Finance & Trade

EU Seeks New Rules on Tax Governance

March 20, 2015

The Irish Times reports that following the European Commission's proposal to require EU member states to publicly disclose information on corporate tax rulings each quarter, the Commission plans to advance a proposal to establish a single set of rules for calculating corporations' taxable profits in the EU.
ECB President Calls for "Quantum Leap" in Integration

March 19, 2015

Arguing that the eurozone countries had "integrated too much to even entertain reversing the process," President of the European Central Bank ("ECB") Mario Draghi has called for a "quantum leap" forward in the convergence of eurozone institutions.
IEA Rejects "Brexit" Job Loss Claim

March 11, 2015

U.K. think tank Institute of Economic Affairs has issued a report denying the claims of supporters of British membership in the EU that three to four million jobs would be lost if the U.K. left the bloc.
EU Demands End to Cider Tax Exemption in U.K.

March 11, 2015

The European Commission has called on the U.K. to eliminate its duty exemption, worth £2,500, for small-scale producers of cider and perry.
EU Guidelines Expand Reach of Banking Bonus Cap

March 11, 2015

Guidelines issued by the European Banking Authority ("EBA") on the new EU bonus cap for banks clarify that the EBA will apply the cap to all credit firms and their subsidiaries, as well as to allowances that many British firms have been issuing in order to avoid the effects of the cap.
EU Alleges Hungary Infringed Bloc's Energy Rules

March 11, 2015

Hungary Today reports that the European Commission has launched an infringement procedure against Hungary alleging that the country may have violated EU energy rules regarding such issues as ownership and regulatory independence.
Court Holds ECB Exceeded Powers on Clearing Houses

March 04, 2015

The Court of Justice of the EU has upheld a U.K. legal challenge to a policy of the European Central Bank ("ECB") that large euro transactions should take place within the eurozone, finding that the ECB had exceeded its mandate in producing the policy.
EU Pushes Federalization of Energy Regulation

February 25, 2015

The Guardian reports that the European Commission is set to announce plans to centralize authority over energy policy in the EU at the expense of national energy regulators in the bloc's member states.
EU Seeks Move Toward Centralized "Energy Union"

February 20, 2015

In a recent speech, European Commissioner for Climate Action and Energy Miguel Arias Cañete called for directives requiring energy efficiency in EU member states and for a binding international treaty limiting greenhouse gas emissions around the world to counter global warming.
EU Investigates U.K. for "State Aid" to Power Plant

February 20, 2015

The European Commission has launched an investigation into whether measures in Britain to support the conversion of a coal power plant to operate only on "biomass" constitutes state aid in contravention of EU rules.