You repeatedly mentioned at the last press conference that the inflation outlook continues to be “too high for too long”. How strong is the upside risk of inflation in the eurozone? There are factors that can induce significant upside risks to the inflation outlook. And we are still in a situation where uncertainty about the path of inflation is high, so we have to be extremely attentive to those potential risks, the exact list of which you will find...

Diversity is a matter of sound governance for banks and leads to better decision-making. That is why Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, and Elizabeth McCaul, Member of the Supervisory Board of the ECB, are encouraging banks to improve the diversity of their boards. Banking is still a man’s world. Out of the 361 CEO appointments made between 2020 and 2022 at the significant institutions (SIs) directly...

The EU Council today adopted an assistance measure worth €1 billion under the European Peace Facility (EPF) that will further contribute to strengthening the capabilities and resilience of Ukraine to defend its independence, sovereignty and territorial integrity, and protect the civilian population against the ongoing Russian military aggression. The assistance measure will finance the provision to the Ukrainian Armed Forces of 155-mm-calibre artillery rounds and, if requested, missiles which will be jointly procured by EU member states from the European...

Speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, State of the Union conference organised by the European University Institute | Florence, 5 May 2023 | Many thanks for inviting me to address this conference along with so many esteemed speakers. As the cradle of the Renaissance, Florence has a long history of attracting people from different disciplines across Europe. The most gifted individuals in the fields of...

The EDPS has issued five Opinions on the European Commission’s Recommendations to open negotiations for International Agreements on the exchange of personal data between Europol, the EU Agency for Law Enforcement, and the competent authorities of five Latin American countries: Ecuador, Brazil, Peru, Bolivia, and Mexico to fight serious crime and terrorism. The EDPS Opinions aim to provide advice on further developing data protection safeguards in these future International Agreements so that individuals’ personal data is protected according to EU...

4 May 2023 | The inflation outlook continues to be too high for too long. In light of the ongoing high inflation pressures, the Governing Council today decided to raise the three key ECB interest rates by 25 basis points. Overall, the incoming information broadly supports the assessment of the medium-term inflation outlook that the Governing Council formed at its previous meeting. Headline inflation has declined over recent months, but underlying price pressures remain strong. At the same time, the...

Brussels, 26 April 2023 | Today, the European Defence Agency (EDA) and the Department of Defense of the United States of America (DoD) have formalised a framework for cooperation through the signing of an Administrative Arrangement (AA). The EDA-DoD AA provides for stronger transatlantic cooperation in defence in specific areas, including in the exchange of information. The conclusion of this AA is a strong political signal, delivering on the tasking of EU and U.S. leaders in the June 2021 EU-US Summit...

Today, the Commission adopted the first designation decisions under the Digital Services Act (DSA), designating 17 Very Large Online Platforms (VLOPs) and 2 Very Large Online Search Engines (VLOSEs) that reach at least 45 million monthly active users. These are: Very Large Online Platforms: Alibaba AliExpress Amazon Store Apple AppStore Booking.com Facebook Google Play Google Maps Google Shopping Instagram LinkedIn Pinterest Snapchat TikTok Twitter Wikipedia YouTube Zalando Very Large Online Search Engines: Bing Google Search The platforms have been designated based on...