This is a chronological list of press releases on the activities of the Committee on Economic and Monetary Affairs.

No contagion and safe taxpayers: Banco Popular resolution was effective, Ms König tells MEPs

ECON  12-07-2017

Resolution of Banco Popular and insolvency procedures for two Venetian banks dominated in a discussion with Elke König, Chairperson of the Single Resolution Board (SRB). (Read more)

International Financial Reporting Standards (IFRS 9): MEPs back 5 year transition  

ECON  11-07-2017

The impact on banks of the new IFSR 9 model which may lead to an increase in expected credit loss and consequential fall in capital ratios should be limited by a 5 year transition. (Read more)

Report unveils sweeping recommendations to stamp out practices exposed by Panama Papers

PANA  10-07-2017

MEPs on the PANA committee have broadly welcomed the findings and recommendations of the Committee’s draft report which range from stronger sanctions to better protection for whistleblowers. (Read more)

Multinationals should disclose tax information in each country they operate

Plenary session  04-07-2017

Large firms must make information about the tax they pay in each country in the world publicly available, say MEPs after a debate and vote in plenary, Tuesday. (Read more)

Covered bonds: limited harmonisation and common definition

Plenary session 04-07-2017

Covered bonds worked well in the EU markets thanks to national rules therefore EU level harmonisation should be limited and focused on enhancing the CBs’ quality. (Read more)

Economic and monetary affairs committee: Fact-finding mission to Greece

ECON  27-06-2017

MEPs concluded today (Tuesday) a two-day fact-finding mission ensuring parliamentary scrutiny of Greece's financial assistance programme. (Read more)

Support for strengthened protection for whistleblowers

ECON JURI 21-06-2017
Whistleblowers should be regarded as a "gift", but existing legal protection for them remains fragmented and partial, two parliamentary committees hear. (Read more)

PANA Bureau calls on Council to be more transparent about tax matters and money laundering

PANA 21-06-2017

The leading members of the PANA committee call on the Council for more transparency on tax issues and to work with the Parliament in the fight against money laundering and tax evasion. (Read more)

Covered bonds: limited harmonisation and common definition 

ECON 20-06-2017

Covered bonds worked well in the EU markets thanks to national rules therefore EU level harmonisation should be limited and focused on enhancing the CBs’ quality. (Read more)

Time to move fast as biggest EU financial centre drifts away, VP Dombrovskis says

ECON 20-06-2017

Brexit dominated a discussion on financial stability, financial services and capital markets union, the day after formal talks started. (Read more)

More future-oriented investments in neediest EU economies

Plenary session 15-06-2017

In their assessment of how EFSI has been applied, MEPs want more geographical balance, support for smaller companies and riskier innovative investments. (Read more)

Multinationals could be required to disclose tax information 

ECON JURI  13-06-2017

Large firms must make information about the tax they pay in each country in the world, publicly available, say the Economics and Legal Affairs committees. (Read more)

Double taxation of companies: better resolution mechanism

ECON  08-06-2017

Firms in the EU are a step closer to having an effective and timely mechanism to resolve disputes resulting in their being taxed twice by different Member States. (Read more)

ECON Chairman: ECB made clear euro area is on solid growth path, but very substantial monetary accommodation still needed 

ECON  08-06-2017

The Chair of Parliament's Economic and Monetary Affairs Committee, Roberto Gualtieri, responds to today's announcement from the European Central Bank: (Read more)

Press conference 8 June, 10 am: "One year into the PANA Committee's mandate: state of play and preliminary findings" 

PANA  07-06-2017

PANA Committee's mandate: state of play and preliminary findings. (Read more)

Reducing VAT on e-books, to match printed book rates

Plenary Session 01-06-2017

EU citizens could pay less for e-books now that Parliament has agreed to allow member states to reduce VAT on them to match printed book rates. (Read more)

Portuguese Minister defends the legality of Madeira’s free trade zone

PANA  31-05-2017

Portuguese Secretary of State for Tax Affairs, Fernando Rocha Andrade, defended the legality of Madeira’s free trade zone and said it functioned within EU rules. (Read more)

MEPs quiz Jean-Claude Juncker on his about-turn in fight against tax avoidance

PANA 31-05-2017

MEPs suggest that the President of the European Commission has undergone a damascene conversion in the fight against tax evasion. (Read more)

Securitisation: agreement struck between MEPs and Maltese Presidency

ECON  30-05-2017

Securitisation will be revived only by strengthening its prudential framework and by developing simpler and transparent structures, says the deal struck on Tuesday. (Read more)

Deal on better access to finance for innovative or socially beneficial companies

ECON  30-05-2017

MEPs and the Maltese Presidency agreed on rules making European venture capital funds (EuVECA) and European social entrepreneurship funds (EuSEF) more attractive for investors. (Read more)

Commission President Juncker to appear before PANA Committee

ECON  29-05-2017

European Commission President Jean-Claude Juncker will participate in a hearing of the Inquiry Committee into the Panama Papers on Tuesday 30 May. (Read more)

Fragile EMU needs convergence and trust, Draghi tells MEPs

ECON  29-05-2017 

MEPs discussed the future of the Economic and Monetary Union (EMU), innovation in the financial sector and ECB’s preparations for Brexit, with its President. (Read more)

EP economics committee concludes mission to Berlin (Germany)

ECON  24-05-2017

MEPs from the Economic and Monetary Affairs Committee on Wednesday concluded three-day visit to Berlin where they met top officials, regulators and industry representatives. (Read more)

Parliament again rejects blacklist of states at risk of money laundering

Plenary Session 17-05-2017

MEPs again reject as inadequate by 392 votes to 80, with 207 abstentions, a narrow list of countries at risk of money laundering.(Read more)

EU needs to accelerate FinTech development

Plenary Session 17-05-2017

MEPs want the EU to accelerate the development of financial services enabled by new technologies (FinTech). Their key priorities are cybersecurity, a level playing field for traditional companies and start-ups, and controlled experimentation with new technologies. (Read more)

Conservative MEPs table debate on European Central Bank

Plenary Session 17-05-2017

The European Central Bank is overreaching its mandate, say members of the European Conservatives and Reformist group, who have organised a debate on the ECB in Parliament.(Read more)

MEPs want future oriented investments in neediest EU economies

BUDG  ECON  15-05-2017

MEPs from Economic and Monetary Affairs and Budgets committees backed an extension of the European Fund for Strategic Investments (EFSI), in their vote on Monday evening. They stressed however that the EU investment plan should focus on riskier future oriented investments, which would not otherwise happen, preferably in economically weaker EU regions, and in a transparent way. (Read more)

