These proposals, presented on December 22, 2021, have their respective origins in the work of the OECD and G20, for the implementation of a global minimum tax rate (known as Pillar 2) and in the communication on business taxation for the 21st century (revision of the ATAD Directive to include measures to counter shell companies).
The European Parliament gave its support to the pharmaceutical strategy for Europe, by resolution on November 24, 2021. Two main driving forces behind this strategy, adopted by the European Commission on November 25, 2020, are to support industry in promoting research and to address certain market failures. The aim is to create a regulatory framework for the future.
Garrigues is the highest earning law firm in the European Union, according to the Euro 100 ranking, which is published every year in the British publication The Lawyer. The report analyzes the growth of the highest-billing firms in the European continent. Garrigues again leads the list, with overall revenue of 386.9 million euros.
The European Central Bank (ECB) plans to announce shortly whether it will launch a design and creation project for a digital euro, something which, as the institution itself has said, would have an immense impact. We need to know therefore what the digital euro would be legally and what implications it could have for many parties in the financial system and in particular for banks and other financial institutions.
This edition of the European Employment Law Update is perhaps one of the most innovative editions that have been published in recent years. In fact, some of the regulations analyzed in this guide seemed impossible to apply just a few years ago.
English law, courts and lawyers are a popular option for business transactions in the EU. Brexit could possibly change that, not so much because of obstacles to a valid choice of English law or the enforceability of judgements rendered by English courts but because the UK is now outside the many procedures for judicial cooperation within the EU (summoning, taking of evidence and other forms of judicial cooperation) which are vital for effective cross-border litigation.
Keeping our legal sight on the obstacles or difficulties for cross-border mergers which we started looking at in the previous article in this series, we cannot overlook that the laws of every state retain their own peculiar characteristics, a few of which are deep rooted although little known beyond their borders, which may place boulders in the path that are hard or impossible to move round.
Las fusiones bancarias transfronterizas han vuelto a estar de actualidad en la Unión Europea, animadas por los propios supervisores. En este tercer y último artículo de la serie analizamos el régimen de autorizaciones, el carácter probablemente imparable del proceso y alguna posible sugerencia para avanzar hacia una fusión, aunque por etapas.
There has been much talk about cross-border bank mergers in Europe, but so far none have happened or appear to be imminent. A few years ago Garrigues recommended that banks watch out for them in the future. Now the European supervisors are calling for them to be carried out and even trying to make them easier. But for the time being the bank concentration process is still taking place within each member state. This is currently being seen in Italy, with the acquisition of UBI Banca by Intesa Sanpaolo, and in Spain, with the merger of Caixabank and Bankia. It is not happening across borders. In this series of three articles we will try to identify and reflect on a number of legal factors that may partly explain this situation.