In the context of the mid-term review of the EU’s cohesion policy, the Council adopted today amendments to existing regulations to better address current and emerging strategic challenges linked to the economic, social and territorial cohesion. These include, notably, defence and security, competitiveness and decarbonisation, affordable housing, measures related to water and challenges facing Eastern border regions. "The EU must be better prepared for tomorrow’s challenges. The legislation adopted today will enable member states to spend EU cohesion funds on...

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Washington, DC: International Monetary Fund (IMF) Managing Director Kristalina Georgieva today announced her intention to appoint Nigel Chalk as Director of the Fund’s Western Hemisphere Department (WHD). Mr Chalk will assume his new role effective October 27, 2025. A UK and Irish national, Mr. Chalk brings to the role nearly three decades of experience at the Fund. Deep institutional knowledge, strategic insight, and calm leadership have earned him widespread respect across the institution. “Nigel’s deep experience, sound judgment, and steady hand...

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By: Vitor Gaspar, Carlos Eduardo Goncalves, Marcos Poplawski-Ribeiro, IMF Decline in private lending offsets increase in public borrowing; notable differences persist across countries and income groups. Global debt has stabilized, though it remains at an elevated level, as a continued reduction in private-sector lending offset greater borrowing by governments. Total debt was little changed last year, just above 235 percent of global gross domestic product, according to the latest update of the IMF’s Global Debt Database. Private debt declined to under 143 percent of GDP, the...

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Keynote speech by Piero Cipollone, Member of the Executive Board of the ECB, at the Resilience Conference hosted by De Nederlandsche Bank At a time of digital and geopolitical disruptions, enhancing our financial sector’s resilience is critical to protect the stability and prosperity of our economy. Money is ultimately a matter of trust. That trust rests on the stability of prices, the stability of the financial system and the smooth functioning of payments that keep our economies moving every day. These...

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Dear Professor Draghi, caro Mario, Excellencies, Ladies and gentlemen, Today we mark one year since the Draghi report was released. But let me go back for a moment to two years ago, when I first called you, Mario, to propose that you embark on this new mission. I remember you were intrigued by the offer. But you set one condition. You said this new report had to make a real difference. You were not interested in writing another academic paper. You wanted...

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Paris, 15 September 2025 Speech by Christine Lagarde, President of the ECB, 'Conversations pour demain' on the occasion of the 25th anniversary of Institut Montaigne in Paris, France It is a great honour to be invited to celebrate the 25th anniversary of the Institut Montaigne with you. For a quarter of a century, this institution has stood out for its independence of thought. That independence has given its work both credibility and influence. As a central banker, independence has a special...

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Today, the Commission has launched the European strategy on research and technology infrastructures to boost Europe's leadership in scientific excellence and technological innovation. To remain a frontrunner in the global race for science and innovation, Europe must reinforce decisively its research and technology infrastructures and make them even more integrated and accessible to a wider range of users. The strategy ensures that scientists, researchers, innovators, and industry have easy access to Europe's cutting-edge facilities, high-quality data and tailored services. It...

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“Check against delivery” President Metsola, Honourable Members,   Europe is in a fight. A fight for a continent that is whole and at peace. For a free and independent Europe. A fight for our values and our democracies. A fight for our liberty and our ability to determine our destiny for ourselves. Make no mistake – this is a fight for our future. I thought long and hard about whether to start this State of the Union address with such a stark appraisal. After all,...

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Rising health expenditures and population ageing prompted many governments to increase social security contribution rates in 2024, reflecting a broader trend towards increasing revenues to strengthen the long-term sustainability of social protection systems, according to a new OECD report. The tenth annual edition of Tax Policy Reforms: OECD and Selected Partner Economies provides a comprehensive overview of tax reform trends, offering cross-country comparisons and tracking policy developments over time. This 2025 edition describes tax reforms implemented in 2024 across 86 jurisdictions, including all OECD...

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The European Commission's 2025 Strategic Foresight Report presents ‘Resilience 2.0', a forward-looking and proactive approach to ensuring the EU thrives in turbulent times, anticipates new challenges and creates a safe space for citizens and business. The report recognises various megatrends: climate and environmental transitions are accelerating, security concerns are rising, and global competition is reshaping economies and societies. At the same time, Europe faces questions on its strategic autonomy, competitiveness, social cohesion and the protection of democracy and fundamental values. The scale and...

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