Post-Brexit, EU could restrict access of tax jurisdictions to single market, suggests MEP

PANA 09-05-2017

Following Brexit, MEPs could demand restrictions on access to the single market by Gibraltar and the Channel Islands if they fail to reform their tax systems, an MEP has said. (Read more)

Commissioner details new measures against intermediaries who help tax evasion

PANA 04-05-2017  

The European Commission will draw up new proposals to crack down on intermediaries who facilitate tax evasion says Commissioner Pierre Moscovici. (Read more)

Committees again reject blacklist of states at risk of money laundering

ECON LIBE 03-05-2017

The EU should have an autonomous process for judging whether countries are at high-risk of money laundering, say committee MEPs after rejecting for a second time, by 61 votes to 7 with 32 abstentions, a blacklist of countries drawn up by the EU Commission. (Read more)

MEPs vote to lower VAT on e-books, aligning them with printed books

ECON 03-05-2017

EU citizens could pay less for e-books after plans to allow member states to reduce VAT on e-publications were backed in committee on Wednesday. (Read more)



EU needs to accelerate FinTech development

ECON 28-04-2017

Economic and monetary affairs committee MEPs want the EU to accelerate the development of financial services enabled by new technologies (FinTech). Their key priorities are cybersecurity, level playing field for traditional companies and start-ups and controlled experimentation with new technologies. (Read more)

New rules make cash flow investments by start-ups and SMEs safer

Plenary Session 05-04-2017

New rules to make money market funds (MMFs) more resistant to crises and market turbulence were approved on Wednesday. MFFs supply easily accessible liquid assets to business start-ups and small and medium-sized enterprises (SMEs), but can be vulnerable to panic runs on their money. (Read more)

New rules to protect investors and help SMEs access diverse sources of capital

Plenary Session 05-04-2017

Uniform rules on the information given in investor prospectuses were approved by Parliament on Wednesday. They aim to protect investors, create a more efficient single capital market and ease small firms’ access to finance. (Read more)

Reliable, relevant and evidence based statistics for the EU

ECON 27-03-2017

Prompt, relevant, available and evidence based European statistics is essential to monitoring UE policies and programmes and to achieving better results said Economic and Monetary Affairs Committee MEPs in their Monday vote to extend European statistical programme (ESP) 2013-2017 for the period 2018-2020 and to provide financial support to the European statistical system (ESS). (Read more)

MEPs vote to close loopholes for exploiting EU and third country tax differences

ECON 27-03-2017

Economic and Monetary Affairs Committee MEPs have voted to close loopholes which allow some of the world’s largest corporations to avoid paying tax on profits by exploiting differences in the tax systems of EU and third countries. (Read more)

MEPs call on US lawmakers to increase beneficial ownership transparency

PANA 24-03-2017

A delegation of 9 Members of the European Parliament’s Inquiry Committee into money laundering, tax evasion and tax avoidance visited Washington DC and the state of Delaware for a fact-finding mission from 21 to 24 March. (Read more)

Vestager: high-profile, anti-competition battles to continue, with more likely

ECON 22-03-2017

Despite criticisms from Washington and Dublin, and from multinationals subject to her probes into unfair competition, the European Commissioner, Margrethe Vestager, signalled during a meeting with the Economics Committee, that she will pursue some of her most high-profile and controversial cases, including those against Google and Apple, with more investigations likely. (Read more)

Eurogroup Head pressed to apologise after “insulting” “machismo” remarks

ECON 21-03-2017

MEPs on the Economics Committee demand an apology from president of the Eurogroup, Jeroen Dijsselbloem, for comments made to a newspaper, thought to be an reference to southern Europe, which were described as “insulting” and “machismo”. The demand came during the semi-annual economic dialogue between the Eurogroup president and the Economics committee when members also quizzed him about his continued appointment as head of the Eurogroup and about the possibility of a European monetary fund. (Read more)

MEPs blast anti-tax evasion body for lacking transparency and ineffectiveness

Plenary Session 15-03-2017

MEPs across the political spectrum launch fierce attacks on the European Council’s “Code of Conduct Group on Business Taxation” set up almost two decades ago to combat corporate tax evasion, with one MEP describing it as “Europe at its worst.” (Read more)

MEPs to debate progress on corporate tax avoidance crackdown

PANA 13-03-2017

Progress on Parliament’s call for a crackdown on corporate tax avoidance will be debated with the Council and Commission on Tuesday evening. MEPs will quiz them on proposals such as country-by-country reporting of profit, tax and subsidies, improving the transparency of the Council Code of Conduct Working Group on Business Taxation, and stronger protection for whistle blowers. (Read more)

Panama Committee visit Luxembourg on fact-finding mission, 2-3 March 2017

PANA 01-03-2017

A delegation of the European Parliament’s Panama (PANA) Committee, chaired by Dr. Werner Langen (EPP, DE) will visit Luxembourg 2-3 March to hold meetings with authorities, journalists, bankers, accountants and other intermediaries. (Read more)

UK could apply for “equivalence” for its firms, says Commissioner Dombrovskis

ECON 28-02-2017

If UK-based financial firms loose passporting rights following Brexit, then the UK could apply for “equivalence “ status to ease cross-border trade, vice-president of the EU Commission, Valdis Dombrovskis, tells MEPs at a meeting of the Economics committee during which MEPs raised concerns about potential external shocks to the European economy. (Read more)

Citizens should get access to data on firm owners to fight money laundering

ECON LIBE 28-02-2017

EU citizens could access registers of beneficial owners of companies without having to demonstrate a “legitimate interest,” and trusts would have to meet the same transparency requirements as firms, under amendments, agreed by MEPs on Tuesday, to the EU Anti-Money Laundering Directive. (Read more)

PANA MEPs call for increased transparency in Malta’s taxation system

PANA 22-02-2017

A delegation of the European Parliament’s Panama (PANA) Committee ended its fact-finding mission on Malta, which holds the EU Council Presidency during the first half of 2017, on Monday, 20 February, following more than 11 hours of meetings during which MEPs looked into the issues of money laundering, tax avoidance and tax evasion. (Read more)

Panama Committee visit Malta on fact-finding mission, 20 Feb 2017

PANA 15-02-2017

A delegation of the European Parliament’s Panama (PANA) Committee will visit Malta on 20 February to hold meetings with authorities, regulators, journalists, as well as intermediaries involved in the Panama Papers. (Read more)

