The world’s largest economies, particularly the EU, China, the US, Mexico and Canada, are all projected to suffer economically from the re-emergence of economic protectionism, and a significant increase in trade tariffs. In the case of the EU, the bloc would experience a 1% contraction in GDP, a 0.3% lower rate of employment, and a 1.1% decrease in imports by 2030, compared to a ‘no new tariffs’ baseline scenario. This analysis is based on a global macro-economic model run by...

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Strasbourg, 17 April 2019 Today, the European Parliament approved the new Regulation on platform-to-business trading practices that is aimed at establishing a fair, trusted and innovation-driven environment for businesses and traders when using online platforms. Vice-President for the Digital Single Market, Andrus Ansip, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs Elżbieta Bieńkowska, and Commissioner for Digital Economy and Society, Mariya Gabriel, welcomed the outcome of the vote in a joint statement: “We are delighted by the overwhelming support to the new...

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10 April 2019 At today’s meeting the Governing Council of the European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels at least through the end of 2019, and in any case for as long as necessary to ensure...

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European Commission, Brussels, 9 April 2019 At Digital Day 2019, participating Ministers and representatives of the EU confirmed their full commitment to work more closely in key areas where digital technologies will make a significant impact in the coming years. European Commission Vice-President Andrus Ansip, Commissioners Tibor Navracsics, Phil Hogan and Mariya Gabriel welcomed the commitments from European countries to step up cooperation on the digitalisation of cultural heritage, digitalisation of agriculture and rural areas, and promoting greater participation of women...

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