The ECOFIN Council approved the Action Plan for an integrated Union policy on the prevention of money laundering and terrorist financing which provides for the establishment of a European supervisory authority which will have direct intervention powers, but it can also take the place of national authorities in clearly defined and exceptional situations
Il National , National Foundation of Accountants have published the periodic information "International activity”, An analysis of the economic measures adopted at European and international level to combat the pandemic.
While the outcome of the American elections leads Europe to believe that a renewal is possible partnerships between the EU and the United States, while taking into account their current respective positions on key issues such as climate, the COVID-19 emergency and international trade, the virus continues its run putting health systems and economies to the test. The European Union renews its commitment to support each other.
Among the novelties of recent weeks, the agreement reached in the Council between the European Parliament and the Member States on the next long-term EU budget and on NextGenerationEU, the recovery program which includes the Recovery Fund. The package, totaling € 1.800 trillion, will help rebuild a greener, digital, resilient Europe ready for present and future challenges.
The autumn economic forecasts, published in recent days by the Commission, are affected by the climate of uncertainty fueled by the increase in infections. The sharp recovery recorded in the summer period with the lifting of the containment measures has abruptly stopped and is estimated to resume in 2021, but it will take two more years before the European economy returns to approach pre-pandemic levels. Indeed, according to the autumn 2020 economic forecasts, the euro area economy will contract by 7,8% in 2020, before growing by 4,2% in 2021 and 3% in 2022. It is also expected that the he economy of the euro area will contract by 7,4% in 2020, before recovering with growth of 4,1% in 2021 and 3% in 2022. Compared to the economic forecasts of summer 2020, the growth projections for the euro area and the EU are slightly higher for 2020 and lower for 2021. In any case, both euro area and EU output are not expected to return to pre-pandemic levels in 2022. While the recovery in the summer was more robust than expected with the result of a slight easing of the 2020 recession, the new restrictive measures approved by governments across Europe will lead to a worsening of the data for next year. Therefore, the possibility that the EU economy, including the Italian one, will return to pre-pandemic levels before 2022 is increasingly disappearing. The forecasts for Italy announce a recession of 9,9% in 2020 compared to the -11,2% estimated in July. However, next year the restart will be 4,1% instead of 6,1%. Data that according to Brussels in 2021 will raise unemployment to 11,6% and will not allow the country to return to pre-covid levels by the end of 2022.
Il ECOFIN Council approved the Action Plan for an integrated Union policy on the prevention of money laundering and terrorist financing which provides for the establishment of a European supervisory authority which will have direct intervention powers, but may also replace to national authorities in clearly defined and exceptional situations.
Finally, the International Monetary Fund published the results of the annual Financial survey Access Surveys (FAS) on the accessibility and use of financial services, despite the progress made, the indicators show that many challenges still remain open, including that for SMEs, in favor of which lending activity is still too limited.
The information is closed by a section dedicated to conference and training appointments. Among these, the 13th European Conference of the CFE dedicated to the profession of tax consultants, entitled "Taxpayer Rights and Legal Certainty in the Digital Era " (Taxpayers' rights and legal certainty in the digital age); the summit virtual title,The Anticipatory Accountant: GlobalTrends Transforming Learning & Development. divided into four days from 16 to 19 November 2020 and, on 19 November, the webinar organized by ACCA, Accountancy Europe, EACB and SME United, How can non-financial information (NFI) reporting work for SMEs? .