Parliament’s economic, social and single market priorities for 2017

Plenary Session 15-02-2017

The Parliament agrees with a strategy of private and public investment, balanced structural reforms and responsible public finances laid out in the European Commission’s Annual Growth Survey (AGS) for 2017, MEPs confirmed in their vote on Wednesday. They also urged member states to act on country-specific recommendations, so as to deliver on growth and jobs and to further exploit the economic potential of the single market. (Read more)

MEPs challenge bank over continued ties with tax havens

PANA 09-02-2017

MEPs have challenged representatives of the Nordic region’s largest bank, Nordea, about its continued role in the creation of offshore companies often used for tax evasion and money laundering, during a session of the Parliament’s special inquiry committee looking into the role of German and Nordic banks in the Panama Papers (Read more)

Panama Committee visit UK on fact-finding mission, 9-10 Feb 2017

PANA 09-02-2017

A delegation of the European Parliament’s Panama (PANA) Committee will visit London from 9-10 February to hold meetings with regulators, supervisors, NGOs, academia, as well as intermediaries involved in the Panama papers such as financial institutions, law firms, and accountants. (Read more)

Moderate but firm recovery cannot be put at risk, Mario Draghi tells MEPs

ECON 06-02-2017

The asset-buying program by the European Central Bank remains in place, as we cannot put our recovery at risk, the Bank’s President Mario Draghi told MEPs during the first monetary dialogue in 2017 in the Economic and Monetary Affairs Committee, on Monday. MEPs also discussed inflation targets, threats stemming from protectionism and plans for a financial sector deregulation in the US. (Read more)

No ECON Resolution on Brexit ECON 03-02-2017 Speaking on recent reports from Politico, suggesting that the Committee on Economic and Monetary Affairs (ECON) has “published” a “motion for resolution” on Brexit, Roberto Gualtieri, the ECON Chair, said categorically: (Read more)

European Parliamentary Week: MPs and MEPs to debate EU’s economic future

BUDG ECON EMPL 27-01-2017

National MPs from across Europe will join MEPs in Brussels next week to debate the European Semester Cycle 2017 (Monday), Stability, Economic Coordination and Governance in the European Union (Tuesday) and national growth and jobs creation and financial assistance programmes (Wednesday). The events are part of the 2017 edition of the European Parliamentary Week (#EPW17). (Read more)

ECOFIN’s President rejects MEPs criticism of Malta as tax haven

ECON 25-01-2017

MEPs from the Parliament’s Economics Committee have questioned Malta’s commitment to fighting tax avoidance and money laundering as it takes the helm of the European Union during a critical year in the bloc’s ongoing fight against tax avoidance. (Read more)

Wealth managers provide “law avoidance” to the rich, PANA MEPs hear

PANA 24-01-2017

Large-scale tax avoidance and evasion would be impossible without the help of “enablers” such as lawyers, accountants, bankers and other “wealth managers,” MEPs are told during a hearing of PANA Committee organised to investigate the role of intermediaries in the Panama Papers. (Read more)

PANA chairman Werner Langen not amused about lack of co-operation Council

PANA 24-01-2017

Chairman of Parliament’s Inquiry Committee into Money Laundering, Tax Avoidance and Tax Evasion, Dr Werner Langen, expresses his dismay over a lack of cooperation from the side of the Council Presidency. (Read more)

 

ECON Chair welcomes the ECB governing council decision to extend QE and to further ease monetary conditions

ECON 08-12-2016

The Chair of Parliament's Economic and Monetary Affairs Committee, Roberto Gualtieri, responds to today's announcement from the European Central Bank: (Read more)

 

Committees reject Commission’s blacklist of states at risk of money laundering

ECON 08-12-2016

Members of two Parliamentary committees have rejected a blacklist of countries with possible links to money laundering and financing of terrorism, which has been drawn up by the Commission because they believe it is too restrictive. (Read more)

Securitisation: diversifying funding and releasing bank lending to real economy

ECON 08-12-2016

Securitisation should help to diversify funding sources and free up bank lending to the real economy But it needs to be made more reliable by aligning the interests of all market players and developing simpler and transparent structures that enable investors to understand the risks, said ECON MEPs, in a resolution voted on Thursday. In a separate vote MEPs recommended a differentiated level of capital that should be kept aside by banks or other major investors in STS securitisation. (Read more)

New prospectuses for SMEs: EP, Council and Commission deal

ECON 08-12-2016

Prospectuses published when securities are offered to investors or admitted to trading should be simplified and made cheaper so as to help the businesses and especially SMEs to find diverse sources of capital across the EU, says a deal struck by Parliament’s negotiators on Wednesday night. The uniform rules for prospectuses and the information they disclose should protect investors while creating an efficient single market for capital, where they can put their money to work. (Read more)

EU list of tax havens likely by end 2017, says EU Commissioner, Pierre Moscovici

ECON 07-12-2016

The European Union is likely to have a blacklist of tax havens by the end of 2017 and “it is likely to be more ambitious than that of the OECD,” says the EU Commissioner Pierre Moscovici. He was speaking during exchanges with members of the Panama Committee Wednesday, when Mr Moscovic pointed to the forthcoming list as one example of the significant progress made by Europe in the fight against tax evasion and anti-money laundering. (Read more)

Parliament demands better protection for small investors

Plenary Session 01-12-2016

Small investors need better information about the possible risks and fees for investment products they might buy, say MEPs. They voted on Thursday, by 561 votes to 9 with 75 abstentions, to delay the introduction of a key explanatory document supplied by investment providers to consumers, while the EU Commission comes up with better proposals. (Read more)

Continue with economic and monetary union, says ECB Head, Mario Draghi

Others 28-11-2016

In the face of the Brexit referendum and the increasing security threat, policymakers should nevertheless continue pursuing closer economic and monetary union, says the President of the European Central Bank on Monday during exchanges with members of the Economic and Monetary Committee. (Read more)

Vote on “reverse-charging” VAT to help combat fraud

Plenary Session 24-11-2016

Parliament has supported by 459 votes to 87 votes with 74 abstentions, a resolution asking the EU Commission to assess the benefits of a “reverse—charging” value added tax system, in which the customer is charged rather than the supplier, to replace current EU arrangements for collecting VAT. (Read more)

Workplace pensions: MEPs back clearer rules for schemes to move across borders

Plenary Session 24-11-2016

Providers of workplace pension schemes wanting to move their operations across national borders will now have to get the approval of a majority of their members, as well as the backing of regulators in both the host and recipient country, under new rules approved by MEPs on Thursday. (Read more)

