Brussels, 18 March 2015 -- The European Commission today presented a package of tax transparency measures as part of its ambitious agenda to tackle corporate tax avoidance and harmful tax competition in the EU. A key element of this Tax Transparency Package is a proposal to introduce the automatic exchange of information between Member States on their tax rulings. Corporate tax avoidance is thought to deprive EU Member States’ public budgets of billions of euros a year. It also undermines...

There are differences. If there weren't there wouldn't be a negotiation. And this certainly is a negotiation. Which means that it's following the pattern of a negotiation. And that pattern is that you don't solve everything at the beginning and you leave the hard things for the end. For any diligent student that's a bit counter-intuitive. But we know it's the way things work. And it makes our task very clear." -  Cecilia Malmström Commissioner Malmström gave remarks on the...

The World Wildlife Federation (WWF) this week published a major report calling on the European Commission to deliver widespread reforms to the region's environmental and climate change policies, arguing that without drastic action, escalating climate and biodiversity risks will wreak havoc across the economy. The report, "From crisis to opportunity: Five steps to sustainable European economies", draws on more than 400 separate studies from the likes of the U.N., the OECD, the World Bank, McKinsey, Lord Stern and the EU...

One of the things the EU does best is coordinating policies that do not respect national boundaries. A report released March 3 by the EU’s European Environment Agency says that over the past five years, EU citizens have benefited from cleaner air and water, sent less waste to landfills, and recycled more, thanks to a coordinated EU environment policy. However, the report warns that the EU still faces risks of environmental deterioration in the next five years and beyond that...

At today's ECOFIN Council, EU Finance Ministers agreed on the Regulation to set up the European Fund for Strategic Investments (EFSI), which will be at the heart of the Commission's €315 billion Investment Plan for Europe. The decision clears a major hurdle on the path to matching ample liquidity reserves with potential investment projects. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, welcomed the news: "I congratulate the Latvian Presidency for their speedy and skilful steering...

The fees that banks charge retailers to process shoppers’ payments will be capped, under uniform EU-wide rules, further to a vote in Parliament on Tuesday. The cap, which will apply to both cross-border and domestic card-based payments, should result in lower costs for card users. "This legislation, combined with the upcoming Payment Services Directive, will establish a level playing field for payments across Europe. It should enhance fee transparency, stimulate competition and enable both retailers and users to choose...

"The Obama Administration's trade policy is firmly anchored in Middle Class economics. We are seeking to grow our economy, support good-paying jobs, and strengthen the middle class. The Obama Administration is working to set a new standard, insisting that our values undergird our trade policy today and in the future, promoting strong labor and environmental standards that protect our workers, oceans, and forests." In a report released this week, USTR emphasizes that President Obama's trade policy seeks to promote economic growth,...

Speech given by Dr. Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank | Money Marketeers in New York | Wednesday, 4 March 2015 Ladies and gentlemen, Thank you for inviting me to speak at a Money Marketeers event today. I would like to give you a brief overview of the current situation in Germany and the euro area. I am particularly looking forward to discussing these issues with you and hearing your perspective. Mutual exchange is essential in a globalised world where...