John Bruton | I recently attended a conference that looked at France’s domestic economic situation, and the impact that has on the country’s global and European role. According to budgets published in October, France and Italy are failing to meet the eurozone’s requirements for reducing government debts and deficits to sustainable levels.
BERLIN | By Alberto Lozano | While European media focus their attention on low inflation across Europe, concerns about the budgets of France and Italy, as well as the need for investment in Germany, more than 50 countries are about to take a crucial step in the fight against tax avoidance: the signing of the Multilateral Competent Authority Agreement on implementing a new international standard in the automatic exchange of information (AEOI).
MADRID | The Corner | The European Commission said on Tuesday it had found no serious fault with eurozone member states’ 2015 budget plans, clearing France and Italy after they made last-minute changes to meet EU demands. The budget review covered all 18 eurozone countries, with the focus on struggling France and Italy after Brussels told them that their original plans fell well short of what was required to meet European Union norms.
MADRID | By Sean Duffy | Wednesday’s meeting in Berlin, hosted by German finance minister Wolfgang Schauble, will once again throw the issue surrounding the taxation of large corporations into the spotlight. The meeting, to be attended by delegates from over 50 countries, is seen as the next step in a concerted effort by governments worldwide to close exploitative tax loopholes which have been a favoured accounting tool for international firms operating in Europe.
BRUSSELS | By Alexandre Mato | The outcome of the stress tests led by the ECB and EBA showed that there are important weaknesses in the Italian and Greek financial sectors. 7 out of the 13 institutions that had to raise capital come from both countries. Perhaps, the era of restructuring are not yet behind us and the sector needs still more integration.
ATHENS | By Jens Bastian via MacroPolis | Why is the process of privatization in Greece fraught with political controversies, a lack of public support in large parts of Greek society and subject to ever-increasing administrative delays and judicial objections?
BERLIN | By Alberto Lozano | Considering current low interest rates, ageing infrastructure in Germany, the slowdown of the economy and the threat of a new recession in the Eurozone, does it make sense that the German government is prioritizing a balanced budget for 2015?
MADRID | By Luis Arroyo | Last jobless data in Spain were excellent in terms of unemployment rate reduction, the government pointed out on Thursday. But are they 100% reliable? Total worked hours have fallen and they continue to fall. That is, more Spaniards are working, yet more and worse paid hours. In the graph above: total working hours per week.
BRUSSELS | By Alexandre Mato | The EU hopes to set up a new policy framework targeting the reduction of greenhouse gas emissions by improving renewable energy by 2030. The continent´s energy efficiency would be improved with utilities companies and operators operating under the auspices of the directive. It could be a crucial step, designed to save €100bn annually for consumers –most of them households.
BERLIN | By Alberto Lozano| This November, the European Central Bank will assume its new banking supervisory responsibilities. Firstly, on 26th October the ECB will publish results of comprehensive assessments that will determine the financial health of 120 banks in the Eurozone. These tests cover approximately 85% of total bank assets. But what about the remaining 3,532 small banks of the euro area?