Basel III revision: EU banking model must not be penalised, say MEPs

Plenary Session 23-11-2016

The current revision of Basel III rules cannot result in a significant increase in capital requirements and should promote fair and competitive conditions, said MEPs in their vote on the finalisation of Basel III on Wednesday. (Read more)

ECB report: Monetary policy not enough, structural reforms needed

Plenary Session 22-11-2016

Monetary policy alone is not enough and the EU needs balanced structural reforms, solid national budgets and responsible fiscal policies in member states, said MEPs in a resolution on the European Central Bank (ECB) activity report for 2015 approved on Tuesday. They also cited low interest rates, low growth and weak demand as priority issues that should be tackled. (Read more)

Tax evasion: MEPs back automatic exchange of bank data to track account owners

Plenary Session 22-11-2016

In the wake of several tax evasion scandals, including the “Panama Papers” revelations, Parliament has given its opinion and backed a proposal by 590 votes to 32, with 64 abstentions, for tax authorities across Europe to automatically share information about bank account holders. (Read more)

ECON Chair welcomes Commission announcement that no suspension of funds to Spain and Portugal will be proposed

Others 16-11-2016

Today, the Commission announced that it would not make a proposal to suspend parts of the European Structural and Investment Funds to Spain and Portugal. Indeed, its assessment was that both countries had taken effective actions following Council recommendations adopted this summer. This concludes the structured dialogue between the Commission and the Parliament on this issue. (Read more)

Zero tolerance needed against tax secrecy, says former Panamanian advisor Joseph Stiglitz

PANA 16-11-2016

There needs to be a “comprehensive global approach” against secret tax structures, says the Nobel Prize-winning economist, Joseph Stiglitz, who called for “zero tolerance”. Speaking to Parliament’s Panama Committee on Wednesday, the former advisor to the Panamanian government suggested that secrecy in tax affairs should be treated like a disease which needs to be isolated. (Read more)

Money Market Funds: breakthrough agreement between MEPs and Slovak Presidency

ECON 16-11-2016

An agreement on the EU money market funds regulation has been struck by the European Parliament, Council and Commission, after lengthy negotiations, more than three years after the Commission published the original proposal. (Read more)

Beneficial company owners register vital to combat money laundering, experts say

PANA 14-11-2016

The EU needs a European register of beneficial owners of companies, consistent definition - and handling - of suspicious transactions and enforced transnational cooperation like the US Financial Investigation Unit, experts on anti-money laundering enforcement in Belgium and Germany told Parliament’s Panama Papers Inquiry Committee on Monday. (Read more)

ECON MEPs vote to allow Member States to share tax information

ECON 10-11-2016

MEPs on the Economic and Monetary Affairs Committee have backed a proposal to allow tax authorities across Europe to automatically share information collected on money laundering, saying the links between money laundering, the funding of terrorism, organised crime and tax evasion and avoidance highlight the need for cooperation and coordination between countries. (Read more)

Basel III revision: MEPs want to ensure the EU banking model is not penalised

ECON 10-11-2016

The current revision of Basel III rules cannot result with increasing significantly capital requirements and it should promote the global level playing, said the economic and Monetary Committee MEPs in their vote on the finalization of Basel III, on Thursday. (Read more)

Irish Finance Minister Noonan quizzed by MEPs on tax rulings and Brexit

ECON 09-11-2016

MEPs from Economic and Monetary Affairs Committee discussed lessons from the Irish economic recovery, tax rulings in Ireland and possible implications of Brexit with Michael Noonan, Irish finance minister on Tuesday afternoon. (Read more)

MEPs set out their stance on EU economic priorities for 2017

Plenary 26-10-2016

Parliament backs the EU Commission case for investing in innovation, growth and job creation, pursuing socially-balanced structural reforms, and encouraging responsible public finances, in a resolution on EU economic priorities for 2017, voted on Wednesday. (Read more)

Statement by Roberto Gualtieri, following today’s corporate tax proposal

ECON 25-10-2016

The Commission has today announced plans to introduce a common consolidated corporate tax base (CCCTB) as part of a broader package of corporate tax reforms. In reaction, the chairman of Parliament’s Economic and Monetary Affairs Committee Roberto Gualtieri (S&D, IT) made the following statement: (Read more)

Economics and Monetary Affairs Committee backs continued funding for financial advisory group

Others 11-10-2016

Parliament’s Economics and Monetary Committee has agreed to continue funding for an additional four years, the European Financial Reporting Advisory Group (EFRAG) which has been instrumental in the development of European-wide international accounting standards. (Read more)

Economics and Monetary Affairs Committee worries about impact of low interest rates

ECON 11-10-2016

Parliament’s Economics and Monetary Affairs Committee (ECON) says it’s concerned about the impact of a prolonged period of negative interest rates on the financial stability and health of the European economy and in reaction to the ECB’s Annual Report for 2015, it also expressed concern about the effect of the ECB’s Asset Purchasing Programme (APP). (Read more)

MEPs discussed economic outlook and challenges at the IMF Annual Meetings in Washington DC

ECON 10-2016

A delegation of members of the European Parliament's Committee on Economic and Monetary Affairs (ECON) attended the Annual Meetings of the International Monetary Fund (IMF) and World Bank in Washington D.C. from 6 - 9 October. (Read more)

Chairman Werner Langen: Panama Papers inquiry committee will also look into Bahama Leaks

PANA 27-09-2016

Chair Werner Langen kicked off Tuesday’s hearing with the investigative journalists behind the Panama Papers revelations by announcing that the inquiry committee will also look into the recent Bahama Leaks affair and the case of former Commissioner Neelie Kroes, who failed to declare a directorship in an offshore firm while she held the competition portfolio. (Read more)

Euro area economy showed resilience after UK referendum, Mario Draghi tells MEPs

ECON 26-09-2016

The recovery in the euro area is expected to continue at a moderate and steady pace, but slower than envisaged in June due to a lower foreign demand outlook, European Central Bank President Mario Draghi told Economic and Monetary Affairs Committee members on Monday. On the positive side, he said that the euro area economy showed resilience to global and political uncertainty, notably following the UK referendum outcome. (Read more)

Call for swift decision on future location of EBA during Economics Committee

ECON 26-09-2016

The possible future location of the London based European Banking Authority post-Brexit was discussed at a hearing of the European Parliament’s Economic and Monetary Affairs committee attended by the three heads of the European Supervisory Authorities. During the hearing MEPs also raised questions about the quality of bank stress tests and the prospects for legislation on packaged retail and insurance-based investment products (PRIIPs). (Read more)

Panama Papers inquiry committee kicks off with hearing with investigative journalists

