12

result(s)

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Publication type
Policy area
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Keyword
Date

European Central Bank appointments: Role of the European Parliament

15-07-2019

The European Parliament plays an important role in the appointment processes of two European Central Bank bodies: the Executive Board and the Supervisory Board (Chair and Vice-Chair). This paper aims to: a) provide an overview of the relevant procedural provisions, b) present a selection of past appointments; and c) describe the evolving role of the European Parliament in those procedures. This document was prepared by Policy Department A for the Economic and Monetary Affairs Committee.

The European Parliament plays an important role in the appointment processes of two European Central Bank bodies: the Executive Board and the Supervisory Board (Chair and Vice-Chair). This paper aims to: a) provide an overview of the relevant procedural provisions, b) present a selection of past appointments; and c) describe the evolving role of the European Parliament in those procedures. This document was prepared by Policy Department A for the Economic and Monetary Affairs Committee.

The International Monetary Fund: 15th General Review of Quotas

03-04-2019

The International Monetary Fund (IMF) is set to engage in a quota review which is likely to have important institutional, economic and political consequences. Quotas are an essential component of the governance structure of the IMF, defining the influence member countries exert in the decision-making processes, their financial commitments and access to financing in case of need. The 15th review is likely to revolve around two key issues: overall sufficiency of IMF resources and redistribution of ...

The International Monetary Fund (IMF) is set to engage in a quota review which is likely to have important institutional, economic and political consequences. Quotas are an essential component of the governance structure of the IMF, defining the influence member countries exert in the decision-making processes, their financial commitments and access to financing in case of need. The 15th review is likely to revolve around two key issues: overall sufficiency of IMF resources and redistribution of quota shares between countries. This paper, prepared by Policy department A, aims to provide a general description of the quota system and the current state of play of the review. It also discusses the dimension of parliamentary scrutiny.

Studies in Focus: Mis-selling of Financial Products

14-09-2018

This note, prepared by Policy Department A for the Committee on Economic and Monetary Affairs, gives an overview of five studies on Mis-selling of financial products which were published in June 2018.

This note, prepared by Policy Department A for the Committee on Economic and Monetary Affairs, gives an overview of five studies on Mis-selling of financial products which were published in June 2018.

The European Investment Bank

01-02-2018

The European Investment Bank (EIB) furthers the objectives of the European Union by providing long-term project funding, guarantees and advice. It supports projects both within and outside the EU. Its shareholders are the Member States of the EU. The EIB is the majority shareholder in the European Investment Fund (EIF) and, together with the latter, makes up the EIB Group. Within the Investment Plan for Europe proposed by the Commission, the EIB Group is part of a broader strategy aimed at overcoming ...

The European Investment Bank (EIB) furthers the objectives of the European Union by providing long-term project funding, guarantees and advice. It supports projects both within and outside the EU. Its shareholders are the Member States of the EU. The EIB is the majority shareholder in the European Investment Fund (EIF) and, together with the latter, makes up the EIB Group. Within the Investment Plan for Europe proposed by the Commission, the EIB Group is part of a broader strategy aimed at overcoming the large investment gap by relieving investors of some of the risk inherent in projects.

Free movement of capital

01-02-2018

The free movement of capital is one of the four fundamental freedoms of the EU single market. It is not only the most recent one but, because of its unique third-country dimension, also the broadest. The liberalisation of capital flows progressed gradually. Since the Maastricht Treaty (1994), restrictions on capital movements and payments were removed, both between Member States and with third countries. The principle has direct effect, i.e. it requires no further legislation at either EU or Member ...

The free movement of capital is one of the four fundamental freedoms of the EU single market. It is not only the most recent one but, because of its unique third-country dimension, also the broadest. The liberalisation of capital flows progressed gradually. Since the Maastricht Treaty (1994), restrictions on capital movements and payments were removed, both between Member States and with third countries. The principle has direct effect, i.e. it requires no further legislation at either EU or Member State level.

