EACC

Its Official: European American Chamber of Commerce Expands Network to The Netherlands

New York/Amsterdam — The newest chapter of the European American Chamber of Commerce (EACC) was formally opened with an inaugural board meeting on June 21st in Amsterdam, the Netherlands.  “This is an important milestone for our trading and investment relationships with the United States,” said newly nominated Board President Myrthe Görtzen a Partner at the Dutch law firm AKD.  “Every additional EACC network partner on either side of the Atlantic will strengthen our ability to build new and mutually beneficial business relationships.”
James Rosener the President of EACC New York commented: Ever since Henry Hudson sailed across the Atlantic to discover New Amsterdam economic relations between the Netherlands and the United States have been strong and growing.  It is only natural that the first chapter in Europe outside of France is in the Netherlands.  For our members in New York and elsewhere in the United States our growing network will help to continue to reinforce the position of the European American Chamber of Commerce as the premier business organization supporting companies doing business on both sides of the Atlantic
“I am delighted to learn about the opening of the Netherlands EACC chapter. The EACC is a valuable platform for transatlantic business relations, creating solid networking and business development opportunities, whilst also providing insightful events with a focus on European-American economic trends and foreign policy. An actual presence in the Netherlands will further strengthen transatlantic ties and enhance business opportunities. The economic relations between our countries go back 400 years and are in full swing, the Netherlands being the 5th largest investor in the USA and the most important gateway to the European market for American products and services” according to Dolph Hogewoning, Consul General of the Kingdom of the Netherlands in New York.
Founding Members of the European American Chamber of Commerce Netherlands (EACC NL) include: Lucas Bols, Deloitte, AKD, Gateway Business Support, Loyens & Loeff and NIPA Capital; General Members so far include: Houthoff and Stibbe. They are part of the larger EACC network which represents over 750 member companies on both sides of the Atlantic. More information about EACC NL can be found at www.eaccnl.eu.
The EACC started in Paris, France and the New York chapter was established in 2008 as the second EACC chapter in the United States, the first US chapter is based in Cincinnati. The network also includes representations in Princeton, NJ, the Carolinas, Lyon (France), Brussels (Belgium), and now The Netherlands.  New chapters are under development in Florida and Washington DC, with other chapters being explored in Milan (Italy), Spain, Germany and Portugal.
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 About the European American Chamber of Commerce in New York
The EACCNY has created a dynamic ecosystem to help its members succeed in their transatlantic business activities. Its trusted and engaged business network assists European companies as they launch and grow their U.S. operations, while also supporting companies from the Tri-state area and beyond as they export and/or establish operations in Europe.
The European American Chamber of Commerce® provides its members with access to transatlantic business opportunities as well as timely and relevant information, resources and support on matters affecting business activities between Europe and the U.S.
The goal of the EACC’s New York Chapter is to stimulate business development, and to facilitate networking and relationships between European and American businesses & professional organizations.
The EACC is a not-for-profit, non-governmental, non-political business association that is 100 percent member funded. The EACC New York is part of a growing network of chapters in the U.S. and Europe: Cincinnati, New Jersey, Carolinas, Paris, Lyon, Brussels and Amsterdam. For more information, visit eaccny.com or follow us on twitter @eaccny

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EACC

Widening Gaps: Regional Inequality within Advanced Economies

Differences in economic performance between regions within countries can be large and sometimes even larger than between countries.
For example, average real GDP per person in the United States is about 90 percent higher than in Slovakia. At the same time, within the United States, per capita GDP in the state of New York is 100 percent higher than in Mississippi.

Many are concerned that these large and persistent gaps signal that regions and people are being left behind, undermining inclusive growth. Poor regional performance can fuel discontent and erode social trust and cohesion.
Chapter 2 of the latest World Economic Outlook looks at the gaps between the better and worse performing regions in advanced economies and finds that these gaps have widened in many cases. We also look at how regional labor markets respond to trade and technology shocks, captured by increases in import competition in external markets and declines in machinery and equipment costs for regions that are more vulnerable to automation. The findings indicate that only technology shocks have lasting effects, especially for worse performing regions.