PANA 23-09-2016

The European Parliaments inquiry committee into the Panama Papers scandal will kick off its work on Tuesday 27 September at 09:00 with a public hearing with the journalists who revealed the scandals, followed by a press conference in which the committee’s work programme will be presented. (Read more)

Panama Committee chair Langen welcomes scoreboard of non-cooperative tax jurisdictions

PANA 16-09-2016

Following yesterday’s Commission presentation of a score board methodology for drawing up a common EU list of non-cooperative tax jurisdictions, the chairman of Parliament’s inquiry committee into the Panama Papers scandal, Werner Langen (EPP, DE) made the following statement: (Read more)

Simpler and cheaper prospectuses to open SMEs’ access to finance

Plenary Session 15-09-2016

Prospectuses published when securities are offered to investors or admitted to trading should be simplified and cheaper to help the businesses and especially SMEs to find diverse sources of capital across the EU. The uniform rules for prospectuses and the information they disclose should protect investors while creating an efficient single market for capital, said MEPs while voting on the common stance prior to the negotiations with the Council, on Thursday. (Read more)

Packaged retail investment products: Parliament returns draft law to Commission

Plenary Session 14-09-2016

Draft legislation designed to protect retail investors was rejected by MEPs on Wednesday as so “flawed and misleading” that it could actually lose them money. Unusually, it will be returned to the EU Commission for revision. (Read more)

ECON committee unanimously rejects Commission’s investor protection proposals

ECON 01-09-2016

Parliament’s Economic and Monetary Committee rejected as “misleading” and flawed, proposals aimed at providing greater protection to consumers buying packaged financial products, and unanimously voted to send the proposals back to the European Commission for revision. (Read more)

Chinese economic slowdown poses risks while RMB’s importance grows, MEPs hear

ECON 31-08-2016

China is dealing with an extremely “perilous” situation because of slowing growth, but “we shouldn’t expect it to collapse,” members of Parliament’s Economic and Monetary Affairs Committee were told at a public hearing when experts discussed the phenomenal growth of the world’s largest economy, its recent slowdown and the implications for Europe. (Read more)

Lawmakers urge further EU-US cooperation on financial regulation

ECON 20-07-2016

The chair of the European Parliament Committee on Economic and Monetary Affairs (ECON) called for further EU-US cooperation in financial regulation, tax, banking and the fight against money laundering, following a series of high-level meetings in Washington DC between EU parliamentarians and the US administration, regulators and other financial services stakeholders. The meetings also addressed consequences of the ‘Brexit’ referendum and the stability of the European banking system. (Read more)

Slovak Presidency priorities discussed in committee

AFET AGRI CULT DEVE ECON ENVI IMCO INTA ITRE JURI PECH REGI TRAN - Institutions − 01-09-2016

The priorities of the Slovak Presidency of the EU Council of Ministers are being outlined to parliamentary committees by Slovak ministers at a series of meetings taking place in July, August and September. (Read more)

Economic and Monetary Affairs Committee signs off on deal providing clear rules for cross-border transfer of occupational pension schemes

ECON 13-07-2016

Parliament’s Economic and Monetary Affairs Committee gave its approval on Wednesday to a revised text, agreed with member states and Commission which lays out new rules for pension funds engaged in cross-border activities and sets out guidelines for the transfer of pension schemes across national borders. (Read more)

MEPs and Euro group ministers debate path to a Euro zone budget

BUDG ECON 11-07-2016

Members of Parliament’s Budgets and Economic and Monetary Affairs committees debated the need for a euro area budget with finance ministers Jeroen Dijsselbloem (Netherlands, also Euro Group President), Michel Sapin (France), Pier Carlo Padoan (Italy), Pierre Gramegna (Luxembourg), Peter Kažimír (Slovakia), Edward Scicluna (Malta) and Euclid Tsakalotos (Greece) on Monday evening. (Read more)

 

Werner Langen elected Panama Papers Inquiry Committee chair

PANA 12-07-2016

At its constitutive meeting in Brussels on Tuesday, Parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion (PANA) elected Werner Langen (EPP, DE) as its chair, by acclamation. (Read more)

MEPs call for tax haven blacklist, patent box rules, CCCTB and more

Plenary Session 06-07-2016

Parliament’s recommendations for making corporate taxation fairer and clearer were voted on Wednesday. MEPs call for an EU register of beneficial owners of companies, a tax havens blacklist, sanctions against non-cooperative tax jurisdictions, action against abuse of “patent box” regimes, a code of conduct for banks and tax advisors, tax good governance rules in EU trade agreements, a common consolidated corporate tax base (CCCTB) and a withholding tax on profits leaving the EU. (Read more)

Deal on clear rules for cross-border transfer of occupational pension schemes

ECON 23-06-2016

New rules for pension funds engaged in cross-border activities and guidelines for the transfer of pension schemes across national borders, have been agreed by negotiators from the European Parliament, Council and Commission. Negotiators who overhauled the Directive on "Institutions for Occupational Retirement Provision" (IORPs) say it will promote the internal market in occupational retirement provision and remove obstacles to cross-border activity. (Read more)

ECON Committee is satisfied that Vice-President Dombrovskis is in a position to assume the Financial Stability, Financial Services and Capital Markets Union

ECON 07-07-2016

Following a hearing at the Committee on Economic and Monetary Affairs (ECON Committee), a large majority of ECON Coordinators were satisfied that Vice-President Dombrovskis is in a position to assume the portfolio that is transferred to him and look forward to a strong leadership in a key file for the stability of the EU and the prosperity of EU citizens. (Read more)

Ending EU citizens' bank secrecy in Monaco

Plenary Session 23-06-2016

An EU deal with Monaco, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament in a vote on Thursday. Under the deal, the EU and Monaco will automatically exchange information on the bank accounts of each other's residents, starting in 2018 for information collected since 1 January 2017. (Read more)

Parliament names “Panama Papers” inquiry committee members

Plenary Session 23-06-2016

The European Parliament named the 65 members of its “Panama Papers” Committee of Inquiry, into tax evasion and money laundering, on Thursday, after approving its remit on 8 June. The committee’s shorthand label will be “PANA”. (Read more)

MEPs call on Commission to further ease access to SME loans

ECON 21-06-2016

The EU Commission should consider raising the threshold of the "Supporting Factor", a key measure aimed at easing bank lending to small and medium-sized companies, say the members of the Economic and Monetary Affairs Committee who on Tuesday backed a report on access to finance for SMEs by 46 votes for, 8 votes against, with 2 abstentions. (Read more)

Corporate taxation: MEPs call for tax haven black list, patent box rules, CCCTB and more

