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Annual Growth Survey 2016: Strengthening the recovery and fostering convergence
November 26, 2015--Annual Growth Survey starts the 2016 European Semester
Today's package launches the annual cycle of economic governance. It sets out general economic and social priorities for the EU and gives Member States policy guidance for the following year.
Policy challenges vary across countries, so responses will also vary. However, there are overarching themes that affect the EU as a whole. To strengthen the recovery and foster convergence, the Commission recommends building on the three main pillars identified last year for the EU's economic and social policy: re-launching investment, pursuing structural reforms and responsible fiscal policies.
The EU's economic governance explained
November 26, 2015--An explanation of the EU's economic governance
The economic and financial crisis revealed weaknesses in the EU's economic governance. The EU responded by taking a wide range of measures to strengthen its governance and to facilitate a return to sustainable economic growth, job creation, financial stability and sound public finances.
Central pillars of these efforts are: the legislative packages to strengthen the Stability and Growth Pact known as the "Six Pack" and "Two Pack", and the Intergovernmental Agreement (IGA) known as the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union. All EU Member States except the UK, the Czech Republic and Croatia have now signed this Treaty. The "Six Pack" strengthened the Stability and Growth Pact and also introduced a new macroeconomic surveillance tool: the Macroeconomic Imbalance Procedure.
Financial benchmarks: Commission welcomes agreement on new rules to prevent manipulation
November 25, 2015--The European Commission welcomes last night's agreement between the European Parliament and the Council of the EU on a Regulation of financial benchmarks.
The new rules were first proposed by the Commission in September 2013 in the wake of the alleged manipulation of various benchmarks which were to the clear detriment of consumers and companies throughout the EU. Following last night's preliminary political agreement, the EU is setting a leading standard globally.
EU Transaction Tax Falters as Austria-Imposed Deadline Nears
November 25, 2015--Participating nations haven't decided what trades to tax
Open questions include how to treat pensions, document says
A proposed European financial-transactions tax is foundering as 11 participating nations try to meet a December deadline to decide how to charge levies on an array of financial products.
ISE reduces clearing fees in the Irish market by 50%
November 24, 2015--The ISE has announced a 50% reduction in clearing fees for order book trades in Irish equities and ETFs, effective 3 December 2014.
The reduced fee level will benefit trading member firms and investors by significantly decreasing clearing costs for executions on the ISE Xetra order book said Brian Healy, Director, Traded Markets, Development, Operations.
