Each six months, according to a pre-established order, a new Member State takes the helm of the Council of the EU. The Presidency's role encompasses chairing Council meetings, taking charge of the agenda, promoting legislative and political decisions, and brokering compromises among Member States. Starting today, July 1st 2014, Italy holds this position through December 31. The presidency trio programme is on line Italy, Latvia and Luxemburg: from 1 July 2014 to 31 December 2015 Member states holding the six-month presidency work...

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At a meeting of the Economic and Financial Affairs Council today the euro area member states adopted a recommendation approving a proposal that would enable Lithuania to become the 19th member of the currency union on 1 January 2015. They agreed with the Commission’s assessment that Lithuania has achieved a high degree of sustainable convergence with the euro area, and that it therefore fulfils the conditions for adopting the euro as its currency. The proposal will be referred to the European...

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The EU promoted Albania from “potential candidate” to full “candidate” status last week, reflecting Albania’s progress toward implementing necessary reforms. The enlargement process is one of the EU’s most powerful policy tools, having helped many countries over the years transform into functioning democracies and prosperous societies. From the fall of the Berlin Wall, the EU has promoted democratic transitions and market-oriented reforms to former communist states in Europe, offering EU access once applicant countries meet the required political and economic...

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Guidelines to help business users save money and get the most out of cloud computing services are being presented to the European Commission today. Cloud computing allows individuals, businesses and the public sector to store their data and carry out data processing in remote data centres, saving on average 10-20%. The guidelines have been developed by a Cloud Select Industry Group as part of the Commission’s European Cloud Strategy to increase trust in these services. Contributors to the guidelines include...

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At the Economic and Financial Affairs Council meeting the ministers agreed an amendment to EU tax rules that will close a loophole which had allowed cross-border corporations to profit from double non-taxation. At the Economic and Financial Affairs Council meeting on 20 June the ministers agreed an amendment to EU tax rules that will close a loophole which had allowed cross-border corporations to profit from double non-taxation. The agreed amendment to the parent-subsidiary directive (2011/96/EU) will put an end to the...

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During today’s (18.06.2014) Coreper meeting, Ambassadors of the 28 EU member states agreed on a General Approach on the Anti-Money Laundering (AML) legislative package, comprising the 4th AML Directive and the new Fund Transfer Regulation. This agreement constitutes the negotiating mandate for the incoming Italian Presidency to conduct trilogues with the European Parliament. The agreement is important as it strengthens the rules and the tools to be used in the fight against money laundering and terrorist financing, in line with...

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“Six themes, one continent, a journey of a lifetime”:  is an apt description of the European Commission’s collection of stories by experienced travel writer, Andy Round, as he journeyed throughout Europe, delving well beneath the typical tourist veneer. He followed fashion in more than the usual venues, experienced cities through their history and architecture, investigated the coastlines and civilizations from north to south and east to west, explored the majesty and magic of several European monarchies, participated in the wintry...

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Labour taxes remain major source of tax revenue The overall tax-to-GDP ratio1, meaning the sum of taxes and compulsory social contributions in % of GDP, in the EU282 stood at 39.4% in 2012, up from 38.8% in 2011. The overall tax ratio in the euro area2 (EA18) increased to 40.4% in 2012 from 39.5% in 2011. In 2013, Eurostat estimates show that tax revenues as a percentage of GDP are set to continue rising in both zones. The tax burden varies...

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