Chapter News

11 Nov
Chapter News, COVID-19 News

Coronavirus: EU Commission approves contract with BioNTech-Pfizer alliance to ensure access to a potential vaccine

Today, the European Commission approved a fourth contract with pharmaceutical companies BioNTech and Pfizer, which provides for the initial purchase of 200 million doses on behalf of all EU Member States, plus an option to request up to a further 100 million doses, to be supplied once a vaccine has proven to be safe and effective against COVID-19. Member States can decide to donate the vaccine to lower and middle-income countries or to re-direct it to other European countries. Today's...

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11 Nov
Chapter News

IMF | Data Disruption: The Impact of COVID-19 on Inflation Measurement

Lockdowns, working from home, and physical distancing caused people to spend larger shares of their household budgets on food and housing, while fewer people bought nonessentials, like airline tickets and clothing. And with incomes down as millions have lost their jobs, spending on nonessential items will likely remain depressed. The consumer price index (CPI) does not reflect these abrupt changes in spending patterns because the CPI weights are not continuously updated. For example, the CPI could be pulled down by a...

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10 Nov
Chapter News

Antitrust: EU Commission sends Statement of Objections to Amazon for the use of non-public independent seller data and opens second investigation into its e-commerce business practices

The European Commission has informed Amazon of its preliminary view that it has breached EU antitrust rules by distorting competition in online retail markets. The Commission takes issue with Amazon systematically relying on non-public business data of independent sellers who sell on its marketplace, to the benefit of Amazon's own retail business, which directly competes with those third party sellers. The Commission also opened a second formal antitrust investigation into the possible preferential treatment of Amazon's own retail offers and...

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10 Nov
Chapter News, COVID-19 News

President von der Leyen on the authorisation of the contract for vaccines with Pfizer and BioNTech

Statement by President von der Leyen on 10 November, 2020 | "A safe and effective vaccine is our best chance to beat coronavirus and return to our normal lives. In the past months, the European Commission has been working tirelessly to secure doses of potential vaccines. And tomorrow we authorise a contract for up to 300 million doses of the vaccine developed by German company BioNTech and Pfizer. This is the most promising vaccine so far. Once this vaccine becomes available, our plan...

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09 Nov
Chapter News

Regulatory and Supervisory Issues Relating to Outsourcing and Third-Party Relationships: Discussion paper

Full discussion available as a PDF | This discussion paper considers regulatory and supervisory issues relating to outsourcing and third-party relationships. It will facilitate a discussion on current regulatory and supervisory approaches to the management of outsourcing and third-party risks. Financial institutions have relied on outsourcing and other third-party relationships for decades. However, in recent years, the extent and nature of interactions with a broad and diverse ecosystem of third parties has evolved, particularly in the area of technology. The financial...

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09 Nov
Chapter News, Trade & TTIP Related

Boeing WTO case: EU puts in place countermeasures against U.S. exports

The European Commission’s regulation increasing tariffs on U.S. exports into the EU worth $4 billion will be published in the Official Journal of the EU. The countermeasures have been agreed by EU Member States since the U.S. has not yet provided the basis for a negotiated settlement, which would include an immediate removal of U.S. tariffs on EU exports in the Airbus WTO case. The World Trade Organization (WTO) formally authorised the EU on 26 October to take such countermeasures...

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09 Nov
Chapter News, Trade & TTIP Related

EU Leaders Congratulate President-Elect Biden and Vice President-Elect Harris

Leaders from across the world offered their congratulations on Saturday, November 7 to U.S. President-elect Joseph R. Biden, Jr. and Vice President-elect Kamala Harris, following their projected win in the 2020 presidential election. As partners with shared history and values, EU leaders were among the first to send well wishes to Biden and Harris. European Commission President Ursula von der Leyen said she looked forward to working with President-elect Biden, adding, “The European Union and the United States are friends...

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06 Nov
Chapter News, COVID-19 News

OECD | COVID-19 and the climate crisis: Combining green budgeting and tax policy tools for a better recovery

It has been said that the best preparation for tomorrow is doing your best for today. When the President of the French Republic confirmed France’s participation in the Paris Collaborative on Green Budgeting in December 2017, he could hardly have known that, less than three years later, green budgeting would become a central tool for developing France’s “green recovery” from a global pandemic. At the meeting of the Paris Collaborative on Green Budgeting earlier this month, French Treasury officials showcased to...

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05 Nov
Chapter News, Financing for Development/UN SDG's

SDGs have never been so relevant for the EU say representatives of regions, cities and the European Commission

​​​​​​​​​​​​​​​On 21 October, the European Committee of the Regions, EUROCITIES, CEMR, PLATFORMA and Regions4 organised a workshop on the role of the SDGs in the crisis recovery. Estelle Göger, member of Cabinet of Commissioner for Economy, Paolo Gentiloni, represented the European Commission and intervened following a debate with speakers representing the diversity of local and regional authorities in the EU – regions, cities, big and small, south, north, East and West of the EU. While there is a real risk of...

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05 Nov
Chapter News

Autumn 2020 Economic Forecast: Rebound interrupted as resurgence of pandemic deepens uncertainty

The coronavirus pandemic represents a very large shock for the global and EU economies, with very severe economic and social consequences. Economic activity in Europe suffered a severe shock in the first half of the year and rebounded strongly in the third quarter as containment measures were gradually lifted. However, the resurgence of the pandemic in recent weeks is resulting in disruptions as national authorities introduce new public health measures to limit its spread. The epidemiological situation means that...

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