15 Oct
Chapter News

A new start for Jobs and Growth for Greece: €35 billion plan well underway

The European Commission welcomes yesterday's signature of the Jobs and Growth Plan for Greece by the European Parliament and by the Council. The exceptional measures presented by the Commission for Greece can thus enter into force tomorrow. Greece is set to receive over €35 billion already earmarked from the EU budget over 2014-2020, with €20.6 billion from the European Structural and Investment Funds. €800 million will be paid next week. Overall, almost €1.4 billion will be released in 2015 and €1 billion in 2016;...

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15 Oct
Chapter News

ECB: The future of Europe’s financial market infrastructure: the Eurosystem’s Vision 2020

Speech by Yves Mersch, Member of the Executive Board of the ECB, Singapore, 14 October 2015 Ladies and gentlemen, members of the panel, The beauty of innovation is that it never ends. Even the best ideas can be enhanced and complemented. The Eurosystem, the euro area’s network of central banks, has developed two major innovations in the field of financial market infrastructure over the past 15 years: TARGET (now TARGET2) and TARGET2-Securities, or T2S. Both platforms have significantly improved the way payments...

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14 Oct
Chapter News

Horizon 2020: new Work Programme supports Europe’s growth, jobs and competitiveness

Work Programme 2016-2017 - Spanning seven years (2014 to 2020) and working with a budget of €77 billion, Horizon 2020 is the biggest EU research and innovation funding programme ever. Today, the European Commission adopted the second of its two-year work programmes setting out funding opportunities for 2016-2017. This Work Programme offers a budget of almost €16 billion. It is based on extensive consultation and stakeholder involvement. All the calls and related information are published on a single portal. Horizon 2020...

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14 Oct
Chapter News, Trade & TTIP Related

Trade for All: European Commission presents new trade and investment strategy

This more responsible approach responds to new economic realities in line with the EU's foreign policy. Based on three key principles - effectiveness, transparency and values - it ensures trade policy benefits as many people as possible. The Commission is proposing a new trade and investment strategy for the European Union, entitled ‘Trade for All: Towards a more responsible trade and investment policy’. The new approach builds on Europe's excellent trade track record. EU companies export nearly as much as China to...

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13 Oct
Member News

New IIE Report: “Generation Study Abroad: Year One Impact”

Released at the IIE Summit on Generation Study Abroad, this impact report spotlights examples of Generation Study Abroad commitment partners who have made noteworthy progress to date and details what they have committed to accomplish to help double the number of U.S. students going abroad by the end of the decade. Highlights from the report: •  More than 600 commitment partners have pledged to expand study abroad opportunities. •  Partners have committed $185 million in financial support over the next five years. •...

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13 Oct
Member News

When Transferring Employees to the U.S., Foreign Employers Should Consider Impact if Proposed Changes to Overtime Exemption Are Approved

The Department of Labor (“DOL”) proposed a revision to the “white collar” overtime exemption rule.  As explained by Littler when it testified before the House Subcommittee, “the proposed white collar exemptions are unprecedented in the 77-year history.”  Even after this week's hearing, it is unclear whether the rule will be implemented in its current version or whether additional changes will be made.  The proposed rule has been published for more than 60 days and therefore DOL has authority to...

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13 Oct
Member News

European Court Clarifies Criteria For The Lawfulness Of Rebate Schemes Under EU Competition Law

The judgment of 6 October 2015 in case C-23/14 marks the second time that the European Court of Justice (“ECJ”) had to consider the business practices of the former state-owned operator of the Danish postal service, Post Danmark. While the first judgment mainly concerned the predatory pricing policy of the former monopolist, the ECJ discusses in the present judgment the lawfulness of a rebate scheme under EU competition law. Rebate schemes Rebate schemes are common and widely spread in commercial life....

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13 Oct
Member News

Almost 90% of the countries violates obligations under OECD Anti-Bribery Convention

Transparency International’s annual progress report shows that only a meagre 10% of the countries that signed the OECD Anti-Bribery Convention 16 years ago adhere to the standards. Just 4 out of 41 countries are actively enforcing the convention by investigating and prosecuting companies that bribe their way into business by providing payments to foreign officials. The enforcement rate in four countries has risen, but unfortunately Argentina slipped from limited enforcement in 2014 to little or no enforcement this year. José Ugaz,...

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13 Oct
Chapter News

Quarterly report for the Euro Area published

The European Commission’s Directorate-General for Economic and Financial Affairs today publishes its Quarterly Report on the Euro Area, featuring in-depth technical analysis of economic issues affecting the euro area. In this edition, staff economists compare the euro area's ongoing recovery with similar instances in its past and elsewhere and assess estimates of the EU's output gap. The report also takes a look at the factors driving inflation in the euro area and presents an abridged version of the Commission's July...

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13 Oct
Chapter News

Commission invests €16 billion in funding for research and innovation over next two years

The European Commission will boost competitiveness by investing almost €16 billion in research and innovation in the next two years under Horizon 2020, the EU's research and innovation funding scheme. The European Commission will invest almost €16 billion in research and innovation in the next two years under Horizon 2020, the EU's research and innovation funding scheme, following a new Work Programme for 2016-17 adopted today. The new funding opportunities offered by the Work Programme are directly aligned with the policy priorities of...

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