Finance & Trade

MEP Calls for EU Parliament to Cut Red Tape

April 01, 2015

U.K. Member of the European Parliament ("MEP") Vicky Ford, head of the Parliament's internal market and consumer protection committee, has called for the body to back new reforms, including a "one in, one out" policy, to cut Brussels red tape that she argues is burdening European businesses.
MEPs Criticize Inefficient Spending of EU Money

April 01, 2015

Members of the European Parliament's ("MEPs") budgetary control committee warned in two recent votes that EU member states are not spending the bloc's money effectively.
EU Leaders Proceed with Energy Union Plans

March 25, 2015

EurActiv reports that government leaders in the European Council broadly agreed to proceed with developing an "energy union" in the EU, though specific details of such a union remain undecided.
EIB Faces Accusations of Lack of Transparency

March 20, 2015

According to The Guardian, a report from the European ombudsman on the European Investment Bank ("EIB"), owned by EU member states, criticizes the EIB for "maladministration" for refusing to make public a report on the alleged evasion of millions in taxes by an African mining firm.
EU Seeks New Rules on Tax Governance

March 20, 2015

The Irish Times reports that following the European Commission's proposal to require EU member states to publicly disclose information on corporate tax rulings each quarter, the Commission plans to advance a proposal to establish a single set of rules for calculating corporations' taxable profits in the EU.
ECB President Calls for "Quantum Leap" in Integration

March 19, 2015

Arguing that the eurozone countries had "integrated too much to even entertain reversing the process," President of the European Central Bank ("ECB") Mario Draghi has called for a "quantum leap" forward in the convergence of eurozone institutions.
IEA Rejects "Brexit" Job Loss Claim

March 11, 2015

U.K. think tank Institute of Economic Affairs has issued a report denying the claims of supporters of British membership in the EU that three to four million jobs would be lost if the U.K. left the bloc.
EU Demands End to Cider Tax Exemption in U.K.

March 11, 2015

The European Commission has called on the U.K. to eliminate its duty exemption, worth £2,500, for small-scale producers of cider and perry.
EU Guidelines Expand Reach of Banking Bonus Cap

March 11, 2015

Guidelines issued by the European Banking Authority ("EBA") on the new EU bonus cap for banks clarify that the EBA will apply the cap to all credit firms and their subsidiaries, as well as to allowances that many British firms have been issuing in order to avoid the effects of the cap.
EU Alleges Hungary Infringed Bloc's Energy Rules

March 11, 2015

Hungary Today reports that the European Commission has launched an infringement procedure against Hungary alleging that the country may have violated EU energy rules regarding such issues as ownership and regulatory independence.