Happy Holidays from President and Mrs. Obama

 

Season's greetings and gratitude from President and Mrs. Obama.

ⓒ 2021 Obama Foundation ΔΕΙΤΕ ΤΟ ΒΙΝΤΕΟ!!

Eurogroup statement on Greece of 6 December 2021

 

Press material Monday 6 December 2021

● Eurogroup   06/12/2021 18:20 | Press release | Eurogroup statement on Greece of 6 December 2021   The Eurogroup discussed Greece’s progress with reform implementation and its macro-economic outlook, on the basis of the twelfth enhanced surveillance report published on 24 November. After a sharp contraction of economic activity in 2020, the Commission’s autumn forecast shows a substantial economic recovery in Greece this year and in 2022 and 2023. The timely, targeted and temporary support measures taken by the Greek authorities have cushioned the effect of the pandemic on businesses and workers. The authorities’ efforts have been supported by the new EU instruments, such as NGEU and SURE, established in the wake of the pandemic with the aim to mitigate its effects and support economic recovery. The implementation of the reforms and investments of Greece’s Recovery and Resilience Plan is expected to provide a substantial growth impulse and should provide a basis to consolidate efforts towards the green and digital transition. We welcome the further policy reforms that have been achieved in the challenging circumstances of the Covid-19 pandemic and the catastrophic fires in August 2021. In particular, we welcome the fulfilment of the specific commitment in the area of public financial management establishing the chart of accounts for the central administration and the adoption of anti-trust remedies in the energy sector, which completes the commitments made for this sector. Moreover, good progress has been achieved in the simplification of investment licensing, privatization and governance of state-owned enterprises, social welfare and public administration. The uncertainty entailed by the pandemic continues to be present and underscores the need to continue tackling decisively the existing medium-term risks and challenges identified in the 12th enhanced surveillance report. We encourage the Greek authorities to continue and advance their efforts with regard to financial sector reform and clearance of arrears. We also note some delays in the areas of justice and health, and we call upon the authorities to accelerate progress to deliver on commitments in these areas. These issues will continue to be monitored in the context of enhanced surveillance. Against this background, the Eurogroup welcomes the assessment by the European institutions that, despite the challenging circumstances caused by the pandemic, Greece has taken the necessary actions to achieve its specific reform commitments, and that the necessary conditions are in place to confirm the release of the sixth tranche of policy-contingent debt measures. Subject to the completion of national procedures, the Eurogroup Working Group and the Board of Directors of the European Financial Stability Facility (EFSF) are expected to approve the transfer of SMP-ANFA income equivalent amounts and the reduction to zero of the step-up interest margin on certain EFSF loans. We look forward to the 13th enhanced surveillance report, which is expected to be published in February 2022. The Eurogroup was informed that Greece is considering an early repayment of the remaining amount of its outstanding IMF loan, as well as a partial prepayment of its loans under the Greek Loan Facility (GLF) that would correspond to the principal payments due in 2022 and 2023 under the GLF, with a view to having a positive impact on Greece’s public finances.

COUNCIL OF THE EUROPEAN UNION,EUROGROUP...update

 

Press material Tuesday 7 December 2021

● Council of the EU   07/12/2021 11:36 | Press release | Council reaches agreement on updated rules for VAT rates   The Council today reached agreement on a proposal to update EU rules on rates of value added tax (VAT). The new rules reflect member states’ current needs and the EU's present policy objectives, which have changed considerably since the old rules were put in place. The updates ensure member states are treated equally and give them more flexibility to apply reduced and zero VAT rates. The rules will also phase out preferential treatments for environmentally harmful goods. Council of the EU Press release 7 December 2021 11:30 Council reaches agreement on updated rules for VAT rates The Council today reached agreement on a proposal to update EU rules on rates of value added tax (VAT). The new rules reflect member states’ current needs and the EU's present policy objectives, which have changed considerably since the old rules were put in place. The updates ensure member states are treated equally and give them more flexibility to apply reduced and zero VAT rates. The rules will also phase out preferential treatments for environmentally harmful goods. Today, we agreed on the proposal for a Council directive on rates of value added tax. This file has been discussed in the Council for a long while, and I’m glad that we have found a way to bring it to conclusion.Andrej Šircelj, Slovenian Minister for Finance The Council updated and modernised the list of goods and services for which reduced VAT rates are allowed (Annex III of the VAT directive), taking into account the digital transformation of the economy. The update of the list was driven by a number of principles, such as the benefit of the final consumer and the general interest. However, to prevent a proliferation of reduced rates, the Council decided to limit the number of items to which reduced rates could be applied. The Council also decided to ensure that all member states are treated equally. To achieve this, existing derogations that allowed some member states to apply preferential rates for certain products were opened to all member states, provided that they are compatible with the agreed principles. A new provision in the VAT directive was also added to address possible future crises and to enable member states to respond swiftly to exceptional circumstances, like pandemics, humanitarian crises or natural disasters. The Council agreed to phase out reduced VAT rates or exemptions on fossil fuels and other goods with a similar impact on greenhouse gas emissions, by 1 January 2030. Reduced rates and exemptions for chemical fertilizers and chemical pesticides will end by 1 January 2032, to give small-scale farmers more time to adapt. In addition, the Council introduced environmentally-friendly goods and services in the list for which reduced rates are allowed, such as solar panels, electric bicycles and waste recycling services. Background and next steps The Commission issued its proposal to amend a Council directive on the common system of value added tax as regards rates of value added tax on 18 January 2018. Once the Parliament has issued its opinion on the proposal, the Council will formally adopt the directive. Council general approach on proposal to update rates of value added tax Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC as regards rates of value added taxVisit the meeting page ● Council of the EU   06/12/2021 20:50 | Press release | EU to designate 2022 as the European Year of Youth   The Council and the European Parliament wish to honour young people by making 2022 the European Year of Youth. Today, both institutions provisionally agreed on a decision to follow through on this proposal.