
Greece's creditors trade barbs over debt relief
Debt relief measures were suspended under German pressure, and the EU commission and the IMF are left blaming each other.
Thursday
22nd Dec 2016

Debt relief measures were suspended under German pressure, and the EU commission and the IMF are left blaming each other.

The suspension of Greek debt relief measures was triggered by those among Greece's creditors who want it to fail, but they will lose their bets.

Cyprus, Ireland, Luxembourg and the Netherlands are among the 15 worst centres for corporate tax avoidance in the world, according to report by Oxfam.
EU citizens working away from their home countries will face tougher hurdles if they need to claim benefits, under plans from the commission.
After two years of stalled talks, member states decided to keep the current rules on tariffs but to suspend them in case of “state-induced” distortions in raw material and energy.
The complexity of financial laws and lack of NGO resources means the “man in the street” has little say on EU banking regulation, the EU Commission has warned.

Greece's creditor institutions said that a Christmas bonus for pensioners was not in line with bailout terms agreed last week.

Plans to rent harbour facilities to Russia's Nord Stream 2 pipeline project on the Swedish island of Gotland have split local political parties on strategic issues.

A German-led group of EU states is trying to block plans for greater tax transparency, amid the restart of an iconic whistleblower case.

The eurozone bank will prolong its quantitative easing scheme after March but will buy €60 billion of public and corporate bonds each month instead of €80 billion.
A planned rescue scheme for the Monte dei Paschi di Siena bank fell through after Matteo Renzi said he would quit as prime minister.
The agreement to prolong the EU investment plan until 2020 to raise up to €500 billion will have to be confirmed by the parliament amid questions about its impact and functionning.
Measures to reduce the cost of Greek debt will be implemented immediately, but eurozone finance ministers said more action will have to be taken for a new agreement on the bailout programme.
The Italian PM's resignation after a failed constitutional referendum has not changed the situation, the Eurogroup president has said. Financial markets have remained stable.
The Commission wants to focus on "vulnerable consumers" but concedes that there will be differences in needs across the bloc.
The commission wants to focus on the commercial potential of space rather than the educational or scientific benefits, much to the annoyance of some MEPs.
The EU executive says that several evaluations strengthen the case to extend the length and funding of the plan, despite a lack of impact assessment.
The EU aircraft maker wants Europe and the US to agree on their subsidy policies for Airbus and Boeing after the WTO ruled that both companies benefited from illegal tax breaks.
Britain’s decision to exit the EU is to prompt €69 billion of extra borrowing, a UK watchdog has said, leaving poorer families less well off.

Finance ministers from the main eurozone countries will meet IMF negotiators on Friday as Greece warns of new delays in the bailout programme.

Questions of value for money and a lack of transparency complicate adding almost €200 billion more and extending the Juncker investment plan to 2020.
After a "demanding marathon" of talks, member states and MEPs agreed a budget for next year they hope will provide a "buffer" against any shocks to the system.
A European Commission proposal on anti-dumping clears the way for the EU to abide by international obligations and avoid a trade war that would be dangerously counterproductive.

US economist Joseph Stiglitz called on the EU to take a leading role in the fight against tax evasion, calling the next US leader, Donald Trump a "tax avoider or even evader-in-chief".

Italy, Portugal, and Spain are unlikely to face sanctions for breaking EU budget rules, the European Commission has said, in what it described as a “political” decision by a kind of “common finance ministry”.
Trade ministers send a discussion on the level of import duties back to diplomats, also admitting that TTIP talks with the US are "in the freezer".
MEP Dance says new data by EUobserver showed car manufacturers are “shopping around” when acquiring the required certification.

Trade ministers will try to agree on measures to protect EU industries and discuss their policies after Ceta and Donald Trump's election.

The US firm says its Android operating system has boosted competition in application development rather than stifling it.
Plans to develop ecodesign are good news, but we need to move much faster towards a circular economy, and apply them to a much wider range of everyday products.
The European Commission presented a new system to assess dumping from countries with strong state intervention. The main target is China.