Several senior EU representatives are participating to the 2020 edition of the Annual Meetings of the World Bank and the International Monetary Fund (October 5-23), which are held virtually due to the COVID-19 pandemic. European Commission Executive Vice President Valdis Dombrovskis speaks at two high-level climate and sustainable finance events. On October 12, he joined the Fourth Ministerial-Level Meeting Coalition of Finance Ministers for Climate Action. He will also speak alongside IMF Managing Director Kristalina Georgieva and other counterparts at the event...

Read more

When paying for coffee, we swipe, tap, wave, and soon may wink—a quick and painless exchange of coffee for money. But when paying for imports or sending remittances, we often fill-out forms, wait for days, and pay—too much. Progress to improve cross-border payments has been slow, but is just about to take off. That is how history evolves—one small step at a time, until it suddenly leaps forward. The confluence of new technologies and renewed determination among policymakers are making significant...

Read more

I. COVID-19 1. The European Council assessed the current epidemiological situation, which is unprecedented and gives rise to very serious concern. 2. It welcomed the progress achieved so far on overall coordination at EU level against COVID‑19, including the recommendation on a coordinated approach to the restriction of free movement. It calls on the Council, the Commission and the Member States to continue the overall coordination effort based on the best available science, notably regarding quarantine regulations, cross-border contact tracing, testing...

Read more

This report provides an update on work by the FSB, in collaboration with the international standard setting- bodies, to address market fragmentation. The report was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting in October. In June 2019, the FSB identified four areas for further work to address market fragmentation: This latest progress report provides an update on work in these areas: Deference. The International Organization of Securities Commissions published a Report on Good Practices on...

Read more

Today, the European Commission adopted the EU Chemicals Strategy for Sustainability. The Strategy is the first step towards a zero pollution ambition for a toxic-free environment announced in the European Green Deal. The Strategy will boost innovation for safe and sustainable chemicals, and increase protection of human health and the environment against hazardous chemicals. This includes prohibiting the use of the most harmful chemicals in consumer products such as toys, childcare articles, cosmetics, detergents, food contact materials and textiles, unless proven...

Read more

The European Commission has published today its Renovation Wave Strategy to improve the energy performance of buildings. The Commission aims to at least double renovation rates in the next ten years and make sure renovations lead to higher energy and resource efficiency. This will enhance the quality of life for people living in and using the buildings, reduce Europe's greenhouse gas emissions, foster digitalisation and improve the reuse and recycling of materials. By 2030, 35 million buildings could be renovated and up to 160,000...

Read more

Today, the World Trade Organization (WTO) allowed the EU to raise tariffs up to $4 billion worth of imports from the U.S. as a countermeasure for illegal subsidies to the American aircraft maker, Boeing. The decision builds upon the WTO’s earlier findings recognising the U.S. subsidies to Boeing as illegal under the WTO law. Executive Vice-President for an Economy that Works for People and Commissioner for Trade, Valdis Dombrovskis, said: “This long-awaited decision allows the European Union to impose tariffs on American...

Read more