The US dollar continues to cede ground to nontraditional currencies in global foreign exchange reserves, but it remains the preeminent reserve currency Blog post by Serkan Arslanalp, Barry Eichengreen , Chima Simpson-Bell | Dollar dominance—the outsized role of the US dollar in the world economy—has been brought into focus recently as the robustness of the US economy, tighter monetary policy and heightened geopolitical risk have contributed to a higher greenback valuation. At the same time, economic fragmentation and the potential reorganization of global economic...

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Updated projection for the composition of the new Parliament based on final and provisional results in 26 countries and pre-electoral data for one (as of 11.38).     2024 provisional results as of 10 June at 11:38 The above projection is based on: final results from 12 EU member states: Belgium, Croatia, Cyprus, Czechia, France, Germany, Greece, Lithuania, Luxembourg, Malta, Poland, Slovakia; provisional results from 14 countries: Austria, Bulgaria, Denmark, Estonia, Finland, Hungary, Italy, Latvia, Netherlands, Portugal, Romania, Slovenia, Spain, Sweden; and pre-electoral...

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The EU institutions are playing their part to defend the European elections on 6-9 June against disinformation and information manipulation targeting European democracy. The European elections are a flagship of European democracy. As documented by e.g. the European Digital Media Observatory, disinformation actors from inside and outside the EU seek to undermine the integrity of the electoral process, trust in democratic processes at large and sow division and polarisation in our societies. According to the Eurobarometer, 81% of the EU citizens...

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Today and tomorrow, the European civil protection community will discuss lessons learned and ways forward in civil protection during the 8th edition of the European Civil Protection Forum. The European Commission is organising this conference under the theme of shaping a disaster-resilient Union: charting a path for the future of European civil protection. The event will be a timely opportunity to look back at what has been achieved by the Union Civil Protection Mechanism, and to generate ideas for development, innovation...

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Today the Commission has unveiled the AI Office, established within the Commission. The AI Office aims at enabling the future development, deployment and use of AI in a way that fosters societal and economic benefits and innovation, while mitigating risks. The Office will play a key role in the implementation of the AI Act, especially in relation to general-purpose AI models. It will also work to foster research and innovation in trustworthy AI and position the EU as a leader in...

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Acceptance Speech by Kristalina Georgieva, IMF Managing Director, Venice, Italy President Mattarella, Governor Visco, Mayor Brugnaro; Professors Lippiello and La Malfa; Commissioner Gentiloni; all of you who have come here today: I am deeply grateful for your presence and for the honor of being the first recipient of the Ugo la Malfa Prize for International Cooperation from the Università Ca Foscari Venezia, the Enciclopedia Treccani, and the Fondazione Ugo La Malfa. I will cherish it and will work hard to serve our family of...

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The Council has today adopted a regulation on establishing a framework of measures for strengthening Europe's net-zero technology manufacturing ecosystem, better known as the 'net-zero industry act'. This is the last step in the decision-making process. The regulation aims to boost the industrial deployment of net-zero technologies that are needed to achieve the EU's climate goals, using the strength of the single market to reinforce Europe’s position as a leader in industrial green technologies. "The net-zero industry act is one of the...

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Developed countries provided and mobilised USD 115.9 billion in climate finance for developing countries in 2022, exceeding the annual 100 billion goal for the first time and reaching a level that had not been expected before 2025. According to new figures from the OECD, in 2022 climate finance was up by 30% from 2021, or by USD 26.3 billion. This is the biggest year-on-year increase to date and means that the 100 billion mark was reached a year earlier than...

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Meeting the continent’s emission reduction targets could enhance energy security metrics by 8 percent by 2030—and that would be just the start Blog post by Geoffroy Dolphin, Romain Duval, Galen Sher, Hugo Rojas-Romagosa | Russia’s invasion of Ukraine triggered Europe’s worst energy crisis since the 1970s and put energy security back at the top of the policy agenda. Policymakers reacted swiftly by securing alternative natural gas supplies, improving energy efficiency, and expanding renewables. Reducing greenhouse gas emissions would, they said, not only mitigate climate...

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