Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring two members: Martin Breckheimer, Head of Corporate & Institutional Banking; and Simone Ehmann, Director, Corporate Desk, who are both at LB≡BW New York Branch, and EACCNY members. The questions we asked our members...

Read more

8 May, 2020 | • Small and medium-sized enterprises (SMEs) reporting rapid deterioration in economic environment in context of COVID-19 • Deterioration in economic outlook and SMEs’ financial situations having strong negative impact on availability of finance • SME expectations about access to external finance deteriorating sharply, reflecting expected impact of coronavirus pandemic Euro area small and medium-sized enterprises (SMEs) reported a decline in turnover (in net terms -2%, from 20% in the previous six months) in the latest European Central Bank (ECB) Survey...

Read more

May 8, 2020 | The European Commission has set up an EU Humanitarian Air Bridge to transport humanitarian workers and emergency supplies for the coronavirus response to some of most critical areas around the world. Janez Lenarčič, Commissioner for Crisis Management, is travelling today to Bangui on the first flight and will meet H.E. Faustin-Archange Touadéra, President of the Central African Republic, as well as humanitarian organisations. Commissioner Janez Lenarčič said: “Leaving any area of the world unprotected today leaves us all unprotected tomorrow. As part of...

Read more

May 6, 2020 | Fiscal policies have provided large emergency lifelines to people and firms during the COVID-19 pandemic. They are also invaluable to increase a country’s readiness to respond to a crisis and to help with the recovery and beyond. When the Great Lockdown finally ends, a strong economic recovery that benefits everyone will depend on improved social safety nets and broad-based fiscal support. This includes public investment in health care, infrastructure, and climate change. Countries with high debt levels will have to...

Read more

May 7, 2020 | The pandemic has highlighted the role of the public sector in saving lives and livelihoods. State-owned enterprises are part of that effort. They can be public utilities that provide essential services. Or public banks that provide loans to small businesses. But some are also struggling and adding to the burden on government finances. These range from national oil companies that are dealing with a large fall in oil prices, to national airlines without enough passengers traveling. Most people...

Read more

May 4, 2020 | Today, the Commission registered €7.4 billion, equivalent to $8 billion, in pledges from donors worldwide during the Coronavirus Global Response pledging event. This includes a pledge of €1.4 billion by the Commission. This almost reaches the initial target of €7.5 billion and is a solid starting point for the worldwide pledging marathon, which begins today. The aim is to gather significant funding to ensure the collaborative development and universal deployment of diagnostics, treatments and vaccines against coronavirus. President of the European Commission, Ursula von...

Read more