The EESC welcomes the proposals to set up a Single Resolution Mechanism which, forms an important new building block in developing the banking union. The Committee equally welcomes the proposed Single Bank Resolution Fund and considers it important to ensure that the resolution fund has the financial resources it needs to fulfil its role properly.
The Committee EESC firmly believes that broadband access for everyone is key to the development of the European economy and from now on will be an essential element in the creation of new jobs. Yet, on 8 February 2013, under the new multiannual financial framework (MFF), the Council slashed the digital Connecting Europe Facility (CEF) budget to EUR 1 billion. The amended proposal takes into account the latest positions in the Council and in the relevant European Parliament committee. The EESC therefore laments the fact that the Commission's revised proposal envisages deep cuts in the relevant budget and expresses its regret that the Commission has been forced to make far-reaching changes to projects of common interest for the development of broadband networks and digital service infrastructures.
The Committee welcomes the increased attention brought to social investment, a greater targeting of European funds to sound employment and social policies, a dedicated youth employment initiative and youth guarantee scheme, and better cross-border mobility. It also welcomes the foreseen strengthened social dialogue as part of the European Semester process. It particularly supports the idea to step up closer surveillance of employment and social imbalances within the EMU through a systematic monitoring of rates of unemployment, of young people not in employment or training or education, of household income, poverty and inequality. The proposed scoreboard should pro-actively detect asymmetric developments and spill-over into overall economic performance and trigger a timely and effective adjustment mechanism and policy response.