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Transatlantic News
Transatlantic News
23
Jul
In an extraordinary plenary session, MEPs commented on the 17-21 July European Council deal on EU financing and the recovery plan to tackle the pandemic fallout.
In the debate with Council and Commission Presidents Charles Michel and Ursula von der Leyen, the deal reached at the recent European Council meeting on the recovery fund was qualified as “historic” by many MEPs as for the first time, member states have agreed to issue €750 billion of joint debt. With cuts made...
23
Jul
Washington, DC |
On July 13, the Executive Board of the International Monetary Fund (IMF) approved a temporary increase in the annual limits on overall access to resources in the General Resources Account and the Poverty Reduction and Growth Trust. The severe impact of the COVID-19 pandemic on global economic conditions has resulted in an unprecedented number of member countries seeking financial support from the IMF. As of July 13, 2020, 72 countries have already received financial assistance from the...
22
Jul
The EU is providing additional funding and flexibility in the use of the structural funds to help member states' recovery efforts following the COVID-19 outbreak.
EU ambassadors, meeting within the Committee of Permanent Representatives, today endorsed the Council's partial position on REACT-EU, the EU initiative with the biggest impact in the short to medium term, as well as on a series of amendments to long-term legislative proposals.
We must ensure that European regions not only survive the crisis but emerge stronger...
22
Jul
EU Leaders agreed a package of €1,824.3 billion combining the multiannual financial framework and the extraordinary recovery fund Next Generation EU that will help the EU to rebuild after the COVID-19 pandemic and will support investments in the green and digital transitions.
We have reached a deal on the recovery package and the European budget. These were, of course, difficult negotiations in very difficult times for all Europeans. A marathon which ended in success for all 27 member states, but...
21
Jul
The Council today adopted new rules to improve the way crowdfunding platforms operate across the EU.
The new framework is part of the capital markets union's project which aims at providing an easier access to new financing sources. It will remove barriers for crowdfunding platforms to provide their services cross-border by harmonising the minimum requirements when operating in their home market and other EU countries. It will also increase legal certainty through common investor protection rules.
The new rules will cover...
21
Jul
Thank you very much.
Ladies and gentlemen,
First of all, I would like to thank the President of the European Council – Charles Michel – for his enormous efforts and perseverance. This European Council's success is also his success.
And I would like to thank Angela Merkel for her exceptional guidance. We negotiated for four long days and nights – more than 90 hours – but it was worth it. This agreement is a signal that Europe is capable of taking action.
A...
21
Jul
Opening remarks by European Commission President von der Leyen | Brussels | July, 21 2020
Thank you very much.
Ladies and gentlemen,
First of all, I would like to thank the President of the European Council – Charles Michel – for his enormous efforts and perseverance. This European Council's success is also his success.
And I would like to thank Angela Merkel for her exceptional guidance. We negotiated for four long days and nights – more than 90 hours – but it was...
20
Jul
Faced with an unprecedented shock of collapsing global demand and commodity prices, capital outflows, major supply chain disruptions and a generalized drop in global trade, many emerging markets and developing economies’ (EMDEs) currencies have weakened sharply. Will these currency movements support the recovery of these economies?
Building on a new dataset, research laid out in a new IMF Staff Discussion Note indicates that the short-term gains from weaker currencies may be limited. This is especially true for EMDEs where firms price their international sales...
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