France Accelerates Weapons Production to Support Ukraine
France has announced plans to expedite the production and delivery of essential military equipment to support Ukrainian forces
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The EU Council, bringing together Member State Ministers, said it had adopted changes yesterday to align the costs of cross-border euro payments between eurozone and non-eurozone countries and increase transparency in charges for currency conversion services.
Since 2002, the same charges for cross-border and national euro payments in the euro area have been applied, but cross-border payments in euro from non-eurozone countries are subject to high charges, the announcement noted. The changes will align the fees for cross-border euro payments for services such as credit transfers, card payments, or cash withdrawals with the fees for corresponding national payments of the same value in the national currency of the EU country where the payment service provider the user of these services. What do the changes for Bulgaria mean here?
Thanks to the measure, the benefits of cheap cross-border transfers in euros will cover another 150 million non-euro area users and additional 2.5 billion additional operations per year.
Transparency fees will also be introduced. When users make card payments or withdraw cash abroad, they have the option of choosing whether to pay in local currency or in their national currency. Under the new rules, users will be notified of applicable fees before making their choice.
This will be achieved by introducing a duty to disclose the charges applied as a percentage of all conversion fees to the most recent exchange rate of the European Central Bank. Most provisions will begin to apply from 15 December 2019, the communication states.
Most provisions will begin to apply from 15 December 2019.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
France has announced plans to expedite the production and delivery of essential military equipment to support Ukrainian forces
In a sobering assessment of the current geopolitical landscape, Polish Prime Minister Donald Tusk has sounded the alarm, cautioning that Europe is entering a "pre-war era"
The Czech Republic has revealed the dismantling of a vast network of Russian influence spanning across Europe, with Bulgaria among its targeted countries
The European Prosecutor's Office in Sofia has taken legal action against an individual suspected of fraudulent activities involving European subsidies, as announced by the Luxembourg-based institution
German arms manufacturer Rheinmetall has secured a substantial financial boost from the European Union, receiving over 130 million euros to enhance its ammunition production capabilities
Eurostat's recent publication on Wednesday showed insights into hourly labour costs across the European Union (EU) in 2023, indicating a notable rise compared to the previous year
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022