European Economic and Social Committee,update

 

Invitation Remote public hearing – EESC 26/11/2021 | 10:00 – 13:00 and 14:30 - 16:00 | Online

A Just Transition for workers of European industries: fostering opportunities for reskilling and upskilling

On 26 November 2021, the EESC's Labour Market Observatory will hold a remote public hearing on A Just Transition for workers of European industries: fostering opportunities for reskilling and upskilling. The green and digital transition have brought many challenges and opportunities for the EU industry. Investment in skills is essential to support the twin transition and to contribute to a fair recovery. The event will examine, through a discussion with civil society organisations and socio-professional stakeholders, how to ensure a just transition for workers of European industries, taking into consideration the need to strengthen opportunities for reskilling and upskilling. The event includes a webinar taking place in the context of the series of EESC events related to the New Industrial Strategy. Speakers include representatives of the European Commission, Cedefop and the EESC, as well as the social partners and other civil society organisations. A programme is available here.   Please register through this registration form. Registration is possible until Wednesday 24 November, 12.00 p.m. A link will be shared with registered persons before the event.

Invitation Audition publique à distance — CESE 26/11/2021 | 10:00 – 13:00 et 14:30 - 16:00 | En ligne

Une transition juste pour les travailleurs des industries européennes: favoriser les possibilités de reconversion et de perfectionnement professionnels

Le 26 novembre 2021, l'Observatoire du marché du travail du CESE tiendra une audition publique à distance sur le thème "Une transition juste pour les travailleurs des industries européennes: favoriser les possibilités de reconversion et de perfectionnement professionnels". La transition verte et numérique a entraîné de nombreux défis et opportunités pour l'industrie européenne. L'investissement dans les compétences est essentiel pour soutenir la double transition et contribuer à une reprise équitable. L'événement examinera, par le biais d'une discussion avec des organisations de la société civile et des acteurs socioprofessionnels, comment assurer une transition juste pour les travailleurs des industries européennes, en tenant compte de la nécessité de renforcer les possibilités de reconversion et de perfectionnement professionnels. L'événement comprend un webinaire qui se déroule dans le cadre de la série d'événements du CESE liés à la Nouvelle Stratégie Industrielle. Les intervenants comprennent des représentants de la Commission européenne, de Cedefop et du CESE, ainsi que des partenaires sociaux et d'autres organisations de la société civile.   Un programme est disponible ici. Vous pouvez vous inscrire via ce formulaire d'inscription. L'inscription est possible jusqu'au mercredi 24 novembre à 12h00. Un lien sera partagé avec les personnes inscrites avant l'événement.

European Economic and Social Committee / Comité économique et social européen Rue Belliard 99, 1040 Bruxelles

IMF interesting latest news

 

Gita Gopinath and Raghuram Rajan in Conversation November 15, 2021 It's been almost 2 years since the coronavirus began to disrupt economies across the globe. In this podcast, IMF Chief Economist Gita Gopinath asks Raghuram Rajan about inflation and his views on what Central Banks should be doing to minimize the damage caused by the pandemic. Rajan is a former Governor of the Bank of India and former IMF Chief Economist. He's also the author of several books including The Third Pillar: How Markets and the State Leave the Community Behind. This podcast is an abridged version of their discussion, you'll find a webcast of the full event at IMF.org. Listen to the Podcast Read the Transcript   ***** Thanks for listening to the podcast. We're always looking to improve your experience so let us know if you have any suggestions! Send your comments to me at bedwards2@imf.org.   Bruce Edwards Producer, IMF Podcasts

