Today, just over two years after its entry into application, the European Commission published an evaluation report on the General Data Protection Regulation (GDPR). The report shows the GDPR has met most of its objectives, in particular by offering citizens a strong set of enforceable rights and by creating a new European system of governance and enforcement. The GDPR proved to be flexible to support digital solutions in unforeseen circumstances such as the Covid-19 crisis. The report also concludes that...

The Commission has today proposed an EU budget of €166.7 billion for 2021, to be complemented by €211 billion in grants and approximately €133 billion in loans under Next Generation EU, the temporary recovery instrument aimed at mobilising investments and kick-starting the European economy. Together, the annual budget and Next Generation EU will mobilise significant investments in 2021 to address the immediate economic and social damage caused by the coronavirus pandemic, kick-start a sustainable recovery and protect and create...

ECB and other major central banks to reduce frequency of 7-day US dollar operations from daily to three times per week, operations with 84-day maturity continue to be offered weekly New frequency effective from 1 July 2020, to remain in place for as long as appropriate to support smooth functioning of US dollar funding markets ECB and other major central banks stand ready to re-adjust provision of US dollar liquidity as warranted by market conditions In view of the...

Previously published in FINANCE & DEVELOPMENT, JUNE 2020, VOL. 57, NUMBER 2 | By Daniel Susskind, James Manyika, Jean Saldanha, Sharan Burrow, Sergio Rebelo, and Ian Bremmer Six prominent thinkers reflect on how the pandemic has changed the world Daniel SUSSKIND is a fellow in economics at Balliol College, Oxford University, and author of A World Without Work (Allen Lane, 2020). In March 2020, Rabbi Jonathan Sacks, an influential figure in British intellectual life, described the COVID-19 catastrophe as “the nearest we have to a revelation for atheists.” At the time...

Today, the European Commission launched a major review of the European Union's trade policy, including a public consultation seeking input from the European Parliament, Member States, stakeholders and civil society. The Commission's objective is to build a consensus around a fresh medium-term direction for EU trade policy, responding to a variety of new global challenges and taking into account the lessons learned from the coronavirus crisis. A strong European Union needs a strong trade and investment policy to support economic...

While all of us have tried to stay hopeful during these challenging times, after watching our cities and our citizens explode over the latest appalling incidents of racial injustice surrounding George Floyd, Breonne Taylor, Ahmaud Arbery and so many more; staying hopeful has become the most daunting of challenges.  Where can you turn? What can you do?  What next? We stand firmly behind the peaceful protests and protesters who are exercising their constitutional rights to speak out against racial injustice....