Chapter News

IMF | Why Climate Change Vulnerability Is Bad for Sovereign Credit Ratings

Climate change has made the world a riskier place. The destruction wrought by heatwaves, droughts, hurricanes, and coastal flooding doesn’t stop with the toll on human lives and livelihoods—it can also have deep consequences for a country’s finances. Recent IMF staff research has found that a country’s vulnerability or resilience to climate change can have a direct effect on its creditworthiness, its costs of borrowing, and, ultimately, the likelihood it might default on its sovereign debt. 'Financial risks created by climate change are felt...

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Member News

Houthoff | The Digital Services Act & the Digital Markets Act

Recently, the European Commission announced two new regulations, known as the Digital Services Act (DSA) and the Digital Markets Act (DMA). These regulations aim to set new rules governing the digital market in the European Union. According to the European Commission, the DSA is required to safeguard a digital space that respects Internet users' fundamental rights when using digital services. Furthermore, the legislators seek to establish a level playing field allowing further innovation, growth, and competitiveness in the digital sector. While the DSA introduces...

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Member News

IPTI | Update on U.S. & European Property Tax Issues: February 2021

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org). UNITED STATES New York: De Blasio to revive property tax reform At a state Senate hearing, de Blasio committed to restarting hearings on fixing the oft-derided system and...

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Member News

MJV | Discover the practical applications of AR and VR in various sectors

Let’s start this article with some interesting facts about Virtual Reality (VR). In 2020, Apple acquired a Virtual Reality event streaming company called NextVR. This company records events like shows and sports games in VR and develops its first headset to be launched in 2022. According to Bloomberg, this is a more ambitious augmented reality product that will present an interactive 3D digital environment for games, watching videos, and virtual communication.Tim Cook, Apple’s CEO, says that both VR and AR...

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Member News

ACG Resources | Should you extend a Counter Offer to an Employee who resigns?

Most employers are increasingly concerned about the retention of key and non-key employees. When an employee leaves, it can be expensive to replace them, not to mention the loss of productivity and knowledge. A recent study has shown that many currently employed workers are unhappy in their current position. Some of the primary reasons for this unhappiness are the general feeling of being unappreciated and the thought that the grass is greener elsewhere. Given this situation, some sectors may experience a...

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Chapter News

ECB | Greening monetary policy

Blog post by Frank Elderson, Member of the Executive Board of the ECB, 13 February 2021 | Climate change requires urgent action, and the window of opportunity is closing fast. The ECB must be committed to doing its part. Yet, such commitment may raise a few eyebrows: why should the ECB care about climate change and how does that square with its mandate? These are important questions that we take seriously: the European Union is underpinned by the rule of...

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Chapter News

Remarks by Paschal Donohoe following the Eurogroup video conference of 15 February 2021

Good evening to all of you. Before I debrief you on today's Eurogroup, let me mention that we had the chance to welcome two new colleagues to our meeting today - the new Italian minister, Daniele Franco, whose government was just sworn in this weekend, and indeed, it was his first day in his new role. And the new Estonian minister, Mrs. Keit Pentus-Rosimannus, who presented the policy priorities of the new Estonian government. The Commission also presented its...

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Chapter News

Winter 2021 Economic Forecast: A challenging winter, but light at the end of the tunnel

Europe remains in the grip of the coronavirus pandemic. The resurgence in the number of cases, together with the appearance of new, more contagious strains of the coronavirus, have forced many Member States to reintroduce or tighten containment measures. At the same time, the start of vaccination programmes throughout the EU provides grounds for cautious optimism. Economic growth poised to recover as containment measures ease The Winter 2021 Economic Forecast projects that the euro area economy will grow by 3.8% in both 2021...

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Member News

Littler | What to do about “Global COVID Nomads” and Other Wandering Workers Who Telecommute from Abroad for Personal Reasons

Technology facilitates remote work in ways that, years ago, just were not possible. Take telecommuting. These days, all kinds of jobs that had to be performed at an employer site are now performed remotely. Some call center workers, for example, now work from home using home telephones — no brick-and-mortar call center needed. Some secretaries now telecommute using laptops and the internet. Some teachers now teach remotely using laptops and video links. There are architects, doctors, lawyers and judges who, these...

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Member News

WSGR | EDPB Publishes New Guidance for Data Breach Notification

On January 18, 2021, the European Data Protection Board (EDPB), comprised of all national supervisory authorities (SAs) of the European Union, published draft guidelines for data breach notification1 (the Guidelines). The Guidelines provide useful insight into how regulators apply the General Data Protection Regulation (GDPR) personal data breach notifications rules. Specifically, they describe six common types of personal data breaches (i.e., ransomware, data exfiltration attacks, internal human risk, lost or stolen device and paper documents, misposted data, and social engineering attacks), and...

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