European Union – EU

Political and Economic Updates:

ECB – reference rate – currencies quoted against the Euro: 15.01.2021

USD/US dollar – 1,2123, JPY/Japanese yen – 125,74 GPD/Pound Sterling – 0,88998, CHF/Swiss Franc – 1,0770, CNY/Chinese yuan renminbi – 7,8499.

15.01.2021 – Gold US$ OZ – $1.825,88, – 14.01.2021 WTI Crude Oil – $53,57/Brent Crude Oil – $56,42 (Barrel)

The European Union expects the Pfizer/BioNTech covid-19 vaccine to be approved for use by the EMA by December 23, 2020, and the vaccine roll-out in Germany could start already December 27, 2020. Germany closed down from December 16, 2020 to January 10, 2021, imposing a strong lock-down, as covid-19 infections are still rising; France, Italy and Spain are taking similar drastic measures. The EU Commission granted a conditional market approval for the BioNTech/Pfizer vaccine, expecting vaccine roll out to start on December 27, 2020. The BioNTech/Pfizer vaccine is the first to receive an emergency use authorization by the World Health Organization/WHO. U.K. approved the use of the Oxford-AstraZeneca Covid-19 vaccine. The U.S. developed Covid-19 vaccine of Moderna is the second vaccine authorized for use in the 27-nation bloc, after getting conditional approval from the E.U.’s medical watchdog.

Brexit: British companies are preparing for a no-deal Brexit. Britain and EU strike pessimistic tone in post-Brexit trade talks. Britain and the E.U. reach finally a last minute landmark deal on Brexit, after months of negotiations, and still leaves critical details to be worked out; the hard-fought trade agreement must be ratified by the British and European parliaments. New era for Europe as U.K. and E.U. complete Brexit separation; the United Kingdom has finally completed its economic separation from the European Union embarking on an era of greater freedom but heightened isolation from its continental neighbors; Thursday 31.12.2020 marked the end of a transition period in which the U.K. followed all the E.U.’s rule and regulations.

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