Chapter News

Chapter News

“Our Deal is a Symbol of a Strong and United Europe”

EU Leaders agreed a package of €1,824.3 billion combining the multiannual financial framework and the extraordinary recovery fund Next Generation EU that will help the EU to rebuild after the COVID-19 pandemic and will support investments in the green and digital transitions. We have reached a deal on the recovery package and the European budget. These were, of course, difficult negotiations in very difficult times for all Europeans. A marathon which ended in success for all 27 member states, but...

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Capital markets union: EU Council adopts new rules for crowdfunding platforms

The Council today adopted new rules to improve the way crowdfunding platforms operate across the EU. The new framework is part of the capital markets union's project which aims at providing an easier access to new financing sources. It will remove barriers for crowdfunding platforms to provide their services cross-border by harmonising the minimum requirements when operating in their home market and other EU countries. It will also increase legal certainty through common investor protection rules. The new rules will cover...

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Opening remarks by President von der Leyen at the joint press conference with President Michel following the Special European Council meeting of 17-21 July 2020

Thank you very much. Ladies and gentlemen, First of all, I would like to thank the President of the European Council – Charles Michel – for his enormous efforts and perseverance. This European Council's success is also his success. And I would like to thank Angela Merkel for her exceptional guidance. We negotiated for four long days and nights – more than 90 hours – but it was worth it. This agreement is a signal that Europe is capable of taking action. A...

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Chapter News, COVID-19 News

Recovery plan for Europe: Joint press conference following the Special European Council meeting of 17-21 July 2020

Opening remarks by European Commission President von der Leyen | Brussels | July, 21 2020 Thank you very much. Ladies and gentlemen, First of all, I would like to thank the President of the European Council – Charles Michel – for his enormous efforts and perseverance. This European Council's success is also his success. And I would like to thank Angela Merkel for her exceptional guidance. We negotiated for four long days and nights – more than 90 hours – but it was...

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Chapter News

IMF | Currencies and Crisis: How Dominant Currencies Limit the Impact of Exchange Rate Flexibility

Faced with an unprecedented shock of collapsing global demand and commodity prices, capital outflows, major supply chain disruptions and a generalized drop in global trade, many emerging markets and developing economies’ (EMDEs) currencies have weakened sharply. Will these currency movements support the recovery of these economies? Building on a new dataset, research laid out in a new IMF Staff Discussion Note indicates that the short-term gains from weaker currencies may be limited. This is especially true for EMDEs where firms price their international sales...

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Statement by the High Representative/Vice-President Josep Borrell on US sanctions

Brussels, 17/07/2020 | Statement by HR/VP I am deeply concerned at the growing use of sanctions, or the threat of sanctions, by the United States against European companies and interests. We have witnessed this developing trend in the cases of Iran, Cuba, the International Criminal Court and most recently the Nordstream 2 and Turkstream projects. As a matter of principle the European Union opposes the use of sanctions by third countries on European companies carrying out legitimate business. Moreover, it considers...

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OECD presents international tax update to G20 Finance Ministers

Secretary-General Angel Gurría briefed the G20 Finance Ministers today on ongoing negotiations to address the tax challenges of digitalisation and on recent international tax developments | Overview Since I last reported to you in February 2020, the world has undergone a cataclysmic change. The emergence of the COVID-19 pandemic has upended daily life as countries attempt to protect the health of their citizens and mitigate the economic fallout from the ongoing crisis. In responding to this crisis, the tax agenda is more relevant...

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EACCNY #COVID19 Impact Stories from Our Members – CitizenM Hotel

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 Michael Levie, Chief Operations Officer, CitizenM Hotel a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization...

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Chapter News, COVID-19 News

EU Council updates the list of countries for which member states should gradually lift travel restrictions at the external borders

Following the first review under the recommendation on the gradual lifting of the temporary restrictions on non-essential travel into the EU, the Council updated the list of countries for which travel restrictions should be lifted. This list will continue to be reviewed and, as the case may be, updated every two weeks. Based on the criteria and conditions set out in the recommendation, as from 16 July member states should gradually lift the travel restrictions at the external borders for residents...

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ECB Monetary policy decisions

At today’s meeting (July 16, 2020) the Governing Council of the ECB took the following monetary policy decisions: 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 -0.50% respectively. The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently...

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