Differences in economic performance between regions within countries can be large.

Measuring regional differences
One way to measure regional inequality is to calculate the 90/10 ratio—divide real GDP per capita in the top 10 percent regions (or 90th percentile) by the bottom 10 percent within a country. In the case of Italy, the 90/10 ratio is about 2, meaning that GDP per capita of the well-off province of Trento is about twice as large as Sicily’s. In contrast, the 90/10 ratio for Japan is small, at 1.35.
Regional disparities within advanced countries have gradually been creeping upwards since the late 1980s, undoing some of the marked decline of the previous three decades. The 90/10 ratio within advanced economies, including the United States, is now at about 1.7, indicating that the 90th percentile region is, on average, 70 percent richer than the 10th percentile region. That said, incomes tend to vary much more within regions than between them.
Rising disparities also means that poorer regions in advanced economies are no longer catching up to the rich as fast as they used to.

Big differences
The WEO chapter classifies a region as lagging if two conditions are met: the region’s initial real GDP per capita in 2000 is below the country’s median region, and the region’s average growth over the period 2000–16 is below the country’s average growth over the same period.
But there are more differences than just output. On average, people in lagging regions are worse off when it comes to health, with higher infant mortality and lower life expectancy. They also have smaller shares of college-educated workers and people in their prime, considered to be 25 to 54 years old, higher unemployment rates, and a smaller share of people participating in the labor force.
Consistent with these unfavorable demographics, lagging regions tend to have lower labor productivity—output per worker—across sectors. This ranges from about 5 percent less in public services to around 15 percent less in manufacturing industries and finance and professional services.
In addition, poorer regions tend to specialize in agriculture and manufacturing industries rather than high productivity service sectors such as information technology and communications and finance. Climate change may exacerbate disparities as rising temperatures lower labor productivity in agriculture and heat-exposed industries, often affecting lagging regions more.

Responses to shocks
To get a better sense of regional differences, our study analyzes the effects of trade and technology shocks on regional unemployment and migration.
We find that trade shocks—increases in import competition in external markets—do not have significant effects on regional unemployment on average, both overall and for lagging regions specifically. While these shocks tend to reduce labor force participation after one year, this effect quickly fades. These findings may come as a surprise to those who view international trade as particularly disruptive to regional growth.
Technology, however, is a different story. We find that a negative technology shock—proxied by a decline in the cost of machinery and equipment—raises unemployment in all regions that are more vulnerable to automation, but lagging regions are particularly hurt.

Our research also shows that automation-prone lagging regions see a statistically significant drop in people leaving after the shock. This suggests that workers from these regions find it harder to move out in search of better employment than those from other regions. Labor’s adjustment to technology shocks in lagging regions is hampered.
Focus on people and places
Policies that reduce distortions and encourage more open and flexible markets can help regions minimize increases in unemployment to shocks and improve the reallocation of workers and capital. Labor policies to retrain the displaced and speed re-employment can also help, particularly in lagging regions. Product markets that are more open—through lower barriers to entry and greater trade openness—can facilitate the movement of capital to regions and firms where their returns are higher.
In addition, boosting educational and training quality to adapt to the changing world of work—a key recommendation from the literature—would disproportionately benefit lagging regions where unemployment is higher.
Finally, fiscal policies that aim to narrow the gaps across regions—such as targeting fiscal support to lagging regions and programs to ease worker relocation—and to provide buffers against regional shocks may also play a role. But these place-based policies have to be carefully designed to help rather than hinder adjustment.
Compliments of the IMF

EACC

Commission launches new edition of the Cultural and Creative Cities Monitor 2019

Today, the European Commission released the second edition of its Cultural and Creative Cities Monitor, a tool designed to benchmark and boost the creative and cultural potential of European cities, which is vital to driving economic growth and social cohesion. After the success of the first edition in 2017, the 2019 release presents an updated portrait of Europe’s cultural and creative richness in an extended sample of 190 cities in 30 countries, including Norway and Switzerland. The Monitor was created by the Joint Research Centre, the Commission’s science and knowledge service, and is accompanied by a revamped online tool which enables cities to add their own data for more in-depth coverage and benchmarking. 

