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This document provides regularly updated information on EU Member States which have 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, Cyprus, Spain and Romania ...

The six Western Balkan countries (Albania, Bosnia and Herzegovina, Kosovo,* Montenegro, North Macedonia and Serbia) are all countries with substantial economic catch-up potential. The EU-led Berlin Process estimated an annual investment need of some €7.7 billion, which would provide the region with an additional 1 % GDP growth and a positive employment effect of up to 200 000 people. However, quality investments are scarce, or often attached to political, environmental and social conditionalities ...

The countries in the Western Balkans are traditionally a focus of Russian interests. The Russian Federation has strong historical ties with the Western Balkans and holds a relative soft-power attraction for them, yet its influence and economic impact in the region are declining, as investment and aid by the EU-27 and other players, such as China, have been dwarfing Russian investment. This ‘At a glance’ note has been produced at the request of a member of the European Committee of the Regions, in ...

The first year of the 117th US Congress (2021-2022) under a 'unified government', where President Biden's party holds a majority of Democrats in the House of Representatives and the Senate, saw strong bipartisan support for shaping closer security, economic and political ties with Taiwan. Perceived as a vibrant democracy, worth protecting to secure peace and security in the Indo-Pacific region, the Biden administration invited Taiwan to the 2021 US Summit for Democracy, defining shared values rather ...

This note looks at the 2022 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 2021 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 ...

Founded in 1967, the Association of Southeast Asian Nations (ASEAN) is often compared with the EU. Both organisations brought together former adversaries and successfully resolved tensions through cooperation, helping to bring peace and prosperity to their regions. However, the EU and ASEAN operate in very different ways. ASEAN is a strictly intergovernmental organisation in which decisions are based on consensus. While this approach has made it difficult for south-east Asian countries to achieve ...

The 2021 G20 Summit, to be held in Rome on 30 and 31 October, was expected to bring together the major economies' leaders in a physical meeting for the first time since the pandemic began. However, several leaders (of Russia, Japan, Mexico and China) have announced that they will not attend in person, limiting opportunities to hold informal bilateral meetings in the margins of the summit. Important decisions designed to put the global economy and society on course towards a greener and more sustainable ...

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 ...

In December 2020, the European Commission proposed the creation of the EU-US Trade and Technology Council (TTC), to facilitate trade, expand investment, develop compatible standards, boost innovation and strengthen the partners' technological and industrial leadership. The TTC also aims to 'lead values-based digital transformation'. Meanwhile, trade between the EU and US continues and is as important as ever, manifested in the fact that, together, they form the largest bilateral economic relationship ...

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 ...