10 Apr
Chapter News

Report on the comprehensive economic policy response to the COVID-19 pandemic

April 9, 2020 | 23:05 1. The COVID-19 pandemic constitutes an unprecedented challenge with very severe socio-economic consequences. We are committed to do everything necessary to meet this challenge in a spirit of solidarity. 2. A coordinated and comprehensive strategy is necessary to deal with health emergency needs, to support economic activity and to prepare the ground for the recovery. This strategy should combine short, medium and long-term initiatives, taking account of the spill overs and interlinkages between our economies and...

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09 Apr
Member News

Cuatrecasas: OECD Secretariat weighs the effect of COVID-19 crisis on tax treaties

April 8, 2020 • At the request of several countries, OECD Secretariat releases document analyzing how this crisis affects double tax treaties, dealing with issues related to permanent establishments, tax residence and cross border workers. • The guidance included with the document does not depart from the Commentaries on the OECD Model Convention and, in general terms, embraces the exceptionality of the situation to play down the impact of the crisis. • The document also refers to measures and interpretations followed by...

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09 Apr
Member News

BreakingViews: Recovery requires greater cooperation

Come together April 7, 2020 The coronavirus threatens thousands, possibly millions of lives across the globe. It is first and foremost a health crisis and the disease must be beaten, and the curve of Covid-19’s spread must be flattened for our lives to return to something approaching normalcy. But what of the economic damage, our governments’ responses, and the outlook going forward? Should we expect a V-shaped recovery – a rapid rebound from an economic standstill? In our view it is increasingly...

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09 Apr
Chapter News

Confronting the Crisis: Priorities for the Global Economy

A message from Kristalina Georgieva, IMF Managing Director | April 9, 2020 Introduction: A Crisis Like No Other I want to begin by wishing my personal best to everyone—for you and your families’ health and safety during these difficult times. Today we are confronted with a crisis like no other. Covid-19 has disrupted our social and economic order at lightning speed and on a scale that we have not seen in living memory. The virus is causing tragic loss of life, and the...

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09 Apr
Chapter News

Coronavirus: EU global response to fight the pandemic

April 8, 2020 Today, the European Commission and the High Representative set out plans for a robust and targeted EU response to support partner countries' efforts in tackling the coronavirus pandemic. The EU's collective action will focus on addressing the immediate health crisis and resulting humanitarian needs, strengthening partner countries' health, water and sanitation systems and their research and preparedness capacities to deal with the pandemic, as well as mitigating the socioeconomic impact. To underpin these actions, the EU will...

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08 Apr
Member News

Orrick: The European Antitrust Enforcers’ response to the Covid-19 outbreak, Antitrust rules will bend, but will not break

March 26, 2020 In a welcomed attempt to align their approaches, the antitrust enforcers of the European Competition Network (ECN)1 have published a brief joint statement on the application of competition law during the Covid-19 crisis. If one may regret that its content remains too high-level, it is an important step, which comes just shortly after the European Commission adopted a specific temporary State Aid framework in order to offer Member States the flexibility required in this exceptional context to support businesses impacted by...

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08 Apr
Member News

RSM: Liquidity scenario planning, Projecting cash flow

April 1, 2020 Surviving in the short term and thriving long-term For many businesses, surviving the COVID-19 economic downturn depends on managing liquidity and, more specifically, managing enterprise cash. The erratic timing and extent of various disruptions caused by the COVID pandemic may reduce cash on hand, threaten future cash flows and curtail the ability of a business to meet immediate obligations. Uncertainty over the ability to pay employees and creditors, to withstand supply chain shocks and to maintain other important operational functions...

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08 Apr
Member News

Vulcan Insight: Divisions deepen as finance ministers fail to agree on rescue package

April 8, 2020 “Beyond differences and geographical boundaries there lies a common interest,” one of the EU’s founding fathers, Jean Monnet, once said. In the fight against COVID-19, questions are being raised where that common interest lies. Ten weeks into the coronavirus outbreak in Europe, EU Finance Ministers met last night via videoconference to devise a coordinated plan to restart Europe’s economy. Yet, two weeks after being tasked with bringing forward concrete solutions by the EU Heads of State and Government,...

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07 Apr
Member News

RPJLaw: Force Majeure & Insurance Provisions for Business Losses Sustained Due to COVID-19

April 3, 2020 As the United States and the rest of the world battle the COVID-19 pandemic, companies across multiple industries have struggled to quickly adapt: They are facing un-meetable contractual deadlines or other requirements and having to shutter some or all of their business activities, conduct furloughs or reductions in force, cancel events and issue refunds. These companies face potential lawsuits from customers, clients and investors, and have and will continue to undergo extensive financial losses as a result of quarantines...

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07 Apr
Chapter News

Digitalisation of freight transport information – Council adopts new rules

April 7, 2020 The Council today adopted new rules which will make it easier for freight transport companies to provide information to authorities in digital form. Increased digitalisation of freight transport and logistics will bring significant cost savings for businesses, and make the transport sector more efficient and sustainable. A provisional agreement was reached between the presidency and the European Parliament on 26 November 2019. The agreed text was endorsed by member states’ ambassadors meeting in the Permanent Representatives Committee (Coreper) on...

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