At today's ECOFIN Council, EU Finance Ministers agreed on the Regulation to set up the European Fund for Strategic Investments (EFSI), which will be at the heart of the Commission's €315 billion Investment Plan for Europe. The decision clears a major hurdle on the path to matching ample liquidity reserves with potential investment projects. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, welcomed the news: "I congratulate the Latvian Presidency for their speedy and skilful steering...

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The fees that banks charge retailers to process shoppers’ payments will be capped, under uniform EU-wide rules, further to a vote in Parliament on Tuesday. The cap, which will apply to both cross-border and domestic card-based payments, should result in lower costs for card users. "This legislation, combined with the upcoming Payment Services Directive, will establish a level playing field for payments across Europe. It should enhance fee transparency, stimulate competition and enable both retailers and users to choose...

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"The Obama Administration's trade policy is firmly anchored in Middle Class economics. We are seeking to grow our economy, support good-paying jobs, and strengthen the middle class. The Obama Administration is working to set a new standard, insisting that our values undergird our trade policy today and in the future, promoting strong labor and environmental standards that protect our workers, oceans, and forests." In a report released this week, USTR emphasizes that President Obama's trade policy seeks to promote economic growth,...

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Speech given by Dr. Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank | Money Marketeers in New York | Wednesday, 4 March 2015 Ladies and gentlemen, Thank you for inviting me to speak at a Money Marketeers event today. I would like to give you a brief overview of the current situation in Germany and the euro area. I am particularly looking forward to discussing these issues with you and hearing your perspective. Mutual exchange is essential in a globalised world where...

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The disturbing news from the Pacific is that China continues to beef up construction in disputed territory and spread its brand of “state capitalism.” At the same time, our allies question whether the United States is truly committed to being a world leader. In Europe, Russia continues its belligerence, and Europe is unable to respond effectively because of its dependence on Russian energy. These are just two examples of why we need to strengthen our trade agenda. We need to...

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European Commission - EUROSTAT | 02 March 2015 The Europe 2020 strategy, adopted by the European Council in June 2010, aims at establishing a smart, sustainable and inclusive economy with high levels of employment, productivity and social cohesion. The key objectives of the strategy are expressed in the form of five ambitious targets in the areas of employment, research & development (R&D), climate change & energy, education and poverty reduction, to be reached by 2020. These have been translated into national...

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Speech by Lord Hill, European Commissioner for financial services, financial stability and capital markets union | Securities Industry and Financial Markets Association (SIFMA) | 27 February 2015 NYC Good afternoon ladies and gentlemen. Thank you for inviting me here. I am delighted to be here on my first trip to the US as a new European Commissioner. I've just had two days in Washington DC talking mainly politics and regulation. But I'm someone who doesn't think that you should regulate without...

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The FCC just voted in favor of a strong net neutrality rule to keep the Internet open and free. That happened, in part, because millions of Americans across the country didn't just care about this issue: You stood up and made your voices heard, whether by adding your names to petitions, submitting public comments, or talking with the people you know about why this matters. Read a special thank-you message from the President, then learn more about how we got to...

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Last week, the European Commission—the EU’s executive arm—took the first step toward cementing one of the EU’s fundamentals freedoms:  free movement of capital.  The goal is to break down barriers that block cross-border investments in the EU and prevent businesses from getting adequate access to finance. The EU has launched a green paper as the basis for a three month public consultation on how the Capital Markets Union (CMU) should take shape.  Based on public input, the Commission will...

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European Commission - Speech | Brussels, 23 February 2015 | Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs. ] Mesdames, Messieurs, Je vous souhaite la bienvenue à cette conférence organisée conjointement par mes services et le Fonds Monétaire International. Cet événement est un bel exemple de collaboration entre nos deux institutions pour lesquelles la croissance, la création d'emplois et l'investissement sont des priorités essentielles. Je vous remercie d'être venus si nombreux en ce début d'après-midi et je salue tout particulièrement...

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