EU leaders agreed on Wednesday that their respective countries will set up a system for the automatic exchange of limited information between countries on personal banking accounts by the end of this year.
Canada's government is facing a worrying expenses scandal in the Senate that may harm its austerity plans and damage its credibility.
A tornado in Oklahoma City destroyed its suburb Moore on Monday, killing at least 90 people, with 20 children among the dead. Fifty-one were confirmed dead with 40 more victims expected to be found.
Tax fraud and tax evasion, as well as the EU energy policy, will be the main items on the agenda of the May EU Summit convened for Wednesday, with leaders intent on finding a plan on sharing tax data of residents.
According to reports, UK Prime Minister David Cameron is to unveil a draft bill on the EU referendum on Tuesday in London. This would make his promise to hold an in/out referendum in 2017 legally binding.
While France, Spain and Portugal call for swift action to set up the banking union, Germany points to a legal change that is needed to the Lisbon Treaty, while Greece and Cyprus have their bailout payments approved.
During bilateral talks in Washington on Monday, the UK Prime Minister David Cameron has pushed for a free trade agreement between the EU and US, as President Barack Obama urges Britain to fix relations with the EU.
A group of MPs from the Labour party has today launched a campaign with the aim of forcing the party leadership to commit to an in/out referendum on the UK's membership of the European Union.
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