Dear maria, We just published a new blog—please find the full text below. Latin America’s Inflation Challenge By Maximiliano Appendino Inflation has surged in the largest economies of Latin America, prompting large central banks in the region to raise interest rates before economic activity has fully recovered. Our latest Regional Economic Outlook shows how rapidly inflation is rising. In the first year of the pandemic, average inflation in Brazil, Chile, Colombia, Mexico, and Peru—the LA5—was below the average for other emerging market economies. It’s now higher, averaging 8 percent year-on-year in October and in the case of Brazil, surpassing 10.5 percent. Soaring food prices are partly driving the surge. They started increasing even before the pandemic and have risen more than 18 percent on average in LA5 countries since January 2020. In Latin America, food prices make up about a quarter of the average consumption basket. For households still reeling from the coronavirus crisis, higher food bills leave less to spend on other goods. In a region with the highest levels of income inequality, the burden is highest for low-income households who spend a larger share of their income on food. Even core inflation, which excludes food and energy prices, has exceeded the pre-pandemic trend this year, reaching an average of 5.9 percent year-on-year in October. Inflationary pressures should be temporary and medium-term inflation will likely revert to central bank targets. But there is a lot of uncertainty. The shock from the pandemic is unique and its impact on commodity prices, supply bottlenecks, and rising shipping costs is hard to pin down. The region is also battling a long history of high and unstable inflation—a challenge for central banks that have only recently established their credibility. This history may have led to indexation practices (contracts that adjust their terms automatically with inflation) that could accelerate prices further. There is also the risk that international financial conditions tighten rapidly and unexpectedly in response to inflation developments in advanced economies, leading to capital outflows. This potential shock could jeopardize financial stability and depreciate currencies in Latin America, adding to inflationary pressures. Managing expectations, through statements or rate hikes, is a key factor in heading off an inflationary spiral, which is why central banks in the region are moving fast to preserve their hard-won credibility in an uncertain environment. All LA5 countries have already hiked policy rates and their monetary authorities have shifted up forward guidance. Despite the recent rate hikes, monetary policy stances generally remain accommodative and continue to support the ongoing recovery. The region nevertheless faces difficult trade-offs and needs to balance an uncertain inflation outlook with employment still substantially below pre-pandemic levels and an uneven recovery in Latin America’s jobs market. ***** Related links: Surging Energy Prices May Not Ease Until Next Year Inflation Scares in an Uncharted Recovery Four Facts about Soaring Consumer Food Prices Glenn Gottselig Managing Editor IMF Blog ggottselig@IMF.org

