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Transatlantic News
Transatlantic News
14
Jul
The European Commission has welcomed a list of ‘best practices' agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and businesses throughout the crisis.
Today's ‘best practices' cover several issues, including:
Payment moratoria for consumer and business loans, and for insurance contributions: these measures can help those facing financial difficulties by deferring payments;
Enabling safer cashless payments while ensuring cash...
14
Jul
The European Commission has today recommended that Member States do not grant financial support to companies with links to countries that are on the EU's list of non-cooperative tax jurisdictions. Restrictions should also apply to companies that have been convicted of serious financial crimes, including, among others, financial fraud, corruption, non-payment of tax and social security obligations. The aim of today's recommendation is to provide guidance to Member States on how to set conditions to financial support that prevent the...
13
Jul
Statement by President Charles Michel | Brussels
One week from today, the 27 Leaders will come together here in Brussels. It will be our first physical meeting since the beginning of the crisis.
As you know, last May, on the request of the European Council, the Commission presented a package that combines the MFF and the recovery instrument Next Generation EU.
On June 19th, leaders had a first discussion on this proposal. These discussions revealed strong opposition to the package. As a...
13
Jul
The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has published today its second report on sanctions and measures imposed under the Markets in Financial Instruments Directive (MiFID II) by National Competent Authorities (NCAs).
Overall, in 15 (out of 30) EEA Member States, NCAs imposed a total of 371 sanctions and measures in 2019 of an aggregated value of about €1.8 million.
The Report provides an overview of the applicable legal framework and the sanctions and measures imposed by NCAs under...
13
Jul
Watch the webcast of the press conference |
The Covid-19 pandemic is turning into a jobs crisis far worse than the 2008 crisis. Women, young people and workers on low incomes are being hit hardest, according to a new OECD report and unemployment statistics released today.
The OECD unemployment rate edged down to 8.4% in May 2020, after an unprecedented increase of 3.0 percentage points in April, to 8.5%, the highest unemployment rate in a decade. In February 2020, it was at...
10
Jul
10/07/2020 - OECD Secretary-General Angel Gurría announced today to the OECD Council that he will not be seeking an additional mandate to lead the Organisation. He has issued the following statement:
“During the 14 years that I have been leading the OECD, I have strived to make it more visible, more relevant, more impactful, more efficient. All to better serve our Members, first and foremost, as well as our Partner countries.
In the context of the worst pandemic since the ‘Spanish flu’...
10
Jul
This interview of Yvonne Bendinger-Rothschild, the Executive Director of EACCNY, was featured in Transatlantic Business & Investment Council's (TBIC) market insight on FDI-related developments in Europe for July 2020.
Yvonne joined the European American Chamber of Commerce New York Chapter (EACC) as its Executive Director in October 2010. The EACC's goal is to stimulate transatlantic trade & business development, and to facilitate exchange and develop relationships between European and American businesses and professional organizations. As part of her role, she focuses on providing EACC’s...
10
Jul
Main results
Economic impact of COVID-19 and recovery measures
Ministers exchanged views on the progress achieved on the implementation of measures to respond to the COVID-19 crisis at EU level. The European Commission and the European Central Bank (ECB) presented their assessment of the current situation.
We are at a crucial moment in our response to the economic consequences of the COVID-19 crisis. We are stepping up our efforts to make sure that companies, employees and member states can access the funds...
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