25 Jan
Member News

EIB | The EFSI Legacy: Doing more with less

The European Fund for Strategic Investments has been one of the good news stories to emerge in a decade of economic uncertainty. It has gone well beyond its highly ambitious target of €500 billion in mobilised investments. The Juncker Plan has made a strong contribution to the 14 million jobs created in the EU between 2015 and 2020. EFSI has become a success in co-financing projects that otherwise might not have been carried through. It has also charted the path...

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22 Jan
Chapter News

U.S. Fed Speech | Full Employment in the New Monetary Policy Framework

Speech by Governor Lael Brainard at the Inaugural Mike McCracken Lecture on Full Employment Sponsored by the Canadian Association for Business Economics (via webcast) | I want to thank the Canadian Association for Business Economics for inviting me to join you today, particularly president Bonnie Lemcke and past president Armine Yalnizyan. It is a pleasure to be here with Carolyn Wilkins. I am honored to deliver the inaugural Mike McCracken Lecture on Full Employment.1 Widely known for his critical contributions in bringing...

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22 Jan
Chapter News

Euro banknote counterfeiting at historically low level in 2020

460,000 counterfeit euro banknotes withdrawn from circulation in 2020, a historically low level in proportion to banknotes in circulation About two thirds of the total were €20 and €50 banknotes Euro banknotes continue to be a trusted and safe means of payment All euro banknotes can be verified using the “feel, look and tilt” method Some 460,000 counterfeit euro banknotes were withdrawn from circulation in 2020 (220,000 in the second half of the year), a decrease of 17.7% when...

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22 Jan
Chapter News

Results of the ECB Survey of Professional Forecasters in the first quarter of 2021

Shorter-term inflation expectations largely unchanged; longer-term inflation expectations unchanged at 1.7% Opposing revisions to real GDP growth outlook, with near-term forecasts revised down but stronger rebound envisaged thereafter Unemployment rate expectations revised down across all horizons Respondents to the European Central Bank (ECB) Survey of Professional Forecasters (SPF) for the first quarter of 2021 reported point forecasts for annual HICP inflation averaging 0.9%, 1.3% and 1.5% for 2021, 2022 and 2023 respectively. These were unchanged for both 2021 and...

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22 Jan
Member News

Vulcan Insight | “This is a time of testing” – The United States’ 46th President, Ireland & Europe

Undoubtedly, the most pressing issue on President Joseph R. Biden’s agenda is the COVID-19 pandemic which, in his own words, “silently stalks” both the United States and the globe. Remarks he made during his inauguration speech that the US may be entering “the toughest and deadliest period of the virus” coupled with Thursday’s sobering headlines that the number of American virus related deaths had surpassed the country’s troop fatalities in World War II, only serve to underscore the point. To...

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22 Jan
Member News

FTI | New and Evolving Threats: Cybersecurity Flashpoints in 2021

The global leaders of FTI Consulting’s Cybersecurity practice analyzed major developments from their respective regions — including the fallout of the U.S. Presidential Election, Brexit, and the upcoming Tokyo Olympics — to forecast what to expect in the coming year. Cybersecurity, already an essential consideration for all organizations, became even more critical in 2020, as malicious actors sought to capitalize on the societal confusion, fear, and uncertainty sown by a global pandemic. Organizations and individuals alike were targeted with sophisticated...

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22 Jan
Member News

H&K Law | Looking Ahead at the 2021 Tax Policy Landscape

After Inauguration Day on Jan. 20, 2021, and with the seating of the two newly elected Democratic senators from Georgia, Democrats will have control of the White House and both houses of Congress for the first time since 2011. The narrow margin by which the Democrats hold both houses, however, will restrain what tax proposals can become law, either through regular order or a budgetary reconciliation process. This Holland & Knight alert outlines the tax policy priorities of...

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21 Jan
Member News

IPTI | Update on U.S. & European Property Tax Issues: January 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: NYC Property Values Decline 5% as Offices and Hotels Stand Empty Office building values drop 6%: finance department Decrease in property value is...

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21 Jan
Chapter News

EU tax haven blacklist is not catching the worst offenders

Criterion to judge if a country’s tax system is fair or not needs to be widened Countries should not be removed from the blacklist if they only make symbolic tweaks A 0% tax rate policy should automatically lead to being placed on the blacklist List has to be formalised through a legally binding instrument by end 2021 MEPs adopted a resolution pushing for the system used to draw up the EU list of tax havens to be changed, as...

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21 Jan
Chapter News

‘Right to disconnect’ should be an EU-wide fundamental right, MEPs say

‘Always on’ culture leads to increased risk of depression, anxiety and burnout EU law to define minimum requirements for remote working No repercussions for workers who exercise their ‘right to disconnect’ Parliament calls for an EU law that grants workers the right to digitally disconnect from work without facing negative repercussions. In their legislative initiative that passed with 472 votes in favour, 126 against and 83 abstentions, MEPs call on the Commission to propose a law that enables those who...

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