Economic and Financial Affairs Council, 12 July 2016

A meeting of the Economic and Financial Affairs Council was held on 12 July 2016. The agenda included the following topics:

+ Presentation of the work programme of the Slovak presidency of the Council of the European Union relating to economic and financial affairs;

+ Adoption of conclusions regarding the budgetary situation in Spain and Portugal on the basis of possible recommendations by the European Commission relating to the excessive deficit procedure in these countries;

+ Presentation by the European Commission on a proposal to amend the Directive on the prevention of money laundering and terrorist financing;

+ Adoption of recommendations to member states, following their endorsement by the European Council in June; this brings the 2016 European Semester cycle to an end;

+ Exchange of views following the Commission's presentation of a communication on further measures to enhance transparency and the prevention of tax evasion and tax avoidance;

+ Formal adoption of the anti tax avoidance directive, containing rules against corporate tax avoidance;

+ Exchange of views on the Investment plan for Europe, the state of play in the implementation of the banking union legislation, conclusions on Basel Commitee's banking sector reform agenda and preparation of the forthcoming G20 meeting.

ESO: Background information: Economic and Financial Affairs Council, 17 June 2016 http://www.europeansources.info/record/economic-and-financial-affairs-council-17-june-2016/

European Commission: DG Communication: RAPID: SPEECH/16/2502, 12.07.16: Remarks by Vice-President Dombrovskis at the Ecofin Council press conference http://europa.eu/rapid/press-release_SPEECH-16-2502_en.htm

---