18 Dec
Brexit News, Chapter News

Speech by Michel Barnier in plenary session of the European Parliament Today

Madame President, Ladies and Gentlemen, Thank you for this new opportunity to take stock of this very long and extraordinary negotiation that I have the honor to lead on behalf of the Commission and on your behalf for more than four years now. Together, with your Parliament and the Council, we have already succeeded in enabling an orderly withdrawal of the United Kingdom, as it wished. It is for this withdrawal agreement that Maroš Šefčovič has just spoken of,...

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17 Dec
Member News

Stibbe | Gatecrashing gatekeepers? The EU’s digital reform is out

Christmas is a time for contemplation, and the proposals of the long-awaited Digital Markets Act and Digital Services Act may give gatekeepers and other online intermediaries even more reason to be pensive this year. The proposals introduce more rules for them to abide by, while also providing greater safeguards to fair competition and online users. Even though it will likely be another year before the Acts become effective, online intermediaries may already wish to begin considering their internal processes and business policies...

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17 Dec
Member News

IPTI | Update on Property Tax Issues: December 2020

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). USA California: Prop. 13 Still the Third Rail? Not Exactly Proposition 13 is still the third rail of California politics,” crowed Jon Coupal in the headline of an...

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17 Dec
Member News

Houthoff | Arbitration: The 2021 ICC Rules

On 1 December 2020, the International Court of Arbitration of the International Chamber of Commerce (''ICC'') officially launched its revised Rules of Arbitration, which will enter into force in January 2021. This News Update provides a brief overview of the key changes made in these new rules. Strengthening the integrity of ICC arbitrations The 2021 ICC Rules aim to improve the integrity of the proceedings. Article 11(7), for example, introduces a requirement for the parties to disclose the existence and identity of...

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17 Dec
COVID-19 News, Member News, New York Related News

RPJ | Covid-19 Regulations: Where We Are and Where We Are Headed

Introduction The rollercoaster ride of 2020 has sure had its ups and downs, and 2021 is destined to continue this trend with regulatory action expanding and contracting in order to attempt to contain the spread of Covid-19 while balancing the desire to keep the economy going. This guide examines regulations that have been put in place primarily in New York to deal with Covid-19, but also throughout the United States, and projects future regulatory and related trends and repercussions that...

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17 Dec
Chapter News

IMF | What is really new in Fintech ?

The financial industry is undergoing rapid technological change. Traditional banks face competition from online start-ups with no physical branches. Social media and other digital platforms are expanding into payments and credit. The increase in demand for digital services triggered by COVID-19 is turbo-charging this transformation. The confluence we are witnessing is driving fintech innovation and raises important questions. What are the transformative aspects of recent financial innovation that can uproot finance as we know it? Which new policy challenges...

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17 Dec
Chapter News

Agriculture and Fisheries Council, 15-16 December 2020

Main results - Fisheries 2021 fishing opportunities Ministers agreed the catch limits for over 200 commercial fish stocks in the Atlantic, the North Sea, the Mediterranean and the Black Sea for 2021. More than 100 of these stocks in the Atlantic and North Sea have been co-managed with the UK during the last decades. Given the ongoing EU-UK negotiations on their future relationship, ministers agreed to set provisional quotas for the fish stocks shared with the UK. The provisional quotas are...

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17 Dec
Chapter News

Council of the EU | Multiannual financial framework for 2021-2027 adopted

Following the European Parliament's consent yesterday, the Council has adopted the regulation laying down the EU's multiannual financial framework for 2021-2027. The regulation provides for a long-term budget of €1 074.3 billion for the EU27 in 2018 prices, including the integration of the European Development Fund. Together with the Next Generation EU recovery instrument of €750 billion, it will allow the EU to provide an unprecedented €1.8 trillion of funding over the coming years to support recovery from the COVID-19...

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16 Dec
Chapter News

Eurosystem staff macroeconomic projections for the euro area, December 2020

How will our economy evolve over the next few years? The ECB and Eurosystem staff produce quarterly macroeconomic projections. These aim to assess how the economy in the euro area will develop. Today we again published a baseline scenario as well as two alternative scenarios, taking into consideration the high uncertainty surrounding the impact of the coronavirus on the eurozone economic outlook Overview Following a drop of 15.0% in the first half of 2020, euro area real GDP rebounded by 12.5% in...

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16 Dec
Chapter News, COVID-19 News

Coronavirus response: Tackling non-performing loans (NPLs) to enable banks to support EU households and businesses

The European Commission has today presented a strategy to prevent a future build-up of non-performing loans (NPLs) across the European Union, as a result of the coronavirus crisis. The strategy aims to ensure that EU households and businesses continue to have access to the funding they need throughout the crisis. Banks have a crucial role to play in mitigating the effects of the coronavirus crisis, by maintaining the financing of the economy. This is key in order to support the EU's economic...

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