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Before the pandemic, the Greek economy was just getting back onto a positive path, following reforms implemented under the macroeconomic adjustment programmes. Action to address the country's specific characteristics is now all the more important since the -8.2 % downturn of 2020. Greece was among the first four countries to submit its national recovery and resilience plan (NRRP) in April 2021. The plan envisages investments and reforms totalling €30.5 billion, to be implemented up to 2026, with ...

Solvency II review

Briefing 11-04-2022

The IA covers two Commission proposals representing the biggest amendment to date of the Solvency II framework, which came into force in the EU in 2016. Important parts of the framework laid down in delegated and implementing acts will be updated by the Commission at a later stage. This IA builds on a broad consultation of stakeholders, and on extensive advice from the European Insurance and Occupational Pensions Authority (EIOPA). In addition to various reports from EIOPA including a holistic IA ...

To benefit from the Recovery and Resilience Facility (RRF), the unprecedented EU response to the crisis triggered by the coronavirus pandemic, Czechia has decided to use the grant component of its national allocation, without requesting loans. The targeted resources total €7 036 million and represent 1 % of the entire RRF. They amount to 3.1 % of the country’s gross domestic product (GDP) in 2019 (the RRF being 5.2 % of EU-27 GDP in 2019). To receive this support, Czechia has prepared a National ...

Lithuania's National Recovery and Resilience Plan (NRRP) sets out the package of reforms and investment measures designed by the country in the context of the EU response to the crisis triggered by the coronavirus pandemic. In absolute figures, Lithuania has decided to use its full grant allocation of €2 224 million under the Recovery and Resilience Facility (RRF), while declining to avail of the loan component. These resources represent 0.3 % of the entire RRF, equal to 4.6 % of the country's gross ...

The Lisbon Treaty entered into force in 2009, providing the European Union (EU) with exclusive competence in the area of 'direct investment', as part of the common commercial policy. This covers the conclusion of international investment agreements (IIAs), which typically aim to protect and/or liberalise foreign direct investment. Since then, the EU has ratified protection IIAs (or provisions in trade agreements) with Canada, Singapore and Vietnam. Early on, concerns were raised as to the specific ...

To address the consequences of the coronavirus pandemic, the EU has put in place an unprecedented temporary recovery instrument, Next Generation EU (NGEU). Its main spending tool is the Recovery and Resilience Facility, worth €723.8 billion (in current prices). While EU countries differ both in terms of their pre-coronavirus situations and in terms of Covid-19-related impacts, they can all seize the opportunity to kick-start their economies with this financial injection. To access funding under the ...

Following the adoption of the United Nations sustainable development goals in 2015, research and innovation investment strategies worldwide are increasingly geared towards the twin green and digital transitions, in a bid to reinforce the impact of public investments in science and technology by improving their capacity to pool resources and rally various actors, including citizens, behind a specific goal (also known as 'directionality'). Horizon Europe, the 9th EU framework programme for research ...

Given the vast potential for renewable electricity generation, the production of renewable hydrogen is a promising option for the hard-to-decarbonise energy-intensive industry sectors. A growing hydrogen sector will also result in job creation and economic growth while fostering innovation and reducing pollution. The European Commission published its Hydrogen Strategy in 2020 with the aim of boosting hydrogen use in the EU while promoting the uptake of renewable hydrogen production. Recent activities ...

Following the 1975 establishment of diplomatic relations with China, the European Economic Community (EEC) focused its strategic approach – in line with its competences at the time – on support for China's economic opening, launched in 1978 by Deng Xiaoping. While this approach resulted in a swiftly expanding trade and investment relationship, results in other areas are rather mixed. By most accounts, the strategy also failed to contribute to making significant progress on the rule of law in China ...

As the EU’s main investment policy, Cohesion Policy can play a key role in promoting health and in reducing health inequalities. This briefing reviews the role of Cohesion Policy with regard to health in the 2014-2020 period and explores the prospects and challenges that lie ahead. Particular attention is paid to the impact of the COVID-19 pandemic.