Cap for card payment fees – EUbusiness Week newsletter 691 – EUbusiness.com

EUbusiness Week 691 top stories: Greece hits German wall, but keeps anti-austerity agenda; EU raises eurozone outlook, confirms deflation; EU widens corporate tax breaks probe to Belgium; Norway signs up to EU greenhouse gas targets; Big business raises voice in British election campaign; Germany suspends minimum wage for transit truckers

Publisher’s Note

Parliament and Council have at last agreed a deal to cap inter-bank fees for card-based payments. The fees, about which consumers are often unaware, cost retailers and ultimately consumers tens of billions of euros every year.

The level of fees varies widely between Member States, and create barriers to the internal market. From 6 months after entry into force of the regulation, maximum fees of up to 0.3% of a transaction’s value will apply. Retailers and consumers will welcome the capping, which will reduce costs for both and help create an EU-wide payments market.
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Regards,

Nick Prag
Publisher, EUbusiness

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1. Greece hits German wall, but keeps anti-austerity agenda

Greece’s ambitious hard-left government on Thursday ran into trouble with Germany and the European Central Bank but vowed to push ahead with its electoral pledge to renegotiate the country’s unpopular bailout.
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ECB draws line in sand over Greece

2. EU raises eurozone outlook, confirms deflation

The EU has raised its growth forecast for the eurozone on the back of cheap oil and a weak euro, but warned that with deflation taking hold the bloc’s struggling economies must keep up their reforms.
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Eurozone deflation accelerates to record low

3. EU widens corporate tax breaks probe to Belgium

The EU opened an investigation on Tuesday into Belgium’s tax deals for multinational firms, widening a major probe into sweetheart tax arrangements for big business across Europe.
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4. Norway signs up to EU greenhouse gas targets

Norway has announced plans to cut greenhouse gas emissions by at least 40 per cent by 2030 as the oil-rich country aligns itself with targets set by the European Union.
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5. Big business raises voice in British election campaign

Big business is getting vocal ahead of Britain’s general election, raising concerns ranging from Labour’s economic plans to the referendum on EU membership promised by the Conservatives.
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6. Germany suspends minimum wage for transit truckers

Germany has slammed the brakes on applying its new minimum wage to foreign truck drivers transiting the country in a move welcomed by Poland which vigorously opposed the system.
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EUROPEAN LAW

Egypt: the EU has denounced as a violation of Egypt’s human rights obligations an Egyptian court’s confirmation of death sentences against 183 men convicted of killing 13 policemen.
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Belgium remands man found with chainsaw near EU Parliament
Latest news from the European Court of Justice
EU law firms
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Inside the EU Institutions

Council Watch

Greece: Greece’s radical new Prime Minister Alexis Tsipras said during a visit to Brussels he was hopeful of finding a solution to the debt stand-off between Athens and the EU.
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Eurogroup set to meet February 11 on Greece
EU must stop ‘spasmodic’ moves on Russia: minister
Barred Mugabe can travel to EU as AU head
Council …

Commission Watch

US trade: US and EU negotiators began their latest round of talks Monday seeking to push through the world’s biggest-ever free trade deal, which after nearly two years remain bogged down by public opposition.
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Juncker backs changing Greek debt ‘troika’
Intolerance, extremism on the rise across EU: Timmermans
Commission …

Parliament Watch

Greece: Parliament head Martin Schulz has urged Greece’s new prime minister to stop lambasting Chancellor Angela Merkel and her government, saying anti-German rhetoric was “shortsighted”.
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Germany’s anti-euro party agrees to slim down leadership
This week, political group leaders proposed a committee to look into tax rulings by Member States; the Budgets Committee urged EU budget funding reform, but not by adding to the burden on taxpayers; and MEPs amended rules to establish strong EU-wide standards on trials for children.
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EU diary

9-12 Feb: European Parliament plenary session
9 Feb: Foreign Affairs Council
10-11 Feb: Eastern Partnership Youth Forum
11 Feb: Webinar on digital tourism: Managing your online reputation
13 Feb: Implementation of new public procurement directives
The Week Ahead
Long-term diary