The European Commission has unlocked €1 billion from the European Fund for Strategic Investments (EFSI) that will serve as a guarantee to the European Investment Fund (EIF), part of the European Investment Bank Group. This will allow the EIF to issue special guarantees to incentivise banks and other lenders to provide liquidity to at least […]
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The European Commission welcomes the cooperation agreement concluded between the European Central Bank, the Eurosystem and Sveriges Riksbank
The European Commission welcomes the cooperation agreement concluded on 3 April 2020 between the European Central Bank (ECB), the Eurosystem and Sveriges Riksbank which will allow settlement of instant payments in Swedish krona in the TARGET Instant Payment Settlement (TIPS). The Commission shares with the ECB the objective of fostering the development by European payments […]
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Government frees up 18.23 billion euros in a raft of economic measures to mitigate impact of COVID-19
The government has adopted a raft of exceptional economic measures to mitigate the impact of COVID-19, which will allow up to 18.23 billion euros to be freed up and disbursed during the year. This plan of measures was agreed at the proposal of the Third Vice-President of the Government and Minister for Economic Affairs and […]
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Spanish courts must ensure that clauses in mortgage loan contracts providing for the application of a variable interest rate are clear and understandable
If the court concludes that such terms are unfair, it may replace it with a statutory rate applicable on a supplementary basis in order to protect the consumers concerned from the particularly harmful consequences which could result from the cancellation of the loan contract. In its judgment in Case C-125/18 Gómez del Moral Guasch, delivered […]
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E-commerce: Council adopts new rules for exchange of VAT payment data
The Council today adopted a set of rules to facilitate detection of tax fraud in cross-border e-commerce transactions. The new measures will enable member states to collect, in a harmonised way, the records made electronically available by payment service providers, such as banks. In addition, a new central electronic system will be set up for […]
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EU mobilises €10 million more to respond to severe Desert Locust outbreak in East Africa
The European Commission has announced today €10 million more to respond to one of the worst Desert Locust outbreak in decades in East Africa. The outbreak could have devastating consequences on food security in an already vulnerable region where 27.5 million people suffer from severe food insecurity and at least 35 million more are at […]
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