Chapter News

15 Jul
Chapter News

Fair and Simple Taxation: EU Commission proposes new package of measures to contribute to Europe’s recovery and growth

The European Commission has today adopted an ambitious new Tax Package to ensure that EU tax policy supports Europe's economic recovery and long-term growth. The Package is built on the twin pillars of fairness and simplicity. Fair taxation remains a top priority for the European Commission, as a means of protecting public revenues, which will play an important role for the EU's economic recovery in the short-run and prosperity in the long-run. Today's Package seeks to boost tax fairness, by intensifying the...

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15 Jul
Chapter News

ECB’s July 2020 Euro Area Bank Lending Survey Results

Credit standards for loans to firms remain favourable, supported by fiscal and monetary measures Surge in firms’ demand for loans continues to reflect emergency liquidity needs Credit standards for loans to households tighten further Credit standards – i.e. banks’ internal guidelines or loan approval criteria – remained broadly unchanged for loans to enterprises (see Chart 1), while tightening further for loans to households for house purchase, consumer credit and other lending to households in the second quarter of 2020, according to the July 2020...

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14 Jul
Chapter News

EACCNY #COVID19 Impact Stories from Our Members – Global Commerce Education

Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring Sophie Lechner, Founder & CEO of Global Commerce Education a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you, personally and...

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14 Jul
Chapter News, COVID-19 News

Coronavirus Response: EU Commission welcomes ‘Best Practices’ to provide relief for consumers and businesses

The European Commission has welcomed a list of ‘best practices' agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and businesses throughout the crisis. Today's ‘best practices' cover several issues, including: Payment moratoria for consumer and business loans, and for insurance contributions: these measures can help those facing financial difficulties by deferring payments; Enabling safer cashless payments while ensuring cash...

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14 Jul
Chapter News, COVID-19 News

State Aid: EU Commission recommends not granting financial support to companies with links to tax havens

The European Commission has today recommended that Member States do not grant financial support to companies with links to countries that are on the EU's list of non-cooperative tax jurisdictions. Restrictions should also apply to companies that have been convicted of serious financial crimes, including, among others, financial fraud, corruption, non-payment of tax and social security obligations. The aim of today's recommendation is to provide guidance to Member States on how to set conditions to financial support that prevent the...

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13 Jul
Chapter News

European Council President Charles Michel presents his proposal for the MFF and the recovery package

Statement by President Charles Michel | Brussels One week from today, the 27 Leaders will come together here in Brussels.  It will be our first physical meeting since the beginning of the crisis. As you know, last May, on the request of the European Council, the Commission presented a package that combines the MFF and the recovery instrument Next Generation EU. On June 19th, leaders had a first discussion on this proposal. These discussions revealed strong opposition to the package. As a...

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13 Jul
Chapter News

ESMA issues second report on sanctions under MiFID II

The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has published today its second report on sanctions and measures imposed under the Markets in Financial Instruments Directive (MiFID II) by National Competent Authorities (NCAs). Overall, in 15 (out of 30) EEA Member States, NCAs imposed a total of 371 sanctions and measures in 2019 of an aggregated value of about €1.8 million. The Report provides an overview of the applicable legal framework and the sanctions and measures imposed by NCAs under...

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13 Jul
Chapter News

Urgent action needed to stop jobs crisis becoming a social crisis

Watch the webcast of the press conference | The Covid-19 pandemic is turning into a jobs crisis far worse than the 2008 crisis. Women, young people and workers on low incomes are being hit hardest, according to a new OECD report and unemployment statistics released today. The OECD unemployment rate edged down to 8.4% in May 2020, after an unprecedented increase of 3.0 percentage points in April, to 8.5%, the highest unemployment rate in a decade. In February 2020, it was at...

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10 Jul
Chapter News

Statement from the OECD Secretary-General

10/07/2020 - OECD Secretary-General Angel Gurría announced today to the OECD Council that he will not be seeking an additional mandate to lead the Organisation. He has issued the following statement: “During the 14 years that I have been leading the OECD, I have strived to make it more visible, more relevant, more impactful, more efficient. All to better serve our Members, first and foremost, as well as our Partner countries. In the context of the worst pandemic since the ‘Spanish flu’...

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10 Jul
Chapter News

EACCNY | EACCNY Executive Director Interviewed by the Transatlantic Business & Investment Council (TBIC)

This interview of Yvonne Bendinger-Rothschild, the Executive Director of EACCNY, was featured in Transatlantic Business & Investment Council's (TBIC) market insight on FDI-related developments in Europe for July 2020. Yvonne joined the European American Chamber of Commerce New York Chapter (EACC) as its Executive Director in October 2010. The EACC's goal is to stimulate transatlantic trade & business development, and to facilitate exchange and develop relationships between European and American businesses and professional organizations. As part of her role, she focuses on providing EACC’s...

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