Guidance to ensure full data protection standards of apps fighting the pandemic

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Today, the European Commission has published guidance on the development of new apps that support the fight against coronavirus in relation to data protection. The development of such apps and their take up by citizens can have a significant impact on the treatment of the virus and can play an important role in the strategy to lift containment measures, complementing other measures like increased testing capacities. It is important, however, to ensure that EU citizens can fully trust such innovative digital solutions and can embrace them without fear. The largest possible participation of EU citizens is necessary to exploit the full potential of tracing apps.

EU rules, notably the General Data Protection Regulation (GDPR) and the ePrivacy Directive, provide the strongest safeguards of trustworthiness (i.e. voluntary approach, data minimisation, time limitation) for such apps to operate widely and accurately. This guidance aims to offer the necessary framework to guarantee that citizens have sufficient protection of their personal data and limitation of intrusiveness while using such apps. The European Data Protection Board was consulted on the draft guidance. By committing to those standards, the full effectiveness and compliance of such tools can be ensured, even in times of crisis.

Vice-President for Values and Transparency, Věra Jourová, said:”This is the first global crisis where we can deploy the full power of technology to offer efficient solutions and support the exit strategies from the pandemic. Trust of Europeans will be key to success of the tracing mobile apps. Respecting the EU data protection rules will help ensure that our privacy and fundamental rights will be upheld and that the European approach will be transparent and proportional.” Continue reading “Guidance to ensure full data protection standards of apps fighting the pandemic”

European roadmap shows path towards common lifting of containment measures

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Today, the Commission, in cooperation with the President of the European Council, has put forward a European roadmap to phase-out the containment measures due to the coronavirus outbreak.

While we are still in firefighting mode, the necessary extraordinary measures taken by Member States and the EU are working. They have slowed down the spread of the virus and saved thousands of lives. However, these measures and the corresponding uncertainty come at a dramatic cost to people, society and the economy, and cannot last indefinitely.

President of the European Commission Ursula von der Leyen said: “Saving lives and protecting Europeans from the coronavirus is our number one priority. At the same time, it is time to look ahead and to focus on protecting livelihoods. Even though conditions in the Member States still vary widely, all Europeans rightly ask themselves when and in what order the confinement measures can be lifted. Responsible planning on the ground, wisely balancing the interests of protection of public health with those of the functioning of our societies, needs a solid foundation. That’s why the Commission has drawn up a catalogue of guidelines, criteria and measures that provide a basis for thoughtful action. The strength of Europe lies in its social and economic balance. Together we learn from each other and help our European Union out of this crisis.” Continue reading “European roadmap shows path towards common lifting of containment measures”

Commission and European Investment Fund unlock €8 billion in finance for 100,000 small and medium-sized businesses

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The European Commission has unlocked €1 billion from the European Fund for Strategic Investments (EFSI) that will serve as a guarantee to the European Investment Fund (EIF), part of the European Investment Bank Group. This will allow the EIF to issue special guarantees to incentivise banks and other lenders to provide liquidity to at least 100,000 European SMEs and small mid-cap companies hit by the economic impact of the coronavirus pandemic, for an estimated available financing of €8 billion. Today’s announcement fulfils the commitment in the Commission Communication of 13 March to bring immediate relief to hard-hit SMEs, with money able to flow already in April. It is part of the package of measures announced by the EIB Group on 16 March designed to rapidly mobilise support for Europe’s SMEs and mid-caps.

One of the immediate economic consequences of the coronavirus pandemic is the sudden lack of liquidity affecting small and medium-sized businesses. These companies are typically the most affected in a crisis, and it is essential to support them with adequate liquidity so they can survive the crisis. However, in a situation of liquidity crunch banks are not incentivised to lend SMEs money due to the sudden increase in perceived risk. That is why EU guarantees supporting these loans are necessary. As of today, the EIF is offering to the market dedicated EFSI-backed guarantees to contain the impact of the pandemic on small and medium sized enterprises and small mid-cap companies. Continue reading “Commission and European Investment Fund unlock €8 billion in finance for 100,000 small and medium-sized businesses”