Environmentally conscious design can make a major difference in the energy efficiency of digital currencies. Most of the world’s central banks have already agreed they should help fight climate change, a critical challenge that necessitates reductions in both energy consumption, which is our focus here, and the carbon emissions associated with the energy consumed. To meet these aims, it’s important to pay attention to the energy used by the payment systems that central banks regulate and oversee. Monetary authorities now have...

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Keynote speech by Fabio Panetta, Member of the Executive Board of the ECB, at the European Payments Council’s 20th anniversary conference | Frankfurt am Main, 16 June 2022 | Let me warmly congratulate you on the 20-year anniversary of the European Payments Council (EPC). Your organisation has been key to the transformation of Europe’s payment system into one of the most efficient in the world, seizing the opportunities offered by the Single Market and the introduction of the euro. Estimates...

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After more than a year of Pandemic-related travel restrictions and US embassy closures, international travel has resumed. However, members across the EACC network share that business travel into the United States remains fraught. In certain cases, ESTA applications are being denied and visa applicants must sometimes wait for more than a year for an appointment at a US Consulate. Please take a moment to answer the below questions about your and/or your company’s experience in attempting to gain entry into...

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The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its Annual Report reviewing its achievements in 2021 in fulfilling its mission of enhancing investor protection and promoting stable and orderly financial markets in the European Union (EU), and focusing on its role in the supervision of EU-wide entities and its contribution on sustainable and digital finance. ESMA’s key achievements in 2021 included the recognition and tiering of third-country central counterparties (CCPs), the coordination of supervisory...

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Following the statement by President Ursula von der Leyen and U.S. President Joe Biden marking the second Global COVID-19 Summit, the European Commission and the U.S. Department of Health and Human Services have signed an arrangement to strengthen cooperation on preparedness and response to public health threats. This will enable the Commission and the U.S. to work together on a broad range of topics to jointly tackle health emergencies, contributing to establishing a strong global health architecture. Stella Kyriakides, European...

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40% of non-executive director posts should go to the under-represented sex Dissuasive penalties for non-compliance Small and medium-sized enterprises with up to 249 employees will be excluded After being blocked in the Council for a decade, EP and EU countries’ negotiators finally agreed on a bill to increase the presence of women on corporate boards. The provisional agreement reached on Tuesday night on the draft legislation aims to ensure gender parity on boards of publicly listed companies in the EU. At...

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The minimum wage should be adequate to ensure a decent standard of living Right to redress for workers, their representatives and trade union members if rules are violated EU rules to respect the powers of national authorities and social partners to determine wages Collective bargaining to be strengthened in countries where it covers fewer than 80% of workers The agreed legislation aims to ensure that minimum wages in all EU countries guarantee decent living standards for workers. With a deal...

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In response to several months of exceptionally high and volatile energy prices, the Commission sets out today a series of additional short-term measures to tackle high energy prices and address possible supply disruptions from Russia. It also presents a number of areas where the electricity market design can be optimsied, making it fit for the transition away from fossil fuels and more resilient to price shocks, while protecting consumers and delivering affordable electricity. Commissioner for Energy, Kadri Simson, said: “The...

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The Commission has today proposed an annual EU budget of €185.6 billion for 2023, to be complemented by an estimated €113.9 billion in grants under NextGenerationEU. The EU budget will continue to mobilise significant investments to boost Europe's strategic autonomy, the ongoing economic recovery, safeguard sustainability and create jobs. The Commission will continue to prioritise green and digital investments while addressing pressing needs arising from recent and current crises. Commissioner Johannes Hahn, responsible for the EU Budget, said: “We are...

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One single charger for frequently used small and medium-sized portable electronic devices Charging speed harmonised for devices that support fast charging Buyers can choose whether to purchase new device with or without charging device By autumn 2024, USB Type-C will become the common charging port for all mobile phones, tablets and cameras in the EU, Parliament and Council negotiators agreed today. The provisional agreement on the amended Radio Equipment Directive, establishes a single charging solution for certain electronic devices. This...

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