30 Apr
Chapter News, Financing for Development/UN SDG's

IMF | Achieving the Sustainable Development Goals Will Require Extraordinary Effort by All

The pandemic’s impact on the world’s poor has been especially harsh. COVID-19 may have pushed about 100 million people into extreme poverty in 2020 alone, while the UN warns that in some regions poverty could rise to levels not seen in 30 years. The current crisis has derailed progress toward basic development goals, as low-income developing countries must now balance urgent spending to protect lives and livelihoods with longer-term investments in health, education, physical infrastructure, and other essential needs. In a new study, we propose...

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30 Apr
Member News

Troutman Pepper | SBA’s Restaurant Revitalization Fund Begins Taking Applications May 3

Prompt Attention Necessary for Registrations Which Begin April 30 Congress created the Restaurant Revitalization Fund (Fund) as a part of the larger American Rescue Plan Act of 2021 (H.R. 1319) (Act), which President Biden signed into law last month with $28.6 billion allocated to the Fund under the Act. The U.S. Small Business Administration’s (SBA) grant program, created under the Act’s authority, will begin accepting applications on May 3, 2021 at 12:00 p.m. EST. In anticipation of the application window...

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30 Apr
Member News

Vulcan Insight | EU economic powerhouse present their economic recovery plans

With days before the 30 April “orientation date” for national capitals to submit their economic recovery plans to the European Commission for assessment, the EU’s economic powerhouses this week submitted their national reform and spending plans in order to get a share of the mammoth €800 billion post-COVID Recovery and Resilience Facility (RRF).  As the initial brains behind the landmark Recovery Fund, which, for the first time in EU history, will be funded by Member States’ joint debt, German Finance Minister...

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30 Apr
Chapter News

IMF | COVID-19: The Moms’ Emergency

A year ago, the world changed. While the pandemic’s effect on workers has varied worldwide, the new reality has left many mothers scrambling. With schools and daycares closed, many were forced to leave their jobs or cut the hours they worked. New IMF estimates confirm the outsized impact on working mothers, and on the economy as a whole. In short, within the world of work, women with young children have been among the biggest casualties of the economic lockdowns. 'Mothers of young children...

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29 Apr
Chapter News

OECD | Labour market disruption & COVID-19 support measures contribute to widespread falls in taxes on wages in 2020

The COVID-19 crisis has resulted in the largest decrease in taxes on wages since the global financial crisis of 2008-09, according to a new OECD report. Taxing Wages 2021 shows that declining household incomes coupled with tax reforms linked to the pandemic are driving widespread declines in effective taxes on wages across the OECD. The report highlights record falls across the OECD during 2020 in the tax wedge – the total taxes on labour paid by both employees and employers, minus...

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29 Apr
Member News

Portolano Cavallo | Italian Competition Authority fines Telepass for alleged misleading information on the use of personal data: is it the fall of all boundaries between consumer protection and privacy protection in the digital world?

This article is part of Portolano Cavallo’s “INFORM@Digital & IP” Newsletter. Click here to subscribe. | With a recent decision, the Italian Competition Authority (AGCM or “ICA”) brought renewed focus to the increasing intersection between consumer protection rules and personal data protection rules. Specifically, the ICA fined Telepass (a company providing payment systems and toll services to drivers) and its subsidiary, Telepass Broker, EUR 2 million for having received information about users from car insurance companies and brokers without adequately informing users...

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29 Apr
Member News

NautaDutilh | Insufficient cybersecurity measures under GDPR: 100k EUR fine in Belgium & key fines elsewhere

On 26 April 2021, the Litigation Chamber of the Belgian Data Protection Authority (BDPA) handed down its first fine specifically for cybersecurity failures. This decision follows others where the Litigation Chamber considered cybersecurity failures as a factor among others (see e.g. decision of 22 January 2021), and it should serve as a signal for other organisations: all controllers and processors must ensure that the technical and organisational measures they have taken to keep personal data secure are appropriate. Otherwise, the bill...

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29 Apr
Chapter News

EU COVID-19 certificate must facilitate free movement without discrimination

Universal, accessible, timely and free-of-charge testing needed across the EU EU COVID-19 certificates are not travel documents Member states should not impose quarantines/tests on certificate holders On Thursday, Parliament adopted its negotiating position on the proposal for a certificate to reaffirm the right to free movement in Europe during the pandemic. MEPs agreed that the new “EU COVID-19 certificate” - instead of Digital Green Certificate, as proposed by the Commission - should be in place for 12 months and not...

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29 Apr
Chapter News

ECB | Euro area economic and financial developments by institutional sector: fourth quarter of 2020

Euro area net saving decreased to €508 billion in four quarters to fourth quarter of 2020, from €549 billion one quarter earlier Household debt-to-income ratio increased to 96.3% in fourth quarter of 2020 from 93.8% one year earlier Non-financial corporations' debt-to-GDP ratio (consolidated measure) at 84.0% in fourth quarter of 2020, up from 76.8% one year earlier Total euro area economy Euro area net saving decreased to €508 billion (5.6% of euro area net disposable income) in 2020 compared with €549 billion in the four quarters to the...

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29 Apr
Brexit News, Chapter News

EU-UK trade and cooperation agreement: Council adopts decision on conclusion

The Council has today adopted a decision on the conclusion of the EU-UK trade and cooperation agreement and the security of information agreement. This is the last step for the EU in the ratification of the agreements. The UK will now be notified of the finalisation of the internal EU procedures. Following this, the agreements and accompanying texts will be published in the Official Journal of the EU before the end of the month. On 1 May 2021, both agreements...

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