Governments around the world are taking extraordinary measures to respond to the COVID-19 crisis. While maintaining the focus on addressing the health emergency and providing lifelines for households and businesses, governments need to prepare economies for the transition to the post-COVID-19 world—including by helping people get back to work. Public investment has a central role to play. Our new Fiscal Monitor shows that increasing public investment in advanced and emerging market economies could help revive economic activity from the sharpest and deepest...

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Main results On 1 and 2 October, EU leaders met in Brussels to discuss foreign affairs and the EU's economic base. On Thursday, they discussed the situation in the Eastern Mediterranean. They also addressed relations with China, the situation in Belarus, the conflict in Nagorno-Karabakh and the poisoning of Alexei Navalny. On Friday, COVID-19, the single market, industrial policy and digital transition were on the agenda. Leaders were also updated on EU-UK relations and the MFF negotiations with the European Parliament. European Council conclusions, 1-2 October 2020 Remarks by President Charles Michel after the Special...

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Publication of Eurosystem High-Level Task Force report on digital euro Eurosystem needs to be ready for possible future decision to introduce digital euro Public consultation and experimentation to be launched The European Central Bank (ECB) today published a comprehensive report on the possible issuance of a digital euro, prepared by the Eurosystem High-Level Task Force on central bank digital currency (CBDC) and approved by the Governing Council. A digital euro would be an electronic form of central bank money accessible...

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September 30, 2020, the Commission adopted two initiatives that will strengthen the contribution of education and training to the EU's recovery from the coronavirus crisis, and help build a green and digital Europe. Setting out a vision of the European Education Area to be achieved by 2025, the Commission proposes new initiatives, more investment and stronger cooperation of Member States to help all Europeans, of all ages, benefit from the EU's rich education and training offer. The Commission also adopted a...

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EU Member States agreed yesterday on a Commission proposal to invest €998 million in key European energy infrastructure projects under the Connecting Europe Facility (CEF). Yesterday's positive vote provides financial aid for works and studies for ten projects. The largest amount of funding goes to the Baltic Synchronisation Project (€720 million), to better integrate the electricity markets of Estonia, Latvia, Lithuania and Poland. Other projects include a smart electricity grid linking Hungary and Slovakia (€102 million), and the first-ever CEF grant for works on a CO2 transport project for...

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Statement explaining how ECB administers €STR Compliance of the ECB with IOSCO Principles, and therefore with international best practice, in its administration of €STR Independent assurance by external auditor The European Central Bank (ECB) today published its statement of compliance with the Principles for Financial Benchmarks developed by the International Organization of Securities Commissions (IOSCO). This statement shows how the ECB complies with these principles, and therefore with international best practice, in its administration of the €STR. The statement...

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Main results The Council adopted general approaches regarding the draft regulation establishing Horizon Europe, the EU's framework programme for research and innovation for the years 2021-2027, and the draft decision establishing the specific programme implementing Horizon Europe. Today’s agreement is an important step forward towards final adoption of Horizon Europe. We now need to make sure with the European Parliament and the Commission that our forward-looking EU Framework Programme for Research and Innovation can enter into force in the beginning of...

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