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The European Parliament voted today to strengthen rules on tax transparency for multinational corporations, but included a significant loophole which could undermine the efforts to stop multinational corporations from hiding profits in tax havens. While ...

press
New EU aid plan risks handing billions to private companies at expense of the poorest, despite safeguards

Brussels, June 28 2017. Proposals to regulate a new multi-billion euro EU fund aimed at driving more private investment in development have just [June 28] been agreed by the European Parliament, Member States and the European Commission. But campaigners say although the proposed safeguards in the External Investment Plan are a step in the right direction, there is a risk that billions of euros of tax payers’ money will benefit big multinational corporations at the expense of the people in poverty ...
Brussels, June 12 2017. This evening [Monday June 12], two committees of the European Parliament voted on new tax transparency requirements for multinational corporations. While the outcome would strengthen the text proposed by the European Commission, ...

blog
European Parliament must tackle serious concerns following flawed workshop on private sector in development

Mathieu Vervynckt

13 Mar 2015 11:54:28

On 5 March, I attended a workshop organised by the European Parliament (EP) Committee on Development. It was part of the preparation process for a forthcoming report on the role of the private sector in fostering sustainable development that will be published ahead of the pivotal Financing for Development conference in Addis Ababa. Chaired by the report’s rapporteur, MEP Nirj Deva, and attended by Eurodad and many other civil society organisations (CSOs), the workshop had the potential to offer an opportunity for discussion about the benefits and challenges of engaging the private sector in development cooperation. However, in practice it turned out to be an opinionated discussion that looked mostly at the rewards of private finance, but turned a blind eye towards its problems. The workshop ...

blog
Major new report on private finance urges post-2015 focus on quality not quantity

Jesse Griffiths

10 Apr 2014 16:25:02

The European Parliament has just released a major report with a clear message for all those engaged in the growing debate about the role of external private finance in development: quality matters far more than quantity. As the post-2015 debate on financing development continues, and the UN gears up for a major Financing for Development conference in 2015 or 2016, this timely paper – authored by four experts* - gives clear recommendations on how European governments can ensure that fighting poverty stays at the heart of this agenda.  The current picture Firstly, here are the main findings of the report’s review of all available data on global private finance flows:Domestic private investment is significant and growing. Public and private investment, taken together, have grown ...

blog
Troika under scrutiny: European Parliament joins CSOs

Bodo Ellmers

29 Jan 2014 17:24:44

The times when the Troika of the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) could operate in the dark and on extralegal grounds seem almost over. The European Parliament just released its draft enquiry report on the role and operations of the Troika with regard to the euro area progamme countries. The report criticises the “generally weak accountability” of the Troika and the “lack of transparency” in negotiations with programme countries. The Parliament points out that there was no appropriate legal basis for setting up the Troika, and that the programme conditions did not pay respect to the Charter of Fundamental Rights of the European Union.  This report – welcomed by Eurodad - complements recent civil society initiatives to hold ...