Tibor Navracsics, Commissioner for Education, Culture, Youth, Sport, and responsible for the Joint Research Centre said: “The first edition of the Cultural and Creative City Monitor proved to be a success, enabling cities across Europe to boost development by better harnessing their cultural assets. I am confident that the second, expanded edition will be equally useful for city authorities, the cultural and creative sectors, and citizens themselves. The Monitor is an excellent example of how the Joint Research Centre can empower policy-makers and help improve citizens’ quality of life through concrete, evidence-based tools.” 
Key findings of the second edition include:
·         Paris (France), Copenhagen (Denmark), Florence (Italy) and Lund (Sweden) rank top in their respective population groups, with Lund being a ‘new entry’ among the top cities compared to the 2017 edition.
·         Jobs in the cultural and creative sectors have been growing particularly in cities in the North and East of Europe, with an average yearly increase of around 12% in Budapest (Hungary), Tallinn (Estonia), Vilnius (Lithuania), Krakow and Wroclaw (Poland) and Tartu (Estonia).
·         Macro-regional performance shows that Northern Europe does best. Western Europe leads on ‘Cultural Vibrancy’, very closely followed by both Northern and Southern Europe. Western Europe is also the top performer on ‘Creative Economy’, with northern Europe coming close behind. The best job creation dynamics are found, on average, in Northern and Eastern European cities.
·         In the analysed city-sample, cultural venues are generally a 30-minute walk away (or just 5 minutes by bicycle) from where European citizens live and are highly accessible by public transportation.
·         Future EU Cohesion Policy funds could further support socio-economic convergence and territorial cohesion by focusing on creative jobs and innovation, transport connections and governance – the areas where the biggest gaps remain.
·         Leading cultural and creative cities are more prosperous: there is a positive and significant association between the Cultural and Creative Cities Index scores and the cities’ income levels.
The first edition of the Cultural and Creative Cities Monitor has inspired local governments across Europe. For instance, Madrid (Spain) used evidence included in the Monitor to understand which cultural and creative assets, such as monuments, museums, cinemas, theatres and art galleries, the Spanish capital should focus its branding strategy on to improve its international ranking. As a result, Madrid published a new leaflet “Madrid – Facts and Figures 2018” promoting the city’s rich cultural venues. The Monitor also helped Győr (Hungary) analyse future investment needs and provided evidence to support the city’s decision to adopt a 2019-2028 cultural and creative economy strategy which identifies key measures to be implemented such as the creation of creative spaces for artists and a design incubation centre. Umeå (Sweden) used the tool to raise awareness among local stakeholders of the role cultural investments have to play in fostering sustainable growth. 
Background
Launched in July 2017, the Cultural and Creative Cities Monitor uses quantitative and qualitative information to measure cities’ cultural and creative potential. The Monitor’s quantitative information is captured in 29 individual indicators relevant to nine policy dimensions, which reflect three major facets of a city’s cultural and socio-economic vitality:
·         “Cultural Vibrancy” measures a city’s cultural ‘pulse’ in terms of cultural infrastructure and participation in culture.
·         “Creative Economy” captures the extent to which the cultural and creative sectors contribute to a city’s economy in terms of employment and innovation.
·         “Enabling Environment” identifies the tangible and intangible assets that help cities attract creative talent and stimulate cultural engagement.
New features of the 2019 edition include:
·         22 European cities from 14 Member States have been added, taking the total to 190;
·         New sources of web data (OpenStreetMap) have been used to better grasp Europe’s cultural vibrancy in a more dynamic way;
·         Novel findings from the spatial analysis of cultural venues help to put the social inclusion perspective at the core of the research alongside economic wealth;
The Monitor supports EU policy on culture: it was a basis for the economic impact assessment underpinning the 2018 ‘New European Agenda for Culture’, and is one of the actions included in the ‘European Framework for Action on Cultural Heritage’ to help ensure that the European Year of Cultural Heritage 2018 has a lasting impact.
The Monitor is expected to be updated every two years. 
Compliments of the European Commission

