28 Jun
Chapter News

OECD Economic Outlook reveals heavy global price of Russia’s war against Ukraine

Watch the live webcast of the press conference Russia’s invasion of Ukraine immediately slowed the recovery from the COVID-19 pandemic and set the global economy on a course of lower growth and rising inflation. The OECD’s latest Economic Outlook projects global growth to decelerate sharply to around 3% this year and 2.8% in 2023, well below the recovery projected in the previous Economic Outlook last December. The economic and social impact of the war is strongest in Europe, with many of the...

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28 Jun
Chapter News

ECB | Price stability and policy transmission

The euro area is facing a complex mix of shocks which are reducing growth and pushing up inflation, says President Christine Lagarde. In this environment, it is imperative for policymakers, within their respective mandates, to address the risks to the economic outlook. Speech by Christine Lagarde, President of the ECB, at the ECB Forum on Central Banking 2022 on “Challenges for monetary policy in a rapidly changing world” in Sintra, Portugal | Sintra, 28 June 2022 | Inflation in the euro...

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27 Jun
Chapter News

European Council, 23-24 June 2022

On 23-24 June 2022, the European Council adopted conclusions on Wider Europe, Ukraine, the membership applications from Ukraine, the Republic of Moldova and Georgia, Western Balkans, economic issues, Conference on the Future of Europe and external relations. European Council conclusions, 23-24 June 2022 Remarks by President Charles Michel following the second session of the European Council, 24 June 2022 Ahead of the European Council meeting, EU and Western Balkan leaders met in the morning of 23 June 2022 in Brussels. ...

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27 Jun
Chapter News

ESMA publishes results of its Call for Evidence on ESG ratings

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today publishes a letter to the European Commission (EC) providing its findings from the Call for Evidence to gather information on the market structure for ESG rating providers in the European Union (EU). Key findings ESMA received a total of 154 responses and found 59 ESG rating providers currently active in the EU. The analysis of the responses further indicated several characteristics and trends as follows: ESG rating providers...

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27 Jun
Chapter News

Joint Statement by President von der Leyen and President Biden on European Energy Security

Following the further invasion of Ukraine, Russia continues to use natural gas as a political and economic weapon. Russia's energy coercion has put pressure on energy markets, raised prices for consumers, and threatened global energy security. This was most recently demonstrated by the politically motivated acute disruptions of gas supplies to several European Union Member States. These actions only underscore the importance of the work both the United States and the European Commission are doing to end our reliance...

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27 Jun
Chapter News

Joint statement by Vice-President for Interinstitutional Relations and Foresight Maroš Šefčovič, and Jan Christian Vestre, Norway’s Minister of Trade and Industry

Vice-President for Interinstitutional Relations and Foresight, Maroš Šefčovič, and Jan Christian Vestre, Norway's Minister of Trade and Industry, have released the following joint statement on enhanced political and industrial cooperation on the strategic value chains of batteries and raw materials. The European Union and Norway enjoy a deep and long-standing relationship as neighbours and partners, sharing common political objectives and fundamental values, while being part of the Single Market through the European Economic Area (EEA). Given the urgent need to tackle...

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27 Jun
Member News

Re-assessing the Technology Risk Mosaic

By R.K. Gardner, New World Technology Partners | Digital technology, often expressed as Information and Communications Technology (ICT) embodies a more expansive and vulnerable array of elements than has been considered in traditional cyberspace. The pace of introduction and (often hasty) adoption of new and emerging technologies, applications and information artifacts, upon which enterprises and government institutions/agencies rely to conduct business, has become a global system-of-systems, composed of numerous interdependent components and myriad channels. They operate in a rapidly changing...

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24 Jun
Chapter News

European Council conclusions on Ukraine, the membership applications of Ukraine, the Republic of Moldova and Georgia, Western Balkans and external relations, 23 June 2022

II. UKRAINE 4. The European Council discussed the Russian war of aggression against Ukraine in its different dimensions. The European Council reiterates that it firmly stands with Ukraine and that the European Union will continue to provide strong support for Ukraine’s overall economic, military, social and financial resilience, including humanitarian aid. 5. The European Council resolutely condemns Russia’s indiscriminate attacks against civilians and civilian infrastructure, and urges Russia to immediately and unconditionally withdraw all its troops and military equipment from the...

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24 Jun
Chapter News

Hydrogen & electric-powered aircraft: Towards Zero-Emission Aviation – Blog of Commissioner Thierry Breton

The aviation sector, like many others, has been heavily impacted by the COVID shock. It is now confronted with the fall-out of Russia's military actions against Ukraine. But we must look ahead. Gone are the days when the aviation sector ignored its responsibility for global warming. Just recall the commitments taken as part of “Destination 2050”. For the first time, the sector presented a pathway for a climate neutral sector that combines new technologies, improved operations, sustainable aviation fuels and economic...

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24 Jun
Member News

Arendt & Medernach | Cross-border home working: different taxation rules starting 1 July 2022

What does this mean for your company? The special bilateral agreements signed between Luxembourg and the Belgian, French and German authorities concerning cross-border workers in the context of the COVID-19 pandemic will come to an end on 30 June 2022 – including, in principle, their social security exemptions (unless the relevant agreements are once again extended). As a consequence, from 1 July 2022, the general rules on the taxation of employment income received by Belgian, French and German cross-border commuters (i.e.,...

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