More than three years after the first transaction of our NextGenerationEU (NGEU) Green Bonds, the EU has issued more than €65 billion of NGEU Green Bonds, setting the EU on track to becoming the largest issuer of Green Bonds in the world.
The European Court of Auditors sounds an alert about the EU’s budget in 2023: The rate of error in EU budget spending is estimated at 5.6 % for 2023. COVID recovery mechanism is affected by systemic weaknesses and irregular payments. Growing debt places an increasing burden on EU finances. Get the details and read how the EU Commission and MEPs react.
The European Commission has today raised €11 billion of EU-Bonds in its 9th syndicated transaction for 2024. The dual-tranche transaction concerned a €5 billion tap of the EU-Bond maturing on 6 December 2027, and a €6 billion tap of the EU-Bond maturing on 4 October 2039.
These are the headlines of our weekly Insight EU Finance Monitoring, published last Friday night. We publish the headlines of our Insight EU Monitoring mails delayed by several days. To receive real-time monitoring emails, subscribe to our annual target group full-text services on the Insight EU Store page.
The European Commission has approved under the EU Merger Regulation the acquisition of joint control of Joyn International NV (‘Joyn’) by KBC Bank NV and BNP Paribas Fortis NV, all based in Belgium. The transaction mainly concerns the retail provision of digital loyalty cards.
The EU Ecofin Council today adopted the listing act, a legislative package that will make EU public capital markets more attractive for EU companies and facilitate the listing of companies of all sizes, including small and medium-sized enterprises (SMEs), on European stock exchanges. This marks the final step in the decision-making process.
At the EU Ecofin Council, EU Finance ministers discussed the implementation of the Recovery and Resilience Facility. They also debated the economic and financial impact of Russia’s aggression against Ukraine. The Council approved conclusions on climate finance and on the revision of the EU list of non-cooperative jurisdictions for tax purposes.
On Monday, MEPs restored €1.52 billion in funding cuts proposed by the EU Council, bringing allocations back to the levels originally suggested by the Commission. They also increased funding for programmes vital to address the impacts of Russia’s war against Ukraine, the need for green and digital transitions, and supporting economic recovery.
The EU Commission has launched its EU Repurchase Agreement (Repo) facility, today. This is a form of short-term issuance of EU securities available on-demand to EU primary dealers. The EU Commission wants further strengthen the role of EU bonds and, consequently, improve the overall efficiency and liquidity of the EU bonds market.
EU Ministers discussed the state of play of the digital euro project and euro area competitiveness, building on previous discussions, and reviewed progress on the capital markets union. The Eurogroup also reviewed economic and exchange rate developments ahead of the World Bank and IMF annual meetings. Eurogroup President Donohoe outlined the key points in his letter to the Euro Summit President ahead of the October Euro Summit.
In the second quarter of 2024, house prices in the EU increased by 1.9% and rents by 0.7% compared with the first quarter of 2024. Compared with the second quarter of 2023, house prices went up by 2.9%, while rents increased by 3.0%.
Portugal achieved a remarkable recovery from the successive shocks that hit the global economy since the pandemic. Growth exceeded the euro area (EA) average. Inflation decelerated fast. The fiscal position improved substantially, achieving a large surplus in 2023 and an impressive public debt reduction by 36 percentage points of GDP since 2020 to 99 percent of GDP. However, subdued productivity growth, population aging, and low investment remain key constraints to
“Futurists have dreamed of an autonomous, thinking machine throughout the modern era. Benjamin Franklin once lost a game of chess to such a machine, the ‘Mechanical Turk’; of course, there was a human chess master hidden inside. Nowadays, chess engines that beat the top players can run on your phone. So, what exactly makes these machines merit the label of ‘artificial intelligence’ ?” – U.S. Fed Governor Lisa D. Cook.
The EU Commission has approved the acquisition of Lombard International Assurance Holdings S.à.r.l., based in Luxembourg, by Utmost International Group Holdings Limited, based in the United Kingdom. The transaction mainly concerns the insurance sector, in particular the provision of wealth planning, inheritance, and succession solutions.
On Monday, EU Commission presented the interim evaluation of InvestEU, the EU flagship investment programme designed to facilitate better access to finance for companies across Europe in support of common priorities. So far, InvestEU has unlocked €218 billion in additional investments, with 90% of the EU guarantee allocated.
ESMA, the EU’s financial markets regulator and supervisor, has published its 2025 Annual Work Programme, which reaffirms ESMA’s strategic orientation and commitment to safeguarding resilient, transparent, and sustainable European financial markets.
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have appointed Marc Andries to lead their new joint Directorate in charge of oversight activities for critical third-party providers established by the Digital Operational Resilience Act (DORA).
Inflation, completing the capital markets and banking unions and the implications of the Draghi report on competitiveness featured prominently during the hearing of ECB President Lagarde.
“It is clear that the international dimension of this work will need to continue to be developed. The Task Force is called to play a major role in that respect by further facilitating the exchange of operational information, knowledge and best practices” – EU Commissioner Didier Reynders.
Reports from Russian media and businesses also indicate that several Chinese banks have ceased their cooperation with Russia due to concerns over US secondary sanctions.
These are the headlines of our weekly Insight EU Finance Monitoring, published last Friday night. We publish the headlines of our Insight EU Monitoring mails delayed by several days. To receive real-time monitoring emails, subscribe to our annual target group full-text services on the Insight EU Store page.
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