Dear friends and all those who are interested, Especially in the Corona crisis, more and more sales transactions are taking place via digital platforms such as Amazon or EBAY. But digital platforms lead to mass tax evasion and unfair competition. This is precisely where the EU is now taking remedial action. In future, tax information […]
EIOPA report on insurance rules: Denial of reality regarding interest rates and government bonds continues
EIOPA has today published its opinion on the upcoming review of the European insurance rules called Solvency II. The European Commission is planning to propose amendments to the current regime in summer 2021 and had asked EIOPA for a broad assessment of the current framework. The rules have significant consequences for the stability of the […]
NPL Action Plan: Insufficient protection for borrowers and taxpayers
Today, on 16 December 2020, the European Commission has presented its new action plan on non-performing loans (NPLs). It is the Commission’s latest effort to deal with the elevated level of NPLs which have been plaguing banks in many member states ever since the European debt crisis. The new push comes ahead of a potentially […]
EU Rule of Law Mechanism: Von der Leyen’s behavior borders on institutional self-abandonment
European Commission President Ursula von der Leyen today commented in the European Parliament on the European Council’s unilateral declaration to postpone the application of the rule of law mechanism. In substance, the Commission President has stuck to the delay of the application of the rule of law mechanism, which she promised to the European Council. […]
ECB gives in to lobby demands: Banks may resume dividend despite massive public support
Yesterday evening, on 15 December 2020, the ECB decided to relax the dividend freeze that had been in place since March for the large European banks under its supervision. The ECB had previously recommended banks to refrain entirely from distributing profits and buying back shares during the crisis. Due to a lack of legal powers, […]
EU Drinking Water Directive: Clean water for the whole EU
The first successful European citizens’ initiative “Right2Water” for EU-wide access to clean drinking water becomes European law. Today (Tuesday, December 15), the President of the Parliament announced the European Parliament’s approval of the outcome of negotiations on the EU Drinking Water Directive (“Directive of the European Parliament and of the Council on the quality of […]