Bank cards fees for European merchants and consumers have decreased over the past years thanks to the new EU rules, generating savings of up to €2 billion annually, according to a European Commission report published this week. The Interchange Fees Regulation entered into force in 2015 to cap the transaction fees that the merchant’s bank must pay when a customer uses their bank card. These interchange fees are paid to the card-issuing bank to cover issues such as handling costs or the risk of fraud. The Commission assessed the impact of…
Read MoreDay: July 4, 2020
Nobody knows the details of the Berlin €4bn coal phase-out deal with energy companies
German energy companies LEAG and RWE are set to receive over €4 billion for closing their lignite-fired power plants. But nobody knows how the compensation was calculated and the German economy ministry refuses to provide details, citing procedural matters. A shadow hangs over Germany’s coal phase-out law, which is due to be voted in the German Bundestag on Friday (3 July). Just a few hours before MPs are supposed to vote on the bill, the Higher Administrative Court of Berlin-Brandenburg rejected yesterday (2 July) an urgent motion tabled by green…
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