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ECJ: EU Exceeded Authority on Warning System
April 29, 2015
In a case involving a Greek bank, the Court of Justice of the EU ("ECJ") recently held that the European Commission exceeded its authority in establishing an Early Warning System for the Commission and EU agencies regarding third parties that could present a threat to the EU's financial interests or reputation.
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EU Investigates "Fragmentation" of Financial Services, Insurance
April 28, 2015
EurActiv reports that the European Commission plans to launch a consultation on the lack of cross-border activity in the EU financial services and insurance sectors and how to move forward the internal market in these areas.
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Commission Proposes European Agenda on Security
April 28, 2015
In recent remarks, European Commission Vice-President Frans Timmermans pushed for the adoption of the Commission's proposed European Agenda on Security, which would ramp up security coordination among EU member states and develop more data-sharing and judicial cooperation in the EU.
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Ministers Back EU Tax "Clampdown"
April 27, 2015
AFP reports that as the European Commission investigates alleged special tax deals for multinational corporations in certain countries, EU finance ministers recently agreed to a deal seeking to fight corporate tax "avoidance" by mandating communications on tax rulings among EU countries.
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EU: Members Have Not Implemented Economic Reforms
April 27, 2015
Reuters reports that an EU document presented to finance ministers from the bloc expresses concern that EU member states have failed to implement necessary reforms mandated by the European Commission.
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