Latest news on economic and monetary affairs in the European Union.
Updated: 44 min 57 sec ago
The EU Commission sent a 'reasoned opinion' to the United Kingdom Monday on account of its failure to act against customs fraud relating to Chinese shoe imports and resulting losses to the EU Budget.
UK PM Theresa May was met by a frosty reception at an EU leaders summit in Salzburg and sterling was hit hard as a result.
EU countries lost almost EUR 150 billion in VAT revenues in 2016, of which EUR 50 bn went to the benefit of criminals, according to a new study published Friday by the European Commission.
EU countries lost almost €150 billion in Value-Added Tax (VAT) revenues in 2016, according to a new study published today by the European Commission.