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EU Reporter
Customs Union: EU steps up its rules on cash controls to fight money laundering and terrorist financing
Published 10 seconds ago
New rules came into force on 3 June, which will improve the EU s system of controls of cash entering and leaving the EU. As part of the EU s efforts to tackle money laundering and to cut off sources of terrorist financing, all travellers entering or leaving EU territory are already obliged to complete a cash declaration when carrying €10,000 or more in currency, or its equivalent in other currencies, or other means of payment, such as travellers cheques, promissory notes, etc.
EU Reporter
Published 3 hours ago
Defending the rule of law: a matter of urgency
During a meeting of Parliament’s budget and budgetary control committees on 26 May, MEPs discussed the way forward with Gert Jan Koopman, Director-General of the Commission s budget department.
Koopman emphasised the sensitive nature of potential Commission assessments regarding the rule of law in EU countries: “Decisions taken will be subject to full judicial review by the [European] Court of Justice, he said. We need to get this right from the beginning. We simply cannot afford to make mistakes and bring cases that are annulled by the Court. This will be a disaster.”
The European Commission confirmed on Monday (31 May) that it will start borrowing the €800 billion needed to finance the recovery fund in June, after all member states gave their approval to the issuance of EU debt which is on an unprecedented scale.