Decades

• In addition, the content of the BCRs in question may need to be amended before the transition period ends, as these BCRs generally contain references to the UK legal order.
• This also applies to BCRs already approved under Directive 94/46/EC.BCR holders who have the UK SA as their BCR Lead SA need to put in place all organisational arrangements to identify a new BCR Lead SA in the EEA.
• The change of BCR Lead SA will have to take place before the end of the Brexit transition period.
• The latter will then take over the application and formally initiate an approval procedure subject to an opinion of the EDPB.

Read our timeline of EU measures to tackle Covid-19 for an overview of everything the EU is doing to help Europe cope with the crisis.

1. Providing massive economic stimulus

• To help Europe recover from the devastating economic repercussions wrought by the coronavirus pandemic, the European Commission has proposed a 750 billion stimulus plan, coupled with a revised proposal for the EU's next long-term budget (2021-2027).
• The Parliament insists that the Green Deal is at the heart of the recovery package and wants to avoid burdening future generations.

2. Supporting EU health systems and infrastructures

• With several experts mentioning the possibility of a second wave or future pandemics, buttressing the EUs response capacity to health crises is key.
• To help Europe cope with future outbreaks, the EU launched the new EU4Health programme, which will bolster member states healthcare systems as well as fostering innovation and investment in the sector.
• The Parliament had insisted on the creation of a new stand-alone European health programme.

3. Protecting small and medium-sized businesses

Small and medium-sized enterprises represent 99% of all businesses in the EU, making their survival crucial to the EU’s economic recovery. The EU unlocked €1 billion from its European Fund for Strategic Investments to incentivise banks and lenders to provide liquidity to more than 100,000 European small businesses.

4. Mitigating unemployment risks

Jobs have been hard hit by the pandemic, with unemployment figures rising dramatically. To help workers in the wake of the Covid-19 crisis, the EU’s Support mitigating Unemployment Risks in Emergency (Sure) initiative will provide financial assistance of up to €100 billion to member states in the form of loans granted on favourable terms to help cover the costs of national short-time work schemes.

5. Supporting the tourism industry

• Another sector badly affected by the pandemic is tourism.
• Europe is the worlds number one tourist destination and the EU introduced a series of measures designed to help the industry cope during the crisis, as well as a package to reboot Europe's tourism in 2020 and beyond.
• Relief measures for the transport sector were also introduced, to minimise the effects of the pandemic on airlines, railways, road and shipping companies.

6. Banking package to support households and businesses

To ensure banks continue providing loans to businesses and households to mitigate the economic fallout from the crisis, the Parliament approved a temporary relaxation of prudential rules for European banks. Changes to to the capital requirements regulation will enable pensioners or employees with a permanent contract to get loans under more favourable conditions, ensure credit flows to small and medium-sized enterprises and support infrastructure investment.

7. Supporting agriculture and fisheries

• Measures include supporting fishermen and aquafarmers who have had to stop their activity during the crisis and an increasing the support EU countries can give to small firms dealing with farm food.
• Exceptional market measures were also introduced to support EU wine, fruit and vegetable producers.

8. Helping countries fund their crisis response

To help member states fund their coronavirus crisis response, the EU launched a new initiative, the Coronavirus Response Investment Initiative. It will channel some €37 billion from EU structural funds to provide immediate financial support to EU countries trying to help people and regions face the current crisis.

9. Relaxing state aid rules

As the pandemic was beginning to spread throughout Europe, the EU launched a Temporary Framework on State Aid rules to ensure sufficient liquidity remains available to businesses of all types and help maintain economic activity during and after the Covid-19 outbreak. Member states will be able to grant up to €800,000 to a company to address urgent liquidity needs or grant loans with favourable interest rates.

10. Protecting weakened European businesses from foreign competitors

• DUBLIN, July 21, 2020 /PRNewswire/ -- The "Electrical Discharge Machines (EDM) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
• This segment currently accounts for a 24.7% share of the global Electrical Discharge Machines (EDM) market.
• The country currently accounts for a 27.04% share in the global market.
• China, the world second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2027 trailing a CAGR of 10.5% through 2027.

• Analysts predict that it is likely that this demand will continue as more consumers turn to gaming as a means of entertainment and to stay connected with friends.
• Nintendo has experienced difficulty meeting demand for the popular Switch console as well as its home fitness game Ring Fit Adventure as a result of coronavirus related manufacturing delays.
• In anticipation of increased demand for its Playstation 5 consoles, Sony is ordering at least 50% more units than it had originally planned to ship this year.
• The company had initially expected to produce approximately six million consoles in 2020, however that figure is expected to increase to approximately 9 million.