Chapter News

Chapter News

European Commission | 2025 State of the Digital Decade package

The State of the Digital Decade 2025 report offers a comprehensive overview of the EU’s digital transformation. The Commission’s State of the Digital Decade 2025 report shows that each Member State has adopted a roadmap detailing the actions and budget to advance their digital transformation in line with the Commission’s recommendations following last year’s report. Main findings The third annual report assesses the EU’s progress along the four pillars for the EU’s digital transformation, highlighting achievements and gaps while proposing concrete recommendations...

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IMF | Disclosing Public Debt Boosts Investor Confidence, Cuts Borrowing Costs 

By Yan Liu, General Counsel and Director of the Legal Department, IMF Greater debt transparency builds investor confidence, helps reduce borrowing costs, and strengthens debt sustainability—reducing the risk of shocks that can lead to a debt crisis Public debt is projected to reach nearly 100 percent of global gross domestic product by the end of this decade, surpassing even pandemic-level highs. Governments, particularly those in emerging market and developing economies, face both mounting debt service costs and shrinking room to maneuver...

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ECB | “More Europe” and financial integration

Keynote speech by Luis de Guindos, Vice-President of the ECB, at the annual Joint Conference of the European Commission and the European Central Bank on European financial integration Introduction I am once again delighted to speak at the annual joint conference of the European Commission and the European Central Bank on European financial integration. This is an important event for us as we come together to appraise and advance financial integration in Europe. The recent sea change in US economic policy and...

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Chapter News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | The Department of Commerce Announces New Auto Tariff Offset Process

WASHINGTON, D.C.— The U.S. Department of Commerce today released new procedures for U.S. automobile manufacturers to apply for offsets to the Section 232 tariffs applied on imported automobile parts based on the volume and value of the manufacturers’ automobile production in the United States.  This program will strengthen U.S. auto assembly capabilities and reduce American reliance on foreign auto production. Pursuant to President Donald J. Trump’s proclamation on March 26, 2025, 25% tariffs on imports of automobile parts went into effect on...

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Chapter News

European Commission | EU seeks feedback on a European blueprint for Savings and Investments Accounts

The European Commission has invited citizens and stakeholders to contribute to the development of a European blueprint for savings and investments accounts. This initiative, part of the Savings and Investments Union strategy, aims to facilitate citizens' participation in capital markets, enhancing returns on their savings while increasing funding available for EU companies to help them grow, innovate and create jobs. The Commission's call for evidence seeks input on best practices to make savings and investments accounts a convenient entry point to...

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ECB | International use of the euro broadly stable in 2024

Euro’s share across various indicators of international currency use largely unchanged at around 19% Emerging challenges include initiatives promoting global use of cryptocurrencies Upholding rule of law essential for maintaining, and potentially increasing, global trust in the euro The international role of the euro remained broadly stable in 2024 and the euro held on to its position as the second most important currency globally. The share of the euro across various indicators of international currency use has been largely...

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OECD | Accelerated climate action can be a driver of growth and development

Ambitious climate targets that are underpinned by robust implementation and investment plans can provide economic opportunities, unlock investment, and support sustainable development and growth, while facilitating low-emission transitions, according to a new joint report by the OECD and the United Nations Development Programme (UNDP). Investing in Climate for Growth and Development: The Case for Enhanced Nationally Determined Contributions (NDCs) shows that aligning climate policies with economic and social priorities can lead to higher global GDP, accelerated poverty reduction, improved energy security...

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IMF | Is Public Money Safe without the Rule of Law?

By Joseph Dalibon, Jean-Philippe Vion Imagine a country where public funds are allocated arbitrarily rather than because of an analytical process or the government’s policy priorities. In such a country, contracts would be awarded on the basis of personal connections rather than through an open competitive tendering process. Accountability would be nonexistent. It sounds like a dystopian scenario, but it's a reality in places where the rule of law is weak. Good public financial management (PFM) hinges on a robust...

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ECB | The rule of law as a constitutional pillar of European central banking

Keynote speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Italian constitutional court Introduction Thank you very much for inviting me. The writings, judgments and speeches of many among this distinguished audience have shaped our understanding of the rule of law. I find it a privilege – and slightly daunting – to address you today on such a fundamental issue. Today I am speaking to you as a central...

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Chapter News, New York Related News

NY Fed | Inflation Expectations Decline; Labor Market Expectations Improve

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the May 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations declined at the short-, medium-, and longer-term horizons. Consumers’ recent pessimism about the labor market eased somewhat, while consumer debt delinquency expectations and expectations about one’s household financial situation improved slightly. The main findings from the May 2025 Survey are: Inflation Median inflation expectations decreased at all three horizons in May. One-year-ahead inflation expectations declined by...

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