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This document provides regularly updated information on EU Member States which receive or received financial assistance from the ESM, the EFSF, the EFSM, the EU balance of payments assistance facility, other Member States and/or the IMF. Since August 2018 all financial assistance programmes to EU Member States have been concluded; therefore, the document focuses on the implementation of the enhanced surveillance framework for Greece and post-programme reviews for Ireland, Portugal, Romania, Cyprus ...

The European Union (EU) and the African Union (AU) have converging interests in a number of areas, such as the fight against climate change and the promotion of sustainable, job-creating economic growth in Africa. However, they still have to find common ground on migration, security management, and fundamental values. In March 2020, the European Commission and the High Representative of the EU for Foreign and Security Policy and Vice-President of the European Commission (HR/VP) proposed to build ...

15 countries signed the Regional Comprehensive Economic Partnership (RCEP) on 15 November 2020. Upon ratification, it will become the largest preferential trade agreement by economic output in the world, with the potential to increase trade and integration among the economies of East Asia. This briefing presents the structure and the content of the agreement, its relationship to existing cooperation in the region, and discusses important economic and political implications. Several notable takeaways ...

The Association Agreement is the main framework for EU-Ukraine relations, and promotes economic and political cooperation, as well as respect for common values. The European Parliament is due to discuss an own-initiative report on its implementation during the February plenary session.

Slowbalisation – understood as the slowdown in global integration – is said to have started in the aftermath of the global financial crisis of 2007-2008. The coronavirus pandemic brought about a further dramatic fall in cross-border movement of goods, services, capital and people, to the extent that commentators have proclaimed the beginning of deglobalisation. This paper examines whether the phenomenon described as slowbalisation is myth or reality, by looking at five different pathways of globalisation ...

The election of the 46th President of the United States took place on 3 November 2020 amidst the unprecedented scenario of the coronavirus pandemic. Following several days of vote-counting, the democratic candidate, Joe Biden, secured the electoral votes needed to become the next President of the United States. His inauguration will take place on 20 January 2021. Domestic concerns, most notably the management of the coronavirus crisis and the economy, as well as racial issues, were the most important ...

Due to the pandemic, the European Semester for economic policy coordination will look rather different (in both form and substance) to what it was in previous cycles. This document provides an overview on how the various policy instruments comprised in the European Semester have been or are being implemented as part of the EU Recovery Plan, notably the interactions with the proposed Recovery and Resilience Facility.

On 21-22 November, under Saudi Arabia's presidency, the G20 will hold its first regular summit in a virtual format. Unavoidably the focus will be on the current crisis, more specifically on protecting lives and livelihoods and restoring growth. Given the crucial role it played in tackling the 2008-2009 financial crisis, hopes are high regarding the G20's potential role in proposing a financial and economic solution to deal with the ongoing downturn. Several major G20 members have invested massive ...

The Commission has launched an assessment and revision of the so-called six-pack and two-pack legislative packages. This paper assesses the successes and shortcomings of the European Semester with a focus on legitimacy, effectiveness and ownership. It argues that in order to address these problems, the framework should be redesigned from a new starting point, which builds on existing divisions of competence and clear decision making structures. This would help to restore the honesty and credibility ...

This note looks at the 2021 recommendation on the economic policies of the euro area proposed by the Commission and agreed by the Council. It also provides an overview of the follow up of the 2020 recommendations, making use of public information and based on proxies such as on how the Eurogroup has integrated euro area recommendations’ concerns in their “thematic discussions” and work programmes. In addition, the note provides a review of the euro area recommendations from an institutional perspective ...