ECONOMY - FINANCE - BUSINESS / (ae) finance

Not enough transparency on cash payments to non-EU mining industry

Brussels, 04/05/2012 (Agence Europe) - On Thursday 3 May, EU member states' representatives to the European Union (sherpas) reached broad agreement on updating the EU accounting directives (see EUROPE 10463). As became clear at the Competitiveness Council in February 2012, the member states want greater openness about the payments made by European companies involved in mining and logging that are quoted on the stock exchange to countries outside the EU.

Under the compromise, companies will...