EU Commission applauds text of global E-Commerce Agreement negotiated at WTO
Brussels/Geneva, 26 July 2024 The European Commission welcomes the publication today of the text of
26/07/2024
LATEST NEWS
Three Uncomfortable Truths For Monetary Policy – 1st IMF Deputy Director Gita Gopinath
“The battle against inflation is very much ongoing, both in the euro area and around much of the world. Headline inflation has declined, but the stickier components remain persistently high. Central banks must continue to fight high inflation now, while also determining if—and how—monetary policy strategy may need to change in the future” – IMF First Deputy Managing Director Gita Gopinath for the European Central Bank Forum on Central Banking
26/06/2023
Portugal: IMF Executive Board Concludes 2023 Article IV Consultation
Portugal’s strong recovery continued till early 2023, but near-term growth is expected to soften. Domestic demand growth is projected to be dragged down by high cost of living and export growth to soften. After peaking in late 2022, inflation is expected to gradually ease over 2023 but remain above its target for some time, reflecting the broad-based nature of inflationary pressures.
22/06/2023
Iceland must tackle inflation and make the most of immigration, OECD reports
Iceland’s economy is currently one of the fastest growing in the OECD, driven by foreign tourism and strong domestic demand. But growth is projected to slow as tighter financial conditions and uncertainty weigh on business investment, according to a new OECD report.
21/06/2023
Komerční banka: EIF to facilitate up to €280m in new financing to Czech and Slovakian SMEs
European Investment Fund guarantees will support debt financing for about 6,500 micro, small and medium-sized companies in Czechia and Slovakia, including social enterprises. Favorable lending will boost investment in sustainability, innovation, skills and culture, with a focus on inclusive growth. This agreement was made possible with the support of the InvestEU programme, which aims to trigger over €372 billion in additional investment over the period 2021-27.
21/06/2023
EU Commission aims at long-term EU budget to face most urgent challenges
Within its current bounds, the EU budget has powered a strong EU response, by drawing from its limited built-in flexibilities and through extensive reprogramming. Addressing these multiple challenges has pushed the resources of the EU budget to the point of exhaustion, hindering the EU budget’s capacity to address even the most urgent challenges.
20/06/2023
Digital Resilience: ESAs consult on the first batch of DORA policy products
How to make our financial systems more resilient against digital attacks? The European Supervisory Authorities (ESAs) — EBA for the banks, EIOPA for insurances, and ESMA for financial markets — launched a public consultation on the first batch of policy products under the Digital Operational Resilience Act (DORA). These technical standards aim to ensure a consistent and harmonised legal framework for ICT risk management, ICT-related incident reporting and ICT third-party
19/06/2023
Sweden nominates Thomas Östros to head European Investment Bank
The Government has decided to nominate Thomas Östros as a candidate for the post of President and Chairman of the Board of Directors of the European Investment Bank (EIB).
17/06/2023
EBA criticizes management of money laundering and terrorist financing risks
The European Banking Authority (EBA) today published its report on money laundering and terrorist financing (ML/TF) risks associated with EU payment institutions. Its findings suggest that ML/TF risks in the sector may not be assessed and managed effectively by institutions and their supervisors.
16/06/2023
Euro Area: IMF Staff Concluding Statement on Common Policies for Member Countries
The euro area economy has shown remarkable resilience in the aftermath of Russia’s invasion of Ukraine and the largest terms of trade shock in several decades, thanks to a strong policy response. However, economic activity has weakened and inflation—although gradually declining—remains elevated. Monetary policy must continue to tighten to bring inflation to target in a timely manner. Fiscal consolidation should also proceed to ease inflation pressures and rebuild fiscal space.
16/06/2023
United States: IMF Executive Board concludes 2023 Article IV Consultation
The U.S. economy has proven resilient in the face of the significant policy tightening that took place in 2022. Consumer demand has held up particularly well, boosted initially by a drawdown of pent-up savings and, more recently, by solid growth in real disposable incomes. Prime age labor force participation has risen above its pre-pandemic peak, the unemployment rate for women and African Americans has fallen to historical lows, and real
16/06/2023