Downside risks to global and euro area economic growth have increased and continue to create financial stability challenges, according to the November 2019 Financial Stability Review (FSR) of the European Central Bank (ECB). Low interest rates should support economic activity in the euro area, but may also encourage excessive risk-taking by some non-bank financial institutions and highly leveraged non-financial corporations, and in some real estate markets. “While the low interest rate environment supports the overall economy, we also note an increase...

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Ian Steff, Deputy Assistant Secretary for Manufacturing, Performing the non-exclusive functions and duties of the Assistant Secretary of Global Markets and Director General of the United States and Foreign Commercial Service, recently led the U.S. delegation to Berlin, Germany for the U.S.-Germany Informal Commercial Exchange (ICE). The talks were held with senior German officials to discuss ways to further strengthen the substantial U.S.-German economic ties and expand cooperation on the investment environment. The delegation was hosted by Dr. Eckhard...

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The European Commission published today its proposal for an EU-US agreement on conformity assessment for industrial products, in line with its commitment to enhanced transparency in trade negotiations. A product exported between the two sides often has to undergo an assessment to demonstrate that it complies with the technical and safety requirements of the importing party, a so-called 'conformity assessment'. This often means additional costs for exporters, which is especially burdensome for smaller companies, who often decide not to export...

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The European Parliament will vote on Ursula von der Leyen’s college of Commissioners next Wednesday 27 November, paving the way for the new Commission to start work on 1 December. The vote will take place during the Plenary session in Strasbourg, following the approval by the Council of the list of 27 Commissioners on Friday 22 November. The UK has declined to nominate a Commissioner before the general election on Thursday 12 December, despite having agreed to do so as...

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As in the rest of the world, European trade and manufacturing have weakened. There are some signs that this slowdown is spreading into the rest of the economy. While services and consumption have remained relatively resilient in line with strong labor markets, investment is starting to lose steam. These developments have slowed economic activity in the region, especially in advanced Europe, according to the IMF’s latest health check of Europe’s economy. The report predicts growth will moderate from 2.3 percent in 2018 to 1.4...

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