Less favourable credit terms for counterparties across the entire spectrum of securities financing and OTC derivatives transaction types. Less favourable non-price credit terms being offered in securities financing transactions but at the same time more favourable financing rates for many types of collateral. Overall credit terms offered to counterparties across the entire spectrum of securities financing and OTC derivatives transaction types became less favourable during the three-month reference period ending in February 2016. The tightening of credit terms was most pronounced...

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Remarks by Vice-President Dombrovskis at the Atlantic Council Ladies and gentlemen,The Belgian Nobel Prize-winning physical chemist Ilya Prigogine has described how systems can adapt and find a new equilibrium. How they create 'order out of chaos'. And how their fundamental openness is the characteristic that allows them to change. As he summed it up: 'we grow in direct proportion to the amount of chaos we can withstand and dissipate...' Don't worry, I am not here to talk thermodynamics with you. But...

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Participants at the Press Conference: Vitor Gaspar, Director of the Fiscal Affairs Department; Abdelhak Senhadji, Deputy Director of the Fiscal Affairs Department; Benedict Clements, Chief of the Fiscal Policy and Surveillance Division, Fiscal Affairs Department; Wiktor Krzyzanowski, Senior Communications Officer, Communications Department Mr. Krzyzanowski: Good morning, everybody. Thank you very much for joining us today for the presentation of the Fiscal Monitor. My name is Wiktor Krzyzanowski; I am with the Communications Department of the Fund. Let me present to...

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New EU data protection rules which aim to give citizens back control of their personal data and create a high, uniform level of data protection across the EU fit for the digital era was given their final approval by MEPs on Thursday. The reform also sets minimum standards on use of data for policing and judicial purposes. Parliament’s vote ends more than four years of work on a complete overhaul of EU data protection rules. The reform will replace the...

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On 12 and 13 April Jean-Claude Juncker, President of the European Commission, delivered two speeches before the European Parliament, the first relating to the attacks in Brussels and the second on the conclusions of the March European Council. In his speech at the European Parliament’s plenary session Jean-Claude Juncker, the President of the European Commission, insisted that we are stronger when we work together. ‘The time for action has come. In the area of security, as in many other areas...

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New EU rules to help firms win legal redress against theft or misuse of their trade secrets were voted by Parliament on Thursday. MEPs ensured that freedom of expression and information will be protected and that the rules will not restrict the work of journalists. “With one company out of every five a victim of theft of trade secrets every year, harmonisation should allow the creation of a safe and trustworthy environment for European companies, which will see their intangible...

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The European Parliament is set to finalise more than four years of negotiations this week in Strasbourg when MEPs pass the legislation in the Civil Liberties Committee on Tuesday 12 April, followed by a vote by the full house on Thursday 14 April. The overhaul concerns two pieces of legislation: a general regulation on personal data processing in the EU and a directive on data processed by the police and judicial authorities. Together, these make up the data protection package. The...

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The College proposes to introduce public reporting requirements for the largest companies operating in the EU and in tax havens. It also assesses progress by Greece to address deficiencies at external borders and discusses way forward on visa reciprocity. Tax transparency: country-by-country reporting by multinationals Fighting against tax avoidance and aggressive tax planning is a political priority for the European Commission. Since the beginning of its mandate, the Juncker Commission has pursued an ambitious agenda to ensure fair taxation, meaning that companies...

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Citing the dramatically worsening steel market situation in all three countries, the governments of Canada, Mexico and the United States agree on the need for governments of all major steel-producing countries to make strong and immediate commitments to address the problem of global excess steelmaking capacity.  Officials of Canada, Mexico and the United States, along with North American steel company representatives, met in Mexico City on March 31 – April 1, for the North American Steel Trade Committee, where they reviewed...

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