Speech by Yves Mersch, Member of the Executive Board of the ECB, Singapore, 14 October 2015 Ladies and gentlemen, members of the panel, The beauty of innovation is that it never ends. Even the best ideas can be enhanced and complemented. The Eurosystem, the euro area’s network of central banks, has developed two major innovations in the field of financial market infrastructure over the past 15 years: TARGET (now TARGET2) and TARGET2-Securities, or T2S. Both platforms have significantly improved the way payments...

Work Programme 2016-2017 - Spanning seven years (2014 to 2020) and working with a budget of €77 billion, Horizon 2020 is the biggest EU research and innovation funding programme ever. Today, the European Commission adopted the second of its two-year work programmes setting out funding opportunities for 2016-2017. This Work Programme offers a budget of almost €16 billion. It is based on extensive consultation and stakeholder involvement. All the calls and related information are published on a single portal. Horizon 2020...

The European Commission’s Directorate-General for Economic and Financial Affairs today publishes its Quarterly Report on the Euro Area, featuring in-depth technical analysis of economic issues affecting the euro area. In this edition, staff economists compare the euro area's ongoing recovery with similar instances in its past and elsewhere and assess estimates of the EU's output gap. The report also takes a look at the factors driving inflation in the euro area and presents an abridged version of the Commission's July...

The European Commission will boost competitiveness by investing almost €16 billion in research and innovation in the next two years under Horizon 2020, the EU's research and innovation funding scheme. The European Commission will invest almost €16 billion in research and innovation in the next two years under Horizon 2020, the EU's research and innovation funding scheme, following a new Work Programme for 2016-17 adopted today. The new funding opportunities offered by the Work Programme are directly aligned with the policy priorities of...

In the second quarter of 2015, the business investment rate was 22.3% in the euro area, compared with 22.0% in the previous quarter. The business profit share in the euro area was 40.0% in the second quarter of 2015, stable compared with the first quarter of 2015. This data come from a first release of seasonally adjusted quarterly European sector accounts from Eurostat, the statistical office of the European Union, and the European Central Bank (ECB). To read the full...

The Commission is today launching a new initiative to ensure that taxpayer money is spent efficiently by improving the synergies between EU funding for regional policy and for research. The new "Seal of Excellence" scheme will allow regions to recognise the quality label awarded to promising project proposals submitted under Horizon 2020, the EU's research and innovation programme and promote their access to different funding sources like the European Structural and Investment Funds (ESIF) and other national or regional investment...

On 9 October 2015 the Council agreed its negotiating stance on the draft data protection directive. This draft directive is aimed at protecting personal data processed for the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal offences or the safeguarding against and the prevention of threats to public security. To read about the outcome of the meeting, click here Courtesy of the EU Delegation to the U.S.