A €46 million loan from EIB to SIMEST will unlock funds to promote two strategic priorities: the green economy and innovation. The EIB will also provide advisory services to bolster SIMEST’s support for innovation and green transition.
Risks are tilted to the downside, with high uncertainty. Two near-term scenarios are noteworthy. First, an abrupt, synchronized global slowdown could take place at the same time as prolonged high inflation in advanced economies, due to monetary policy miscalibration.
As proposed by the Commission in May 2022, this directive aims to amend the rules established back in 2002, strengthen consumer rights and foster the cross-border provision of financial services in the single market.
Green and digital spending will continue to be prioritised to make Europe more resilient and fit for the future.
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its follow-up report to the peer review on the Guidelines on ETFs and other UCITS issues.
Brussels, 6 June 2023 As part of the EU’s push to combat financial crime, EP
The European Commission, which issues EU-Bonds on behalf of the EU, has today successfully completed its 7th syndicated transaction since the beginning of the year, raising a total of €7 billion.
The Commission welcomes today’s political agreement between the European Parliament and the Council to provide law enforcement better and faster access to financial information. This agreement is key in the fight against serious and organised crime. Serious and organised crime knows no borders. Hence authorities carrying out investigations in one Member State often need to access information on bank accounts held in other Member States.
The EP ECON Committee discussed the impact of inflation with the ECB President Christine Lagarde. MEPs from all sides of the political spectrum honed in on the problem of persistently high inflation and the inflation forecasts which predict continuing high rates and discrepancies among the member states.
Cyprus’s economy has been resilient to the fallout from Russia’s invasion of Ukraine. Output grew by 5.6 percent in 2022, as pandemic-affected pent-up demand boosted consumption, tourist arrivals rebounded, and the ICT sector expanded. Employment recovered and unemployment dropped to a post-Cyprus-financial-crisis low. However, high energy prices contributed to inflation and a larger current account deficit.
Early evidence suggests AI could substantially raise productivity. A recent study examined how customer-service agents worked with a conversational assistant that used generative artificial intelligence. The AI assistant monitored customer chats and gave agents suggestions for how to respond. The study found that productivity rose by 14% with the use of this technology.
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