May 27, 2020 | Today, the European Commission has put forward its proposal for a major recovery plan. To ensure the recovery is sustainable, even, inclusive and fair for all Member States, the European Commission is proposing to create a new recovery instrument, Next Generation EU, embedded within a powerful, modern and revamped long-term EU budget. The Commission has also unveiled its adjusted Work Programme for 2020, which will prioritise the actions needed to propel Europe's recovery and resilience. The coronavirus has shaken Europe and the world...

May 26, 2020 | • Pandemic greatly amplified existing vulnerabilities of the financial sector, corporates and sovereigns • Policy responses to pandemic essential to preserve financial stability • Euro area banks, although now better capitalised, likely to face significant losses and further pressure on profitability Despite the immense social and economic disruption in the wake of the coronavirus (COVID-19) pandemic, decisive policy responses have helped to prevent a seizing-up of the financial system. However, even as infection rates fall in many countries, the...

May 26, 2020 | Main results Ministers held an exchange of views on a comprehensive approach to the COVID-19 pandemic, including the de-escalation of containment measures and economic recovery. They were invited to share their experiences and provide comments on how to gradually lift restrictions related to COVID-19 and restart the economy and social activities, taking into account the health considerations. Ministers outlined their national measures and timelines, stressing the importance of continued cooperation between member states, as well as ensuring a proportionate and non-discriminatory...

May 22, 2020 | Statement by HR/VP Josep Borrells I regret the announcement by the United States to withdraw from the Open Skies Treaty. The Treaty on Open Skies is a key element of our arms-control architecture and serves as a vital confidence and security-building measure. Since it came into force in 2002, this agreement has enabled to carry out more than 1.500 reconnaissance missions over the territories of all the signatory states. The treaty provides transparency and predictability. It is an important...

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 Celia Belline, CEO, CILcare a EACCNY member. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have faced? 2) What are some of...

May 20, 2020 | The EU is adapting certain rules for different transport sectors to help companies and authorities cope in the extraordinary circumstances created by the coronavirus crisis. Today, the Council adopted temporary measures enabling the extension of the validity of certain certificates and licences in road, rail and waterborne transport, and relaxing the rules on charging ships for the use of port infrastructures. Enabling the extension of the validity of licences and certificates will provide the flexibility and legal certainty needed to maintain our supply...

May 22, 2020 | External communication Communication in relation to the German Federal Constitutional Court ruling of 5 May 2020 On 5 May 2020 the ECB issued a press release indicating that the Governing Council had taken note of the judgement issued by the German Federal Constitutional Court earlier that day regarding the public sector purchase programme (PSPP), on which it had received a preliminary briefing by the President of the Deutsche Bundesbank and by the legal department of the ECB, and...

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 Phil Hogan, the Trade Commissioner for the European Union based in Brussels. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have...