Chapter News

European Commission | Eurobarometer Survey Shows Positive Perceptions About the Economy and the Quality of Life in the EU Regions

On March 25th the Commission published a Flash Eurobarometer conducted at the regional level, showing that EU citizens look positively at the economic situation and the quality of life in their region. Over eight out of ten Europeans (82%) say that the quality of life in their region is good. At the same time, 65% of Europeans say that the current situation of the economy of their region is good. Europeans tend to think that the most important issues facing their region at the moment are the cost of...

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Chapter News

IMF | Executing a Soft Landing for a Lasting Recovery [in Europe]

Speech by Alfred Kammer, Director - European Department, IMF  |  Thank you, Dean Muštra, for your opening remarks and Governor Vujčić for the invitation to attend this year’s Regional Governors’ Meeting in Split. Today’s gathering comes two years after Russia’s invasion of Ukraine, a subsequent energy-price roller coaster, and the advent of a more fragmented global economy. Against this backdrop Europe has done well, because governments acted fast and decisively. Unemployment rates have remained low, inflation has declined sharply, and the EU announced a new...

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Member News

Trepp | European Market Update: Rise in Defaults; CLO Deals Priced; CRE Valuations Slump

The European Central Bank (ECB) unveiled a new framework on Wednesday last week that should make its balance sheet “financially sound”, according to the Financial Times. Banks will be incentivized to lend to each other, and safety nets will be provided to limit the risk that lenders could run out of cash. Additionally, the ECB aims to keep the interbank rate relatively close to its deposit rate which currently sits at 4%, as reported by Reuters. Rise in Defaults An increased number of...

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Chapter News

IMF | More Work is Needed to Make Big Banks Resolvable

Blog post by Tobias Adrian and Marc Dobler |  Almost a year ago, Credit Suisse, a globally systemic bank with $540 billion in assets and the second-largest Swiss lender, founded in 1856, failed and was sold to UBS. In the United States, Silicon Valley Bank, Signature Bank and First Republic Bank failed at around the same time amid Federal Reserve interest rate hikes to contain inflation. With a combined $440 billion of assets, these were the second, third, and fourth biggest bank resolutions since the...

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Chapter News

EU Commission | Improving the quality of traineeships in the EU

Trainees all over the EU will benefit from better quality traineeships thanks to new Commission proposals. They will improve and enforce working conditions for trainees, and ensure everyone can do a traineeship regardless of their socio-economic background or disability, by: improving learning content ensuring fair pay helping trainees claim their labour rights recommending access to adequate social protection combatting regular jobs disguised as traineeships creating channels to report malpractice and poor working conditions promoting equal access to traineeship opportunities allowing...

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Member News, Uncategorized

Wilson Sonsini | EU Court of Justice Landmark Ruling on Digital Advertising and GDPR Compliance

On March 7, 2024, the European Court of Justice (CJEU) issued a landmark ruling on digital advertising and the concepts of personal data and joint controllership under the General Data Protection Regulation (GDPR). The CJEU held that i) character strings used to express users’ preferences collected via the Transparency and Consent Framework (TCF) of Interactive Advertising Bureau Europe (IAB) constitute personal data under the GDPR and ii) IAB acts as a joint controller with TCF participants for the processing of users’ preferences....

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Member News

Bannockburn Global Forex | Market Hears a Dovish Fed and Sells the Greenback

The Federal Reserve triggered a dollar sell-off yesterday and follow-through selling was seen in Asia before profit-taking emerged. That created a new dollar selling opportunity in early European turnover. The FOMC revised up this year's growth forecast, shaved the unemployment projection, and while maintaining the PCE deflator forecast, and the median dot remained for three cuts this year. The soft-landing scenario was underscored and excited risk appetites. The G10 currencies are mixed ahead of the North American open. The...

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Member News

AICEP Portugal Global | Made in Portugal car at the Olympics

A made in Portugal car will gain visibility at the Paris 2024 Olympic and Paralympic Games to be held on July 26th to August 11th. The electric vehicle (EV), that was designed specifically for the Paris 2024 Olympic and Paralympic Games, is an Accessible People Mover (APM), that is intended for transporting people with reduced mobility and for freight transport. The Toyota plant in Portugal will produce 250 Accessible People Mover EVs under the Recovery and Resilience Program (PRR), that represents...

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Chapter News

OECD | Steady Progress in the Implementation of the BEPS Action 6 Minimum Standard: Latest Peer Review Results

Members of the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework) continue to make steady progress in the implementation of the BEPS package to tackle international tax avoidance, as the OECD releases the latest peer review report assessing jurisdictions' efforts to prevent tax treaty shopping and other forms of treaty abuse under Action 6 of the OECD/G20 BEPS Project. A revised peer review document forming the basis of the assessment of the BEPS Action 6 minimum standard was also released today. The sixth peer review report on...

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Member News

AlixPartners | Retail Viewpoint: How to Alleviate Inventory Issues in the Short and Long Term

We’ve spoken of shifts in consumer sentiment and spending habits as a pandemic- and post-pandemic phenomenon, but it’s clear they are no longer just trends: these changes are here to stay. Retailers are facing the pressure as inflation has decreased consumer spend while heightened interest rates have made capital more expensive than it has been in quite some time. Geopolitical tensions further exacerbate concerns as the Suez and Panama Canals, two of the world's major supply chain channels, are operating well...

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