EU Economy and Finance

Great news: The European Commission and the Bulgarian Development Bank signed new #InvestEU guarantee agreement worth €40 million to support Bulgarian SMEs with investments over €1.2 billion. The InvestEU programme aims to mobilise more than €372 billion in additional investment across Europe over the period 2021-27 for European Union policy priorities. 💡 Find out more: https://lnkd.in/e3YTYuGh

This week we have raised €9 billion of #EUBonds on the financial markets!   🗓️ The dual-tranche transaction, the first under the Commission’s EUR 65 billion funding plan for H2 2024, involved a new €5 billion bond due on 5 October 2029, and a €4 billion tap of the EU-Bond maturing on 5 October 2054.   EU bonds were oversubscribed approximately 13-times and 20-times, respectively 📈.   The strong response is reflective of the deep support the EU enjoys from the global investor community 💶 and is testament to the ongoing commitment to investor engagement and the transparency and consistency with which the EU undertakes its funding task.   Proceeds from EU Bonds finance EU policy programmes, most notably in the context of NextGenerationEU, support to Ukraine (through the Ukraine Facility) and other programmes, increasing Europe’s and our Neighbourhood’s resiliency and the green 🌱 and digital transition 📲   EU-bonds are also strengthening the role of the Euro as a global currency. Diversification equals de-risking.   EU-Bonds help Europe get fit for the future! 🚀   Read more: shorturl.at/veVJA

Save the date – 26 September 2024 📅 The European Commission is hosting a roundtable event on scaling up in the investment funds sector as well as consolidation in trading and post-trading infrastructure. The aim of the event is to exchange ideas about the recently strengthened political focus on consolidation across various market segments, looking at its potential upsides, downsides and regulatory constraints, against the background of the objectives on the Capital Markets Union project and EU competitiveness.    Registrations are open until 15 September.  More information: https://lnkd.in/eFm2PzP2

The European Commission's #BEFIT proposal could reduce current tax compliance costs for businesses by up to 65 % with a single set of rules. 📈   Expand your knowledge of how these regulations would simplify the corporate tax system, making life easier for large businesses in the EU.   Watch the new video from our webinar and learn more here ⬇   https://europa.eu/!gmk8RF

🚀   The European Investment Fund (EIF) has teamed up with 3 leading Baltic banks – LHV Bank, SEB and Swedbank – to unleash over €720 million in new financing across Estonia, Latvia and Lithuania.   Key highlights: 🔹 EIF guarantees to support businesses, individuals, and housing associations. 🔹 More than 50% of the financing dedicated to sustainable investments. 🔹 Agreements will lead to improved loan terms, including lower interest rates. 🔹 Supported by the InvestEU programme.   These guarantee agreements, signed today in Tallinn, will drive lending for projects that promote climate protection and environmental sustainability in the region. 🌍🌱   Together, we’re paving the way for a greener and more sustainable future in the Baltic states! 💪   #EIF #InvestEU #BalticBanks #Sustainability #ClimateAction #GreenFinance #LHV #SEB #Swedbank ▶ Read more: https://lnkd.in/eqSQ-pS5

On 18 June, the European Commission and the European Central Bank (ECB) hosted their annual joint high-level conference on European financial integration. This year’s edition focused on how to further strengthen the Capital Markets Union (CMU).  Commissioner Mairead McGuinness opened the conference with a keynote speech, in which she stressed the need to remain ambitious about CMU. The costs of not acting are significant and words now need to be matched with strong action, the Commissioner argued.  Later on, DG FISMA’s Director for General Affairs Paulina Dejmek Hack presented the Commission’s 2024 European Financial Stability and Integration Review. Some takeaways:  ➡️Financial stability risks surged in March 2023 in the context of the US and Swiss banking turmoils but receded by the end of the year.   ➡️Overall, the financial system has been coping well with the normalisation of interest rates.  ➡️EU financial integration stabilised in 2023, despite some market segments becoming more fragmented.   Two panels then explored the consolidation of European stock markets and the possibility of single financial markets supervision in the EU, highlighting possible approaches and benefits. European Investment Bank President Nadia Calviño and ECB Vice-President Luis de Guindos also spoke at the event.  🎥 In case you missed the conference, you can watch a recording here: https://europa.eu/!d9X8Bv 📖 If you would like to take a look at the European Commission’s European Financial Stability and Integration Review here, you can find it here: https://lnkd.in/e3ezkZfg  

♻️ #SustainableFinanceEU policies and #InvestEU instruments support sustainable investments and the green transition in the EU. 🇪🇺 Are you a financial intermediary, SME, or a business support organisation? Learn📚 about #SustainableFinanceEU, #InvestEU, #InvestGreenEU, #GreenGateway, #EIBAdvisory, and #EENCanHelp at our event in Warsaw on 19 September! Register here to join physically or watch online👇 https://lnkd.in/e75rn97M #EUSustainableFinanceDays

📣 Exciting opportunity!   The European Commission is renewing the mandate of the "Platform for Tax Good Governance"!   We're looking for organisations representing business, civil society, academia and tax practitioners to join this expert group.   If you want to contribute your views on shaping and implementing tax policies and take part in interesting discussions on topical tax themes, this is your chance!   The details of the call for applications are available here: https://lnkd.in/eZ4iNHNt   !!!DEADLINE: 08/07!!!    #TaxGoodGovernance #ExpertGroup

The European Commission welcomes the Council of the European Union's adoption of new set of sanctions against Belarus, in view of its involvement in Russia's illegal war of aggression against Ukraine. The measures affect various sectors of the Belarusian economy and fight circumvention. Find out more ↓ https://lnkd.in/ebWM-YR2

📢 To all #SMEs: If you want to expand or are already operating across the internal market, you need to navigate 27 different tax regimes.     The new Head Office Taxation proposal offers a significant incentive by reducing tax compliance burdens. This would encourage SMEs to make cross-border investments in the single market much more easily.     Hear more from @Gerhard Huemer, Director for Fiscal Policy at @SMEunited👇 We recently organized a webinar with @BenjaminAngel, which can be watched here: europa.eu/!7T6TMX