Transatlantic News

Transatlantic News

Chapter News, COVID-19 News

COVID-19: Council adopts exceptional rules to facilitate bank lending in the EU

The EU is temporarily adapting banking rules in order to maximise the capacity of banks to lend money and support households and businesses to recover from the COVID-19 crisis. The banking package adopted today provides targeted and exceptional legislative changes to the capital requirements regulation (CRR 2). These changes will allow credit institutions to fully play their role in managing the economic shock that stems from the COVID-19 pandemic by fostering credit flows. Thanks to the reforms conducted after the 2008 financial crisis,...
Chapter News, COVID-19 News

Taxation: Council agrees on the postponement of certain tax rules

To address the severe disruptions created by the COVID-19 pandemic, the EU will allow more time to comply with rules on cross-border information reporting and exchanges and VAT for e-commerce. Directive on administrative cooperation in the area of taxation (DAC) The Council adopted an amendment to the DAC allowing member states an option to defer by up to 6 months the time limits for the filing and exchange of the following information: automatic exchanges of information on financial accounts of which the beneficiaries are tax...
Chapter News

US dollar liquidity-providing operations from 1 July 2020

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...
Chapter News

Life Post–COVID-19

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...
Chapter News

European Commission kicks off major EU trade policy review

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...
Chapter News

EACCNY: EACCNY Supports Fight Against Racial Injustice

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....
Chapter News

EACCNY #COVID19 Impact Stories from Our Members – Swiss Consulate & Trade & Invest Office

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 Markus Börlin, Swiss Ambassador & Consul General NY a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you, personally and your...
Chapter News

Europe security and defence: the way forward

Blog post by EU High Representative Josep Borrell | Rising international tensions and conflicts at the doorstep of Europe urge us to take our collective security into our own hands. Lately, four major Member States advocated making security and defence a top priority for the Union. I fully agree: since the beginning of the mandate of this Commission, we have placed our Common Security and Defence Policy at the very heart of the EU’s external policy. And while we have...