TAX2 21-06-2016

Recommendations to make corporate taxation fairer and clearer were voted by the Special Committee on Tax Rulings II on Tuesday evening. They call for an EU public register of beneficial owners of companies, a tax havens blacklist, sanctions against non-cooperative tax jurisdictions, action against abuse of “patent box” regimes, a code of conduct for banks and tax advisors, tax good governance rules in all EU trade agreements and a withholding tax on profits leaving the EU. (Read more)

Dijsselbloem concerned about flexible application of Stability and Growth Pact rules

ECON 14-06-2016

Dutch finance minister and ECOFIN Chair Jeroen Dijsselbloem worries that the way in which the EU Commission applies Stability and Growth Pact rules may not be entirely objective, he told Economic and Monetary Affairs Committee MEPs on Tuesday. At a meeting reviewing the Dutch Presidency of the Council of Economy and Finance Ministers, he said he hoped that on Friday 17 June they would agree a road map for completing the Banking Union with a European Deposit Guarantee Scheme (EDIS). (Read more)

Parliament gives firms a further year to implement financial legislation

ECON 07-06-2016

Firms have been given until 3 January 2018 to implement laws overhauling the EU's existing regulation of financial markets after Parliament gave its backing to a one year deferral which was triggered by the European Commission and the European Securities and Markets Authority's (ESMA) delay in coming up with the necessary technical standards. (Read more)

Parliament's political leadership agrees on mandate inquiry committee Panama Papers

Others 02-06-2016

The European Parliament Conference of Presidents, uniting the EP president and political group leaders, agreed on Thursday 2 June on a mandate for an inquiry committee to look into the so-called Panama Papers, which revealed detailed information on off-shore companies and their ultimate beneficiaries. (Read more)

Roberto Gualtieri: Greece deal important step for returning to growth, jobs and stability

ECON 25-05-2016

“The deal on Greece is an important step towards Greece returning to growth, jobs and stability” - said Roberto Gualtieri, Chairman of Parliament's Economic and Monetary Affairs Committee. (Read more)

Anti-tax avoidance: close tax gap with low-tax third countries, say MEPs

ECON 24-05-2016

The European Commission's proposal for an EU anti-tax avoidance directive was welcomed by Parliament's Economic and Monetary Affairs Committee in a resolution voted on Tuesday. MEPs nonetheless advocated stricter limits on deductions for interest payments and an effective corporate tax rate of 15%. (Read more)

Parliament's Economic and Monetary Affairs Committee Chair, Roberto Gualtieri, on Greece: Review must be concluded swiftly

ECON 27-04-2016

Following the extraordinary meeting of the Financial Assistance Working Group convened today with the participation of Commissioner Pierre Moscovici, Roberto Gualtieri, Chair of the Economic and Monetary affairs committee of the European Parliament made the following statement: (Read more)

Statement of TAXE II chairman Lamassoure in support of Antoine Deltour

TAX2 26-04-2016

The trial against Antoine Deltour, the whistle-blower who revealed the secret tax rulings between the Luxembourg authorities and multinational firms has started today. Alain Lamassoure - chairman of the European Parliament's special Committee on Tax rulings (and similar measures in nature or effect) -, gave the following statement: (Read more)

Corporate tax: economic affairs MEPs welcome information sharing by authorities

ECON 26-04-2016

The European Commission's proposal for automatic exchange of corporate tax information among national tax authorities was welcomed by Economic and Monetary Affairs Committee MEPs on Tuesday as a positive step in the fight against aggressive corporate tax planning. But MEPs also advocated adding further safeguards in the text to ensure that competition in the single market is not distorted by advantageous national tax deals with multinationals. (Read more)

Set up taskforce to oversee virtual currencies, ECON MEPs say

ECON 26-04-2016

The creation of a taskforce which would regulate virtual currencies, like Bitcoins, to prevent their use for money laundering and terrorist financing, was supported by Parliament's Economic and Monetary Affairs Committee on Tuesday by 54 votes to 1, with 2 abstentions. (Read more)

National competition authorities need boost to their powers, MEPs hear

ECON 19-04-2016

National competition authorities throughout Europe should have leniency programmes as part of their powers to encourage firms to come clean about competition infringements, according to the results of a survey organized by the European Commission and made public by the EC Competition Commissioner, Margrethe Vestager at a public hearing held by the European Parliament's ECON committee and the EC on Tuesday (Read more)

European cooperation needed to tackle tax avoidance, agree MEPs and national parliamentarians.

TAX2 19-04-2016

The impact of aggressive tax planning on small and medium-sized enterprises, the need for a common European approach against aggressive tax planning and proposals to act against tax havens were discussed by MEPs with their national counterparts on Monday. The talks in TAXE 2 committee came against the backgdrop of recent public furore over the Panama papers. (Read more)

ECON Chair Roberto Gualtieri statement on Greece, following meeting with PM Tsipras: the review of the assistance programme must be completed quickly

ECON 14-04-2016

Following the bilateral meeting between ECON Chair Roberto Gualtieri and Greek Prime Minister Alexis Tsipras today in Strasbourg, Mr Gualtieri made the following statement: (Read more)

MEPs call for crackdown on tax fraud in “Panama Papers” debate

Plenary Session 13-04-2016

MEPs urged the EU Commission and member states to step up their efforts to fight tax evasion and money laundering in a Tuesday afternoon debate prompted by the “Panama Papers” revelations about more than 200,000 offshore companies and their secret owners. (Read more)

EP inquiry committee into Panama Papers

Others 14-04-2016

The European Parliament Conference of Presidents, uniting the EP president and political group leaders, unanimously backed today the setting up of an inquiry committee* to investigate the so-called Panama Papers, which revealed detailed information on off-shore companies and their ultimate beneficiaries. (Read more)  

 

Key MEPs react to Commission proposal country-by-country reports multinationals

ECON 12-04-2016

Reactions by chairman of Parliament's Economic and Monetary Affairs Committee Roberto Gualtieri (S&D, IT) and ECON rapporteur for country-by-country reporting Dariusz Rosati (EPP, PL) to today's proposal by Commissioner for Financial Stability, Financial Services and Capital Markets Jonathan Hill on mandatory country-by-country reporting for multinational firms: (Read more)

Parliament votes to extend minimum 15% VAT rate in Europe

ECON 12-04-2016

Parliament voted on Tuesday to extend for three more years the 15% minimum VAT rate within the EU while it awaits the publication of a plan for a Europe-wide VAT regime, scheduled to be released this year. (Read more)

