Tuesday

17th Oct 2017

Agenda

EU leaders discuss energy and tax next WEEK

  • Some member states rely on Gazprom for 80 to 100 percent of their gas consumption (Photo: Joffley)

Energy and tax policy are on next WEEK’s agenda as European leaders gather in Brussels for a summit on Wednesday (22 May).

Member states want to harvest an estimated €1 trillion lost every year to tax evasion.

Thank you for reading EUobserver!

Subscribe now for a 30 day free trial.

  1. €150 per year
  2. or €15 per month
  3. Cancel anytime

EUobserver is an independent, not-for-profit news organization that publishes daily news reports, analysis, and investigations from Brussels and the EU member states. We are an indispensable news source for anyone who wants to know what is going on in the EU.

We are mainly funded by advertising and subscription revenues. As advertising revenues are falling fast, we depend on subscription revenues to support our journalism.

For group, corporate or student subscriptions, please contact us. See also our full Terms of Use.

If you already have an account click here to login.

It is hoped the additional funds will help alleviate a social and economic crisis that has put millions out of work.

Among the proposed solutions to help fill the state coffers is the automatic information exchange of bank account details.

Austria and Luxembourg are temporarily exempt from the automatic exchange.

Both had expressed some openness to idea following German pressure, but then blocked an EU deal to increase tax transparency last week.

Luxembourg finance minister Luc Frieden and Austria's Maria Fekter said outstanding legal issues first need to be resolved. They also want the UK to tackle evasion in its offshore tax havens.

Green economic and finance spokesperson Sven Giegold described the Austria and Luxembourg resistance as “shameless obstructionism.”

Leaders at the summit are set to ply on the pressure on both countries to lift the exemption.

Energy is also up for discussion.

Leaders are expected to focus their attention on completing the internal energy market, boosting investment in energy infrastructure, and reducing high-energy prices.

The European Commission says energy import dependence has increased in last two decades and estimates the demand for oil and gas will increase by more than 80 percent by 2035.

Commission chief Jose Barroso said the fragmented EU energy market is driving up energy prices for both consumers and businesses. He said the internal energy market must be completed through existing legislation to bring down the costs and boost revenues.

“Our discussion [at the summit] should build on February 2011 conclusions and take our policy forward,” he said in a speech in early May.

Meanwhile, euro-deputies are in Strasbourg for their plenary session.

The MEPs on Tuesday will issue resolutions to urge member states to halve the €1 trillion in uncollected taxes by 2020.

Banking supervision is also on the plenary agenda on Tuesday.

The parliament says a final vote will be postponed until it can resolve accountability issues with European Central Bank.

A vote on a draft resolution on media freedoms and pluralism is scheduled on Tuesday. Deputies the same day will also approve the new dates of 22 to 25 May for the 2014 European elections.

On Wednesday, MEPs will debate the upcoming US-EU free trade agreement with EU trade commissioner Karel de Gucht.

The commission, for its part, is set to adopt on Thursday a proposal by EU transport commissioner Sim Kallas on maritime ports in Europe.

Digital commissioner Neelie Kroes is also set to present a strategy on micro-electronics and nanotechnology on Thursday.

Tax evasion on the agenda this WEEK

Tax havens and banking transparency top this week’s agenda as EU finance ministers meet to discuss the issue on Tuesday.

Brexit on EU summit table This Week

A key showdown on the state of Brexit talks, an ECJ ruling on Ukraine's Viktor Yanukovych, and Macron's proposals for the future of the EU, are all on the agenda this week.

Stakeholders' Highlights

  1. International Partnership for Human RightsEU Should Seek Concrete Commitments From Azerbaijan at Human Rights Dialogue
  2. European Jewish CongressEJC Calls for New Austrian Government to Exclude Extremist Freedom Party
  3. CES - Silicones EuropeIn Healthcare, Silicones Are the Frontrunner. And That's a Good Thing!
  4. EU2017EEEuropean Space Week 2017 in Tallinn from November 3-9. Register Now!
  5. European Entrepreneurs CEA-PMEMobiliseSME Exchange Programme Open Doors for 400 Companies Across Europe
  6. CECEE-Privacy Regulation – Hands off M2M Communication!
  7. ILGA-EuropeHealth4LGBTI: Reducing Health Inequalities Experienced by LGBTI People
  8. EU2017EEEHealth: A Tool for More Equal Health
  9. Mission of China to the EUChina-EU Tourism a Key Driver for Job Creation and Enhanced Competitiveness
  10. CECENon-Harmonised Homologation of Mobile Machinery Costs € 90 Million per Year
  11. ILGA-EuropeMass Detention of Azeri LGBTI People - the LGBTI Community Urgently Needs Your Support
  12. European Free AllianceCatalans Have Won the Right to Have an Independent State

Latest News

  1. Malta shocked after car bomb kills crusading journalist
  2. Spanish and Catalan leaders continue stand-off
  3. May pleads for more as EU makes Brexit gesture
  4. EU united in backing Iran deal, after Trump criticisms
  5. 'Think of the patients!' cry warring EMA-host cities
  6. In Iceland: Europe woos Arctic allies
  7. Austrian voters reject liberal pro-EU status quo
  8. Turkey urges EU not to break off ties