EACC

Mediterranean and Black Seas: Commission proposes fishing opportunities for 2020

Today, the Commission has adopted its first ever proposal on fishing opportunities covering both the Mediterranean and the Black Seas.
With this proposal, the Commission is delivering on the political commitments made in the MedFish4Ever and Sofia Declarations to promote sustainable management of fish stocks in the Mediterranean and the Black Seas. It reflects the Commission’s efforts and ambition to ensure social and economic viability for the fishermen operating in the region by restoring and maintaining stocks at sustainable levels.
“Throughout my term in office, I have been working to reverse the alarming situation for most fish stocks in the Mediterranean and the Black Sea, as part of the EU’s wider commitment to sustainable fisheries. It is a long process but today’s proposal is another important step in the right direction”, said Karmenu Vella, Commissioner for Environment, Maritime Affairs and Fisheries.
In the Mediterranean Sea, the proposal implements the multiannual management plan for demersal stocks in the western Mediterranean, adopted in June this year. To that end, a reduction of fishing effort is necessary in 2020 for red mullet, hake, deep-water rose shrimp, Norway lobster, blue and red shrimp and giant red shrimp.
The proposal also includes additional measures, in line with the decisions of the General Fisheries Commission for the Mediterranean (GFCM). In particular, it introduces a 3 months closure period for eel, catch and fishing effort limits for small pelagics in the Adriatic and a fishing effort limit for demersals in the Adriatic.
In the Black Sea, the Commission proposes catch limits and quota for turbot and sprat. For turbot, the proposal will transpose the EU quota to be decided in the context of the revision of the GFCM turbot multiannual management plan. For sprat, the Commission proposes to maintain the same catch limit as in 2019, namely 11,475 tonnes.
The Commission proposal will be updated after the GFCM annual session (4-8 November 2019) with the figures of those stocks subject to negotiations within that organisation.
At the December Agriculture and Fisheries Council (16-17 December), Member States will set the fishing opportunities for 2020 on the basis of the Commission proposal.
Background
In 2016, 78% of assessed fish stocksin the Mediterranean and Black Seas were exploited outside biological sustainable limits. (FAO, 2018)
To tackle this grave situation, the Commission is promoting multilateral cooperation on fisheries management in the Mediterranean and the Black Seas. Enhanced governance has been established following the adoption of the Malta “MedFish4ever” and Sofia Declarations.
The multiannual management plan for demersal stocks in the western Mediterranean adopted in June 2019, introduced a fishing effort regime for trawlers intended to achieve an overall reduction of up to 40% in five years. For the first year of implementation, the plan foresees a reduction of 10% from the baseline established in accordance with the provisions of the plan.
The General Fisheries Commission for the Mediterranean (GFCM) is a regional fisheries management organisation competent for the conservation and management of fish stocks in the Mediterranean and the Black Sea. In recent years, the GFCM has adopted an impressive number of conservation, management and control measures at the proposal of the European Union. In 2018, the GFCM adopted a management plan for eel in the Mediterranean Sea and emergency measures for 2019-2021 for small pelagic stocks in the Adriatic Sea. The GFCM is expected to adopt measures regarding demersal stocks in the Adriatic Sea at its annual session in November this year.
In 2017, the GFCM adopted a multiannual management plan for turbot, introducing management and control measures to be implemented for the first time at regional level. The multiannual plan will be reviewed at the GFCM 2019 annual session, where a new quota allocation is expected to be agreed upon by contracting parties.
Compliments of the European Commission

