Brussels, 08/05/2014 (Agence Europe) - On Wednesday 7 May, Eurodad (European Network on Debt and Development), an umbrella group of 48 non-governmental organisations, strongly criticised Sweden's veto of the parent-subsidiary directive at the Ecofin Council on 6 May. On the Euractiv website, Tove Maria Ryding, Eurodad's tax coordinator, commented: “Governments have already taken a long time to discuss this issue, and now they are once again delaying action”. Sweden fears that, in its current form, the directive would cause problems for a type of investment company found in Sweden. At the Coreper talks on 30 April, the Commission tried to allay these concerns, which is says are unfounded (see EUROPE 11070). The Greek Presidency of the Council of the EU hoped agreement would be reached on the section of the directive dealing with hybrid loans, handing over to the Italian Presidency in July the job of continuing the negotiations on the remaining aspects, viz. a general anti-abuse clause. “Why didn't they bring this objection up sooner?” asked Ryding. After the Ecofin Council meeting, Taxation Commissioner Algirdas Semeta said he hoped agreement would be reached in June. (EL)