Budgetary challenges within EU member states have focused attention on the sustainability of the European Stability and Growth Pact, according to a report by Standard & Poor’s. ‘Devolution of taxation responsibilities to sub-national governments in a number of member states, and the existing political and taxation autonomy of some sub-national governments in others, may hamper the ability of member states to meet their obligations under the pact,’ said Myriam Fernández de Heredia, a credit analyst with Standard & Poor’s. Portugal, Germany and France have been subjected to the European Commission’s excessive deficit procedure, the report noted. Devolution of tax and responsibilities has generally been less pronounced on the revenue side, thereby widening budgetary gaps, noted de Heredia. In some cases, notably Denmark, however, where devolution has been more pronounced on the revenue side, the central or federal government has reclaimed taxation control to reduce tax burdens, said Standard & Poor’s.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more