russia’s ongoing invasion of Ukraine. The Spring 2022 Economic Forecast projects the EU economy to continue growing in 2022 and 2023. However, while the EU economy […]
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Antitrust: Commission carries out unannounced inspections in the fashion sector
On 17 May the European Commission has started unannounced inspections at the premises of companies active in the fashion industry in several Member States. In parallel, the Commission has sent out formal requests for information to several companies active in the fashion sector. The Commission has concerns that the companies concerned may have violated Article 101 of […]
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Spring economic forecasts: Spain is expected to be the fourth fastest-growing economy in the EU
The outlook for the EU economy before the outbreak of the war was for a prolonged and robust expansion. But Russia’s invasion of Ukraine has posed new challenges, just as the Union had recovered from the economic impacts of the pandemic. By exerting further upward pressures on commodity prices, causing renewed supply disruptions and increasing […]
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Parliament set to back global minimum corporate tax rate
MEPs are expected to back new rules for a global minimum corporate tax rate from 2023 during the plenary session on 18-19 May. On 18 May, Parliament will consider a report by the economic and monetary affairs committee on ensuring a minimum corporate tax rate for large multinational corporations. The directive will apply to companies with […]
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Commission will phase out State aid COVID Temporary Framework
The European Commission will phase out the State aid COVID Temporary Framework, adopted on 19 March 2020 and last amended on 18 November 2021, enabling Member States to remedy a serious disturbance in the economy in the context of the coronavirus pandemic. The State aid COVID Temporary Framework will not be extended beyond the current expiry date, which is 30 […]
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