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The European Fund for Strategic Investments (EFSI) Regulation entered into force on 4 July 2015, aimed at providing the legal framework and budgetary allocations for the first two of the three strands of the Investment Plan for Europe. These are: (1) the mobilisation of at least €315 billion in additional investment over the coming three years (2015-2018); and (2) targeted initiatives to ensure that this extra investment meets the needs of the real economy. The Committee on Budgets (BUDG) and the ...

On 21 September 2016, the International Consortium of Investigative Journalists (ICIJ) published information on more than 175 000 companies, trusts and foundations registered in the Bahamas. The published data includes the names of directors and some owners of these entities. As with the 'Panama papers', these leaks may shine new light on the practices, policies and measures used by taxpayers and tax jurisdictions – as well as politicians, businesspeople and criminals – which render revenues and ...

The special committee on tax rulings and other measures similar in nature or effect (TAXE 2) adopted its report on 21 June 2016. The report is now on the agenda for the plenary on 4–7 July 2016, with a vote planned for 7 July.

Since 2015, the European Fund for Strategic Investments (EFSI) has triggered investments of €100 billion for close to 250 infrastructure and business projects, in 24 Member States. In the June plenary, the European Commission is to make a statement on its mid-term review of the Investment Plan to the European Parliament and may give consideration to further options.

A benchmark is an index (statistical measure), calculated from a representative set of underlying data, which is used as a reference for financial instruments or contracts. Well-known benchmarks include the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). The manipulation of those two benchmarks has sparked concerns about the integrity of benchmarks worldwide. The European Parliament is due to vote on the Commission's proposal for a regulation on indices used as ...

Several years after the Great Recession began, the euro area is still far from fully recovered. The international economic and financial crisis has pushed down investment levels within the EU by about 15% from their peak in 2007. Even though the near-term prospects seem brighter, high unemployment persists in many Member States. Some experts argue that the euro area, alongside Japan and the United States, is facing 'secular stagnation', a long-term economic stagnation characterised by a shrinking ...

The European Central Bank's (ECB) Annual Report 2014 was presented to the Committee on Economic and Monetary Affairs (ECON) of the European Parliament on 20 April 2015. The Committee's report on the Bank's report (rapporteur: Notis Marias, ECR, Greece) is expected to be voted in December 2015, and in plenary early in 2016. The ECB's report is composed of two chapters together with the annual accounts, a consolidated balance sheet of the Eurosystem as at 31 December 2014, and a series of annexes detailing ...

Conceived at the Bretton Woods conference in 1944, the International Monetary Fund (IMF) officially came into existence on 27 December 1945 and started operations in 1947. Its primary purpose is to ensure the stability of the international monetary system – the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The IMF has 188 member countries, all of which are represented in the highest decision-making body, the Board of Governors ...

In its November 2014 Investment Plan for Europe, the Commission announced the establishment of a new European Fund for Strategic Investments (EFSI), to bridge the EU investment gap. EFSI would be financed by an initial €21 billion: €16 billion from the EU budget in the form of a guarantee to the European Investment Bank (EIB), and €5 billion from the EIB’s own resources. Through a multiplier effect estimated at 15:1, a total of at least €315 billion would be mobilised in additional investment ...

A benchmark is an index (statistical measure), calculated from a representative set of underlying data, which is used as a reference for financial instruments or contracts. Well-known benchmarks include the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR). The manipulation of those two benchmarks has sparked concerns about the integrity of benchmarks worldwide. The European Parliament is due to vote on the Commission's proposal for a regulation on indices used as ...