A major tax swindle involving sales of fuels has been brought to an end by the German authorities, with international judicial support in 11 European countries coordinated by Eurojust. During an action day, two suspects were arrested in Austria and Poland, allegedly the leaders of a criminal network that defrauded the German tax authorities of […]
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EIB and Banca March support spanish companies affected by the COVID-19 crisis
The EIB Group will provide a total of €270 million to Banca March via three agreements, to mobilise over €600 million for Spanish companies. The European Investment Bank (EIB) and Banca March are joining forces once again to support the economic recovery of Spanish small and medium-sized enterprises (SMEs – up to 250 employees), mid-caps (between 250 […]
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Multiannual financial framework for 2021-2027 adopted
Following the European Parliament’s consent, the Council has adopted the regulation laying down the EU’s multiannual financial framework for 2021-2027. The regulation provides for a long-term budget of €1 074.3 billion for the EU27 in 2018 prices, including the integration of the European Development Fund. Together with the Next Generation EU recovery instrument of €750 […]
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Circular economy: definition, importance and benefits
The European Union produces more than 2.5 billion tonnes of waste every year. It is currently updating its legislation on waste management to promote a shift to a more sustainable model known as the circular economy. In March 2020 the European Commission presented, under the European Green Deal and as part of the proposed new industrial strategy, a new circular […]
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European Commission authorises first safe and effective vaccine against COVID-19
The European Commission has granted a conditional marketing authorisation (CMA) for the COVID‑19 vaccine developed by BioNTech and Pfizer, making it the first COVID-19 vaccine authorised in the EU. This authorisation follows a positive scientific recommendation based on a thorough assessment of the safety, effectiveness and quality of the vaccine by the European Medicines Agency […]
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Eurogroup Statement on the Draft Budgetary Plans for 2021
The Eurogroup discussed the overall budgetary situation and prospects in the euro area, and reviewed the economic and fiscal situation of the euro area member states. The outcome of this discussion is reflected in the next Eurogroup statement. The Eurogroup welcomes the Commission’s analysis of the budgetary situation in the euro area as a whole […]
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New EU financial assistance to address the situation on the Canary Islands
The Commission announced new funding of €43.2 million to Spain to address the needs on the Canary Islands arising from high numbers of people arriving irregularly – some 20,000 people this year. The funding will go towards increasing temporary shelter capacity and improving reception conditions, including access to health assistance, food and sanitation. Financial support […]
Read MoreEurogroup reaches agreement on European Stability Mechanism reform
Main results of the video conference of the Eurogroup, 30 November 2020 Inclusive format Reform of the European Stability Mechanism (ESM) The Eurogroup agreed to proceed with the reform of the European Stability Mechanism (ESM): to sign the revised ESM treaty and to launch its ratification. Among other things, the reform establishes a common backstop […]
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European Semester Autumn Package
The European Commission presented its autumn economic policy package, including the Opinions on euro area Draft Budgetary Plans (DBPs) for 2021 and policy recommendations for the euro area. This is the second step in the 2021 European Semester cycle, which started in September with the publication of the Annual Sustainable Growth Strategy (ASGS) with the concept of […]
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