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On December 30, 2020, leaders from China and the EU announced they had agreed in principle on the text of a long-awaited Comprehensive Agreement on Investment (CAI), after seven long years of negotiation. Meeting the end-of-2020 goal was no mean feat; as late as September 2020, after a China-EU virtual meeting, European Commission President Ursula von der Leyen cautioned that “a lot – a lot – still remains to be done” on the CAI, adding, “China has to convince us that it’s worth having an investment agreement.”
But it’s too early for negotiators to celebrate even now. The text of the CAI still needs to be finalized and undergo a legal review. Then it will have to be approved by the European Council, the heads of government of the EU’s member states. Finally, the investment deal will face what may be its steepest hurdle: approval by the European Parliament. In addition to geopolitic
A year marked by COVID-specific regulations still included victories for credit unions
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WASHINGTON World Council of Credit Unions continued in 2020 to successfully advocate before international standard setting bodies on behalf of the global financial cooperative movement. Here are World Council’s Top 10 International Advocacy Success Stories of the year.
1. Basel AML/CFT Guidance includes World Council Recommendations on Proportionality/Financial Inclusion
The Basel Committee on Banking Supervision issued an updated version of its guidelines on
, with guides on the interaction and cooperation between prudential, and anti-money laundering and combatting the financing of terrorism (AML/CFT) supervisors. The issuance specifically included World Council-recommended language stating that AML/CFT burdens should be proportional and risk-based, informed by banks’ own risk assessment of ML/FT risks. Further, with respect to member/customer due diligence, the gu
EUROPEAN UNION – CHINA Europe and China reach an agreement in principle on investments asianews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asianews.it Daily Mail and Mail on Sunday newspapers.
Instead of eating turkey or opening presents, European Union ambassadors will spend part of Christmas Day reviewing the details of the bloc's post-Brexit
| UPDATED: 18:34, Thu, Dec 24, 2020
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Officials have finally ironed out the final details of a post-Brexit trade deal between the UK and the European Union. EU officials recently stated trade talks had slowed on the issue of fishing, but after 24 hours of tense negotiations, a Brexit deal has finally been agreed between Britain and Brussels. Speaking this afternoon, Prime Minister Boris Johnson said the deal was good for the whole of Europe , while European Commission President Ursula von d Leyen added it was a fair and balanced agreement.