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The EU economy is not expected to have fully made up for this year’s losses by the end of 2021. Next year’s rebound could leave the EU economy about 3% below the level implied by the commission’s autumn 2019 forecast.

EU economic forecast 2020 shows a deep and uneven recession

By: N. Peter Kramer | Friday, May 8, 2020

The recent grown projections for the EU by the European Commission have been revised down by around 9% compared with the forecast of autumn 2019

And the pace of the recovery will be uneven across the 27 EU countries, the EU executive warned, saying the return to growth will be conditioned by the speed at which lockdown measures can be safely lifted.

EU building ‘renovation wave’ set for launch in September

By: EBR | Thursday, May 7, 2020

The European Commission’s energy chief, Kadri Simson, has flagged the upcoming building renovation wave, rooftop solar, and offshore wind as key priorities for the energy sector in the recovery phase from the coronavirus crisis

«..The recovery package must be sizeable and add value, and must be embedded in a strong MFF. We must not lose sight of our long-term investments and strategic objectives. The crisis increased the imbalance between European regions and the recovery plan should help fill this gap..»

Sassoli to EU institutions: “Be brave on EU recovery plan”

By: EBR | Thursday, May 7, 2020

Statement by President Sassoli on the EU recovery plan, which will be anchored to the next Multiannual EU budget

The UK is hoping to capitalise on its new-found ability to strike free-trade deals by increasing opportunities for exports of cars, ceramics, whisky and cheese, while the US stated in its set of objectives last year that it would seek full access for US agricultural products and reduced tariffs for US manufactured goods to the UK market.

As EU negotiations stall, London opens talks on US trade pact

By: EBR | Wednesday, May 6, 2020

The UK and US kicked off on Tuesday (5 May) the first round of talks on a trade deal which London has made a priority following its exit from the EU. The talks with Washington are set to run alongside post-Brexit trade negotiations with the EU

The taxonomy for sustainable investments is a classification system intended for determining what economic activities should be considered in line with sustainable development principles. It is based on six objectives: climate mitigation, climate adaption, protection of water and marine resources, circular economy, pollution, and biodiversity.

Emission thresholds in EU green finance taxonomy are too high. Here’s why

By: EBR | Wednesday, May 6, 2020

Carbon dioxide emission limits in the EU taxonomy suggested by the technical expert group are too high and will make it virtually impossible to reach EU climate goals for 2030 and 2050, argues a group of Swedish lawmakers

The court ruled that the German government and parliament had failed to ensure that he ECB’s purchases were ‘proportionate’.

Germany’s top court criticises ECB crisis bond buying

By: N. Peter Kramer | Wednesday, May 6, 2020

Germany’s Constitutional Court in Germany has ruled that the European Central Bank’s mass bond buying to stabilise the eurozone partly violates the German constitution

The Spring 2020 Economic Forecast projects that the euro area economy will contract by a record 7?% in 2020 and grow by 6?% in 2021.

Spring 2020 Economic Forecast: A deep and uneven recession, an uncertain recovery

By: EBR | Wednesday, May 6, 2020

The coronavirus pandemic represents a major shock for the global and EU economies, with very severe socio-economic consequences

The UN’s International Labour Organisation suggests that 1.4 billion informally employed people are on track to lose their work, which is roughly a third of the global workforce. With fears of some 50 million jobless in wealthier countries, the shantytown encampments, marches, violent strikes and political battles of the ‘Hungry Thirties’ could look like a walk in the park.

As Depression looms, we must shun errors of the ’Hungry Thirties’

By: EBR | Tuesday, May 5, 2020

It’s time for us all to be very afraid; not just of the coronavirus but of its consequences. A ‘Great Depression’ like that of the 1930s is looking increasingly inevitable, and if mishandled could trigger a disastrous train of events

Two Commissioners shared the view that EU culture and values had to be preserved “at all costs” and told MEPs that an EU support plan for the cultural and creative sector was under way, as part of the wider EU recovery plan.

COVID-19: Save European culture and values, MEPs tell Commission

By: EBR | Tuesday, May 5, 2020

Rebuilding the hard-hit cultural and media sectors in post-COVID-19 Europe must be a major objective in the EU’s recovery plan, MEPs said

‘Excluding oil and gas from the definition of fossil fuels is everything but straightforward, it set to confuse the market and opens the door to greenwashing’.

