The European Commission has today adopted a Capital Markets Recovery Package, as part of the Commission's overall coronavirus recovery strategy. On 28 April, the Commission had already proposed a Banking Package to facilitate bank lending to households and businesses throughout the EU. Today's measures aim to make it easier for capital markets to support European businesses to recover from the crisis.  The package proposes targeted changes to capital market rules, which will encourage greater investments in the economy, allow for the...

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Washington, DC | On July 13, the Executive Board of the International Monetary Fund (IMF) approved a temporary increase in the annual limits on overall access to resources in the General Resources Account and the Poverty Reduction and Growth Trust. The severe impact of the COVID-19 pandemic on global economic conditions has resulted in an unprecedented number of member countries seeking financial support from the IMF. As of July 13, 2020, 72 countries have already received financial assistance from the...

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The EU is providing additional funding and flexibility in the use of the structural funds to help member states' recovery efforts following the COVID-19 outbreak. EU ambassadors, meeting within the Committee of Permanent Representatives, today endorsed the Council's partial position on REACT-EU, the EU initiative with the biggest impact in the short to medium term, as well as on a series of amendments to long-term legislative proposals. We must ensure that European regions not only survive the crisis but emerge stronger...

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Opening remarks by European Commission President von der Leyen | Brussels | July, 21 2020 Thank you very much. Ladies and gentlemen, First of all, I would like to thank the President of the European Council – Charles Michel – for his enormous efforts and perseverance. This European Council's success is also his success. And I would like to thank Angela Merkel for her exceptional guidance. We negotiated for four long days and nights – more than 90 hours – but it was...

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Following the first review under the recommendation on the gradual lifting of the temporary restrictions on non-essential travel into the EU, the Council updated the list of countries for which travel restrictions should be lifted. This list will continue to be reviewed and, as the case may be, updated every two weeks. Based on the criteria and conditions set out in the recommendation, as from 16 July member states should gradually lift the travel restrictions at the external borders for residents...

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