13 June 2023 | Today, the OECD's Forum on Tax Administration (FTA) Pillar Knowledge Sharing Network held its first virtual meeting of what will be a series of peer-to-peer knowledge-sharing events where experts from tax administrations in 'early implementer' jurisdictions will offer high-level practical advice and share lessons learned on administrative and implementation aspects of the Two-Pillar Solution. The first meeting, gathering more than 250 delegates from over 70 countries and jurisdictions, looked at Pillar Two implementation from a change management perspective...

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21 June 2023 | Euro remains second most widely used currency, amid geopolitical risks and high inflation Euro’s share at around 20% across various indicators of international currency use Euro’s global appeal linked to stronger Economic and Monetary Union The international role of the euro was resilient in 2022, with its share across various indicators of international currency use averaging close to 20%. This was one of the main findings in the annual review of the international role of the...

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The European Union (EU) has faced a series of unprecedented and unexpected challenges since the adoption of the Multiannual Financial Framework (MFF) in 2020. Barely out of one of the deepest global economic crises in more than a century, Russia's brutal invasion of Ukraine had huge humanitarian, economic and budgetary consequences. Migration has picked up after the pandemic, putting strains on Member States' reception and integration capacities. Under the New Pact on Migration and Asylum, the Union and the Member...

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Digitalisation has boosted some European firms’ productivity, but many are still on the digital sidelines. That is a pity as faster digital adoption could make our economies much more productive. This ECB Blog post looks at where and how digitalisation can be a gamechanger. Digitalisation promised to be a productivity gamechanger, yet we are still facing a “productivity paradox” at the aggregate level. For decades, rapid advances in digitalisation have coincided with a protracted slowdown in aggregate productivity growth. But...

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The European Commission and the High Representative today published a Joint Communication on a European Economic Security Strategy. This Joint Communication focuses on minimising risks arising from certain economic flows in the context of increased geopolitical tensions and accelerated technological shifts, while preserving maximum levels of economic openness and dynamism. The proposed strategy sets out a common framework for achieving economic security by promoting the EU's economic base and competitiveness; protecting against risks; and partnering with the broadest possible range...

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