Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

EU to kick off pandemic plan with 10 billion euro bond issue -French minister

EU to kick off pandemic plan with 10 billion euro bond issue -French minister

PARIS (Reuters) -The European Union plans to kick off its 750 billion euro ($917 billion) pandemic recovery package with an initial 10 billion euro bond issue, France’s junior minister for European affairs, Clement Beaune, said on Monday.

In an interview with French financial daily Les Echos, Beaune also said that more than 100 billion euros would be injected into the European economy from this year.

Beaune said the European Commission would launch the debt issuance process on June 1 by calling on big European and international banks, and the securities would be issued in June.

“The market appetite should be very major and the interest rates very favourable,” he told Les Echos.

Asked whether the new bonds would be called corona-bonds, he said “let’s avoid this radioactive term”, and added that with the recovery package an embryonic European Union treasury was taking shape.

Proceeds of the issue would be spent from July onwards and by the end of the year Europe will inject more than 100 billion euros into its economy to finance the recovery of its member states, he said.

Asked about a G7 initiative for a minimum corporate tax rate of 15%, he said that within the European Union, Ireland was the most hostile to the principle of a minimum tax and taxation of internet companies, and to a lesser degree Cyprus and Malta.

He added that the Netherlands was not opposed to the principle but will be demanding about its implementation.

“The European Union is blocked because of the unanimity rule. When there is a legal blockage, we need a political battle … given the U.S. position and the global agreement that we hope for in July, this will put a lot of political pressure on the reticent member states,” he said.

(Reporting by GV De Clercq; Editing by Giles Elgood, David Gregorio and Cynthia Osterman)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post