Nigeria Five Observations on Nigeria’s Central Bank Digital Currency Nigeria’s new central bank digital currency, the eNaira, is expected to increase financial inclusion and facilitate remittances but potential risks will need to be managed. (photo: Andre M. Chang/ZUMAPRESS/Newscom) By Jack Ree, IMF African Department   The Central Bank of Nigeria (CBN) officially launched the “ eNaira”—a central bank digital currency (CBDC)—on October 25, 2021. This is the second CBDC fully open to the public after the Bahamas. Other countries and regions, such as China and the Eastern Caribbean Currency Union, have been conducting CBDC pilots with a subset of their citizens. Given the size and complexity of Nigeria’seconomy, this launch is drawing substantial interest from the outside world—including from central banks. 1. What is eNaira? Like coins or cash, the eNaira is a liability of the CBN. The eNaira uses the same blockchain technology as Bitcoin or Ethereum and, like them, the eNaira is stored in digital wallets and can be used for payment transactions; and it can be transferred digitally and at virtually no cost to anyone in the world with an eNaira wallet. There are, however, important differences. First, the eNaira features stringent access right controls by the central bank. Second, unlike these crypto-assets, the eNaira is not a financial asset in itself but a digital form of a national currency and draws its value from the physical naira, to which it is pegged at parity. 2. Why did Nigeria introduce eNaira? According to the CBN, the eNaira is envisaged to bring multiple benefits, which are expected to materialize gradually as the eNaira becomes more widespread and is supported by a robust regulatory system. Key benefits include the following: Increase in financial inclusion. For now, the eNaira wallet is provided only to people with bank accounts, but its coverage is expected to eventually expand to anyone with a mobile phone even if they do not have a bank account. A large number of people do not have bank accounts (38 million people; 36 percent of the adult population), and allowing those of them with a mobile phone to have access to the eNaira would increase financial inclusion and facilitate more direct and effective implementation of social transfers programs. It is expected that the move would enable up to 90 percent of population to use the eNaira. Facilitation of remittances. Nigeria is among the key remittance destinations in sub-Saharan Africa, with remittance receipts amounting to $24 billion in 2019. Remittances typically are made through international money transfer operators (e.g., Western Union) with fees ranging from 1 percent to 5 percent of the value of the transaction. The eNaira is expected to lower remittance transfer costs, making it easier for the Nigerian diaspora to remit funds to Nigeria by obtaining eNaira from international money transfer operators and transferring them to recipients in Nigeria by wallet-to-wallet transfers free of charge. Exchange rate reforms, including a unified market-clearing rate, that reduce the gap between official and parallel market exchange rates would enhance the incentives for using eNaira wallets to send remittances. Reduced informality. Nigeria has a large informal economy, with transactions and employment equivalent, respectively, to over half of GDP and 80 percent of employment. The eNaira is account-based, and transactions are in principle fully traceable, unlike token-based crypto asset transactions. Once the eNaira becomes more widespread and embedded into the economy, it may bring greater transparency to informal payments and strengthen the tax base. Informal and formal businesses may also benefit if eNaira adoption enhances consumption through greater financial inclusion. 3. What are the potential risks? Like digital currencies elsewhere, the eNaira carries risks for monetary policy implementation, cyber security, operational resilience, and financial integrity and stability. For example, eNaira wallets may be perceived, or even effectively function, as a deposit at the central bank, which may reduce demand for deposits in commercial banks. Relying as it does on digital technology, there is a need to manage cybersecurity and operational risks associated with the eNaira. 4. What are the authorities doing to mitigate the potential risks? The authorities have taken measures to manage the risks. The transfer of funds from bank deposits to eNaira wallets is subject to daily transactions and balance limits to mitigate risks of diminishing the roles of banks and other financial institutions. Financial integrity risks, such as those arising from the potential use of the eNaira for monetary laundering, are mitigated by using a tiered identity verification system and applying more stringent controls to relatively less verified users. For example, for now only people with a bank verification number can open a wallet, but over time coverage will be expanded to people with registered SIM cards and to those with mobile phones but no ID numbers. The latter categories of holders would be subject to tighter transactions and balance limits. Even so, wallet holders who meet the highest identity verification standards cannot hold more than 5 million naira (about $12,200) each in their eNaira wallets. To address cybersecurity risk, regular IT security assessments are expected to be conducted. 5. What can the IMF do? The IMF remains available to help with technical assistance and policy advice. The IMF’s Monetary and Capital Markets Department has been involved in the eNaira rollout process, including by providing reviews of the product design. The 2021 IMF Article IV mission emphasized the need for monitoring risks and macro-financial impacts associated with a central bank digital currency. [1] The IMF is ready to collaborate with the authorities on data analysis, cross-country studies, sharing the eNaira experience with other countries, and discussing further evolution of the eNaira including its design, regulatory framework, and other aspects.   Jack Ree is an economist in the IMF African Department [1] Press Release for conclusion of 2021 Nigeria Article IV consultation is expected to be posted in mid-November 2021. RELATED LINKS Making the Digital Money Revolution Work for All A New Era of Digital Money Central Bank Digital Currencies: 4 Questions and Answers Five Questions About Nigeria’s Road to Recovery

PBGC Releases FY 2021 Annual Report

 

