May 22, 2020 | Statement by HR/VP Josep Borrells I regret the announcement by the United States to withdraw from the Open Skies Treaty. The Treaty on Open Skies is a key element of our arms-control architecture and serves as a vital confidence and security-building measure. Since it came into force in 2002, this agreement has enabled to carry out more than 1.500 reconnaissance missions over the territories of all the signatory states. The treaty provides transparency and predictability. It is an important...

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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 Celia Belline, CEO, CILcare 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) What are some of...

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May 20, 2020 | The EU is adapting certain rules for different transport sectors to help companies and authorities cope in the extraordinary circumstances created by the coronavirus crisis. Today, the Council adopted temporary measures enabling the extension of the validity of certain certificates and licences in road, rail and waterborne transport, and relaxing the rules on charging ships for the use of port infrastructures. Enabling the extension of the validity of licences and certificates will provide the flexibility and legal certainty needed to maintain our supply...

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May 22, 2020 | External communication Communication in relation to the German Federal Constitutional Court ruling of 5 May 2020 On 5 May 2020 the ECB issued a press release indicating that the Governing Council had taken note of the judgement issued by the German Federal Constitutional Court earlier that day regarding the public sector purchase programme (PSPP), on which it had received a preliminary briefing by the President of the Deutsche Bundesbank and by the legal department of the ECB, and...

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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 Phil Hogan, the Trade Commissioner for the European Union based in Brussels. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have...

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May 19, 2020 | • Credit terms remained broadly unchanged for almost all counterparties but are expected to tighten significantly the next reference period • Financing collateralised by euro-denominated securities continued to decline • Valuation disputes saw a strong increase • Terms and conditions in secured financing and OTC derivatives markets were, on balance, broadly unchanged compared with one year ago Against the background of the emerging coronavirus (COVID-19) crisis during the latter part of the review period December 2019 to February 2020, price...

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April 15, 2020 | Each year, CBO releases a set of four budget infographics that provide a detailed look at the past fiscal year as well as broader trends over the past few decades. Today, CBO published the latest infographics showing the federal budget results in fiscal year 2019. These infographics help people understand how much the government spends and takes in each year and what programs and revenue sources account for the largest portions of those budgetary flows. You can view...

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May 20, 2020 | The Commission has proposed today country-specific recommendations (CSRs) providing economic policy guidance to all EU Member States in the context of the coronavirus pandemic, focused on the most urgent challenges brought about by the pandemic and on relaunching sustainable growth. The recommendations are structured around two objectives: in the short-term, mitigating the coronavirus pandemic's severe negative socio-economic consequences; and in the short to medium-term, achieving sustainable and inclusive growth which facilitates the green transition and the digital...

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May 12, 2020 | Composite leading indicators (CLIs) in most major economies collapsed by unprecedented levels in April as containment measures for Covid-19 continued to have a severe impact on production, consumption and confidence.  In China, however, where containment measures have already been eased, the CLI for the industrial sector is tentatively pointing towards a positive change in momentum, with April’s CLI and a large upward revision for March both pushing the CLI upwards. Some care is needed in interpretation, as...

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May 14, 2020 | Financial circumstances were generally positive for most adults at the end of 2019. However, the Federal Reserve Board's latest Report on the Economic Well-Being of U.S. Households, Featuring Supplemental Data from April 2020, found that financial conditions changed dramatically for people who experienced job loss or reduced hours during March 2020 as the spread of COVID-19 intensified in the United States. The report draws from the Board's seventh annual Survey of Household Economics and Decisionmaking (SHED), which examines...

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