European Union foreign ministers have closed on an embargo on Iranian oil imports to the EU, which will go into effect on July 1st of this year. Now, the European Commission is seeking alternative oil supply sources. “I understand that the embargo only affects oil- thus European refiners will have to look for alternative oil…
Germany and France Support Financial Transaction Tax, Building Pressure for Britain
The Daily Telegraph recently revealed that France and Germany believe the financial transaction tax, proposed as a means to alleviate some of the region’s pressure, is in fact the first step towards the EU’s new power. The Franco-German paper that discusses the issue claims that “European institutions and member states should accelerate the process of…
Japan’s Concerns Heighten as France, Other EU Countries Downgraded
As Standard and Poor’s downgraded several EU countries, Jun Azumi, finance minister of Japan, voiced his growing concerns. “Unless Japan shows that we are swiftly securing stable financial conditions and rebuilding fiscal policies… it will be us next time,” he said. Azumi was not, in fact, the only person to express trepidation. Nine EU countries…
Eastern European News
Lithuania Propels into Fintech
Lithuania is fast gaining a reputation for being the most accelerated Fintech hub in all of Europe. It features year-on-year 40% growth in the area as well as a burgeoning talent base and quite unique regulatory route. This has rendered it Europe’s largest e-money license issuer. As such, large names are flocking to the area…
Business in Europe: Best Countries Report
Yesterday the European Chamber (EUCHAM) put out a report of “rank[ing] and analyz[ing] all 46 European countries according to their economic environment.” In brief, it was found that the list toppers were those from the Nordic regions (Denmark, Finland, Norway and Sweden). Next on the list was the UK. While in general the FSU countries…
