Finance

Justice

Independent EU body promises common approach to fight fraud

European Public Prosecutor’s Office

The European Parliament voted with a large majority in favour of establishing a European Public Prosecutor’s Office. The new EU public prosecutor will be an independent body with the power to investigate and prosecute fraud in the EU, particularly VAT fraud.

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©sergey-zolkin

Greens/EFA Round up

Debriefing of the Strasbourg plenary week 3-6 July 2017

Greens/EFA priorities for the Strasbourg Plenary included: Longer lifetimes for products would benefit consumers and business; Country by country reporting will help deliver tax justice; Endocrine Disrupters definition not fit for purpose; “PIF” directive will help Union in the fight against fraud; New parliamentary committee on terrorism; Turkey: EU progress incompatible with proposed constitutional reforms; Marrakesh Treaty - copyright exceptions on books for the blind or visually impaired; Refugees and migration.

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Camilo Rueda López (CC BY-ND 2.0)

MEPs back measures to fight VAT crime

VAT fraud

The European Parliament has backed the directive on the protection of the financial interests of the EU (or "PIF Directive"). This will reform the collection of VAT for cross-border businesses and will make consistent EU-wide rules on VAT fraud.

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Petar Milošević (CC BY-SA 4.0)

Blatant disregard for the banking union rules

EU Commission approves rescue of Monte dei Paschi

"The European Commission has again shown blatant disregard for the rules of the European Banking Union. There is no legal justification for further banking subsidies from the European Commission, only a clearly political one," says Sven Giegold.

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(CC BY-SA 2.0) Dave Dugdale

Country-by-country reporting is a major win for tax justice

Tax Justice

The European Parliament has today backed proposals for country-by-country reporting of financial information, a major tool in the fight for tax justice. Country-by-country reporting would require large multinationals operating within the EU to publish financial information for all territories in which they operate, including those outside the EU.

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Circumvention of EU Law sets a dangerous precedent

New Banking Subsidies in Italy

"This is an outrageous circumvention of the rules of the European Banking Union," says Sven Giegold.

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©antonio-grosz

Greens/EFA Round up

Debriefing of the Strasbourg plenary week 12-15 June 2017

Greens/EFA priorities for the Strasbourg Plenary included: Tax justice: Country by country reporting; Glyphosate renewal; Energy efficiency labelling; 2016 report on Kosovo; Effort sharing regulation and President Trump's decision to withdraw the US from the Paris agreement; Trump's decision to withdraw the US from the Paris agreement; Panama Papers follow-up and the rule of law in Malta; Preparation of the European Council of 22 and 23 June 2017.

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HELEN M BUSHE (CC BY-NC-ND 2.0)

Fair and thorough investigation urgently needed

Malta / Money Laundering

MEPs have today held a debate on the Panama Papers and the rule of law in Malta in the presence of Maltese Prime Minister, Joseph Muscat. Prime Minister Muscat faces allegations that senior members of his government were involved in money laundering. Despite several senior officials being implicated...

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Epizentrum | CC BY-SA 3.0

Commission sets out options for Eurozone's future

Reflection paper

The European Commission has today (31 May) released a reflection paper setting out options for the completion of a robust economic and monetary union. The proposal contains almost nothing on social and taxation issues, which leaves the EU lagging far behind French President Macron's proposals for social minimum standards, as well as a minimum corporate tax.

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Epizentrum, CC BY-SA 3.0

New rules for finance industry sign of political amnesia

Securitisation agreement

The European Parliament and Council of ministers agreed on new legislation designed to resuscitate the market for "securitisation" - one of the key causes of the financial crisis that began 10 years ago and that Europe has yet to fully recover from.

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EU Council CC BY-NC-ND 2.0

Eurogroup needs to follow through on commitments to Greece

Greece

"Greek people continue to suffer under largely harmful reforms and failure to agree on debt relief does nothing to improve the situation," says Greens/EFA MEP Sven Giegold.

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Images_of_Money | CC BY 2.0

European Parliament rejects Commission proposals for a second time

Money laundering

The European Parliament has today rejected for a second time a delegated act on third countries at high-risk of money laundering (1). The fourth Anti-Money Laundering Directive (AMLD), adopted in 2015, empowers the European Commission to identify high-risk third countries. The Commission now propose...

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