This Week in Finance — Brussels (#14, 2026)
Commission holds technical meetings with incoming Hungarian Government; Council ECOFIN agrees rules against VAT fraud; BUDG committee adopts MFF interim report, presses for 10% budget increase; ECON report on reform of Regulation (EU) No 472/2013 finalised.
April 12, 2026 to April 18, 2026
Commission holds technical meetings with incoming Hungarian Government; Council ECOFIN agrees rules against VAT fraud; BUDG committee adopts MFF interim report, presses for 10% budget increase; ECON report on reform of Regulation (EU) No 472/2013 finalised.
📋 In This Week's Newsletter
• 📅 This Week's Calendar in Brussels
• 🇪🇺 European Commission
• 🤝 EU Council
• ✒️ EP Committee Work
• 📚 What We're Reading This Week
This Week's Calendar in Brussels
- Committee on Legal Affairs (JURI): On April 23, the European Parliament's Committee on Legal Affairs (JURI) is scheduled to meet. Agenda includes: * * *; Chair’s announcements; Coordinators’ meeting.
European Commission
Commission conducts technical meetings with incoming Hungarian Government on EU funds
A high-level European Commission delegation visited Budapest on 17-18 April 2026 for technical meetings with representatives of the incoming Hungarian Government. The meetings followed contacts between Commission President Ursula von der Leyen and Prime Minister-Designate Peter Magyar. The discussions focused on unlocking EU funds earmarked for Hungary, which remain frozen due to concerns over corruption and the rule of law. Both sides reiterated their commitment to resolving outstanding issues, with particular attention to reforms under the Recovery and Resilience Facility and conditionality linked to democratic standards. The Commission confirmed that this dialogue would continue as part of ongoing efforts to address budgetary and governance obstacles.
EU Council
ECOFIN agrees new rules to combat VAT fraud
The Economic and Financial Affairs Council (ECOFIN) on 5 May 2026 reached agreement on a package of new rules aimed at fighting value added tax (VAT) fraud across the European Union. Ministers also held a policy debate on the market integration and supervision package, which forms a core element of the EU's saving and investment union.
EP Committee Work
Budgets Committee adopts interim report on the 2028-2034 Multiannual Financial Framework
On 15 April 2026, the Committee on Budgets (BUDG) adopted its interim report on the proposal for the EU's Multiannual Financial Framework (MFF) for 2028-2034 (2025/0571R(APP)), with co-rapporteurs Siegfried Mureşan (EPP) and Carla Tavares (S&D). The committee considered amendments and proceeded to a vote confirming support for a 10% increase in the overall budget compared to the Commission's proposal. The report also addresses the structure of funding across EU priorities, the safeguarding of existing policies, and additional resources for areas such as competitiveness and defence. The next steps include a plenary vote and subsequent negotiations with the Council.
ECON Committee finalises legislative report amending Regulation (EU) No 472/2013 on economic and budgetary surveillance
On 17 April 2026, the Committee on Economic and Monetary Affairs (ECON) published its legislative report on the proposal to amend Regulation (EU) No 472/2013, which governs economic and budgetary surveillance of euro area Member States experiencing or threatened with serious financial difficulties (COM(2025)0593, 2025/0312(COD)). Rapporteurs Markus Ferber and Carla Tavares led the process. The amendments align the Regulation with the 2024 economic governance reform, introduce new provisions for surveillance of Member States receiving precautionary financial assistance, and clarify post-programme monitoring. The report incorporates recommendations from the European Court of Auditors and the European Central Bank, with the final committee vote recorded as 34 in favour, 8 against, and 4 abstentions.
ECON Committee releases report on alignment and simplification of EU economic governance framework
On 17 April 2026, the Committee on Economic and Monetary Affairs (ECON) issued its report on proposals to amend Regulations (EU) No 1173/2011 and (EU) No 473/2013. Rapporteur Markus Ferber reviewed measures to align these regulations with the reformed EU economic governance framework and to further simplify procedures. The report covers provisions on compliance, enforcement, and reporting for euro area Member States.
ECON Committee publishes draft report on the global role of the euro
On 15 April 2026, the ECON Committee made available its draft report on the global role of the euro. Rapporteur Rasmus Andresen examined policy challenges and opportunities for strengthening the euro's international position, referencing recent developments in global capital markets and the broader macroeconomic context.
CONT Committee issues draft opinion on the Single Market and Customs Programme 2028-2034
On 14 April 2026, the Committee on Budgetary Control (CONT) released its draft opinion, prepared by rapporteur Dick Erixon, on the Commission's proposal for the Single Market and Customs Programme for 2028-2034 (2025/0590(COD)). The opinion addresses governance, transparency, anti-fraud mechanisms, and provisions for evaluation and control within the consolidated programme, which merges several existing strands for the new period.
What We're Reading This Week
- EU Finance - The Future of Finance: EU policymakers advance digital finance initiatives, signaling major changes ahead for financial regulation, innovation, and cross-border transactions.
- FirstFT: Oil price surges ahead of Strait of Hormuz blockade: Oil markets rally as traders brace for potential supply disruptions from a looming Strait of Hormuz blockade.
