Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Elena Laskari on 26 January 2021 | Euro area economies are still under pressure because of the second wave of the pandemic and it is still unclear if we are closer to the end of the tunnel or closer to a third wave. According to the ECB’s forecasts, how many years will it take for our economies to heal the scars of the pandemic and...

Blog post by HR/VP Josep Borrell | The inauguration of Joe Biden opens a welcome new chapter in EU-US relations. As President Biden has signalled, there is much to repair and rebuild, both at home and abroad. But this is above all a moment of opportunity. We as EU are ready to revive our partnership, which is so important at a time of tumultuous global change. Like millions of people around the world, I followed President Biden’s inaugural address. Naturally, the...

The EU trade agenda is set to have an overall positive impact on the EU economy and the agri-food sector, according to a new study published today. Trade agreements are due to result in substantial increases in EU agri-food exports, with more limited increases in imports, creating a positive trade balance overall. The study also confirms that the EU's approach to grant a limited amount of lower duty imports (through tariff rate quotas) is the best approach in terms...

The Commission has approved, under EU State aid rules, a second Important Project of Common European Interest (“IPCEI”) to support research and innovation in the battery value chain. The project, called “European Battery Innovation” was jointly prepared and notified by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden. The twelve Member States will provide up to €2.9 billion in funding in the coming years. The public funding is expected to unlock an additional €9 billion in private...

New unit, operational as of early 2021, to strengthen and bring together ECB work on climate Decision reflects growing importance of climate change for the economy and the ECB’s policy Climate change centre will shape and steer climate agenda The European Central Bank (ECB) has decided to set up a climate change centre to bring together the work on climate issues in different parts of the bank. This decision reflects the growing importance of climate change for the economy and the...

Keynote speech by Christine Lagarde, President of the ECB, at the ILF conference on Green Banking and Green Central Banking | Frankfurt am Main, 25 January 2021 In the famous fable “Belling the Cat”, a group of mice gather to discuss how to deal with a cat that is eating them one by one. They hatch a plan to put a bell on the cat so they can hear it coming and escape before being caught. When it comes to who will...

Keynote SPEECH by Fabio Panetta, Member of the Executive Board of the ECB, at the 50th anniversary of the Associazione Italiana per l’Analisi Finanziaria (by videoconference) | Introduction I would like to start by thanking the Italian Association for Financial Analysts (Associazione Italiana per l'Analisi Finanziaria, AIAF) for inviting me to speak on the occasion of its 50th anniversary. Promoting high standards in financial analysis is vitally important for guaranteeing the development and the integrity of markets, to ensure they can serve the...