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The outermost regions and the EU: a privileged, renewed and strengthened partnership

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The Commission is today presenting a new strategy for the outermost regions, those nine regions located thousands of kilometres from continental Europe, to help them fulfil their full potential.

For many years the EU has acknowledged the specific features common to the Azores, the Canary Islands, Guadeloupe, Guyana, Madeira, Martinique, Mayotte, Réunion and Saint Martin, and has afforded them a special status. For the first time, however, the Commission is working with the Member States to establish customised support to help these regions build on their unique assets and create opportunities for their inhabitants.

European Commission President, Jean-Claude Juncker, said: “I have always paid particular attention to the nine regions we call the outermost regions, which are first and foremost European regions, and which project Europe’s presence in the world. This strategy, which provides the basis for a renewed, strengthened and privileged partnership, is a new specific example of a Europe that protects, provides the means to act and offers equal opportunities to everyone.”

Commission Vice-President responsible for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, said: “We want these regions to have easier access to the European fund for strategic investment, which is at the heart of the investment plan. A dedicated initiative with the European Investment Bank will help, with enhanced technical support, to make the planning and financing of projects more effective.”

The Commissioner for Regional Policy, Corina Crețu, added: “The EU is helping these regions to overcome their difficulties, so that none of them feel isolated or left behind. They have many extraordinary assets, such as blue growth, space sciences and renewable energies, and we will also help them to reap the benefits of globalisation.”

The EU is committed to the outermost regions, together with the Member States.

The Commission will seek to shape policies that better reflect these regions’ realities and interests, particularly when negotiating trade or fisheries agreements.

For that purpose, a platform for dialogue will bring together the regions and their Member States, the European institutions and private stakeholders, who will meet to exchange views during the legislative process. The Commission will also establish, on request, special working groups on specific issues, such as making the best use of European funds or promoting employment.

The strategy stresses clearly that ensuring these regions’ prosperity is a shared responsibility among the regions, Europe and the Member States, which must show the political will to support these regions on the path to growth.

The EU helps these regions to capitalise on their strengths in a globalised economy

The strategy supports their full integration into their surrounding regions by means of joint projects with neighbouring countries, which could receive European funds in the future for the prevention of natural risks, waste management, transport or energy, to give some examples.

In order to promote innovation and investment, the EU will help the regions to participate in the Horizon 2020 research programme, with special coordination and support action. A new initiative will be created under the Juncker Plan with the aim of facilitating regions’ access to the European fund for strategic investments (EFSI), in particular via a single access point within the European Investment Advisory Hub.

Making use of the smart specialisation model, which has proved its worth, the strategy seeks to help the regions to build on their assets, supporting greater innovation in traditional sectors such as fisheries and agri-food. To that end the Commission will provide for the POSEI programmes to continue beyond 2020 and will assess whether State aid can be used to support the renewal of small-scale fishing fleets.

The EU is working to create equal opportunities for everybody in these regions

In order to promote the acquisition of skills and mobility, Europe will give young people in these regions a financial boost to enable more of them to participate in the Erasmus programme and in the European Solidarity Corps.Furthermore, better transport links are crucial to these regions’ economic development and to their inhabitants’ quality of life. The Commission will launch a study to identify their connection needs and, where justified, undertakes to co-finance ports and airports.

The EU protects these regions from the effects of climate change

Extreme weather events, such as Hurricane Irma, have demonstrated that these regions need help in tackling the effects of climate change. The EU will incorporate the challenges facing them into its LIFE programme and its strategy on adaptation to climate change, which is currently being evaluated with a view to possible revision. In order to support the reconstruction efforts in Saint-Martin/Sint-Maarten, the Commission is currently considering the best way to combine different European funds.

Background:

Article 349 of the Treaty on the Functioning of the European Union acknowledges the special characteristics of the outermost regions and affords them a special status.

In 2004, the Commission presented a first strategy aimed at shaping the partnership between the European institutions and these regions. That strategy is now being renewed in order to tackle persistent challenges, such as high unemployment rates, particularly among young people, greater vulnerability to the effects of climate change and a dependence on economic sectors which have not incorporated innovative processes.

Most of the measures under this strategy respond specifically to requests made by the presidents of the outermost regions in a memorandum submitted to President Juncker at the 4th Forum of the Outermost Regions in Brussels in March 2017.

