Financial Services
![Russian oligarch files $16B claim against Luxembourg over frozen assets](https://www.politico.eu/cdn-cgi/image/width=480,height=320,quality=80,onerror=redirect,format=auto/wp-content/uploads/2024/08/14/GettyImages-81585889-scaled.jpg)
Russian oligarch files $16B claim against Luxembourg over frozen assets
Mikhail Fridman was removed from the EU’s sanctions list after a legal challenge.
![Tusk names ally Piotr Serafin as Poland’s next EU commissioner pick](https://www.politico.eu/cdn-cgi/image/width=480,height=369,fit=crop,quality=80,onerror=redirect,format=auto/wp-content/uploads/2024/08/13/5296188-scaled-e1723551715954.jpg)
Tusk names ally Piotr Serafin as Poland’s next EU commissioner pick
![Houthi rebels and the EU make your coffee more expensive](https://www.politico.eu/cdn-cgi/image/width=480,height=320,quality=80,onerror=redirect,format=auto/wp-content/uploads/2024/08/12/iStock-1411630132.jpg)
Houthi rebels and the EU make your coffee more expensive
![Harris, Trump see votes in not taxing tips. Experts see trouble.](https://www.politico.eu/cdn-cgi/image/width=480,height=324,quality=80,onerror=redirect,format=auto/wp-content/uploads/2024/08/12/GettyImages-1242730865-scaled.jpg)
Harris, Trump see votes in not taxing tips. Experts see trouble.
![A killjoy’s guide to how the financial turmoil might screw up your life](https://www.politico.eu/cdn-cgi/image/width=480,height=320,quality=80,onerror=redirect,format=auto/wp-content/uploads/2024/08/09/GettyImages-2165431752-scaled.jpg)
A killjoy’s guide to how the financial turmoil might screw up your life
![Cypriot firm accused of profiting from EU potash sanctions against Belarus](https://www.politico.eu/cdn-cgi/image/width=480,height=327,quality=80,onerror=redirect,format=auto/wp-content/uploads/2024/08/09/GettyImages-183624810-scaled.jpg)
Cypriot firm accused of profiting from EU potash sanctions against Belarus
![Trump says presidents have the right to influence Fed policy](https://www.politico.eu/cdn-cgi/image/width=480,height=319,quality=80,onerror=redirect,format=auto/wp-content/uploads/2024/08/09/GettyImages-2165919812-scaled.jpg)
Trump says presidents have the right to influence Fed policy
Meet the man who could help Meloni build bridges with Europe
He’s the favorite to be Italy’s next EU commissioner. If he gets the job, it suggests Rome wants a new type of relationship with Brussels.
EU countries approve first €4.2B payment to Ukraine
The money, part of a €50 billion bundle of grants and loans, will help Ukraine rebuild.
Macedonian ministry employee arrested for mass-producing fake €2 coins
The arrest comes as Kosovo faces an epidemic of counterfeit euro coins.
Why the stock market is plunging — and what it means politically
The odds that the U.S. will fall into recession are still relatively low, particularly given that consumers continue to spend at a healthy clip. But the risks are mounting.
German coalition’s budget fight is back
The finance minister cast doubt on a draft budget agreement for 2025, renewing a conflict that threatens to subvert Chancellor Olaf Scholz’s government.
Global market rout may force central banks into early rate cuts
Analysts question whether the U.S. Fed has left it too late to begin cutting rates to save the economy from falling into a recession
Kyiv runs into strong opposition on tax hike to fund the war
The country wants to spend 500 billion hryvnia on the war, and needs to increase borrowing and taxes to do that.
EU prepares for COP29 showdown with China over climate aid
The EU’s draft position for the summit shows the bloc arguing that wealthy emerging economies must pay into a climate action fund.
Austria nominates Finance Minister Brunner as EU commissioner
He will have to compete against Irish and Dutch candidates for an economics portfolio.
Eurozone inflation surprisingly ticks up in July
‘Sticky‘ service prices set to test the ECB’s nerve in September.
Eurozone economy grows faster than expected in Q2
But stagflation in Germany means trouble for the ECB as it prepares for its next meeting.
Europe’s €10 trillion gamble
From Athens to Berlin, governments are coalescing around an idea to turbocharge the economy. If successful, it could be transformative ― but it’s a big if.
Is Brexit Britain about to turn into Switzerland — without the fondue?
As the U.K. and the EU enter a new era, their relationship is likely to gradually become more Swiss.
The 11 MEPs who actually matter
Here are the EU lawmakers to keep your eye on in the new term.
Trump bashes Harris over crypto, vows to boost bitcoin
Trump vows to establish a U.S. bitcoin stockpile, set up a crypto advisory council.
Yellen says $3T of fresh capital is needed annually to fight climate change
The Treasury secretary called the shift to a low-carbon global economy “the single greatest opportunity of the 21st century.”
EU finally sends €1.5B from Russian assets to Ukraine
Most of the funds will be used to buy weapons for Kyiv.
G20 countries agree on need to tax the super-rich — but later
Governments to start looking at question of tax on billionaires, according to statement seen by POLITICO.
Germany wants a Brexit mega deal
Berlin wants to expand the British prime minister’s proposed security pact into a broader EU-UK “reset.”
Hungary quietly takes €1B loan from Chinese banks
With public debt at a record high, Budapest is increasingly looking to Beijing for cash.
A call for clarity
Who will be the next European commissioners?
What we know so far about Ursula von der Leyen’s next top team.
Trump courting crypto industry could spell trouble for Europe
Trump’s about-turn on crypto-assets — and his pick of crypto-evangelist running mate JD Vance — resurfaces a nightmare scenario for EU policymakers.
France needs to cut over €100B so it doesn’t end up like Italy
Economists say country still in “control of its own destiny” but government must act fast.