Finance & Trade

EU Will Investigate U.K.'s Immigration Measures

July 30, 2014

The European Commission has announced that it plans to investigate new immigration policies announced by U.K. Prime Minister David Cameron to, among other things, shorten the amount of time during which immigrants from other EU countries to the U.K. can receive out-of-work benefits.
U.K.'s Cameron Seeks Restrictions on Immigrant Benefits

July 30, 2014

British Prime Minister David Cameron is seeking laws that discourage EU immigration to the U.K., including halving the amount of time during which EU migrants in Britain can receive unemployment benefits to three months and limiting the number of U.K. jobs that are advertised across the EU.
Lithuania Will Adopt Euro Currency in 2015

July 30, 2014

The European Council has announced that it has adopted a decision authorizing Lithuania to join the euro in January 2015.
EU Council Adopts Regulation for Single Resolution Mechanism

July 23, 2014

The Council of the EU has adopted rules establishing a Single Resolution Mechanism that will place an EU board in control of dealing with failing banks using a single resolution fund.
EU Finance Ministers Seek to Close Tax "Loopholes"

July 14, 2014

Finance Ministers from EU member states have agreed to a proposal to reform tax legislation in Europe that has purportedly allowed multinational corporations to use differing national tax policies to lower their overall tax bills.
EU Demands Amazon Tax Documents from Luxembourg

July 14, 2014

As part of a broader investigation of whether EU member states are engaging in unlawful tax deals to encourage the presence of multinational companies, the European Commission has ordered Luxembourg to hand over documents relating to the tax status of online retailer Amazon.
Business for Britain Calls for U.K. Supremacy on Finance Rules

July 14, 2014

The U.K. organization Business for Britain has published a letter expressing concern regarding EU measures on the financial sector that erode competitiveness and calling for politicians to ensure that Britain's financial sector "is always fundamentally regulated and controlled by the British people."
Opinion Finds EU Exemption from Trading Rules Unlawful

July 11, 2014

An opinion from attorneys of the EU Council finds that an EU provision creating an exemption from legislation prohibiting "proprietary trading" by banks was in fact illegal and could not shield countries with their own laws permitting such trading, such as the U.K., from the EU legislation's effect.
EU Investigates Corporate Tax Deals

June 20, 2014

The European Commission has announced that it has opened an investigation of member states' tax deals with three multinational companies to determine whether these deals violated EU "state aid" rules.
EU Mango Ban Highlights Regulatory Ambition in Brussels

June 20, 2014

Allie Renison of the Institute of Directors writes that the European Commission's recent ban of mango imports from India until December 2015 emphasizes the knee-jerk, disproportionate reaction to trade issues by the EU, which harms trade between member states and countries outside Europe.