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Transatlantic News
Transatlantic News
16
Mar
Economic activity is poised for a pickup this year as the drag from the unfavorable external environment diminishes. Thanks to many years of fiscal effort, the budget deficit now stands at an appropriate level, and over the medium term the focus should be on avoiding any deterioration in structural terms.
Sustainably advancing Lithuania’s living standards now depends on making determined progress with structural reforms, which ideally should be bound together in a comprehensive and coherent package to provide strategic...
16
Mar
In jurisdictions with financial sectors deemed by the IMF to be systemically important, including Ireland, financial stability assessments under the Financial Sector Assessment Program (FSAP) are a mandatory part of Article IV surveillance, and are supposed to take place every five years. IMF FSAPs are currently being conducted in a number of Euro area countries including Ireland, Germany, the Netherlands and Finland.
An International Monetary Fund (IMF) mission, headed by Daniel Hardy, visited Ireland during December 2015 and March 2016...
16
Mar
The Commission suggests policy measures to support the European steel sector to overcome its serious challenges, largely due to global overcapacity.
The European Commission has presented today a Communication setting out how the European steel sector can overcome its short-term and long-term challenges with the support of Member States and the EU institutions.
A joint effort is needed to overcome these serious challenges fuelled by global overcapacity, a dramatic increase of exports and an unprecedented wave of unfair trading practices. High...
15
Mar
The European Commission has approved its proposal for a new and transparent system for resolving disputes between investors and states – the Investment Court System. This new system would replace the existing investor-to-state dispute settlement (ISDS) mechanism in all ongoing and future EU investment negotiations, including the EU-US talks on a Transatlantic Trade and Investment Partnership (TTIP).
The proposal for an Investment Court System builds on the substantial input received from the European Parliament, Member States, national parliaments and stakeholders...
15
Mar
The European Commission grants the USA the equivalent regulatory regime for central counterparties as the European Union.
The European Commission has determined that the U.S. Commodity Futures Trading Commission (CFTC) has the equivalent requirements as the EU in regulating central counterparties ('CCPs'). This follows the announcement of 10 February 2016 by Commissioner Hill and CFTC Chairman Timothy Massad on a common approach for transatlantic CCPs.
This decision will ensure that both EU and US CCPs operate to the same high standards...
14
Mar
European Commissioner for International Cooperation and Development, Neven Mimica, and International Monetary Fund (IMF) Deputy Managing Director, Carla Grasso, met on March 14, 2016 in Brussels to discuss the further strengthening of the EC-IMF partnership.
The EC and the IMF are natural strategic partners, with both institutions having a long track record of supporting economic reforms in their developing partners (EU) and member countries (IMF), including, for example, in the areas of mobilizing domestic revenue, improving public financial management, and...
11
Mar
The European Union’s Commission for Trade, Cecilia Malmström is in Washington D.C., to stress the importance of deep cooperation between the European Union and the United States on trade issues.
In a speech at the Peterson Institute for International Economics, she argued that on both sides of the Atlantic the long consensus around open markets was now the subject of intense debate. Governments needed to respond to concerns raised in those debates by making trade policy more economically effective and...
11
Mar
Opinion piece by Vítor Constâncio, Vice-President of the ECB,
11 March 2016
This week the ECB adopted new measures to reinforce its monetary policy in the face of recent headwinds. That decision was taken against a backdrop of vocal scepticism in the media and markets. The sceptics’ reasoning is two-pronged. First, that monetary policy is not sufficient to address the present low growth trend; and second, that monetary policy is increasingly ineffective in any case.
The notion that monetary policy alone cannot...
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