The European Commission has presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering terrorism financing (AML/CFT) rules. The package also includes the proposal for the creation of a new EU authority to fight money laundering. This package is part of the Commission’s commitment to protect EU citizens and the […]
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Five Things to Know about the Informal Economy
The informal economy is a global and pervasive phenomenon. Some 60 percent of the world’s population participates in the informal sector. Although mostly prevalent in emerging and developing economies, it is also an important part of advanced economies. The informal economy consists of activities that have market value but are not formally registered. The informal […]
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€700 million for businesses affected by the COVID-19 crisis in Spain
The European Investment Bank (EIB) has signed a new agreement with Banco Sabadell under the Pan-European Guarantee Fund (EGF), which is part of the €540 billion package of measures with which the European Union is responding to the economic impact of COVID-19. The EIB will provide Banco Sabadell with a guarantee of up to €300 million to finance […]
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Reducing unemployment: EU policies explained
After uneployment in the EU had steadily increased since 2013, the Covid-19 pandemic led to a rise in 2020. Find out how the EU works to reduce unemployment and fight poverty. Although EU labour market conditions and workers’ rights have significantly improved in recent years, the fight against unemployment and the consequences of the Covid crisis remain […]
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New VAT rules for e-commerce in the EU
New value added tax (VAT) rules for online shopping came into force this week. This development comes in the context of efforts to ensure a more level playing field for all businesses, simplify cross-border e-commerce and introduce greater transparency for EU shoppers in terms of prices and choice. The EU VAT system was last updated […]
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European Commission endorses Spain’s recovery and resilience plan
The European Commission has adopted a positive assessment of Spain’s recovery and resilience plan. This is an important step towards the EU disbursing €69.5 billion in grants under the Recovery and Resilience Facility (RRF) over the period 2021-2026. This financing will support the implementation of the crucial investment and reform measures outlined in Spain’s recovery […]
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22 billion euros in new European Partnerships for social challenges
Today, the Commission launched 11 new European Partnerships together with industry, to boost investments in research and innovation and to overcome major climate and sustainability challenges, towards making Europe the first climate neutral economy and delivering on the European Green Deal. In line with the goals of the ‘twin’ green and digital transition, the Partnerships […]
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Brexit Adjustment Reserve: MEPs want swift disbursement of €5 billion fund
Parliament is now ready to negotiate with Council the details of the fund to help EU countries to counter the adverse consequences of the UK’s withdrawal. Support focused on countries and sectors worst affected by Brexit Eligibility period covers investments made from 1 July 2019 to 31 December 2023 Banking and financial sectors are excluded […]
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Large investors vs Bankia
The Court of Justice of the European Union (CJEU) ruled on 3 June that qualified investors can also hold Bankia (now part of CaixaBank) liable for inaccuracies contained in the brocure for its IPO in 2011, as it did not reflect the bank’s accounting reality. The case pits Bankia against Unión Mutua Asistencial de Seguros […]
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