The European Commission has disbursed €13 billion to six EU Member States in the sixth instalment of financial support under the SURE instrument. This is the third disbursement in 2021. As part of today's operations, Czechia has received €1 billion, Belgium €2.2 billion, Spain €4.06 billion, Ireland €2.47 billion, Italy €1.87 billion and Poland €1.4 billion. This is the first time that Ireland has received funding under the instrument. The other five EU countries have already benefitted from loans...

Read more

On 24 March, EU High Representative for Foreign Affairs and Security Policy/Vice President of the European Commission, Josep Borrell, and the Secretary of State of the United States of America, Antony J. Blinken met in Brussels to discuss ways to strengthen the EU-U.S. relationship and coordinate responses to priority foreign policy, security, and economic issues. They also committed to cooperate in the face of global challenges, including addressing the global climate crisis, bringing an end to the COVID-19 pandemic,...

Read more

Today, EU Commissioner for Justice, Didier Reynders, and U.S. Secretary of Commerce, Gina Raimondo, made the following statement regarding the negotiations on transatlantic data privacy flows: “The U.S. Government and the European Commission have decided to intensify negotiations on an enhanced EU-U.S. Privacy Shield framework to comply with the July 16, 2020 judgment of the Court of Justice of the European Union in the Schrems II case. These negotiations underscore our shared commitment to privacy, data protection and the rule of law and our...

Read more

Our digital footprint generates enormous value, but too much of it ends up in Big Tech silos Humanity has never been so comprehensively recorded. Smartwatches capture our pulse in real time for a distant artificial intelligence (AI) to ponder the risks of heart disease. Bluetooth and GPS keep track of whether some of us shop at gourmet stores and linger in the candy aisle. Our likes and browsing hours on social media are harvested to predict our credit risk. Our...

Read more

Leverage, the ability to borrow, is a double-edged sword. It can boost economic growth by allowing firms to invest in machinery to expand their scale of production, or by allowing people to purchase homes and cars or invest in education. During economic crises, it can play a particularly important role by providing a bridge to the economic recovery. 'The question becomes how to ensure that the fledgling recovery is not endangered, while at the same time avoiding an excessive buildup of...

Read more

Six countries remain subject to potential action while broader international tax negotiations continue WASHINGTON – The United States Trade Representative (USTR) today announced the next steps in its Section 301 investigations of Digital Service Taxes (DSTs) adopted or under consideration by ten U.S. trading partners.  In January, USTR found that the DSTs adopted by Austria, India, Italy, Spain, Turkey, and the United Kingdom were subject to action under Section 301 because they discriminated against U.S. digital companies, were inconsistent with...

Read more