EACC

The Difficulties with the New UK Backstop Proposals

By John Bruton, former Irish Prime Minister (Taoiseach)
There is, at last, some movement in the Brexit negotiation.
On the UK side, Boris Johnson previously insisted on the Irish backstop being scrapped. Now he is making proposals (unacceptable so far to the EU) to rewrite it.
On the EU side, there is a movement too.
 The present Agreement contains a backstop to cover the whole UK. Now the EU is apparently willing to contemplate a backstop confined to Northern Ireland (NI) alone. This is a step backward for Ireland.  An “NI only” backstop would not protect Irish trade with Britain which is more valuable than trade across the border with NI.
Why are the new UK proposals for an NI only backstop unacceptable so far to the EU?
It is hard to give a complete answer to this question because the UK has insisted that its legal text for the new backstop remain confidential. This is a pity because any such text could benefit from constructive criticism from outside the narrow confines of the UK negotiation team and the Article 50 Task Force.
The only thing we have to go on is an Explanatory note published by the UK Government.
The note says the UK Government wants to uphold the Belfast Agreement of 1998. This Agreement was made in good faith by the then Irish government, on the basis of joint Irish and British membership of the EU Single Market, which had come into force only five years earlier in 1993, and had removed trade barriers between the two parts of Ireland.
 If there was at that time any possibility of the UK ever withdrawing from the Single Market, it would have been for the UK side to have brought that up in the negotiations. Neither the then UK government, nor the Tory Opposition, did so.
  If they had, there would probably have been no Belfast Agreement.
This is because the Belfast Agreement is all about convergence between North and South, as well as convergence between Ireland and Britain.  In contrast, Brexit inevitably is about divergence between North and South, AND divergence between Britain and Ireland. At a fundamental level they are incompatible. 
While everybody may now be acting in full good faith, there is also the issue for the EU of the structural reliability of the UK as a negotiating partner. 
 A Conservative government, with a parliamentary majority, signed a joint paper with the EU, committing it to protect the Belfast Agreement and to avoid border controls.  Now another Conservative government, in the same Parliament but now without a majority, wants to renege on that. 
UK public opinion sees no problem with this, but it is difficult for the EU. The EU would be setting a precedent for future negotiations, with the UK and with others. 
The latest UK proposals would align the regulatory standards for goods in NI, with EU standards. This is a welcome move, but it would mean new controls, between NI and Britain, to check compliance with EU standards. On the other hand it would remove the need for controls, for this particular purpose, at the land border in Ireland.
 But the proposals completely ignore tariffs there will be between the EU and UK. Once the transition period is over, imports from the UK will have to pay EU tariffs, which are quite high for some products, particularly agricultural ones. 
These tariffs will have to be collected at or near the land border in Ireland. The proposal to align NI and EU regulatory standards for goods does not solve that problem of tariffs on those same goods. 
The collection of these tariffs at or near the border will be highly contentious, although it will be absolutely necessary if Ireland is to remain in the EU. 
 If , in future, the UK  makes a trade agreements with a third country (say the US), and has to make concessions on either tariffs or goods standards to get these agreements, there would  then have to be additional or wider controls. These wider controls would be the land border for tariffs, and between NI and UK for standards.
 This problem would get steadily worse as time goes on. Boris Johnson has said that the UK will deliberately diverge from EU labour, environmental and product standards and will be making many concessions in his trade deals, so the scope and scale of the controls will become greater all the time.
 These will be either on the land border, or on the Irish Sea. Both go against the convergence goals of the Belfast Agreement. 
The new UK proposals envisage a system of notifications to prevent prohibited products entering the EU and for the collection of VAT. It remains to be seen if these can be rendered compatible with the EU Customs code, which envisages the tariff, tax, and quality status of goods being checked at the same place, at a customs post on the border.
 I expect the Article 50 Task force are now subjecting these UK proposals to forensic examination. They will ensure that Ireland’s status as a fully compliant part of the EU Single Market is not put in doubt and that the VAT is collected.  
The entire UK package would create dangerous new opportunities for smuggling, and smuggling is often used to finance political terrorism and mafia practices. 
The UK proposals are conditional on “Consent” in Northern Ireland to adherence to EU goods and food standards and to the Single Electricity Market.
 They would not to come into effect, without the consent of the NI Executive and Assembly. This consent would have to be renewed every four years. 
 The NI Assembly nowadays seems incapable of meeting, let alone of making decisions, so I do not think the EU being happy to delegate the future of any hard won compromise it makes with the UK to it. It would be giving a regional body, in a non EU state, a power to obviate an Agreement into which the EU would have entered in good faith every four years. We must not forget that the NI Assembly operates on the basis of a “petition of concern” whereby, a minority ( 30 out of 90)  of members in the Assembly, could block consent to deal . 
This  NI “consent” provision is to be inserted into the heart of what one hopes will to be a balanced, and hard fought, overall deal between the UK and the EU. I cannot see the EU agreeing to  all this being subject to the ongoing vagaries of NI politics. 
Compliments of John Bruton

