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Transatlantic News
Transatlantic News
25
Mar
Today, the Commission presented an Action Plan for the development of organic production. Its overall aim is to boost the production and consumption of organic products, to reach 25% of agricultural land under organic farming by 2030, as well as to increase organic aquaculture significantly.
Organic production comes with a number of important benefits: organic fields have around 30% more biodiversity, organically farmed animals enjoy a higher degree of animal welfare and take less antibiotics, organic farmers have higher incomes and...
24
Mar
Creating an emergency Rapid Response Forum to ensure global supplies of essential goods continue to flow during major international crises is one of a broad range of recommendations contained in a new OECD report to the G7 on building economic resilience.
Fostering Economic Resilience in a World of Open and Integrated Markets says the devastating impacts of the Global Financial Crisis and now the COVID-19 pandemic will continue to leave lasting scars on our economies and societies. With the risk...
24
Mar
Today, the European Commission has introduced the principles of reciprocity and proportionality as new criteria to be considered for authorising exports under the transparency and authorisation mechanism for COVID-19 vaccine exports. This system has significantly improved the transparency of exports. Nevertheless, the objective to ensure timely access to COVID-19 vaccines for EU citizens is still not met.
President of the European Commission, Ursula von der Leyen, said: “The EU is proud to be the home of vaccine producers who not only deliver...
23
Mar
For technology to benefit everyone, private sector innovation needs to be supported by public goods
Digital technology is transforming the financial industry, changing the way payments, savings, borrowing, and investment services are provided and who provides them. Fintech and Big Tech companies now compete with banks and other incumbents across a range of markets. Meanwhile, digital currencies promise to transform the heart of finance: money itself.
But just how much has technology advanced financial inclusion? For sure, in the past year...
22
Mar
The EU Commission has published its first preliminary assessment of the impact of SURE, the €100 billion instrument designed to protect jobs and incomes affected by the COVID-19 pandemic.
The report finds that SURE has been successful in cushioning the severe socio-economic impact resulting from the COVID-19 crisis. It has helped to ensure that the increase in unemployment in the beneficiary Member States during the crisis has been significantly smaller than during the global financial crisis, despite them experiencing a...
22
Mar
1. Introduction
A phenomenon referred to as the “paradox of banknotes” has been observed in the euro area; in recent years, the demand for euro banknotes has constantly increased while the use of banknotes for retail transactions seems to have decreased. Recent payment surveys indicate that the share of cash transactions in the euro area has decreased. This, together with ongoing digitalisation in retail payments, might have been expected to lead to a decrease in the demand for cash. However, this reduction in...
19
Mar
Today, the Council of the OECD composed of Ambassadors representing the 37 Member Countries, took the formal decision to appoint Mr. Mathias Cormann of Australia to become the sixth Secretary-General of the Organisation, for a 5 year-term beginning on 1 June 2021.
Member countries took this decision following the conclusion of the seven-month Selection Process led by the Dean of the Council, and chair of the Selection Committee, Ambassador Christopher Sharrock of the United Kingdom, that began in August 2020....
18
Mar
Compounded €STR average rates and compounded index based on €STR to be published as of 15 April 2021
Average rates to cover 1-week, 1-month, 3-month, 6-month and 12-month tenors
Publication via ECB’s Market Information Dissemination (MID) platform and Statistical Data Warehouse
The European Central Bank (ECB) will start publishing compounded €STR average rates and a compounded index based on the euro short-term rate (€STR) on 15 April 2021. Publication will take place on each TARGET2 business day at 09:15 CET...
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