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COVID-19 Response EU Response EU Response to the COVID-19 Pandemic

EU Response to the COVID-19 Pandemic

by Simion & Baciu Law Firm April 27, 2020

Website simionbaciu.ro

 

  1. The 27 leaders of the European Union instructed the Commission on April 23, to prepare a plan to end the crisis, postponing until later the decisions on the solidarity efforts, demanded by the countries of the South to those of the North. (https://www.france24.com/fr/20200423-covid-19-malgr%C3%A9-les-divisions-la-commission-europ%C3%A9enne-charg%C3%A9e-de-pr%C3%A9senter-un-plan-de-relance) 

  2. ECB takes steps to mitigate impact of possible rating downgrades on collateral availability. (https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr200422_1~95e0f62a2b.en.html) 

  3. The European Agency for Safety and Health at Work (EU-OSHA) issued a guidance on coming back to work after coronavirus. (https://oshwiki.eu/wiki/COVID-19:_Back_to_the_workplace_-_Adapting_workplaces_and_protecting_workers) 

  4. The European Commission has approved a French guarantee scheme for small and midsize companies with export activities that are affected by coronavirus outbreak. The scheme is expected to mobilise €150 million. (https://ec.europa.eu/commission/presscorner/detail/en/IP_20_734)

  5. The European Union is joining forces with global partners to kick-start a pledging effort – the Coronavirus Global Response – starting on 4 May 2020. To raise funds in support of this endeavour, the European Union and its partners will organise a worldwide pledging marathon. Countries and organisations around the world are invited to pledge to help reach the target of €7.5 billion in initial funding. (https://ec.europa.eu/commission/presscorner/detail/en/IP_20_710) 

  6. The Council  adopted rules aimed at minimising the effects of the COVID-19 outbreak on the most deprived EU citizens. The amendments to the regulation on the fund for aid to the most deprived (FEAD) will make it easier for member states, partner organisations and other parties involved to access the fund and protect their staff involved in distributing the aid. Around 13 million EU citizens benefit from the fund each year. (https://www.consilium.europa.eu/en/press/press-releases/2020/04/22/covid-19-council-adopts-measures-to-help-the-most-deprived-eu-citizens/) 

  7. The Council today adopted a second legislative act in less than a month amending the rules on the use of EU structural funds, which underpin EU cohesion policy. These changes allow member states to refocus resources on crisis-related operations.(https://www.consilium.europa.eu/en/press/press-releases/2020/04/22/covid-19-more-flexibility-for-deploying-eu-budget-money/) 

  8. The Commission has adopted a proposal for a €3 billion macro-financial assistance (MFA) package to ten enlargement and neighbourhood partners to help them to limit the economic fallout of the coronavirus pandemic. (https://ec.europa.eu/commission/presscorner/detail/en/IP_20_716) 

  9. The European Commission announces a new set of measures to help the agri-food sector cope with the pandemic. (https://ec.europa.eu/info/news/coronavirus-commission-announces-further-measures-support-agri-food-sector-2020-apr-02_en) 

  10. New rules on mutual recognition of goods started applying across the EU on the 19th of April. They will make it faster, simpler and easier for companies, especially SMEs, to sell their products across Europe. (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32019R0515) 

  11. The International Labour Organisation estimates that almost 12m full-time jobs could be lost in Europe because of this crisis. (https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_740893/lang--en/index.htm) 

  12. European Commission officials are planning a €2 trillion recovery plan to restart the EU economy once the threat of coronavirus starts to subside. (https://www.politico.eu/article/document-commission-officials-plan-e2t-post-coronavirus-recovery-package/) 

  13. Coronavirus ‘passed its peak’ in 20 countries, says EU health agency. But the agency says lifting containment measures too quickly risks a ‘sudden resurgence.’ (https://www.politico.eu/article/ecdc-coronavirus-passed-its-peak-in-20-eea-countries/) 

  14. EU Publishes Privacy Guidance on the Use of Contact Tracing Technology in the Fight Against COVID-19. (https://edpb.europa.eu/sites/edpb/files/files/file1/edpb_guidelines_20200420_contact_tracing_covid_with_annex_en.pdf) 

  15. UEFA urges leagues to play out season after coronavirus suspensions. (https://www.eurosport.co.uk/football/champions-league/2019-2020/football-news-uefa-urges-leagues-to-play-out-the-season-after-coronavirus-suspensions_sto7733297/story.shtml)

  16. Five EU member states (Austria, Belgium, France, Greece and Spain) have extended their temporary bans on short selling imposed in line with the emergency process permitted by the EU Short Selling Regulation until 18 May 2020, despite increased pressure from hedge funds to remove the current restrictions. (https://www.esma.europa.eu/press-news/esma-news/esma-issues-positive-opinions-short-selling-bans-austrian-fma-belgian-fsma) 

  17. On 19 March 2020, the European Commission (the Commission) published the Temporary Framework for State Aid Measures to Support the Economy in the Current Covid-19 Outbreak (Covid-19 Communication), which was subsequently amended on 3 April 2020. (https://ec.europa.eu/competition/state_aid/what_is_new/covid_19.html)

  18. Effective March 25, 2020, ahead of Regulation 2019/452 coming into force in October 2020, the European Commission published further guidance on Foreign Direct Investment amid the current public health crisis. (https://trade.ec.europa.eu/doclib/docs/2020/march/tradoc_158676.pdf)

  19. In a bid to give European markets more of a foothold in the global economy and to fend off companies and countries that are “undermining fair competition,” the European Commission unveiled in March a strategy that both encourages the sharing of data between businesses and discourages foreign governments from restricting access to their own markets while taking advantage of those in the EU. (https://www.reuters.com/article/us-eu-industrialpolicy/eu-plans-more-protectionist-antitrust-rules-data-sharing-in-policy-shake-up-idUSKBN1ZO0NC)

  20. In order to ensure that banks are able to focus on key operations throughout the current COVID-19 pandemic, the European Banking Authority has announced a postponement and extension of certain activities.(https://eba.europa.eu/sites/default/documents/files/document_library/News%20and%20Press/Press%20Room/Press%20Releases/2020/EBA%20provides%20clarity%20to%20banks%20and%20consumers%20on%20the%20application%20of%20the%20prudential%20framework%20in%20light%20of%20COVID19%20measures/Further%20actions%20to%20support%20banks%E2%80%99%20focus%20on%20key%20operations%20-%20postponed%20EBA%20activities.pdf) 

  21. The European Securities and Markets Authority has published a statement to ensure the consistent application by issuers of International Financial Reporting Standards within the European Union. (https://www.esma.europa.eu/sites/default/files/library/esma32-63-951_statement_on_ifrs_9_implications_of_covid-19_related_support_measures.pdf)     

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