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Finance

4 Crucial Factors That Helps in Selecting the Ideal FX Expert Advisor

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The forex market is increasingly expanding at a rapid pace with millions of active traders executing trades daily. The use of advanced technology is also preferred among traders who are involved in active trading. As automation is slowly taking over most industries and businesses, the forex market is also noticing a rise in the use of FX expert advisors to execute a trade on behalf of an investor.

But even with the tons of perks that these FX EAs are capable of, you must consider certain factors before investing in one.

But before we jump into discussing the factors that indicate an EA’s reliability, let us get a clear understanding of what forex EAs are and how they work.

Explaining FX Expert Advisors

An EA is a software program that offers the benefit of automated trading to investors worldwide. A forex EA is responsible for identifying the best possible timings for opening a position with the help of certain in-built algorithms and indicators. As the market is active for 24-hours straight, using an EA will certainly be useful; it is immune to any emotional factors and can facilitate you to make high-profitable trades by identifying the ideal entry points.

Developed in MQL, an EA can operate on MetaTrader 4 or 5 and comes up with complex strategies of trading based on a certain mathematical pattern. The ways expert advisors tend to outperform manual trading practices involve their high-accuracy results along with faster data-processing technology which aids in better analysis.

Although being quite similar and often mistaken as the same, a forex EA slightly differs from a forex robot in terms of its functions. While forex robots can take care of executing a trade on behalf of you, and EA will simply advise you when to initiate a trade allowing you to have full control over initiating a trade.

Points to consider before investing in an EA

Investing in an expert advisor requires certain factors to keep in mind that will help you to maximize your success rate with the benefit of automation.

  1. Performing a thorough background check

The security factor should be on your priority list while opting for an expert advisor. Thorough research along with a complete background assessment is necessary to determine the authenticity of the EA. You can rely on reviews and testimonials of other users as well as checking the credentials of the vendor. Some factors that decide the genuineness of the EA include secure payment options, refund guarantees in case of false claims, transparent business practices, and development by trustworthy programmers.

  1. Conduct satisfactory research

It is common to come across many catchy claims of instant and guaranteed profit while opting for an EA. But these commercials fail to mention that expertise is the most critical asset you will need to succeed in this industry. You can immediately notice risk factors when anyone makes exaggerated and unreasonable statements if you have a good understanding of how the foreign exchange market works. While many appropriate automated trading systems are useful in leveraging your trading career, you may also come across many fraudulent scenarios in this industry. Thus only proper learning will provide you with the information you need to prevent being a target of these frauds.

  1. Get familiar with basic EA stats

Reliable expert advisors are generally introduced to the market after a long process of backtesting performed by the developers. While selecting an EA you will most likely come on certain statistics including the profit factor, drawdown and expected payoff that demonstrate its performanceAs an investor, you need to be knowledgeable about these stats, what they mean and how they can impact your trading style before finalizing an EA.

  1. Perform independent testing

The final step will always be to verify the capabilities of an expert advisor along with checking the backtested results. You can rely on a demo account or a trial version of that EA easily before making the final call.

Selecting the ideal forex EA can be challenging irrespective of the level of experience you have in this. However, following these tips as well as your experience can make this process easier and worthwhile.

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Environment

No pathway to reach the Paris Agreement’s 1.5˚C goal without the G20

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“The world urgently needs a clear and unambiguous commitment to the 1.5 degree goal of the Paris Agreement from all G20 nations”, António Guterres said on Sunday after the Group failed to agree on the wording of key climate change commitments during their recent Ministerial Meeting on Environment, Climate and Energy.

“There is no pathway to this goal without the leadership of the G20. This signal is desperately needed by the billions of people already on the frontlines of the climate crisis and by markets, investors and industry who require certainty that a net zero climate resilient future is inevitable”, the Secretary General urged in a statement.

The UN chief reminded that science indicates that to meet that ‘ambitious, yet achievable goal’, the world must achieve carbon neutrality before 2050 and cut dangerous greenhouse gas emissions by 45 % by 2030 from 2010 levels. “But we are way off track”, he warned.

