COVID 19

The European Commission has welcomed a list of ‘best practices’ agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. These practices include payment moratoria for consumer and business loans, and for insurance contributions: enabling safer cashless payments while ensuring cash payments remain available for […]

The European Commission has released its Summer 2020 Economic Forecast which foresees an even deeper recession for this year than previous estimates. The analysis projects that the euro area economy will contract by 8,7% in 2020 and grow by 6,1% in 2021. The EU economy is forecast to contract by 8,3% in 2020 and grow […]

The European Commission has replied to a parliamentary question on the controversial Bulgarian emergency decree by German MEP Daniel Caspary (EPP). The decree of 13 April 2020 required retailers to allocate “sufficient space” to products from the same administrative district. For some product this local quota was as high as 90%. Caspary sensed a massive […]

The International Monetary Fund (IMF) has again adjusted its economic forecasts due to the coronavirus crisis. For the global economy, the IMF now predicts a 4,9% contraction for 2020. Its forecast for the Eurozone worsened from a 7,5% recession (April) to a 10,2% recession. The economies of France (-12,5%), Spain (-12,8%), Italy (-12,8%), Germany (-7,8%) […]

Under the Temporary Framework, the Commission has again approved State aid schemes launched by Member States to support their economies: a €21 million Belgian aid scheme to support the production of coronavirus-related medical products, equipment, technologies and raw materials in the Flemish Region; a €40 million Portuguese aid scheme to support businesses affected by COVID-19 […]

GENERAL INFORMATION LSA conso has compiled a list of ten tools already available on the market for retail operators to strengthen health security at the point of sale. Examples include: a disinfectant-spraying arch for customers to disinfect their carts; an antimicrobial coating for all contact surfaces; UV light to disinfect baskets and carts; distance sensors […]

In a new Communication dated 11 June, the European Commission is “strongly encouraging” Member States to lift the travel restrictions imposed within the EU by 15 June, and proposes a gradual lifting of the external travel ban by 1 July. Home Affairs Commissioner Ylva Johansson said the Communication should encourage those Member States that have […]

The majority of EU Interior Ministers have agreed to reopen their countries’ borders by 15 June. Following the Council meeting, Home Affairs Commissioner Ylva Johansson said that the Commission aims to return to a fully functional Schengen Zone by the end of June, but also noted that some Member States expressed reluctance “to take that […]

The European Commission has published its second report on the impact of the coronavirus on EU trade. According to the Chief Economist team of the Directorate General for Trade, the pandemic will result in a decrease in global trade between 10%-16% in 2020. For the EU27, the predicted reduction is expected to be between 9%-15% […]

27 May saw several major announcements by the European Commission, including the European coronavirus recovery plan – dubbed “New Generation Europe” – and a new proposal for the Multiannual Financial Framework (the EU’s budget, MFF). “New Generation Europe” is worth €750bn and built on three pillars: Supporting Member States to Recover; Kick-starting the economy by […]