The European Securities and Markets Authority (ESMA), together with National Competent Authorities (NCAs), is closely monitoring the situation in view of the continuing impact of the COVID-19 outbreak on financial markets in the European Union (EU). Following a Board of Supervisors discussion examining the market situation and contingency measures taken by supervised entities, ESMA is making the […]
Read MoreThe Government mobilizes a plan of economic measures to mitigate the impact of COVID-19
The Government has adopted a plan of exceptional measures in the economic field to mitigate the impact of COVID-19 that will allow the mobilization of up to 18,225 million euros during this year. These measures are in addition to those adopted by the Council of Ministers on 10 March in the area of health and […]
Read MoreSpanish 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 […]
Read MoreE-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 […]
Read MoreEU 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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