The Eurogroup discussed macroeconomic and fiscal developments in the euro area and looked into the functioning of adjustment mechanisms. Ministers also adopted the Eurogroup work programme for the second half of 2021 and heard the reports from the chairs of the ECB Supervisory Board and of the Single Resolution Board. Exchange of views on macroeconomic and fiscal developments The Eurogroup exchanged views with the chair of the ECON committee of the European Parliament, Ms Irene Tinagli, on the macroeconomic and fiscal...

Many countries have stepped up in the global fight against the pandemic, as have institutions such as the World Health Organization, the World Bank, Gavi (the Global Alliance for Vaccines and Immunization), the African Union, and others. Yet, more than a year into the COVID-19 crisis, new cases worldwide are higher than ever. Urgent action is needed to arrest the rising human toll and economic strain. 'Ending the pandemic is a solvable problem but requires further coordinated global action.' As the IMF...

The OECD released a new report today – Tax Co-operation for Development: Progress report in the COVID-19 era – looking back on the past year showing how developing countries have interacted with the OECD on a range of tax policy and administration issues. These include participating in the development and implementation of inclusive international standards; country-level capacity building programmes delivered through a variety of platforms and modalities; guidance and data developed and analysed by world-class experts on tax policy and administration;...

Governments around the world are playing a crucial role in providing lifelines to people and firms to help combat the pandemic and its economic fallout. To support the effectiveness of these efforts, it is important that such spending be subject to adequate transparency and accountability. 'The IMF presses for better governance through greater transparency.' To this end, the IMF has called for ensuring transparency and accountability in pandemic-related spending, so that the money and measures help the people who need it most, using...

Introductory remarks by Fabio Panetta, Member of the Executive Board of the ECB, at the 14th Payment Forum of Suomen Pankki − Finlands Bank, Helsinki, 19 May 2021 | Thank you for inviting me to speak at this fourteenth edition of the Payments Forum organised by Suomen Pankki – Finlands Bank. Finland is often seen as a forerunner in the development of retail payments, certainly when it comes to digitalisation and its effects. And I am pleased that despite the...

The European Commission has today adopted a Communication on Business Taxation for the 21st century to promote a robust, efficient and fair business tax system in the European Union. It sets out both a long-term and short-term vision to support Europe's recovery from the COVID-19 pandemic and to ensure adequate public revenues over the coming years. It aims to create an equitable and stable business environment, which can boost sustainable and job-rich growth in the EU and increase our open strategic...

The European External Action Service (EEAS), in cooperation with the Portuguese Presidency of the Council of the European Union and the European Union Institute for Security Studies (EUISS), held a scenario-based discussion with EU Member States and international partners on 17 May 2021. The discussion, the first of its kind, focused on how to address international security challenges related to cyberspace. All EU Member States, Australia, Canada, Japan, Mexico, New Zealand, Norway, Singapore, Republic of South Korea, Switzerland, United Kingdom...

Thinking about adding cryptocurrency to your investment portfolio? The number of Americans investing in cryptocurrency has increased. But as a new FTC Consumer Protection Data Spotlight suggests, the number who report getting stung by cryptocurrency investment scams has skyrocketed. You’ll want to read the Data Spotlight in detail, but here are five facts that suggests caution before sinking your savings into cryptocurrency. Consumers report losing millions to cryptocurrency scams. Since October 2020, nearly 7,000 consumers have reported losses to cryptocurrency scams totaling more than...