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The European Union’s suggestion today of global public financing worth €22-€50 billion per year for developing countries to tackle climate change falls short of what is needed.

As poor countries face the full impact of the economic crisis, European governments are falling short by nearly €40bn (USD$55m) on their aid promises and will not meet their 2010 aid target until 2012, a new report from CONCORD reveals.

If Europe were to rule out its support of biofuels by 2020, the region could lower its net imports of grain and oilseeds by up to 27 million tons, remarkably reducing its dependence on foreign goods. Global food prices could also drop significantly.

European leaders failed today to meet the expectations they had raised of cracking down on tax dodging at a summit in Brussels. In reaction, Catherine Olier, Oxfam’s EU Policy Adviser, said:

The true scandal is that most of the schemes used by BASF are legal, and a consequence of fierce tax competition between EU member states, says Oxfam in reaction to the Greens/EFA group report on aggressive tax planning practices of German chemical giant BASF.

EU Foreign Ministers failed last night to extend the EU arms embarg

In an open letter, a large coalition of civil society organizations and trade unions, including Oxfam, is asking European Commission President Jean-Claude Juncker for a more ambitious proposal on tax transparency.

Today European Finance Ministers agreed their common position for the United Nations COP 19

Today EU Finance Ministers, meeting in Luxembourg, agreed to drop the idea of an EU-wide European Financial Transaction Tax (FTT).

The EU has whitewashed two of the world’s most harmful tax havens in today's review of the its tax haven list, says Oxfam.