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The financial and economic crisis - a chronological overview - April 2009

The current crisis calls for concerted action at both the European and the international level. The EU has taken a series of bold measures to restore confidence, stability and sustainability  in the financial markets.

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28 April 2009
Commission proposes tax transparency and fair tax competition within and outside the EU

The Commission Communication " Promoting good governance in tax matters" COM/2009/201 addresses the heightened need for national governments to safeguard their tax revenues. The need to promote international tax cooperation and common standards has become a regular item on the agenda of discussions, both within the EU and in international fora.
The proposed measures aim to improve tax transparency, exchange of information and fair tax competition within the EU and on an international level. They identify how good governance could be improved within the EU and lists the tools the EU and its Member States have at their disposal to ensure that good governance principles are applied at international level.
>> Taxation and Customs Union.  Tax co-operation, control and anti-fraud

25/26 April  2009
Spring Meeting of the World Bank Group and International Monetary Fund

The meeting restated the resolve to work collaboratively to restore international financial stability and global growth. Underlining the central role of the IMF, officials welcomed the vigorous actions taken to support countries in responding to the crisis.
>> IMF Communiqué on crisis management, fund resources, a global financial safety net, surveillance and reforms

23 April 2009
EU-Japan High Level meeting on financial issues

Reviewing commitments of the G20 action plan, Commission and Japan Financial Services Agency (JFSA) officials agreed to deepen their cooperation for more open and competitive financial services markets as a coordinated response to the crisis. They discussed accounting, auditing and insurance issues as well as EU actions taken to reinforce regulation and supervision of financial services.
>> Memo 09/190. EU-Japan High Level meeting on financial issues Choose translations of the previous link 

17 April 2009
IMF rules out early economic rebound.
More still needs to be done to revive the global economy and pull it out of recession, IMF Managing Director Dominique Strauss-Kahn said on Thursday.
The IMF also released in advance analytical chapters related to the crisis of its World Economic Outlook .

16 April 2009
Debate forum. Should helping developing countries be a priority in these times of economic crisis?

The Commission opened an online debate forum on how to minimise the impact of the economic crisis on developing countries. 

 8 April 2009
Development. EC Communication on supporting developing countries coping with the crisis

 >> European Commission President Barroso, joint press conference with Commissioner Louis Michel
Supporting developing countries in coping with the crisis Choose translations of the previous link 
>> Communication (COM(2009) 160 final. Supporting developing countries in coping with the crisis

Budget. EC Communication on "Better implementation to help economic recovery".

>> Budget. Streamlining financial rules
>> Commission sets harder targets for faster payments of EU grants and contracts Choose translations of the previous link 

6 April 2009
Commissioner Almunia calls for a stronger EU foreign economic policy

Speaking at a conference organised by the Commission on 6 April, Commissioner Almunia made the case for a clear and cohesive EU foreign economic policy which would enable Europe to play a key role in the world emerging from the global crisis
>> Europe not only has the right, but the responsibility to take a more active role in international affairs

3/4 April 2009
Informal ECOFIN Council in Prague

>> Ministers and Governors agree on principles for financial supervision reform

2 April 2009
London. G20 Summit on financial markets and the world economy.
>> G 20. Communiqué on the global plan for recovery and reform
>> Remarks by President Barroso, press conference of 31 March "The G20 - a unique opportunity" Choose translations of the previous link 
>> Remarks by President Barrosos, press conference of 2 April "London G20 results: "much more ambitious than expected" Choose translations of the previous link .


 

 

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