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Transatlantic News
Transatlantic News
10
Aug
The Brexit transition ends December 31, 2020. In 5 months, the UK leaves Single Market and Customs Union. Changes are inevitable, with or without agreement on the new partnership. Companies and citizens must get ready.
Even if the European Union and the United Kingdom conclude a highly ambitious partnership covering all areas agreed in the Political Declaration by the end of 2020, the United Kingdom’s withdrawal from the EU acquis, the internal market and the Customs Union, at the...
07
Aug
Following a review under the recommendation on the gradual lifting of the temporary restrictions on non-essential travel into the EU, the Council updated the list of countries for which travel restrictions should be lifted. As stipulated in the Council recommendation, this list will continue to be reviewed regularly and, as the case may be, updated.
Based on the criteria and conditions set out in the recommendation, as from 8 August member states should gradually lift the travel restrictions at the external...
06
Aug
The economic impact of the COVID-19 pandemic on emerging market economies far exceeded that of the global financial crisis. Unlike previous crises, the response has been decisive just like in advanced economies. Yet, conventional policies are reaching their limit and unorthodox policies are not without risks.
A pandemic still unfolding
COVID-19 is still to play out fully in the emerging market universe (see chart for country list), posing risks to both people and economies. While countries such as China, Uruguay, and Vietnam...
05
Aug
In the wake of the Covid-19 crisis, the US authorities adopted an unprecedented set of fiscal measures, targeting households in particular. These measures aim at preserving the purchasing power of US households, but less than half of this additional income should be spent.
Chart 1. Compared fiscal policy responses 2020/2008, Source: Congressional Budget Office (CBO). Image courtesy of La Banque de France.
The Covid-19 crisis has led to a sharp deterioration in the US labour market
The coronavirus crisis has sent an...
04
Aug
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...
04
Aug
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...
04
Aug
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...
04
Aug
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...
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