At its June plenary session, the European Economic and Social Committee (EESC) adopted a pivotal opinion addressing the growing threat of social exclusion and marginalisation driven by the erosion of purchasing power. This opinion, part of the EESC’s broader cost-of-living crisis package, focuses on the social dimensions of the crisis and outlines a comprehensive strategy to safeguard vulnerable populations and reinforce Europe’s social fabric.
emphasises the necessity for the EU to reduce import dependencies, especially for critical goods like pharmaceuticals and semiconductors, and to diversify supply chains by fostering multiple international partnerships;
highlights the urgent need for targeted investments in strategic industries and infrastructure to strengthen economic resilience and bridge productivity gaps among European producers. Such investments should be part of a well-coordinated, comprehensive and adequately financed industrial policy;
recommends expanding trade agreements, particularly with reliable partners in the Global South, and advocates for regulatory efficiency improvements to streamline complex EU frameworks while maintaining high standards;
calls for enhanced financial and technical support mechanisms for Micro, Small, and Medium Enterprises (MSMEs) to diversify their suppliers, adopt sustainable business models, and effectively navigate regulatory complexities.
The European Economic and Social Committee (EESC) has delivered a stark but necessary message: fossil fuel subsidies (FFSs) must go. But this isn’t just another green talking point. This call comes amid a broader strategy aimed at tackling Europe’s ongoing cost-of-living crisis, which the EESC has addressed through a suite of detailed sectoral and umbrella opinions. And while the climate clock ticks louder, the numbers speak louder still – €111 billion in FFSs across the EU in 2023 alone.
The April plenary of the European Economic and Social Committee (EESC) saw the adoption of an opinion on the high cost of living as part of the package of EESC opinions on the cost-of-living crisis. The package is made up of seven sector-specific opinions to be adopted at the April and June plenaries plus an umbrella opinion which will be adopted in July.
At its April plenary session, the European Economic and Social Committee (EESC) adopted a key opinion, outlining a broad strategy to address the ongoing cost-of-living crisis and strengthen the EU’s long-term economic and social resilience. Focused on the economic aspects, this opinion is among the first to be adopted in a wider set of coordinated recommendations to address the cost-of-living crisis, to be unveiled over the coming months.
The European Economic and Social Committee (EESC) has launched work on a major package of recommendations to tackle the cost-of-living crisis, starting with four new opinions adopted at its April plenary session. This marks the first block in a series of eight opinions, each developed by a different EESC section and focused on a specific aspect of the crisis — from economic fallout to social cohesion, employment, sustainability, and more.
The rising cost of living has impacted competitiveness and social costs. Services of general interest (SGIs) can ensure access to essential services for a decent life and can mitigate the impact of inflation and crises due to their non-profit-driven spirit.
The EESC advocates greater scope for long-term investment in social infrastructure and emphasizes the importance of public investment in accessible and affordable housing.
Reducing fossil fuel subsidies can provide short-term support for vulnerable households and more durable solutions for decarbonised electricity and heating systems, renovations and access to affordable SGIs.