PBGC Releases FY 2021 Annual Report Multiemployer Program Finances Substantially Improved; Single-Employer Program Continues Improvement FOR IMMEDIATE RELEASE November 16, 2021  WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) today released its Fiscal Year (FY) 2021 Annual Report. The Multiemployer Insurance Program’s positive net position of $481 million at the end of FY 2021 is in sharp contrast to the agency’s deep deficit of $63.7 billion at the end of FY 2020, a dramatic improvement of $64.2 billion. The agency’s Multiemployer Insurance Program — which was expected to run out of money in FY 2026 — is now likely to remain solvent for more than thirty years, due to the enactment of the American Rescue Plan Act of 2021 (ARP). PBGC’s Single-Employer Program remains financially healthy with a positive net position of $30.9 billion at the end of FY 2021, compared to $15.5 billion at the end of FY 2020, an improvement of $15.4 billion. “For the first time in twenty years, PBGC’s insurance programs are both reporting positive net financial positions,” PBGC Director Gordon Hartogensis said. “The solvency of PBGC’s Multiemployer Insurance Program — which was facing a near-term crisis — has been extended by decades into the future. We are working expeditiously on implementing the Program to ensure that over three million of America’s workers, retirees, and their families receive the pension benefits they earned through many years of hard work.”  Multiemployer Program Finances Significantly Improves  The Multiemployer Program’s net financial position shifted from a negative net position of $63.7 billion as of September 30, 2020, to a positive net position of $481 million as of September 30, 2021, a dramatic improvement of $64.2 billion. The significant increase in net position is due to the enactment of ARP — the historic law passed by Congress and signed by President Biden on March 11, 2021 — which created the Special Financial Assistance (SFA) Program. PBGC estimates that the SFA Program will provide funding to over 250 severely underfunded pension plans and will ensure that over three million of America’s workers, retirees, and their families receive the pension benefits they earned through many years of hard work. Prior to the enactment of ARP, PBGC’s Multiemployer Program was projected to become insolvent in FY 2026, jeopardizing the retirement security of millions of workers and retirees. ARP significantly extends the solvency of PBGC’s Multiemployer Program. The dramatic improvement in net position results from a significant reduction in program liabilities due to the “unbooking” of the liability for plans that were expected to fail and call on PBGC for assistance in the next decade.  During FY 2021, the agency provided $230 million in regular financial assistance to 109 multiemployer plans, up from the previous year’s payment of $173 million to 95 plans. Single-Employer Program Continues Improvement The Single-Employer Program had assets of $150.7 billion and liabilities of $119.8 billion as of September 30, 2021. The positive net position of $30.9 billion reflects an improvement of $15.4 billion in FY 2021, compared to $15.5 billion in FY 2020. During FY 2021, the agency paid over $6.4 billion in benefits to nearly 970,000 retirees in terminated single-employer plans. PBGC also assumed responsibility for the benefit payments of nearly 34,000 workers and retirees in 47 single-employer plans that were trusteed during FY 2021. About PBGC’s FY 2021 Financial Report PBGC’s financial statements are prepared in accordance with generally accepted accounting principles in the U.S. For FY 2021, PBGC received an unmodified audit opinion on its financial statements, as well as an unmodified audit opinion on internal control over financial reporting. Ernst & Young LLP performed the audit under contract with PBGC’s Office of Inspector General, which oversaw the audit. Separately, PBGC publishes a Projections Report each year that illustrates the possible future financial condition of the agency’s two insurance programs. About PBGC PBGC protects the retirement security of over 33 million American workers, retirees, and beneficiaries in both single-employer and multiemployer private sector pension plans. The agency’s two insurance programs are legally separate and operationally and financially independent. PBGC is directly responsible for the benefits of more than 1.5 million participants and beneficiaries in failed pension plans. The Single-Employer Insurance Program is financed by insurance premiums, investment income, and assets and recoveries from failed single-employer plans. The Multiemployer Insurance Program is financed by insurance premiums. Special financial assistance for financially troubled multiemployer plans is financed by general taxpayer money.  — ### —

COUNCIL OF THE EUROPEAN UNION:The green and digital transformation is the way forward for the future of the tourism ecosystem

Tuesday 16 November 2021

● Council of the EU

16/11/2021 | Press release |

The green and digital transformation is the way forward for the future of the tourism ecosystem

On Tuesday 16 November 2021, EU tourism ministers held an informal meeting via an audio-video link. The debate focused on the transition pathway for a green and digital transformation of the European tourism ecosystem by 2030.

PRESS RELEASE NOVEMBER 16, 2021 8:00 PM
The green and digital transformation is the way forward for the future of the tourism ecosystem


©Government Communication Office
On Tuesday 16 November 2021, EU tourism ministers held an informal meeting via an audio-video link. The debate focused on the transition pathway for a green and digital transformation of the European tourism ecosystem by 2030.

The meeting was chaired by the Minister of Economic Development and Technology, Zdravko Počivalšek, who opened the meeting by saying that the European Union had managed to take the first emergency measures in 2020 and 2021 to help the tourism industry in the wake of the COVID-19 pandemic. "This helped the tourism ecosystem overcome the first shock. However, it is essential that these short-term measures are followed by longer-term ones". He stressed: "The tourism ecosystem needs to be transformed in a way that makes it more resilient, sustainable and ready for the new market challenges and for changing patterns of behaviour of tourism consumers."