Parliament's Special Committee on Tax Rulings II visits Cyprus on Friday

TAX2 12-04-2016

A Delegation of Members of the European Parliament's Special Committee on Corporate Taxation II - or TAXE 2 - will visit Cyprus on 15 April to look into the Cypriot corporate tax practice. MEPs will meet with Foreign Affairs Minister Ioannis Kasoulides, representatives of the Ministry of Finance, of banks, of trade unions, academics, NGO's and other interest groups. (Read more)

Commissioners to MEPs: "Successful review Greek Programme within target"

ECON 12-04-2016

Commission Vice-president for the Euro Valdis Dombrovskis and Commissioner for Economic and Financial Affairs Pierre Moscovici debated the latest state of play of the negotiations on the Greek assistance programme with Members of Parliament's recently set-up Financial Assistance Working Group (FAWG) on Monday evening in Strasbourg. A delegation of the FAWG visited Athens last week for a fact finding mission. (Read more)

TAXE2 chairman Lamassoure on "Panama papers" tax scandal

TAX2 07-04-2016

"In 2014 Luxleaks opened a momentum to engage in a crucial fight against corporate tax evasion and aggressive tax planning in Europe. Under the pressure of the European parliament, outstanding progress has been made with the end of bank secrecy, the compulsory and automatic exchange of information and soon a public country by country reporting." (Read more)

"ECB will do all it can to pursue price stability", Vice President Constâncio tells MEPs

ECON 07-04-2016

"The ECB is committed to a three-point action plan aimed at closing the negative output gap that is putting negative pressure on inflation", Vice President of the European Central Bank, Vítor Constâncio told members of Parliament's Economic and Monetary Affairs Committee on Thursday. (Read more)

ECON Committee gives firms another year to implement financial legislation

ECON 07-04-2016

The Economic and Monetary Affairs Committee on Thursday supported by 38 votes to 2, with 6 abstentions a one year delay -- to 3 January 2018 -- in the application of laws which will overhaul the EU's existing regulation of financial markets. (Read more)

"More focus on financing companies within multinational groups", Ms Vestager tells TAXE II MEPs

TAX2 04-04-2016

Bulgaria, Greece, Croatia, Latvia and Slovenia don't use tax rulings in their dealing with multinational companies, all the other member states do. In some countries it is just about a handful of rulings, other countries issue thousands of them, Commissioner for Competition Margrethe Vestager told members of Parliament's Special Committee on Tax rulings II in a hearing on Monday in which she also commented on the 'Panama Papers' scandal. (Read more)

MEPs conclude fact-finding mission into financial assistance programme Greece

ECON 31-03-2016

Members of the European Parliament concluded a two-day fact-finding mission into Greece's financial assistance programme today (Thursday). The mission to Athens took place in the framework of the Financial Assistance Working Group (FAWG), established this year, to better ensure parliamentary scrutiny of the programme in Greece and other countries. (Read more)

Statement Roberto Gualtieri after meeting PM Tsipras on macroeconomic situation Greece

ECON 30-03-2016

MEP Roberto Gualtieri (S&D, IT), Chair of the EP's Financial Assistance Working Group, met with Prime Minister Tsipras today in Athens to discuss the macroeconomic situation of Greece. The exchange of view is part of a wider EP fact-finding mission centred on the financial assistance programme in Greece. (Read more)

EP Members in Athens to discuss Greece's financial assistance programme

Others 30-03-2016

A delegation of twelve members of the European Parliament visits Athens today (30 March) and tomorrow for a fact-finding mission into Greece's financial assistance programme. EP members will meet with Prime Minister Alexis Tsipras, ministers involved in the financial assistance programme, representatives of monetary and economic institutions and NGOs. (Read more)

Google, Apple, IKEA and McDonalds probed by Tax Rulings II Committee

TAX2 16-03-2016

Google, Apple, Inter-IKEA Group and McDonald's would welcome more clarity and certainty about their tax liabilities in the EU, but they are concerned about the administrative compliance costs and reluctant to see tax data being made public. So said their representatives at a public hearing, held by Parliament's Special Committee on Tax Rulings II on Tuesday, to elicit their views on recent and upcoming proposed legislation on corporate tax. (Read more)

Liechtenstein, Monaco, Andorra, Jersey and Guernsey quizzed in TAXE II

TAX2 15-03-2016

Representatives from Liechtenstein, Monaco, Andorra, Jersey and Guernsey were quizzed by Parliament's Special Committee on Tax Rulings II on Monday and Tuesday. MEPs criticised the jurisdictions for their low level — sometimes 'zero rate' — of corporate taxes and probed their representatives on the non-disclosure of company ownership in their jurisdictions. (Read more)

 

“The European Central Bank did the right thing,” says ECON chair

Others 10-03-2016

Speaking after today’s meeting of the ECB Governing Council, Roberto Gualtieri (S&D, IT), Chair of the Committee on Economic and Monetary Affairs of the European Parliament said “with its firm policy stance today the ECB responds to the evidence that the economic recovery is at risk." (Read more)

Completion of Banking Union on track, but important work still ahead, say MEPs. The ECB Supervisory Board must strike the right balance between financial stability and the ability of banks to fund the real economy. Plenary Session 10-03-2016

The European Commission and the European Supervisory Authorities should conduct an in-depth assessment of the effect of increasing capital requirements in current and future legislation on credit supply, especially to small and medium sized companies, Parliament says in a resolution on the state of the Banking Union which was adopted on Thursday. (Read more)

Greek Finance Minister Euclid Tsakalotos welcomes EP role in monitoring reforms

ECON 02-03-2016

Greek Finance Minister Euclid Tsakalotos welcomes the European Parliament’s stronger involvement in monitoring the financial assistance programme for Greece, he told Economic and Monetary Affairs Committee MEPs in an economic dialogue meeting on Wednesday. "We need an honest broker, representing different views from different political perspectives, to examine the economic and social impact of the programme", he said, referring to the new EP working group on macro-economic adjustment programmes. (Read more)

Dutch Council Presidency: anti-tax avoidance package to be ready before summer

TAX2 29-02-2016

The Netherlands' Council Presidency wants to make rapid progress on the implementation of the OECD action plan against corporate tax base erosion and profit shifting (anti-BEPS), the Dutch State Secretary responsible for Taxation Eric Wiebes told members of the Special Committee for Tax Rulings II on Monday in a hearing on the Dutch plans in the field of corporate taxation. (Read more)

Ending EU citizens' bank secrecy in San Marino

Plenary Session 25-02-2016

An EU deal with San Marino, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament in a vote on Thursday. Under the deal, the EU and San Marino will automatically exchange information on the bank accounts of each other's residents, starting in 2017. (Read more)

