June 11, 2020 | Today the Commission recommends to Schengen Member States and Schengen Associated States to lift internal border controls by 15 June 2020 and to prolong the temporary restriction on non-essential travel into the EU until 30 June 2020; and sets out an approach to progressively lifting the restriction afterwards. Given that the health situation in certain third countries remains critical, the Commission does not propose a general lifting of the travel restriction at this stage. The restriction should be lifted...

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The Council adopted conclusions today on shaping Europe’s digital future, addressing a wide range of issues related to the implementation of the EU digital strategy. The areas covered by the conclusions range from connectivity, digital value chains and eHealth to the data economy, artificial intelligence and digital platforms. The text also highlights the impact of the digital transformation on fighting the pandemic, and its critical role in the post-COVID-19 recovery.  "The COVID-19 pandemic and its consequences on our lives and economies...

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June 10, 2020 | The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances. Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19...

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June 08, 2020 | The Federal Reserve Board on Monday expanded its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support. The Board lowered the minimum loan amount, raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the term to five years, providing borrowers with greater flexibility in repaying the loans. The Board expects the Main Street program to be open for lender registration...

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June 09, 2020 | • Euro remains unchallenged as second most used currency globally after the US dollar • Role of euro stable as global reserve currency • International role declined after the global financial crisis, now bottomed out • Euro used as main currency of denomination globally for green bond issuance The euro’s international role remained overall stable in 2019. This was one of the principal findings in the latest annual report on The international role of the euro, published today by the European...

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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 Cameron Heffernan, Director of North America, Mach Media 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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June 08, 2020 | The Council approved conclusions on the "Team Europe" package that is part of the EU's global response to the COVID-19 pandemic. In its conclusions the Council expresses its deep concern about the global spread of the COVID‑19 pandemic, which continues to claim lives worldwide and have far-reaching social and economic effects. The Council stresses the urgency of protecting the lives and livelihoods of all people, leaving no-one behind, and of prioritising efforts in partner countries that are most in need. In light of that the Council fully supports the "Team Europe" approach and welcomes the announcement that...

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June 05, 2020 | Well-functioning and liquid gas markets are a prerequisite for ensuring affordable energy for consumers, competitiveness of industries, and security of supply. They also play a role in achieving the environmental ambitions of the European Green Deal, which foresees the decarbonisation of the gas sector via a forward-looking design for a competitive decarbonised gas market. To support the reflections on the possible need to enhance the EU regulatory framework for gas markets in the context of the European...

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June 08, 2020 | • Further decline – by 6.3% on average – in number of bank branches in most EU Member States • Number of bank employees also continued to fall by 0.9% on average • Share of total assets of the five largest banks, at national level, ranged from 28% to 97% The European Central Bank (ECB) has updated its dataset of structural financial indicators for the banking sector in the European Union (EU) for the end of 2019. This annual...

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