The European Commission decided to refer Spain to the Court of Justice of the European Union for failure to ensure correct implementation of the Merger Directive on the common system of taxation applicable to Member States (Directive 2009/133/EC). The objective of the Merger Directive is to remove fiscal obstacles to cross-border reorganisations involving companies situated in two […]
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EIB and MicroBank to provide €200 million to finance microenterprises and self-employed in Spain
The EIB and MicroBank have signed a €100 million loan that MicroBank will top up with a further €100 million to provide microloans to small businesses and self-employed individuals wanting to launch or expand their businesses. The transaction will boost job creation, especially among young entrepreneurs in need of liquidity to turn their ideas into business […]
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EU expands scope of sanctions against Iran
The Council has decided to broaden the scope of the EU framework for restrictive measures in view of Iran’s military support of Russia’s war of aggression against Ukraine. This framework, adopted in July 2023, currently prohibits the export of components used in the construction and production of Unmanned Aerial Vehicles (UAVs) from the EU to Iran, and […]
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EU allocates €130 million in humanitarian aid for Latin America and the Caribbean in 2024
The European Commission has allocated nearly €130 million this year in humanitarian aid for Latin American and the Caribbean, to address the needs of the most vulnerable people affected by the main ongoing emergencies. This includes over €1 million just approved to respond to the devastating floods in Brazil, which in past weeks have affected […]
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The European Commission approves a €120 million Spanish scheme to support investments in strategic sectors of the Asturias region
The European Commission has approved a €120 million Spanish scheme to support investments in strategic sectors in the Asturias region to foster the transition to a zero net emission economy, in line with the Green Deal Industrial Plan. The scheme was approved under the Temporary Crisis and Transition Framework for state aid, adopted by the […]
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Spring 2024 Economic forecast for Spain
Economic activity in Spain is expected to grow at 2.1% in 2024 and 1.9% in 2025 driven by domestic demand and sustained by continued labour market resilience. The implementation of the Recovery and Resilience Plan (RRP) is set to underpin investment growth over the forecast horizon. Headline inflation is projected to maintain its downward trend […]
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Commission designates Booking as a gatekeeper and opens a market investigation into X
The European Commission has designated under the Digital Markets Act (DMA), Booking as a gatekeeper for its online intermediation service Booking.com and decided not to designate X Ads and TikTok Ads. In parallel, the Commission has opened a market investigation to further assess the rebuttal submitted in relation to the online social networking service X. This decisions follow a […]
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European Court of Auditors: It takes too long to recover misspent EU money
The EU auditors found that, while the European Commission ensures that irregular expenditure is recorded accurately and promptly, getting this money back often takes too long. For jointly managed agricultural funds where member states have primary responsibility, recovery rates are generally low, but with significant differences between EU countries. From 2014-2022, €14 billion of such […]
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EIB and Valencia regional government sign €470 million loan to finance green, social and digital projects under EU fund programmes
The European Investment Bank (EIB) has signed a €470 million loan with the regional government of Valencia to co-finance a series of green, social and digital investments in the Spanish region. Through the EIB loan and co-financing from the Valencia regional government, support will be provided for projects included in the 2021-2027 operational programmes of EU […]
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