29 Mar
Chapter News

Slovenia: Concluding Statement of the 2016 Article IV Mission

An export-led economic recovery in 2014-15 raised employment and private consumption and strengthened Slovenia’s external position. Financial stability has improved. However, decisive policy action is required to address significant constraints to growth and mitigate important vulnerabilities. In particular, further measures to repair balance sheets of small and medium enterprises (SME) would help stimulate private investment. A comprehensive fiscal adjustment package is needed to reduce public debt, create room to absorb potential adverse shocks, and prepare for coming demographic challenges....

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28 Mar
Chapter News

IMF Publishes Work on the State of the Global Financial Safety Net

The International Monetary Fund (IMF) today published the paper “The Adequacy of the Global Financial Safety Net,” which the IMF’s Executive Board discussed during an informal session as part of the Fund’s ongoing review of the international monetary system. The paper assesses the strengths, weaknesses and challenges of the Global Financial Safety Net (GFSN) –comprised of international reserves, central bank swap arrangements, regional financing arrangements, Fund resources (complemented by other multilateral and bilateral development partners), and market-based instruments. The paper...

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23 Mar
Chapter News, New York Related News

Energy Efficiency Projects in New York State spur nearly $800 million in private investment and will save customers $341 million in energy costs annually

Governor Andrew M. Cuomo today announced that in the past four years, 112,000 residential and commercial energy efficiency projects have been completed or are currently under development through New York State clean energy programs. These projects will attract $766 million in private investment and will save customers $341 million on their energy bills each year. Homeowners are saving an average of $56 per month on electric and natural gas bills, and building owners are saving an average of $1,023...

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23 Mar
Chapter News

Message from the President of the European Commission following the attacks in Brussels

Brussels, 22 March 2016 I would like to express my deepest sympathy to the people of Brussels, to the many wounded, to the families and loved ones of those cruelly hit by the explosions this morning at Zaventem airport and Maelbeek Metro Station. I would also like to express my full support for and solidarity with the Belgian authorities. I commend the security forces, emergency services and all those who have helped victims and are still doing so now. I would like...

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23 Mar
Member News

Stripe Atlas rocks, but European founders should learn to drive before jumping into a sports car

Daniel Glazer of Fried Frank LLP, weighs in on Stripe’s Atlas program and the considerations European startup founders need to make before deciding to tackle the US market. Many emerging companies considering expanding to the US have asked us about Stripe Atlas, Stripe’s new offering that cost-effectively combines Delaware incorporation, a taxpayer identification number (EIN), a Silicon Valley Bank account and integration with the Stripe payments network. The concept is clever: the eased access it provides to a US bank account and to Stripe is welcome,...

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22 Mar
Member News

E.U. Data Protection: Transatlantic Data Flows and the New “Privacy Shield”

Following the decision of the Court of Justice of the European Union (“CJEU”) in Schrems v Data Protection Commissioner and the subsequent statement of the Article 29 Working Party, transfers of personal data from the European Union (“E.U.”) to the United States (“U.S.”) under the Safe Harbor scheme are regarded as potentially unlawful. The European Commission has recently published a draft adequacy decision and detailed provisions for a proposed new data protection framework for the transfer of personal data known...

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22 Mar
Member News

Anti-Money Laundering and Sanctions Compliance Survey

AlixPartners is pleased to invite you to participate in our 2016 Global Anti-Money Laundering and Sanctions Compliance Survey. Changing regulatory standards and more stringent expectations regarding anti-money laundering and sanctions compliance have shaped a decade of global adjustments for financial institutions. This survey is focused on understanding how financial institutions are dealing with this shifting environment, particularly in light of budgetary constraints. We value your views and appreciate your willingness to take a few minutes to fill out this survey. This...

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22 Mar
Member News

Eighth Edition of Pan-European M&A Study by CMS

The allocation of risk in the design of contracts for mergers and acquisitions continues to favour sellers in Europe. The selling side is in a much stronger negotiating position – that is the conclusion of the eighth CMS European M&A Study. Last year, sellers were more often able to incorporate lower liability caps and shorter warranty periods into agreements, in addition to negotiating other advantageous risk allocation arrangements. "The ongoing terrorist threat, interest rate rises in the US, the...

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22 Mar
Chapter News, Trade & TTIP Related

The Commission publishes further TTIP documents in ongoing transparency commitment

The European Commission today publishes further documents from the ongoing negotiations on a Transatlantic Trade and Investment Partnership (TTIP), in line with its commitment to enhanced transparency in the ongoing trade negotiations with the United States. The documents made public today include the recent EU proposal on regulatory cooperation which the Commission submitted to the United States during the last round of talks in February. Regulatory cooperation is an innovative part and a key pillar of TTIP. Regulatory cooperation with the...

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18 Mar
Chapter News

Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

March 2016 Monetary policy Non-standard monetary policy measures On 10 March 2016 the Governing Council decided on a number of measures in the pursuit of its price stability objective. This set of measures encompasses, inter alia, the launch of a corporate sector purchase programme as an additional component of the asset purchase programme (APP), an increase in the combined monthly purchases under the APP to €80 billion, starting in April 2016 and the launch of a new series of four targeted longer-term...

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