Speech by Christine Lagarde, President of the ECB, on the occasion of the awarding of the Prix Turgot 2021, Paris | It is a great pleasure to be here once again in Bercy, which brings back so many memories. I am very grateful to Jean-Claude Trichet and the Cercle Turgot for bestowing this prize on me. It is an honour to join such an illustrious group of recipients. Anne-Robert, Jacques Turgot himself said that “the whole mass of humanity … marches...

The Commission today proposed a framework for a European Digital Identity which will be available to all EU citizens, residents, and businesses in the EU. Citizens will be able to prove their identity and share electronic documents from their European Digital Identity wallets with the click of a button on their phone. They will be able to access online services with their national digital identification, which will be recognised throughout Europe. Very large platforms will be required to accept...

On June 2, the European Commission is presenting a new Strategy to make the largest free travel area in the world – the Schengen area – stronger and more resilient. The Schengen area is home to more than 420 million people across 26 countries. The removal of internal border controls between Schengen States is an integral part of the European way of life: almost 1.7 million people reside in one Schengen State and work in another. People have built their lives around...

Statement by the European Commission on Swiss decision to terminate IFA negotiations The Swiss Federal Council took the decision to terminate the negotiations of the EU-Swiss Institutional Framework Agreement. We take note of this unilateral decision of the Swiss Government. We regret this decision, given the progress that has been made over the last years to make the Institutional Framework Agreement a reality. The EU-Swiss Institutional Framework Agreement was intended as the foundation to enhance and develop EU-Swiss bilateral relations for the future....

Watch the live webcast of the press conference Prospects for the world economy have brightened but the recovery is likely to remain uneven and, crucially, dependent on the effectiveness of public health measures and policy support, according to the OECD’s latest Economic Outlook.  In many advanced economies more and more people are being vaccinated, government stimulus is helping to boost demand and businesses are adapting better to the restrictions to stop the spread of the virus. But elsewhere, including in many emerging-market...

OECD Ministers have endorsed a new initiative to promote safe international travel during the COVID-19 pandemic at the OECD’s annual Ministerial meeting in Paris. The Initiative involves a safe travel blueprint and a temporary international cross-sectoral forum for knowledge sharing. The forum will allow governments and stakeholders to share information in real time on plans and approaches facilitating travel. The blueprint promotes greater certainty, safety and security in travel as reopening takes place. It builds on existing initiatives and aims...

The Council has received formal notifications about the approval of the own resources decision from all 27 member states. National ratifications being completed, the EU can now start making available funds under the Recovery and Resilience Facility. With a financial envelope of €672.5 billion, the facility is the central part of Next Generation EU, the EU instrument for economic recovery from the COVID-19 pandemic. After adopting the own resources decision on 14 December 2020, the EU Council completed the list of received formal notifications on 31...