EACC

Statement on the publication of WTO’s award in the Airbus dispute

Following the publication today of the World Trade Organization’s (WTO) award regarding the amount of U.S. countermeasures in the WTO Airbus dispute, Commissioner for Trade Cecilia Malmström made the following statement:
“The European Union takes note of the decision of the World Trade Organization’s (WTO) arbitration panel in the Airbus case, and the level of possible countermeasures.
We remain of the view that even if the United States obtains authorisation from the WTO Dispute Settlement Body, opting for applying countermeasures now would be short-sighted and counterproductive.
Both the EU and the U.S. have been found at fault by the WTO dispute settlement system for continuing to provide certain unlawful subsidies to their aircraft manufacturers.
In the parallel Boeing case, the EU will in some months equally be granted rights to impose countermeasures against the U.S. as a result of its continued failure to comply with WTO rules. A preliminary list of U.S. products to be considered for countermeasures was published last April.
The mutual imposition of countermeasures, however, would only inflict damage on businesses and citizens on both sides of the Atlantic, and harm global trade and the broader aviation industry at a sensitive time.
The European Commission has consistently communicated to the United States that the European Union is ready to work with them on a fair and balanced solution for our respective aircraft industries.
The aircraft sector is amongst the most complex industries in the world, from the development, production and financing point of view. The specificity of the sector calls for comprehensive subsidy disciplines so that all players compete on an equal footing.
The EU has, as recently as this July, shared concrete proposals with the U.S. for a new regime on aircraft subsidies, and a way forward on existing compliance obligations on both sides. So far the U.S. has not reacted.
Our readiness to find a fair settlement remains unchanged. But if the U.S. decides to impose WTO authorised countermeasures, it will be pushing the EU into a situation where we will have no other option than do the same.”
For More InformationWTO decision authorising countermeasuresHistory of the disputeParallel WTO dispute on Boeing and potential EU countermeasures

EACC

New rules make household appliances more sustainable

In a continued effort to reduce Europe’s carbon footprint and to make energy bills cheaper for European consumers, the Commission today adopted new eco-design measures for products such as refrigerators, washing machines, dishwashers and televisions. Improving the ecodesign of products contributes to implementing the ‘Energy efficiency first’ principle of the EU’s Energy Union priority. For the first time the measures include requirements for repairability and recyclability, contributing to circular economy objectives by improving the life span, maintenance, re-use, upgrade, recyclability and waste handling of appliances.

