May 30, 2020 | Statement by the President of the Commission Ursula von der Leyen and High Representative/ Vice-President Josep Borrell As the world continues to fight the COVID-19 pandemic, the main task for everyone is to save lives and contain and mitigate this pandemic. The European Union continues to support the WHO in this regard and has already provided additional funding. In an EU-led resolution adopted by consensus on 19 May at the World Health Assembly, all WHO Member States agreed to...

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May 29, 2020 | Why do we need InvestEU for the post-coronavirus recovery? InvestEU is the EU's proposed flagship investment programme to kick-start the European economy. It is well-placed to provide long-term funding and to support Union policies in the recovery from a deep economic and social crisis. This has been shown with the successful implementation of the European Fund for Strategic Investments and other EU financial instruments in the wake of the past financial crisis. In the current coronavirus crisis, the...

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May 29, 2020 | As announced by European Commission President von der Leyen on 27 May 2020, the Commission is aiming to kick-start the EU economy by incentivising private investments. The Commission today proposes a new Solvency Support Instrument, which builds on the existing European Fund for Strategic Investments, to mobilise private resources to urgently support viable European companies in the sectors, regions and countries most economically impacted by the pandemic. The Solvency Support Instrument can be operational from 2020 and will have a...

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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 Annika Rembe, Consul General, Consulate General of Sweden a EACCNY member. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have faced? 2)...

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The coronavirus pandemic has claimed thousands of lives and put health systems under enormous strain. The Commission’s immediate priority is fighting the virus and mitigating the socio-economic consequences of the pandemic. At the same time, we must start looking ahead so that Member States can gradually lift their containment measures, with a view to entering the recovery phase and revitalising our societies and economy. While there is no one-size-fits-all approach to a gradual, science-based and effective lifting of containment measures,...

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May 27, 2020 | Today, the European Commission has put forward its proposal for a major recovery plan. To ensure the recovery is sustainable, even, inclusive and fair for all Member States, the European Commission is proposing to create a new recovery instrument, Next Generation EU, embedded within a powerful, modern and revamped long-term EU budget. The Commission has also unveiled its adjusted Work Programme for 2020, which will prioritise the actions needed to propel Europe's recovery and resilience. The coronavirus has shaken Europe and the world...

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May 26, 2020 | • Pandemic greatly amplified existing vulnerabilities of the financial sector, corporates and sovereigns • Policy responses to pandemic essential to preserve financial stability • Euro area banks, although now better capitalised, likely to face significant losses and further pressure on profitability Despite the immense social and economic disruption in the wake of the coronavirus (COVID-19) pandemic, decisive policy responses have helped to prevent a seizing-up of the financial system. However, even as infection rates fall in many countries, the...

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May 26, 2020 | Main results Ministers held an exchange of views on a comprehensive approach to the COVID-19 pandemic, including the de-escalation of containment measures and economic recovery. They were invited to share their experiences and provide comments on how to gradually lift restrictions related to COVID-19 and restart the economy and social activities, taking into account the health considerations. Ministers outlined their national measures and timelines, stressing the importance of continued cooperation between member states, as well as ensuring a proportionate and non-discriminatory...

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