Transatlantic News

Transatlantic News

Chapter News

ECB’s Governing Council says that exceptional circumstances justify leverage ratio relief

ECB’s Governing Council confirms exceptional circumstances Opinion instrumental in ECB Banking Supervision’s decision to allow banks to exclude central bank exposures from leverage ratio See also ECB Banking Supervision announcement on leverage ratio The Governing Council of the European Central Bank (ECB) has decided that it concurs with ECB Banking supervision that there are ‘exceptional circumstances’ allowing the temporary exclusion of certain central bank exposures from the leverage ratio. The Governing Council said in an opinion: “The situation brought about...
Chapter News

NextGenerationEU: EU Commission presents next steps for €672.5 billion Recovery and Resilience Facility in 2021 Annual Sustainable Growth Strategy

The European Commission has set out strategic guidance for the implementation of the Recovery and Resilience Facility in its 2021 Annual Sustainable Growth Strategy (ASGS). The Facility is the key recovery instrument at the heart of NextGenerationEU which will help the EU emerge stronger and more resilient from the current crisis. The Facility will provide an unprecedented €672.5 billion of loans and grants in frontloaded financial support for the crucial first years of the recovery. The publication of the ASGS...
Chapter News

State of the Union: EU Commission raises climate ambition and proposes 55% cut in emissions by 2030

The European Commission presented today its plan to reduce EU greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. This level of ambition for the next decade will put the EU on a balanced pathway to reaching climate neutrality by 2050. The new target is based on a comprehensive Impact Assessment of the social, economic and environmental impacts. The Assessment demonstrates that this course of action is realistic and feasible. This raised ambition also underlines the EU's continued global...
Chapter News

Green Deal: measures to step up the fight against global deforestation

Binding targets to protect forests, in particular primary forests Robust implementation and enforcement of existing instruments Future trade and investment agreements should contain binding provisions against deforestation MEPs outline how the EU can contribute to tackling worldwide deforestation and call for domestic policies to be revised to protect European forests. In the non-binding resolution adopted on Tuesday with 543 votes to 47 and 109 abstentions, in response to a Commission communication, MEPs call for more support to protect, restore and...
Chapter News

State of the Union Address by President von der Leyen at the European Parliament Plenary

Brussels, September 16, 2020 | Building the world we want to live in: A Union of vitality in a world of fragility Dear President, Honourable Members, One of the most courageous minds of our times, Andrei Sakharov – a man so admired by this House - always spoke of his unshakeable belief in the hidden strength of the human spirit. In these last six months, Europeans have shown how strong that human spirit really is. We saw it in the care workers who moved into nursing homes...
Brexit News, Chapter News

Brexit has arrived: Where are we now? What happens next?

The United Kingdom withdrew from the European Union on 1 February 2020. The two sides are now negotiating what form future relations will take. Here is the most important information. What has happened since 1 February 2020? A Withdrawal Agreement was negotiated before the UK left the EU in order to ensure that the main political and economic links between the EU and the UK were not severed from one day to the next upon departure. This Agreement has been in...
Chapter News

OECD | Education critical to build a more resilient society

Watch the live webcast of the press conference here | The COVID-19 crisis has exposed the many inadequacies and inequities in education systems around the world. As governments start rebuilding their economies and people’s livelihoods, it is critical that long-term public spending on education remain a priority to ensure that every young person has the same opportunity to continue education, succeed at school and develop the skills they need to contribute to society, according to a new OECD report. Education at a...
Chapter News, COVID-19 News

OECD | More can be done to ensure a green recovery from COVID-19 crisis

Many countries are making “green” recovery measures a central part of stimulus packages to drive sustainable, inclusive, resilient economic growth and improve well-being in the wake of the COVID-19 crisis. However some countries are also implementing measures that risk having a negative environmental impact and locking in unsustainable growth, according to new OECD analysis discussed by member country ministers today. New OECD analysis, Making the Green Recovery Work for Jobs, Income and Growth, indicates that OECD member governments have committed USD...