European Commission Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen said: “Whether it is by fostering repairability or improving water consumption, intelligent eco-design makes us use our resources more efficiently, bringing clear economic and environmental benefits. Figures speak for themselves: these measures can save European households on average €150 per year and contribute to energy savings equal to annual energy consumption of Denmark by 2030. It is with concrete steps such as these that Europe as a whole is embracing the circular economy to the benefit of citizens, our environment and European businesses.”
European Commissioner for Climate Action and Energy, Miguel Arias Cañete said: “Together with smarter energy labels, our eco-design measures can save European consumers a lot of money, as well as help the EU reduce its greenhouse gas emissions. Eco-design is therefore a key element in the fight against climate change and a direct contribution to meeting the goals set in the Paris Agreement. As we move towards our long-term goal of a fully decarbonised EU by 2050, our energy efficiency and eco-design strategy will become ever more important”.
Commenting on the adoption of the measures, Monique Goyens, Director general of BEUC, the European Consumer Association, said: “The new repair requirements will help improve the lifetime of everyday appliances that currently fail too quickly. It is crucial we bin the current ‘throwaway’ trend, which depletes natural resources and empties consumers’ pockets. It is excellent news that consumers’ health will be better protected, thanks to fewer flickering light bulbs and the removal of harmful flame retardants in TV screens. The EU has started with five products that most consumers own at home and we strongly encourage legislators to make more product categories repairable.”
Paolo Falcioni, Director General of APPLiA, the European home industry appliance association, said: “The new, ambitious, ecodesign requirements on improving resource efficiency are a tool to ensure that all actors play by the same rules and advance the Circular Culture concept. Provided that market surveillance authorities could have enough resources and coordination to face new difficulties in verifying the compliance with the law.”
Chloé Fayole (Programme & Strategy Director at the environmental NGO ECOS) commented on behalf of the Coolproducts campaign, led by ECOS (European Environmental Citizens Organization) and the EEB (European Environmental Bureau): “Ecodesign continues to be a European success story, in terms of energy savings and now repairability of products. Giving Europeans the right to repair products they own is common sense, and we therefore welcome the decisions that the EU has made.”
The Commission estimates that these measures, together with the energy labels adopted on 11 March, will deliver 167 TWh of final energy savings per year by 2030. This is equivalent to the annual energy consumption of Denmark and corresponds to a reduction of over 46 million tonnes of CO2 equivalent. These measures can save European households on average €150 per year.
These savings come on top of those achieved by the existing eco-design and energy label requirements, which are expected to deliver yearly energy saving of around 150 Mtoe (million tonnes of oil equivalent) by 2020, roughly equivalent to the annual primary energy consumption of Italy.For consumers, this already means an average saving of up to €285 per year on their household energy bills.
Background
After a consultation process, the Commission has adopted 10 ecodesign implementing Regulations, setting out energy efficiency and other requirements for the following product groups: refrigerators; washing machines; dishwashers; electronic displays (including televisions); light sources and separate control gears; external power supplies; electric motors; refrigerators with a direct sales function (e.g. fridges in supermarkets, vending machines for cold drinks); power transformers; and welding equipment.
Compliments of the European Commission

EACC

OECD to launch new report on obesity and the economics of prevention – Thursday 10 October 2019

Overweight and obesity rates among adults continue to climb across OECD countries. Childhood and morbid obesity have gone from a rare event to a common occurrence. Obesity now poses an alarming burden on individuals, societies and economies in OECD countries and beyond.
A new OECD report, The Heavy Burden of Obesity – The Economics of Prevention, will be published at 11.00 a.m. Paris time on Thursday 10 October 2019, the day before World Obesity Day. It analyses the economic, social and health costs of the rising number of people who are obese or overweight. By linking its advanced microsimulation model with the OECD’s long-term projection model, this report estimates the impact of obesity on health expenditure and the wider economy in 52 countries to 2050. The analysis also shows how obesity not only reduces life expectancy but also damages pupils’ school performances, workforce productivity, and undermines economic growth.
The report, together with country notes for Australia, Canada, France, Germany, Italy, Mexico, Spain and the United Kingdom, will be available under embargo on Wednesday 9 October. Requests should be sent by e-mail to embargo@oecd.org. In asking to receive it under embargo, journalists undertake to respect the OECD’s embargo procedures.
Complimenst of OECD

EACC

IMF Executive Board Selects Kristalina Georgieva as Managing Director

The Executive Board of the International Monetary Fund (IMF) today selected Kristalina Georgieva to serve as IMF Managing Director and Chair of the Executive Board for a five-year term starting on October 1, 2019. Ms. Georgieva, who succeeds Christine Lagarde, is the first person from an emerging market economy to lead the IMF since its inception in 1944.
The selection of Ms. Georgieva by the 24-member Executive Board representing the IMF’s 189 member countries brings to a conclusion the selection process initiated by the Executive Board on July 26, 2019 (see Press Release No. 19/302). Following interviews with Ms. Georgieva, Executive Directors selected her for the position, effective October 1.
The Managing Director is the chief of the IMF’s operating staff and Chair of the Executive Board. The Managing Director is assisted by four Deputy Managing Directors in the operation of the Fund, which serves its membership through about 2,700 staff.
Ms. Georgieva, a national of Bulgaria, has been the Chief Executive Officer of the World Bank since January 2017. From February 1, 2019 to April 8, 2019, she was the Interim President for the World Bank Group. Starting in 2010, she was at the European Commission, serving as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, then as Vice President for Budget and Human Resources. Ms. Georgieva has a Ph.D. in Economic Science and a M.A. in Political Economy and Sociology from the University of National and World Economy in Bulgaria, where she also taught from 1977 to 1991.
Compliments of the IMF

EACC

EU-UN Spotlight Initiative: at the forefront of ending violence against women and girls

Today in the margins of the United Nations General Assembly in New York, the European Union and the United Nations are hosting a high level event on the EU-UN Spotlight Initiative – inviting all countries, leaders, civil society representatives and local ambassadors to join the movement and take action to end violence against women and girls.