At the meeting, the ministers discussed key actions to prepare a concrete set of measures for the recovery of the tourism ecosystem. These measures will facilitate the "transition pathway for recovery", with a focus on promoting the green and digital transition of the tourism ecosystem.

They agreed that tourism recovery must be at the heart of the green and digital transition and that we need to build a sustainable and resilient tourism ecosystem. In this context, they stressed the need to strengthen the resilience of European businesses and industry, also in the light of future crises. They further drew attention to the need to restore safe tourism travel and to rebuild consumer confidence in it. They recalled the importance of an open and well-functioning single market that will ensure open transport routes, and highlighted the importance of financing the recovery of the tourism sector.

The ministers also stressed the importance of education and training, as well as the relevant re-skilling and up-skilling in the tourism ecosystem. This is important to ensure that people have the right skills to meet the challenges of digitalisation and the green transition.
An important part of the recovery and twin transition is the provision of suitable databases and common data spaces for data sharing. Innovation for the tourism ecosystem needs to be strengthened and business processes need to be accelerated. In their discussions, the ministers called for the differences in development between EU member states and regions to be taken into account, as remote and island regions are a specific type of region that also requires sustainable and digital solutions. The ministers also called for the involvement of all stakeholders in the recovery process at all levels. They stressed the importance of sharing best practices and the need to ensure sufficient time to prepare recovery measures.

The ministers concluded the discussion by agreeing that the transition pathway provides a good basis for the preparation of the European Tourism Agenda 2030–2050. In conclusion, the minister chairing the meeting said that this discussion would make an important contribution to the continuation of efforts to complete the transition pathway for the recovery of the tourism ecosystem. "Given the Presidency's vision of a safe, green, smart, responsible, inclusive European tourism of the future, I am proud that Slovenia has already committed to green and sustainable tourism before the COVID-19 crisis. It is essential that the EU also embarks on the twin transition if we are to maintain Europe's global competitiveness and be the number one tourist destination in the world. This must be our common goal!" he said, concluding today's meeting.

CDU latest

 

Berlin, 17. November 2021

Terminhinweis     Sehr geehrte Damen und Herren,   hiermit möchte ich Sie über die Termine der CDU Deutschlands am Montag, den 22. November 2021, im Konrad-Adenauer-Haus informieren und zur Berichterstattung einladen.   09:00 Uhr Präsidiumssitzung -hybrid-   11:00 Uhr Bundesvorstandssitzung -hybrid-   ca. 13:30 Uhr Pressekonferenz mit dem Generalsekretär der CDU Deutschlands, Paul Ziemiak MdB Hinweise für Fernsehteams und Fotografen:   Poolführendes Fernsehteam: ARD – Telefon: 030 / 22 88 17 10 Fotografen (Pool): Es werden max. 4 Fotografen (1 x Nachrichtenagentur national, 1 x Nachrichtenagentur international, 1 x Bildagentur und 1 freier Fotograf-BPK) zugelassen. Um die Abstandsregeln einzuhalten, können wir nur max. 6 Journalistinnen und Journalisten mit gültiger BPA-Akkreditierung zur Pressekonferenz zulassen. Wir bitten um Ihr Verständnis.   Im Konrad-Adenauer-Haus gilt die 2G-Regel (Geimpft, Genesen) zuzüglich einem tagesaktuellen, negativen Coronatest.   Bitte achten Sie auch selbst darauf, dass die Abstandsregeln von mindestens 1,50 m eingehalten werden.   Wir bitten um eine schriftliche Anmeldung der Journalistinnen und Journalisten, sowie der Fotografinnen und Fotografen, die ins Konrad-Adenauer-Haus kommen möchten unter pressestelle@cdu.de.   Akkreditierungsschluss: Freitag, 19. November 12:00 Uhr   Folgende Angaben werden benötigt: Vor- und Nachname, Medium, E-Mail, Mobilnummer, private Meldeadresse. Es gilt die Reihenfolge der Anmeldungen.   Sie können die Pressekonferenz live über Webex verfolgen. Über folgenden Link gelangen Sie automatisch zur Pressekonferenz:   Meeting-Link: https://cdudeutschland.webex.com/cdudeutschland-de/j.php?MTID=m5a594d784e45c856802877670556c6b8   Meeting-Kennnummer (Zugriffscode): 2391 031 1935   Meeting Passwort: EGw7aUzXy48   Sie können die Pressekonferenz auch im Live-Stream auf cdu.de verfolgen.   Wir freuen uns über Ihre Teilnahme.   Mit freundlichen Grüßen   Hero Warrings Sprecher der CDU Deutschlands

