The EU has introduced a raft of new measures aimed at restraining pay levels in the corporate sector and making it easier for SMEs to set up in other countries in the region.

Enabling pension funds to invest in the real economy and creating a securitisation market for SMEs are among the proposals unveiled by the European Commission to unlock long-term financing to stoke economic growth.

NO further action will be taken to create a pan-European mortgage market unless it can be proven that the benefits to both lenders and borrowers exceeded the costs, Internal Market and Services Commissioner Charlie McCreevy pledged yesterday.

RETAIL stores, builders and garages are among businesses to be hit by tough EU money laundering laws agreed yesterday.