History of economic and monetary union

01-02-2018

Economic and monetary union (EMU) is the result of progressive economic integration in the EU. It is an expansion of the EU single market, with common product regulations and free movement of goods, capital, labour and services. A common currency, the euro, has been introduced in the eurozone, which currently comprises 19 EU Member States. All 28 EU Member States — with the exception of the UK and Denmark — must adopt the euro after a minimum of two years’ participation in ERM II and fulfilment of ...

Economic and monetary union (EMU) is the result of progressive economic integration in the EU. It is an expansion of the EU single market, with common product regulations and free movement of goods, capital, labour and services. A common currency, the euro, has been introduced in the eurozone, which currently comprises 19 EU Member States. All 28 EU Member States — with the exception of the UK and Denmark — must adopt the euro after a minimum of two years’ participation in ERM II and fulfilment of the convergence criteria. A single monetary policy is set by the European Central Bank (ECB) and is complemented by harmonised fiscal and coordinated economic policies. Within EMU there is no single institution responsible for economic policy. Instead, responsibility is divided between Member States and various EU institutions.

European System of Financial Supervision (ESFS)

01-02-2018

The European System of Financial Supervision (ESFS) is a multi-layered system of micro- and macro-prudential authorities that includes the European Systemic Risk Board, the three European supervisory authorities and the national supervisors. The ESFS aims to ensure consistent and coherent financial supervision in the EU. This supervisory system is undergoing changes further to the introduction of the Banking Union and the anticipated withdrawal of the United Kingdom from the EU.

The European System of Financial Supervision (ESFS) is a multi-layered system of micro- and macro-prudential authorities that includes the European Systemic Risk Board, the three European supervisory authorities and the national supervisors. The ESFS aims to ensure consistent and coherent financial supervision in the EU. This supervisory system is undergoing changes further to the introduction of the Banking Union and the anticipated withdrawal of the United Kingdom from the EU.

Financial services policy

01-02-2018

Financial services form an essential part of the EU’s efforts to complete the internal market, under the free movement of services and capital. Progress towards integration has come in phases, which can be divided as follows: (1) removal of national entry barriers (1957-1973); (2) harmonisation of national laws and policies (1973-1983); (3) completion of the internal market (1983-1992); (4) creation of the single currency area and pre-crisis period (1999-2007); and (5) post-crisis reform (from 2007 ...

Financial services form an essential part of the EU’s efforts to complete the internal market, under the free movement of services and capital. Progress towards integration has come in phases, which can be divided as follows: (1) removal of national entry barriers (1957-1973); (2) harmonisation of national laws and policies (1973-1983); (3) completion of the internal market (1983-1992); (4) creation of the single currency area and pre-crisis period (1999-2007); and (5) post-crisis reform (from 2007). The withdrawal of the United Kingdom from the EU brings a new set of challenges with potential implications for the financial services sector within the EU and beyond.

Indirect taxation

01-02-2018

Indirect taxes include value added tax (VAT) and excise duties on alcohol, tobacco and energy. The common VAT system is generally applicable to goods and services that are bought and sold for use or consumption in the EU. Excise duties are levied on the sale or use of specific products. EU legislative activities are aimed at coordinating and harmonising VAT law and harmonising duties on alcohol, tobacco and energy with the aim of ensuring the proper functioning of the internal market.

Indirect taxes include value added tax (VAT) and excise duties on alcohol, tobacco and energy. The common VAT system is generally applicable to goods and services that are bought and sold for use or consumption in the EU. Excise duties are levied on the sale or use of specific products. EU legislative activities are aimed at coordinating and harmonising VAT law and harmonising duties on alcohol, tobacco and energy with the aim of ensuring the proper functioning of the internal market.

Direct taxation: Personal and company taxation

01-02-2018

The field of direct taxation is not directly governed by European Union rules. Nevertheless, a number of directives and the case law of the Court of Justice of the European Union (CJEU) establish harmonised standards for taxation of companies and private individuals. Moreover, actions have been taken to prevent tax evasion and double taxation.

The field of direct taxation is not directly governed by European Union rules. Nevertheless, a number of directives and the case law of the Court of Justice of the European Union (CJEU) establish harmonised standards for taxation of companies and private individuals. Moreover, actions have been taken to prevent tax evasion and double taxation.

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