The world needs the G20 to deliver

With less than 100 days left before the 2021 United Nations Climate Conference COP 26, a pivotal meeting that will be held in Glasgow at the end of October, António Guterres urged all G20 and other leaders to commit to net zero by mid-century, present more ambitious 2030 national climate plans and deliver on concrete policies and actions aligned with a net zero future.

These include no new coal after 2021, phasing out fossil fuel subsidies and agreeing to a minimum international carbon pricing floor as proposed by the International Monetary Fund (IMF).

“The G7 and other developed countries must also deliver on a credible solidarity package of support for developing countries including meeting the US$100 billion goal, increasing adaptation and resilience support to at least 50% of total climate finance and getting public and multilateral development banks to significantly align their climate portfolios to meet the needs of developing countries”, he highlighted.

The UN Chief informed that he intends to use the opportunity of the upcoming UN General Assembly high-level session to bring leaders together to reach a political understanding on these critical elements of the ‘package’ needed for Glasgow.

A setback for Glasgow

The G20 ministers, which met in Naples, Italy on July 23-25, couldn’t agree to a common language on two disputed issues related to phasing out coal and the 1.5-degree goal, which now will have to be discussed at the G20 summit in Rome in October, just one day before the COP 26 starts.

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Development

Economic Recovery Plans Essential to Delivering Inclusive and Green Growth

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EU member states must ensure careful and efficient implementation of economic recovery plans that support inclusion and growth to bounce back from the worst impacts of the COVID-19 pandemic, says a new World Bank report.  

The World Bank’s latest EU Regular Economic Report – entitledInclusive Growth at a Crossroads – finds that the unprecedented and exceptional policy response of governments and EU institutions has cushioned the worst impacts on employment and income. However, the pandemic has exposed and exacerbated deep-seated inequalities, halting progress in multiple areas including gender equality and income convergence across the EU member states. A further three to five million people in the EU today are estimated to be ‘at risk of poverty,’ based on national thresholds benchmarked before the crisis.

The report highlights that effective recovery programs can reinforce progress on the green and digital transitions underway across the region. With the crisis continuing to unfold, government support schemes and the rollout of vaccines in a timely manner will remain essential to bolstering the resilience of firms, workers, and households. Given the longevity of the crisis and the impact on the most vulnerable, many governments have opted to extend the duration of support throughout 2021.

“A green, digital and inclusive transition is possible if economic policy is increasingly geared towards reforms and investment in education, health and sustainable infrastructure,” said Gallina A. Vincelette, Director for the European Union Countries at the World Bank.

With an output contraction of 6.1 percent in 2020, the COVID-19 pandemic has triggered the sharpest peacetime recession in the EU. Governments will need to ensure targeted and active labor market policies are in place to support an inclusive recovery. The report highlights that special attention should be given to already vulnerable workers such as youth, the self-employed, and those in informal employment. These groups are more likely to face employment adjustments during the crisis and may face longer spells of unemployment or periods outside the labor force.

Women have been disproportionately impacted by work disruptions during the pandemic, particularly in the sectors facing the worst effects of the crisis. This was also highlighted in the 2020 Regular Economic Report produced by the World Bank, which found that at least one in five women will face difficulty returning to work compared to one in ten men. It has been harder for women to resume work due to the sectors and occupations that they are working in and because of the additional care burdens that have fallen disproportionately on their shoulders – a manifestation of increasing inequities in home environments.

“As recovery takes hold, it will be important for carefully targeted and coordinated policy support to continue to mitigate the impact of the crisis, with measures increasingly targeted towards vulnerable households and viable firms. Policy makers will also need to strike a balance between helping those that need it most, while enhancing the productivity of the economy and keeping debt at manageable levels,” added Vincelette.

World Bank’s Regional Action in Europe and Central Asia

To date, the World Bank has committed more than $1.7 billion to help emerging economies in Europe and Central Asia mitigate the impacts of COVID-19. Since April 2020, around $866 million has been approved through new emergency response (MPA/Vaccines) projects. In addition, up to $904 million is being reallocated, used, or made available from existing projects and lending, including additional financing, to help countries with their COVID-19 response.

The World Bank’s Global Economic Prospects suggests that growth will be strong but uneven in 2021. The global economy is set to expand 5.6 percent—its strongest post-recession pace in 80 years. The recovery largely reflects sharp rebounds in some major economies.

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