MEPs note the positive impact of money easing, but call for the ECB to monitor the risks associated with it

Plenary Session 25-02-2016

MEPs note the positive yet modest impact of the Asset Purchase Programme (APP) on money and credit dynamics but want the European Central Bank to monitor the risks associated with its unconventional monetary policy measures and say they are worried about "the unintended consequences and long-term effects" of its quantitative easing programme. The warnings came in a reaction to the ECB's Annual report for 2014, which was adopted by Parliament on Thursday by 400 votes to 169 with 59 abstentions. (Read more)

Parliament approves its economic, social and single market priorities for 2016

Plenary Session 25-02-2016

Parliament's economic, social and single market priorities for 2016 were adopted on Thursday in three separate resolutions. MEPs gave their input to the upcoming March economic summit, focusing on the implementation of the Stability and Growth Pact, its social aspects and how to further exploit the economic potential of the single market. (Read more)

EP's economic, social and single market priorities 2016 up for debate and vote

ECON EMPL IMCO 24-02-2016

The EU's economic, social and single market priorities for 2016 will be the focus of a debate with Commission Vice-president Valdis Dombrovskis on the European Semester for economic policy coordination this afternoon. MEPs are expected to comment on the implementation of the Stability and Growth Pact, its' social aspects and how to further exploit the economic potential of the single market. Three separate resolutions will be voted on Thursday. (Read more)

ECON Committee Endorses Italian Fausto Parente as EIOPA Executive Director

ECON 23-02-2016

The European Parliament's Economic and Monetary Committee endorsed the appointment of Fausto Parente as the new Executive Director of the European Insurance and Occupational Pensions Authority (EIOPA) on Wednesday by 47 votes to 1 with 8 abstentions. Mr Parente was selected to replace the outgoing Carlos Monalvo Rebuelta. (Read more)

Dijsselbloem pledges to strengthen EU Banking Union and tackle tax-avoidance

ECON 18-02-2016

Eurogroup President Jeroen Dijsselbloem will strive to strengthen the EU Banking Union, despite recent calls to loosen regulation in response to bank share volatility in in global markets, he told the Economic and Monetary Affairs Committee on Thursday. "There should be no doubt of the European Union's determination to apply these rules", he said in his capacity as Eurogroup President and chair of the Economic and Financial Affairs Council (ECOFIN). (Read more)

Use flexibility in Stability and Growth Pact to finance refugee and security challenges, MEPs say

ECON 18-02-2016

The Stability and Growth Pact should be implemented in full but its available room for flexibility should be used for investment and structural reforms and to deal with refugee and security challenges, Economic and Monetary Affairs Committee members say in the report laying down their economic priorities for 2016. (Read more)

ECON members' stance on Banking Union: Capital requirements versus lending capacity

ECON 16-02-2016

Members of Parliament's Economic and Monetary Affairs Committee want the European Commission and the European Supervisory Authorities to conduct an in depth assessment of the effect of increasing capital requirements in current and future legislation on credit supply, especially to SMEs. They fear that the financing conditions of the real economy are falling victim to the various new capital requirements banks have to cope with. (Read more)

MEPs want one EU seat in International Economic Bodies

ECON 15-02-2016

In order to increase the EU's influence in major economic organisations, the EU should try to have one single seat on bodies such as the G20, while there should be single euro area representation at the IMF. (Read more)

"We have plenty of monetary policy instruments if needed", Draghi tells MEPs

ECON 15-02-2016

The European Central Bank has plenty of monetary policy instruments, and the leeway to use them if needed, ECB President Mario Draghi told economic and monetary affairs MEPs on Monday. The ECB’s assets purchase programme is flexible enough to adapt to changing economies and markets, he replied to comments that it may soon run out of room to manoeuvre.Mr Draghi had already warned that the ECB Board would probably reconsider its monetary policy stance in March due to the weaker inflation outlook. (Read more)

 

"ECB will reconsider its monetary stance in March", Mario Draghi tells MEPs

Plenary Session 01-02-2016

European Central Bank President Mario Draghi defended the ECB's monetary policy decisions in a debate with MEPs on Monday evening, saying that the Bank will revise its monetary stance in March and acknowledging that the December 2015 inflation outlook was too rosy. (Read more)

Key MEPs react to Commissions new anti-tax avoidance proposals

ECON TAX2 28-01-2016

Following today's Commission proposals for an EU wide response to corporate tax avoidance and to fight aggressive tax practices by large companies, chairman of Parliament's Special Committee on Tax Rulings Alain Lamassoure (EPP, FR), the chairman of the Economic and Monetary Affairs committee, Roberto Gualtieri (S&D, IT) and the two co-rapporteurs in the field of corporate taxation Anneliese Dodds (S&D, UK) and Luděk Niedermayer (EPP, CZ) gave the following statements: (Read more)

ECON Chair welcomes ECB plans to revise its monetary policy and confirmation of no NPL plans

ECON 21-01-2016

Speaking after the press conference that followed today's ECB Governing Council meeting, Roberto Gualtieri, Chair of the Committee on economic and monetary affairs (ECON) said:... (Read more)

 

Rules governing EU financial services should be coherent, proportional and effective

ECON 19-01-2016

It is necessary to have the first stocktake of financial services reforms initiated by the financial crisis of 2007-2008, to make sure that the rules are consistent, proportionate and non-duplicative, says a non-legislative report by Burkhard Balz (EPP, DE) adopted by the Plenary on Tuesday. The core principle of the new Capital Markets Union (CMU) must be to place greater focus on the end-users of capital markets i.e. companies and investors, MEPs say. (Read more)

Illegal corporate tax deals: EP calls for compensation for countries that suffer

Plenary Session 19-01-2016

If the European Commission decides that an EU member state should recover money from a company due to infringements of tax-related state aid rules, this money should be returned not to the same member state, but to member states that have suffered an erosion of their tax bases or to the EU budget, says the European Parliament in a resolution approved on Tuesday by 500 votes to 137, with 73 abstentions. (Read more)

2016: year of corporate tax reform and fiscal transparency, Moscovici tells MEPs

ECON TAX2 12-01-2016

2016 should be the year of corporate tax reform and fiscal transparency, tax Commissioner Pierre Moscovici told MEPs from the Special Committee on Tax Rulings and the Economic and Monetary Affairs Committee at a hearing on Monday evening. “We have a serious problem with tax avoidance and lack of transparency. Too many people have looked the other way”, Mr Moscovici said. (Read more