Speech by Christine Lagarde, President of the ECB, at the “Jahresimpuls Mittelstand 2021” of Bundesverband Mittelständische Wirtschaft | Frankfurt am Main, 1 March 2021 | It is a great pleasure to have the opportunity to speak to you today. At the ECB we care deeply about connecting with small and medium-sized enterprises (SMEs), since they are the foundation of the European economy. SMEs make up 99.8% of all non-financial companies in the EU, provide 66.6% of jobs and generate 56.4% of added value. It...

Statements and remarks 26 February 2021 14:00 by President Charles Michel | Today we discussed security and defense. We want to act more strategically, to defend our interests and to promote our values. So we need to increase our ability to act autonomously and to strengthen our cooperation with our partners. We are committed to cooperating closely with NATO. A stronger Europe makes a stronger NATO. We exchanged views with Secretary General Stoltenberg about working together to improve our collective security...

Keynote speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Third Annual Conference organised by the European Fiscal Board on “High Debt, Low Rates and Tail Events: Rules-Based Fiscal Frameworks under Stress” | One of the greatest conundrums and policy challenges of our times is the coincidence of persistently low real long-term interest rates and low inflation. Even before the coronavirus (COVID-19) pandemic, inflation across many advanced economies had been falling short of central banks’ aims...

To ensure that citizens can continue to enjoy roaming without additional charges when travelling in the EU, the Commission proposed today a new Roaming Regulation. At a time when non-essential travel is discouraged, this is an important action in preparing a brighter future. The new regulation will prolong the current rules that are due to expire in 2022, for another 10 years. It will also ensure better roaming services for travellers. For example, consumers will be entitled to have the...

The European Commission adopted today a new EU Strategy on Adaptation to Climate Change, setting out the pathway to prepare for the unavoidable impacts of climate change. While the EU does everything within its power to mitigate climate change, domestically and internationally, we must also get ready to face its unavoidable consequences. From deadly heatwaves and devastating droughts, to decimated forests and coastlines eroded by rising sea levels, climate change is already taking its toll in Europe and worldwide....

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Ingūna Ukenābele on 22 February 2021 | How would you describe the current economic situation in the euro area? In the course of the pandemic, we have experienced the deepest economic downturn since World War II. After the strong decline in economic activity following the first wave of infections in the spring of 2020, we saw a strong rebound, supported by the decisive fiscal and monetary policy...

Countries should increase efforts to better deter, detect and disrupt the activities of professionals who enable tax evasion and other financial crimes, according to a new OECD report. Ending the Shell Game: Cracking down on the Professionals who enable Tax and White Collar Crimes explores the different strategies and actions that countries can take against those professional service providers who play a crucial part in the planning and pursuit of criminal activity, referred to in the report as “professional enablers.”...

As G20 finance ministers and central bank governors meet virtually this week, the world continues to climb back from the worst recession in peacetime since the Great Depression. The IMF recently projected global GDP growth at 5.5 per cent this year and 4.2 per cent in 2022. But it is going to be a long and uncertain ascent. Most of the world is facing a slow rollout of vaccines even as new virus mutations are spreading—and the prospects for recovery...