The economic impact of the COVID-19 pandemic on emerging market economies far exceeded that of the global financial crisis. Unlike previous crises, the response has been decisive just like in advanced economies. Yet, conventional policies are reaching their limit and unorthodox policies are not without risks. A pandemic still unfolding COVID-19 is still to play out fully in the emerging market universe (see chart for country list), posing risks to both people and economies. While countries such as China, Uruguay, and Vietnam...

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Blog post by Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy / Vice-President of the European Commission | The Internet plays a vital role in our lives, which is why we need to protect ourselves against cyber-attacks. Today, the EU imposed its first-ever cyber sanctions, to defend its citizens and companies from cyber threats. "We will not tolerate cyber-attacks: we have the tools to protect ourselves and the determination to use the them." HR/VP Josep Borrell Not...

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The European Commission has opened an in-depth investigation to assess the proposed acquisition of Fitbit by Google under the EU Merger Regulation. The Commission is concerned that the proposed transaction would further entrench Google's market position in the online advertising markets by increasing the already vast amount of data that Google could use for personalisation of the ads it serves and displays. Executive Vice-President Margrethe Vestager, responsible for competition policy, said: “The use of wearable devices by European consumers is expected...

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In her written statement to the House Judiciary subcommittee on antitrust, Executive Vice President of the European Commission Margrethe Vestager warns that if digital platforms act unchecked, they can cause significant harm to competition, innovation and ultimately to consumers. Read her statement here: STATEMENT BY MARGRETHE VESTAGER TO THE UNITED STATES HOUSE OF REPRESENTATIVES Compliments of Delegation of the European Union to the United States.

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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 Mikkel Hagen Hess, Acting Consul General of Denmark in New York a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you,...

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 Members of the OECD Development Assistance Committee (DAC), comprised of 29 donor countries and the EU, have agreed on a method for reporting debt relief as official development assistance (ODA). The agreement follows calls by developing countries and civil society for expanded international debt relief efforts. Creditors within the Paris Club, a forum of official creditors for negotiating debt restructuring, had asked as well for the system to encourage the forgiveness and rescheduling of debt. The new agreement paves the way for...

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The Annual Report on Monitoring the Application of EU Law sets out how the Commission monitored and enforced EU law in 2019, and the performance of Member States  in various policy areas. The effective enforcement of EU law matters to citizens as it upholds the rights and benefits that they derive from EU law, which otherwise they would be denied. It also matters to businesses in order ensure a level-playing field across the internal market. While the number of open infringement cases remained...

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