Chapter News

ECB Press Conference | Christine Lagarde, Luis de Guindos: Monetary policy statement

Thursday, July 22nd, 2021

Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB | Frankfurt am Main, 22 July 2021 | Good afternoon, the Vice-President and I welcome you to our press conference. At today’s meeting, the Governing Council focused on two main topics: first, the implications of our strategy review for our forward guidance on the key ECB […]

IMF | The Resilience of Private Balance Sheets in Europe during COVID-19

Tuesday, July 20th, 2021

One of the positive surprises about last year’s recession is how little damage it inflicted on average household and corporate balance sheets in Europe. In the past, deep recessions were followed by protracted weakness as they left households and businesses with significantly higher debt and lower income and capital. So far this has not been […]

Digital sovereignty: EU Commission kick-starts alliances for Semiconductors and industrial cloud technologies

Tuesday, July 20th, 2021

The European Commission kick-starts today two new Industrial Alliances: the Alliance for Processors and Semiconductor technologies, and the European Alliance for Industrial Data, Edge and Cloud. The two new alliances will advance the next generation of microchips and industrial cloud/edge computing technologies and provide the EU with the capabilities needed to strengthen its critical digital […]

ECB | A new strategy for a changing world

Friday, July 16th, 2021

Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at a virtual event series hosted by the Peterson Institute for International Economics | Last week the Governing Council of the European Central Bank (ECB) published its new monetary policy strategy.[1] It was the ECB’s first review of its strategy since 2003, with most features of […]

Economic and Financial Affairs Council

Tuesday, July 13th, 2021

Main results Infographic – Recovery fund: the EU deliversSee full infographic Ministers focused on the economic recovery. They adopted the first set of Council implementing decisions on the approval of 12 national recovery and resilience plans. Austria, Belgium, Denmark, France, Germany, Greece, Italy, Latvia, Luxembourg, Portugal, Slovakia and Spain can now sign grant and loan agreements and […]

John Bruton | Are we heading for a car crash outcome on the NI Protocol?

Monday, July 12th, 2021

Previously published in the “Irish Times” | The UK’s EU negotiator and its Secretary of State for Northern Ireland published a remarkable article in the “Irish Times “ last week. They complained of what they called the “inflexible requirement to treat movement of goods( from Britain) into Northern Ireland, as if they were crossing an EU […]

Antitrust: EU Commission fines car manufacturers €875 million for restricting competition in emission cleaning for new diesel passenger cars

Monday, July 12th, 2021

The European Commission has found that Daimler, BMW and Volkswagen group (Volkswagen, Audi and Porsche) breached EU antitrust rules by colluding on technical development in the area of nitrogen oxide cleaning. The Commission has imposed a fine of € 875 189 000. Daimler was not fined, as it revealed the existence of the cartel to […]

Progress report to the G20 on LIBOR transition issues: Recent developments, supervisory issues and next steps

Monday, July 12th, 2021

The publication of the majority of LIBOR settings will cease in less than half a year With the end of 2021 getting ever nearer, the transition away from LIBOR is a significant priority for the FSB. Continued engagement from the private sector, in conjunction with a significant commitment by the official sector, remains critical in […]

IMF | Urgent Action Needed to Address a Worsening ‘Two-Track’ Recovery

Thursday, July 8th, 2021

When G-20 finance ministers and central bank governors gather in Venice this week, they can take inspiration from the city’s unbreakable spirit. As the world’s first international financial center, Venice has faced the vagaries of economic fortunes over centuries, while being directly affected by climate change. This extraordinary resilience is needed more than ever as […]

ECB Speech | Escaping low inflation?

Wednesday, July 7th, 2021

Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Petersberger Sommerdialog | Frankfurt am Main, 3 July 2021 | After having lived through the deepest contraction in post-war times, the euro area economy has embarked on a strong recovery from the pandemic. Confidence indicators are at their highest level in more than two decades, […]