14 Sep
Member News

NautaDutilh | New controller-processor guidelines: beware of impact on data processing agreements

Armed with useful flowcharts to help organisations determine their role, the European Data Protection Board (EDPB) has published new guidelines on the concepts of "controller", "processor" and "joint controller". Just over a month ago, the Litigation Chamber of the Belgian Data Protection Authority had published a decision in which it appeared to adopt an extensive interpretation of the concept of "controller"; now, thanks to extensive developments by the EDPB, that interpretation no longer seems to be relevant. In this newsletter, however, we...

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14 Sep
Chapter News, Trade & TTIP Related

IMF | Trade as a Tool for an Efficient Recovery

As economies now look for paths to recovery from the COVID-19 crisis, new evidence reaffirms that policies for more open and trade-integrated economies could significantly benefit domestic competition and ultimately may help lower costs for consumers in emerging and developing economies. A recent Working Paper, building on the Regional Economic Outlook chapter on competition, competitiveness and growth in Sub-Saharan Africa, examines the effect of trade liberalization using a large firm-level dataset covering about 400,000 firms in 83 emerging and developing economies from 2000...

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11 Sep
Member News

Vulcan Insight | Post-Brexit Talks Escalate Over UK Plans to Break Withdrawal Agreement

As the EU chief Brexit negotiator headed to London for the eighth round of post-Brexit negotiations, the underlying tensions between the EU and UK Government finally reached breaking point after a series of aggressions, this week. The deep-seated divisions and mounting tensions between Michel Barnier and his UK counterpart David Frost have become increasingly apparent over the past few weeks, with the two men publicly accusing each other, or the institutions they represent, of everything from stalling progress to refusing to engage with...

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11 Sep
Chapter News, Financing for Development/UN SDG's

Managing Climate Risk in the U.S. Financial System

Report of the Climate-Related Market Risk Subcommittee, Market Risk Advisory Committee of the U.S. Commodity Futures Trading Commission. Below includes the executive summary, while access to the full report can be found here: Managing Climate Risk in the U.S. Financial System Executive Summary Climate change poses a major risk to the stability of the U.S. financial system and to its ability to sustain the American economy. Climate change is already impacting or is anticipated to impact nearly every facet of the economy,...

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11 Sep
Chapter News, Financing for Development/UN SDG's

OECD | Countries must do more to ensure sustainable development of ocean activities

Countries need to work together to defend the ocean from a steady rise in temperature, pollution and overfishing that threatens its ability to continue supporting marine life and providing food and income to billions of people, according to a new OECD report. Sustainable Ocean for All: Harnessing the benefits of sustainable ocean economies for developing countries says that with ocean-related economic sectors forecast to grow rapidly over the next decade, ensuring this development takes place in a sustainable way is...

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11 Sep
Chapter News, COVID-19 News

Countries have responded decisively to the COVID-19 crisis, but face significant fiscal challenges ahead

03/09/2020 - Governments have taken unprecedented fiscal action in response to the COVID-19 crisis, but countries will need to support economic recovery in the face of significantly increasing fiscal challenges, according a new OECD report. Tax Policy Reforms 2020 describes the latest tax reforms across OECD countries, as well as in Argentina, China, Indonesia and South Africa. The report identifies major tax policy trends adopted before the COVID-19 crisis and takes stock of the tax and broader fiscal measures introduced...

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11 Sep
Chapter News

Addressing COVID-19: Council of the EU approves €6.2 billion budget increase for 2020

Today, the Council agreed to add €6.2 billion to the EU 2020 budget to address the impact of the COVID-19-crisis and to fund inter alia the vaccine strategy. The Council adopted draft amending budget No 8 for 2020 by written procedure. The revised budget increases payments for the Emergency Support Instrument (ESI) by €1.09 billion to ensure the development and deployment of a COVID-19 vaccine. The European Commission will use this money as a down-payment for pre-ordering vaccine doses. Draft amending budget No 8 also...

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11 Sep
Chapter News

IMF | Event of the Finance Ministers on Financing for Development in the Era of COVID-19 and Beyond

By Kristalina Georgieva, IMF Managing Director, Washington, DC | As prepared for delivery I would like to start by thanking Minister Freeland in her new role as Finance Minister. And my thanks to Finance Minister Clarke of Jamaica, and to Deputy Secretary-General Amina Mohammed. I will focus my remarks today on two issues. One, the outlook for the world economy. And two, the implications of this outlook for what we must collectively do. On the outlook, since we last met in the end...

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10 Sep
Chapter News, COVID-19 News

France and Germany facing European challenges in the crisis

Speech by François Villeroy de Galhau, Governor of the Banque de France | Berlin Academy – Berlin, 10 September 2020 Ambassador Descôtes Professors Schwan, Göring, Kaplan, Ladies and gentlemen, I am very pleased to be with you today, despite the obstacles related to Covid. The Berlin Academy is one of the essential forums where Franco-German relations, which are at the heart of the European project, can be deepened over time. I am completely convinced of this. I am French, but my family's roots...

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10 Sep
Brexit News

Statement by Michel Barnier following Round 8 of negotiations for a new partnership between the European Union and the United Kingdom

London, September 10 | By Michel Barnier The eighth round of negotiations on the future EU-UK partnership took place in London this week. The EU remains committed to an ambitious future partnership with the UK. This would clearly be to the benefit of both sides. Nobody should underestimate the practical, economic and social consequences of a “no deal” scenario. In order to maximise the chances of a deal, the EU has shown flexibility to work around the UK's red lines and find solutions...

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