The European Systemic Risk Board (ESRB) is cautioning that there could be an onslaught of insolvencies unless the European Union (EU) pivots from loan support to debt restructuring and other efforts to help companies stay afloat. An ESRB report on Wednesday (April 28) outlined the...
Google is calling on the United States to join a Technology and Trade Council (TTC) that was recently proposed by the European Commission. “An expedited high-level trade dialogue on technology issues is critical to avoid unilateral approaches on pressing issues like data flows that are...
The eurozone, facing high unemployment rates in an attempt to keep the pandemic contained, has economists convinced a double-dip economic recession is coming, the Financial Times (FT) reported. Spain is facing five-year unemployment highs, FT reported, adding the country’s numbers rose 44,436 compared to the...
The European Commission and the European Central Bank (ECB) have released a joint statement saying they’re considering beginning work on a digital euro. The statement said both entities are “pursuing their efforts towards ensuring a strong and vibrant European digital finance sector and a well-integrated...
The European Commission said in a report that it is working on a plan to speed up vaccinations and testing to help end the pandemic faster. The report opens with the position that this year will mark “the beginning of the end” of the pandemic,...
In Europe, it’s a shot across the bow for U.S. tech giants. New draft rules tied to the Digital Services Act and Digital Markets Act (collected under the Digital Services Act Package) would broaden European Union regulators’ power to rein in Big Tech. In fact,...
The International Monetary Fund (IMF) said Monday (Nov. 30) in a statement that the second wave of the coronavirus is stifling an economic rebound in the eurozone and additional funding could be necessary. “Rising infections and re-imposed lockdowns have damaged confidence and lowered mobility,” according to...
The European Central Bank (ECB) has plans to independently investigate an incident that affected its TARGET2 real-time gross settlement system on Oct. 23 this year, which resulted in a near 10-hour outage, according to a press release. An initial probe determined that a software defect...
Governments across Europe are re-imposing social distancing measures as COVID-19 roars back from a summer lull, prompting widespread concern of a new round of economic damage, The Wall Street Journal (WSJ) reported on Sunday (Oct. 25). Spain announced a state of emergency, WSJ reported, allowing...