EU regulators undermine EU’s commitment to be global leader in sustainable finance

By: N. Peter Kramer | Tuesday, May 5, 2020

In a draft proposal, the EU regulator ESMA (European Securities and Markets Authority) defines fossil fuels as only applying to ‘solid’ energy sources such as coal and lignite

“Given the low confidence that we have in whether the death tolls that are collected are complete, I would think that this is not a very reliable approach to classifying countries,” said Dr Ammon.

Europe has passed COVID-19 peak, says EU disease control chief

By: EBR | Tuesday, May 5, 2020

Most EU countries are seeing a “substantial decrease” in cases of COVID-19, and Bulgaria is the only EU country where coronavirus cases are increasing, the director of the EU’s disease control agency

MEPs say the plan should make it possible to refocus the budget temporarily on addressing and mitigating the immediate economic and social consequences of the COVID-19 outbreak and on helping in the recovery, including additional flexibility and funding to this end which would be based on what was already done under this year’s budget.

Long-term EU budget: MEPs demand safety net for beneficiaries

By: EBR | Tuesday, May 5, 2020

The current health crisis compels us to tackle the risk of the next long-term EU budget not coming into force on 1 January 2021 with even more urgency, MEPs say

«Thinking about the future of the energy system should, therefore, be the priority. It is what will drive our ability to be more resilient to climate change and to mitigate energy poverty in the long run.»

Leaving no one in the dark, neither today nor tomorrow

By: EBR | Monday, May 4, 2020

When people lose their job or are put under pressure, in particular regarding their health, they should not be worrying about paying their bills

"A strong and effective trade defence is of key importance to protect our companies and jobs against unfair trading practices and to ensure diversity of supply. Making sure our companies operate in fair market conditions will be even more crucial in the times of post-corona crisis recovery..."

Trade defence report: restoring the level playing field for European producers

By: EBR | Monday, May 4, 2020

EU trade defence measures are effective in reducing unfair international trading practices, according to an annual report published today by the European Commission

The European Union is facing a great challenge: how to quickly re-build Europe’s economy in the context of COVID-19 while ensuring to keep itself on the path to become climate neutral by 2050.

We must invest today in the buildings of tomorrow

By: EBR | Monday, May 4, 2020

In the COVID-19 aftermath, making our buildings energy efficient is key to reconcile Europe’s climate objectives with rapid economic recovery

After a difficult start, NATO’s crisis management is working. But such praise deflects attention from the long-term economic, strategic, and political risks that the pandemic carries for the defense sector.

Saving European Defense From the Coronavirus Pandemic

By: EBR | Thursday, April 30, 2020

The coronavirus pandemic will harm European defense strategically, politically, and financially. To mitigate these consequences, Europeans must start shaping joint and immediate answers

According to EU diplomats, the number of countries in favour of more voucher leeway swelled to as many as 20 countries, including Germany and Spain. The development means that if a proposal were to be drafted, there would be sufficient support in Council to pass it.

Twelve countries demand passenger rights suspension

By: EBR | Thursday, April 30, 2020

Twelve countries have asked the European Commission to suspend the law requiring airlines to offer passengers a full refund for cancelled flights, championing the idea of time-limited vouchers as an alternative

Deepening key trade and investment links beyond Brexit will be even more vital against a backdrop of COVID-19 to support economic recovery, according to TheCityUK and economiesuisse

UK and Swiss finance industries join forces to urge new trade model beyond Brexit

By: N. Peter Kramer | Thursday, April 30, 2020

Given the comparability of the Swiss and UK approach to financial market regulation and overall supervisory frameworks, the principle of financial services equivalence as applied by the EU would not be suitable for a bilateral arrangement between Switzerland and the UK.

The UK prime minister is expected to open lines of communication with Ursula von der Leyen, President of the European Commission and tell her that ‘the EU’s mandate is clearly not a realistic solution’.

Boris is back and takes charge of Brexit talks

By: N. Peter Kramer | Wednesday, April 29, 2020

Boris Johnson is to take personal charge of Brexit negotiations on his return to work

The 65% target proposed by Guteland is much higher target than the 50-55% emission cuts promised by the European Commission as part of its Green Deal initiative.

EU lawmaker puts 65% emissions cut on the table

By: EBR | Wednesday, April 29, 2020

The European Parliament is gearing up for tough talks on the EU’s climate target for 2030, with a 65% emissions cut now firmly on the table

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