Financial Services
French parliament likely to miss key budget deadline
Lawmakers unlikely to have enough time to work through more than 2,400 amendments that still need to be discussed and voted on.
IMF support for Ukraine hinges on Russian assets loan, EU warns
ECB keeps interest rates unchanged as economy withstands trade shock
French lawmakers progress tax on American Big Tech amid huge pushback
EU’s conservatives hurtle toward reckoning over far-right taboo
Ombudsman probes Commission over red-tape-cutting chats with industry
EU plays hardball: If you won’t seize Russia’s cash, open your wallets
Moody’s cuts outlook on France as Lecornu struggles to pass budget
Moody’s decision not to lower France’s credit rating will be a relief for the government after downgrades by S&P and Fitch in recent weeks.
Moody’s says it will be ‘very challenging’ for France to rein in budget ahead of key verdict
Uncertainty looms over France’s ability to cut its debt, ratings agency’s chief credit officer tells POLITICO.
How Belgium’s De Wever derailed the EU’s ‘insane’ €140B Ukraine loan plan
Leaders pushed issue to next summit after failing to reassure Belgian prime minister that his country wouldn’t be on the hook.
A POLITICO bad boy? Me?! cries Belgian PM De Wever
The Brussels leader was aghast he’d been bracketed alongside Robert Fico and Viktor Orbán.
French lawmakers vote to hike tax on American tech giants
President Donald Trump has warned he would retaliate against any move that targets U.S. companies.
EU split over whether to let Ukraine use €140B loan to buy US weapons
France, Germany and Italy want Ukraine to use their potential mega-loan to buy EU-made weapons.
Slovakia lifts veto on latest Russia sanctions
The decision comes on the eve of a crucial meeting of European leaders that will seek to stress the EU’s support for Ukraine.
Parliament stalls EU’s first effort to simplify rules for business
Move sets up a clash with the European Commission and EU leaders, who are on a drive to roll back legislation quickly.
EU leaders demand even more simplification, setting tone for summit
Friedrich Merz, Emmanuel Macron and Giorgia Meloni all put their names on a call to slash additional business rules.
Macron publicly backs PM’s decision to freeze landmark pensions reform
But the French president still thinks the retirement age will need to rise eventually.
The EU’s mission impossible: Stopping young farmers giving up before they’ve even begun
Brussels wants to fix Europe’s aging farm problem, but its new plan may lack the cash to pull it off.
EU closes in on deal to use Russian frozen assets to fund Ukraine
Belgium will give the nod for the Commission to put forward a legal proposal outlining the €140 billion Ukraine loan.
France downgraded by S&P as budget uncertainty ‘remains elevated’
The ratings cut comes after French Prime Minister Sebastien Lecornu committed to suspend an unpopular law that raised the retirement age.
EU considers withholding funds from countries that don’t fix pension systems
Brussels fears Europe’s aging population will cause fiscal crises unless member countries address unsustainable retirement systems.
Brussels wants to grab another €25B from frozen Russian assets for Ukraine
The bloc already has its eyes on €140 billion in Moscow’s frozen assets, but the European Commission is tempted to take additional funds from private bank accounts.
Commission slaps down Fitto’s calls for a budget compromise
The EU executive has publicly rejected the Italian commissioner’s declared openness to “improvements” in regional funding in its next budget.
Germany’s Merz warns Europe risks becoming economic pawn of US, China
The chancellor is pushing the EU to undertake sweeping economic reforms as he comes under increasing political pressure at home to revive the stagnant German economy.
Weak global crypto rules put financial stability at risk, FSB warns
Because of the international, decentralized nature of financial technologies like crypto, gaps in global rules means providers can go wherever laws are the most lax, which “complicates oversight.”
Von der Leyen’s party threatens to reject EU budget proposal in November
European People’s Party warns that “rejection is unavoidable” if Commission doesn’t make concessions for farmers and mayors.
Italy seeks over €4B from banks as draft budget gains approval
Lenders and leaders have yet to decide on how the banks will be taxed, but those to Meloni’s right won’t let up.
Macron saves his government (for now) by suspending pension reform
The French president makes a desperate bid to save his fragile latest government.
EU fraud investigators raid Greek farm funds agency
Raid intensifies pressure on Athens to come up with action plan to clean up its handling of farm subsidy payments.