Στην Dogs' Voice ο Γραμματέας της Νέας Δημοκρατίας Γιώργος Στεργίου

 

Αθήνα, 16 Νοεμβρίου 2021   Στην Dogs' Voice ο Γραμματέας της Νέας Δημοκρατίας Γιώργος Στεργίου Στο πλαίσιο της δράσης «Νοιαζόμαστε» της Νέας Δημοκρατίας που ξεκίνησε τον Απρίλιο του 2020 με στόχο την ενίσχυση συλλόγων και οργανώσεων που προσφέρουν εθελοντικά στο κοινωνικό σύνολο, κλιμάκιο του κόμματος με επικεφαλής τον Γραμματέα Γιώργο Στεργίου επισκέφθηκε την Dogs’ Voice και παρέδωσαν φαρμακευτικό υλικό. Το Dogs' Voice είναι ένας μη κερδοσκοπικός οργανισμός που στηρίζει το έργο 112 φιλοζωικών οργανώσεων σε όλη την Ελλάδα. Έχει πρωτοστατήσει τα τελευταία χρόνια στη διάσωση και περίθαλψη ζώων κατά τη διάρκεια φυσικών καταστροφών. Πραγματοποιεί εκπαιδευτικά προγράμματα για την ευαισθητοποίηση μαθητών σχετικά με τα αδέσποτα, τις υποχρεώσεις που συνοδεύουν τους κηδεμόνες κατοικιδίων καθώς και τους τρόπους με τους οποίους οφείλουμε να συμπεριφερόμαστε στα ζώα. Παράλληλα, υλοποιεί ένα εθνικής εμβέλειας πρόγραμμα στείρωσης σκύλων και προωθεί αδέσποτα ζώα σε υπεύθυνες υιοθεσίες. Ο Γραμματέας της Πολιτικής Επιτροπής της Νέας Δημοκρατίας Γιώργος Στεργίου, αφού συζήτησε με την ιδρύτρια του Dogs’ Voice κ. Ελένη Δέδε, δήλωσε: «Ο Κυριάκος Μητσοτάκης προσωπικά και η κυβέρνηση της Νέας Δημοκρατίας, με στοχευμένες νομοθετικές πρωτοβουλίες αλλά και πράξεις σημειολογίας, υπηρετούν με συνέπεια το όραμα “Κανένα ζώο αδέσποτο, κανένα ζώο κακοποιημένο”. Μετά την πρόσφατη θέσπιση του πλαισίου για την Ευζωία των Ζώων Συντροφιάς, περνάμε στην πιο κρίσιμη φάση, αυτή της εφαρμογής του. Όλοι όσοι αγαπάμε τα ζώα ας αξιοποιήσουμε τις πρόνοιες του νόμου για να μεγιστοποιήσουμε τα οφέλη του. Πάντα μέσα από έναν διαρκή καλοπροαίρετο διάλογο και συνεργασία μεταξύ Πολιτείας, Αυτοδιοίκησης και Κοινωνίας των Πολιτών». Το φαρμακευτικό υλικό που παραδόθηκε συγκεντρώθηκε από μέλη του κόμματος ύστερα από πρωτοβουλία της Γραμματείας Ποιότητας Ζωής και Εθελοντισμού και του Τομέα Αθλητισμού της Νέας Δημοκρατίας. Στην επίσκεψη συμμετείχαν η Γραμματέας Πίστη Κρυσταλλίδου και ο επικεφαλής του Τομέα και μέλος της Πολιτικής Επιτροπής του κόμματος Παναγιώτης Βαλασόπουλος.