BRUSSELS, Nov 12 (Reuters) – The new European Commission
president, Luxembourg’s Jean-Claude Juncker, took political
responsibility for his country’s tax practices on Wednesday,
saying he would fight tax evasion with more automatic exchange
of information between countries.
Juncker, 59, who was the tiny Grand Duchy’s finance minister
or prime minister for 24 years until the end of last year, has
avoided the media since a network of investigative journalists
reported last week that Luxembourg had granted sweetheart deals
to some 340 multinationals allowing them to avoid billions of
euros in tax.
PARIS/BRUSSELS (Reuters) – A senior aide defended European Commission President Jean-Claude Juncker on Monday against charges of having provided a haven for corporate tax avoidance in Luxembourg, saying the entire new EU executive was committed to stamping out tax evasion.
Juncker, 59, who was the tiny Grand Duchy’s finance minister from 1989 and prime minister in 1995-2013, has avoided the media since a network of investigative journalists reported last week that Luxembourg had granted sweetheart deals to some 340 multinationals allowing them to avoid billions of euros in tax.
BRUSSELS (Reuters) – Britain claimed victory on Friday in a budget battle with the European Union, saying it would pay only half of what Brussels had demanded, but EU officials said payment had merely been delayed and euro-sceptic critics accused ministers of deception.
“We have halved the bill, we have delayed the bill, we will pay no interest on the bill,” Britain’s finance minister, George Osborne, said as he left a meeting with his EU peers.
BRUSSELS (Reuters) – EU finance ministers will tell Britain on Friday that the only way to resolve a row over a surprise budget bill to Brussels is to pay in interest-free installments, officials said, but Britain’s finance minister insisted the bill was “unacceptable”.
Italy, which holds the EU’s rotating presidency, will present the installment compromise at a ministerial meeting in Brussels, seeking to give British Prime Minister David Cameron a way to save face over the 2.1-billion euro ($2.6-billion) bill.
BRUSSELS, Nov 6 (Reuters) – The EU’s new financial services
chief will set out his plans for a pan-European capital market
by the middle of next year, aiming to reduce companies’ reliance
on banks and help revive the bloc’s fragile economy.
Jonathan Hill, the European Commissioner for financial
services, said on Thursday he was seeking to create an
integrated capital market over the next five years and would
develop a plan by next summer following a consultation of banks,
lawmakers and non-governmental organisations (NGOs).
BRUSSELS (Reuters) – EU finance ministers are likely to let Britain pay a hefty new bill to Brussels in interest-free instalments, but rule out any reduction in the surcharge, triggered by historic revisions to national income data, officials told Reuters on Wednesday.
The row over the 2.1 billion euro (1.6 billion pounds) demand for payment with little more than a month’s notice has put British Prime Minister David Cameron under pressure from Eurosceptics at home in the run-up to a national election in May.
BRUSSELS, Nov 4 (Reuters) – The fragile euro zone will need
another year to reach even a modest level of economic growth,
the European Commission said on Tuesday, revising down its
forecasts and predicting more of the low inflation and high
joblessness that plagues the bloc.
In its autumn estimates, the EU executive said the euro
zone’s economy would expand 0.8 percent this year, 1.1 percent
next year and by 1.7 percent in 2016 – a level the Commission
said six months ago would be achieved next year. The delay in
the upturn was due to drag on the economy from France and Italy.