Transatlantic News

Transatlantic News

Chapter News, COVID-19 News

Up-to-date report on the status of the Paycheck Protection Program (PPP) from the U.S. SBA

The Small Business Administration (SBA), in consultation with the Department of the Treasury, is providing this guidance to address borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans, as provided for under section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program Flexibility Act (Flexibility Act). Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation, in consultation with the Department...
Chapter News, COVID-19 News

IMF | Global Imbalances and the COVID-19 Crisis

The world entered the COVID-19 pandemic with persistent, pre-existing external imbalances. The crisis has caused a sharp reduction in trade and significant movements in exchange rates but limited reduction in global current account deficits and surpluses. The outlook remains highly uncertain as the risks of new waves of contagion, capital flow reversals, and a further decline in global trade still loom large on the horizon. Our new External Sector Report shows that overall current account deficits and surpluses in 2019 were just below...
Chapter News

EU Cyber sanctions: time to act

Blog post by Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy / Vice-President of the European Commission | The Internet plays a vital role in our lives, which is why we need to protect ourselves against cyber-attacks. Today, the EU imposed its first-ever cyber sanctions, to defend its citizens and companies from cyber threats. "We will not tolerate cyber-attacks: we have the tools to protect ourselves and the determination to use the them." HR/VP Josep Borrell Not...
Chapter News

Mergers: EU Commission opens in-depth investigation into the proposed acquisition of Fitbit by Google

The European Commission has opened an in-depth investigation to assess the proposed acquisition of Fitbit by Google under the EU Merger Regulation. The Commission is concerned that the proposed transaction would further entrench Google's market position in the online advertising markets by increasing the already vast amount of data that Google could use for personalisation of the ads it serves and displays. Executive Vice-President Margrethe Vestager, responsible for competition policy, said: “The use of wearable devices by European consumers is expected...
Chapter News

Statement by Executive VP of the EU Commission Margrethe Vestager to the U.S. Committee on the Judiciary Subcommitte on Antitrust, Commercial and Administrative Law

In her written statement to the House Judiciary subcommittee on antitrust, Executive Vice President of the European Commission Margrethe Vestager warns that if digital platforms act unchecked, they can cause significant harm to competition, innovation and ultimately to consumers. Read her statement here: STATEMENT BY MARGRETHE VESTAGER TO THE UNITED STATES HOUSE OF REPRESENTATIVES Compliments of Delegation of the European Union to the United States.
Chapter News

EACCNY #COVID19 Impact Stories from Our Members – Consulate General of Denmark in New York

Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring Mikkel Hagen Hess, Acting Consul General of Denmark in New York a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you,...
Chapter News

OECD | Donors agree on aid treatment of debt relief

 Members of the OECD Development Assistance Committee (DAC), comprised of 29 donor countries and the EU, have agreed on a method for reporting debt relief as official development assistance (ODA). The agreement follows calls by developing countries and civil society for expanded international debt relief efforts. Creditors within the Paris Club, a forum of official creditors for negotiating debt restructuring, had asked as well for the system to encourage the forgiveness and rescheduling of debt. The new agreement paves the way for...
Chapter News

EU Member States’ compliance with EU law in 2019: more work needed

The Annual Report on Monitoring the Application of EU Law sets out how the Commission monitored and enforced EU law in 2019, and the performance of Member States  in various policy areas. The effective enforcement of EU law matters to citizens as it upholds the rights and benefits that they derive from EU law, which otherwise they would be denied. It also matters to businesses in order ensure a level-playing field across the internal market. While the number of open infringement cases remained...

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