The informal meeting of Foreign Ministers of the European Union (EU) and the Community of Latin American and Caribbean States (CELAC) took place in New York on 26 September 2024.
Following the pandemic, Russia’s gas shut-off, and fallout from the war in Ukraine, the euro area economy is gradually recovering, and inflation is declining towards target. Banks have proven resilient to the sharp rise in interest rates. Borrowing rates of sovereigns have remained moderate despite high public debt. Despite these reassuring signs, significant challenges remain.
“Preserving and sharpening Europe’s competitive edge in the face of such challenges requires not a reactive and piecemeal approach, but a well-thought out, multi-pronged strategy. Industrial policy may have a role to play as a small part of this strategy, but let me emphasize: in this case small—well-targeted and well-designed—is beautiful” – IMF Managing Director Georgieva.
Uncertainty around the outlook is high and downside risks outweigh, including an abrupt slowdown in Europe, increased commodity price volatility, and rising domestic political tensions. On the other hand, progress on the European Union accession path could provide a reform boost, with positive spillovers.
Denmark has demonstrated remarkable resilience in the face of the pandemic and energy crises. The IMF staff expects robust growth to continue in 2024, but there are considerable external risks, including from geopolitical tensions. The financial system remains sound, but systemic risks are elevated due to still-high interest rates and heightened vulnerabilities in commercial real estate (CRE) markets.
The EU Council reached an agreement on a proposal to simplify certain reporting requirements in the field of financial services and investment support. The proposal updates rules on data sharing between the European Supervisory authorities (ESAs) and other financial sector authorities with the aim to reduce their administrative burden.
The EU Commission is planning to gather input from financial services stakeholders to get an overview of how and for which purposes AI applications are used in the financial sector.
The EU Commission has appointed María Antonia Martinez Luengo as Director ‘Macro-economic statistics’ and Gabriele Semeraro as Director ‘Government Finance Statistics (GFS)’ at the Directorate-General for Statistics of the Commission (DG EUROSTAT).
The EU Commission proposes an EU budget of €199.7 billion for 2025. The budget will be complemented by €72 billion of disbursements under NextGenerationEU. This substantial financial envelope will support the EU in meeting its political priorities while integrating the changes agreed in the mid-term revision of the Multiannual Financial Framework (MFF) in February 2024.
The 2024 European Semester Spring Package provides guidance how to build a robust and future-proof economy that secures competitiveness, resilience and long-term prosperity for all, while maintaining sound public finances, in the face of a challenging geopolitical environment.
The ESAs call for a coherent sustainable finance framework that caters for both the green transition and enhanced consumer protection, taking into account the lessons learned from the functioning of the SFDR.
We and use cookies and other tracking technologies to improve your experience on our website. We may store and/or access information on a device and process personal data, such as your IP address and browsing data, for personalised advertising and content, advertising and content measurement, audience research and services development. Additionally, we may utilize precise geolocation data and identification through device scanning.
Please note that your consent will be valid across all our subdomains. You can change or withdraw your consent at any time by clicking the “Consent Preferences” button at the bottom of your screen. We respect your choices and are committed to providing you with a transparent and secure browsing experience.
| Cookie | Duration | Description |
|---|---|---|
| __stripe_mid | This cookie is set by Stripe payment gateway. This cookie is used to enable payment on the website without storing any patment information on a server. | |
| __stripe_sid | This cookie is set by Stripe payment gateway. This cookie is used to enable payment on the website without storing any patment information on a server. | |
| _abck | This cookie is used to detect and defend when a client attempt to replay a cookie.This cookie manages the interaction with online bots and takes the appropriate actions. | |
| _wpfuuid | This cookie is used by the WPForms WordPress plugin. The cookie is used to allows the paid version of the plugin to connect entries by the same user and is used for some additional features like the Form Abandonment addon. | |
| ASP.NET_SessionId | Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. | |
| AWSALBCORS | This cookie is managed by Amazon Web Services and is used for load balancing. | |
| bm_sz | This cookie is set by the provider Akamai Bot Manager. This cookie is used to manage the interaction with the online bots. It also helps in fraud preventions | |
| cookielawinfo-checbox-analytics | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". | |
| cookielawinfo-checbox-functional | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". | |
| cookielawinfo-checbox-others | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. | |
| cookielawinfo-checkbox-necessary | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". | |
| cookielawinfo-checkbox-performance | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". | |
| elementor | This cookie is used by the website's WordPress theme. It allows the website owner to implement or change the website's content in real-time. | |
| JSESSIONID | Used by sites written in JSP. General purpose platform session cookies that are used to maintain users' state across page requests. | |
| viewed_cookie_policy | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
| Cookie | Duration | Description |
|---|---|---|
| _ga | The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. | |
| _ga_4L7PKQPHHV | This cookie is installed by Google Analytics. | |
| _ga_T50H0MNN9J | This cookie is installed by Google Analytics. | |
| _gat_gtag_UA_12289088_5 | Set by Google to distinguish users. | |
| _gcl_au | Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. | |
| _gid | Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. |
| Cookie | Duration | Description |
|---|---|---|
| test_cookie | The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. |
| Cookie | Duration | Description |
|---|---|---|
| _mcid | No description available. | |
| _swa_u | This cookie is set by the provider Sitewit.com. This cookie is used for statistical report and analysis. | |
| ak_bmsc | No description available. | |
| AWSALB | AWSALB is a cookie generated by the Application load balancer in the Amazon Web Services. It works slightly different from AWSELB. | |
| ec_store_chameleon_font | No description available. | |
| FCCDCF | No description available. | |
| issuem_lp | No description available. | |
| lp_us_his | No description | |
| m | No description available. |