Ahead of the event, High Representative/Vice-President Federica Mogherini said: “Violence against women is violence against the entire society – so the entire society must react to end it. The European Union is already by far the first investor in gender equality around the world, and together with our partners, we will continue to fight for women’s human rights.”
Commissioner for International Cooperation and Development Neven Mimica added: “Over the last two years Spotlight has become a genuine movement. Thanks to the many survivors, activists, advocates, government and community leaders who have joined the initiative we are pushing ahead to end gender-based violence in all its forms. And to make sure that every woman and every girl, everywhere, is safe and free to realise her full potential.”
Deputy Secretary-General, Amina Mohammed said: “The Spotlight Initiative in partnership with national governments will also be introducing new country programmes for Afghanistan, Belize, Grenada, Guyana, Haiti, Jamaica, Kyrgyzstan, Papua New Guinea, Samoa, Tajikistan, Timor-Leste and Vanuatu in 2020. With our expanded global footprint, we can scale-up our collective efforts on violence prevention, protection and the provision of high-quality services, alongside broader efforts to ensure women’s economic empowerment and participation in all aspects of society.”
Two years after its launch, the Spotlight Initiative’s activities are spanning the entire globe – thanks to the EU’s and UN’s engagement, and the support of partner governments and civil society at all levels. 13 countries have already started implementing Spotlight programmes, and around 2/3 of the European Union’s initial seed funding of €500 million have already been allocated.
In Africa, Spotlight aims to eliminate sexual and gender-based violence, including harmful practices. The programme worth €250 million is under implementation across Liberia, Malawi, Mali Mozambique, Niger, Nigeria, Uganda and Zimbabwe. It will also include a regional component to scale up existing initiatives on fighting female genital mutilation and child marriage and joint activities with the Africa Union.
In Asia, the Spotlight Initiative is focussing on ending female trafficking and labour exploitation. The “Safe and Fair” programme, worth €25 million and implemented through the International Labour Organization and UN Women, aims at ensuring that labour migration is safe and fair for all women in the ASEAN region. It focusses on countries of origin – Cambodia, Indonesia, Lao PDR, Myanmar, Philippines, Vietnam – and countries of destination – Brunei Darussalam, Malaysia, Singapore and Thailand.
Further, €32 million are devoted to projects addressing gender-based violence in “forgotten crises”. The initiative is now rolling out and includes activities in Yemen, Iraq and Palestine, Bangladesh, Cameroon, Sudan, Mali and Chad; Ghana, Liberia and Mali.
In Latin America, the €50 million initiative focuses on ending femicide, with targeted programmes in Argentina, El Salvador, Guatemala, Honduras and Mexico, and on empowering regional networks.
The Pacific regional Spotlight programme was launched last March with a budget of €50 million and focuses on ending domestic violence in the region.
This will be followed by actions to tackle family violence in the Caribbean region, supported by an envelope of €50 million; the countries selected are Haiti, Jamaica, Grenada, Belize, Guyana, and Trinidad and Tobago.
Background
Violence against women and girls still takes place every day, whether at home, at work, at school, in the street, or online. As many as 1 in 3 women worldwide have experienced physical or sexual violence at some point in their lives.
The European Union and the United Nations launched the Spotlight Initiative, a multi-year partnership to eliminate all forms of violence against women and girls (VAWG) in September 2017.
The EU has offered initial seed funding of €500 million inviting other donors and partners to join the Initiative to broaden its reach and scope.
Public participation, ambitious political action that are built on evidence-based policies, as well as increased resources and knowledge generation are all vital to the Initiative.
Compliments of the European Commission