Europeans expect their Union to do more. At a time when the EU is doing more than ever before to protect, empower and defend its citizens, resources continue to be stretched at the seams. As Europe decides on its future, the EU needs a budget that is fit for purpose and makes every euro work for its citizens. Published today, the Commission's reflection paper on the future of EU finances looks at the options to make that a reality. The issues...

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The European Commission has fined Google €2.42 billion for breaching EU antitrust rules. Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service. The company must now end the conduct within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google's parent company. Commissioner Margrethe Vestager, in charge of competition policy, said: "Google has come up with many...

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The EU is committed to gender equality and sustainable development. These values are in our DNA, in our founding principles, and they should be a natural part of our trade policy as well. For me, trade is about being open: About broadening horizons and opportunities, about bringing down barriers and empowering people. That means that we want more women involved in the labour market here in Europe, and we want to support women's economic independence around the world. Trade and...

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In the follow blog piece, originally posted on Social Europe, Carlos Vacas-Soriano and Enrique Fernández-Macías look at evolution of household disposable real income levels over the period 2004-2013, and the broader phenomenon on Europe's shrinking middle class. The Great Recession depressed real income levels across European countries. But the impact was very unequal across countries and income groups. Countries in the European periphery have been more affected than those in the core, halting the process of income convergence between European countries...

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The College adopted a proposal which will further reinforce the EU’s tax transparency framework and discussed the preparation of the June European Council. New transparency rules for tax planning intermediaries Recent events such as the Panama Papers revelations have exposed how some intermediaries actively assist companies and individuals to escape taxation, usually through complex cross-border schemes. This is the reason why the European Commission has today proposed tough new transparency rules for intermediaries – such as tax advisors, accountants, banks and lawyers...

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    Compliments of the Atlantic Council's Global Business and Economics Program

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Commission forges ahead on new transparency rules for tax planning intermediaries The European Commission has today proposed tough new transparency rules for intermediaries - such as tax advisors, accountants, banks and lawyers - who design and promote tax planning schemes for their clients. Recent media leaks such as the Panama Papers have exposed how some intermediaries actively assist companies and individuals to escape taxation, usually through complex cross-border schemes. Today's proposal aims to tackle such aggressive tax planning by increasing scrutiny...

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The annual European Innovation Scoreboard (EIS) provides a comparative assessment of research and innovation performance and the relative strengths and weaknesses of national research and innovation systems. It covers the EU Member States as well as Iceland, Israel, the Former Yugoslav Republic of Macedonia, Norway, Serbia, Switzerland, Turkey, and Ukraine. On a more limited number of globally available indicators, the EIS also rates Australia, Brazil, Canada, China, India, Japan, the Russian Federation, South Africa, South Korea, and the United...

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General comments 577 seats renewed at the National Assembly, the most important chamber of the French Parliament; The second round confirms the solid victory of President Macron’s party, La République En Marche (LREM), although slightly below the latest forecast, with a total of 350 seats obtained by its candidates and those of the ally party Modem, representing more than 60% of the National Assembly. This absolute majority should allow the new President to adopt his forthcoming reforms. The center-right...

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The European Investment Bank (EIB) has provided BNL Gruppo BNP Paribas with a total of EUR 250m via two new agreements to finance SMEs and public entities on a local and national level, as well as midcap companies for research and innovation projects.  The contracts include in particular:  financing of EUR 200m that can be used either by SMEs (businesses with fewer than 250 employees) or – for a maximum share of 30% – by publicly-owned companies of any size;  financing of EUR 50m...

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