Euro area economic policy (2019) - Related Opinions

The EESC is concerned to note the euro area's economic downturn and the gradual end to a fall in unemployment, wedded to the persistent higher incidence of risk factors affecting economic performance. It is the European Green Deal that the EESC sees as the backbone of the future EU and euro-area economic configuration – the potential start of a fundamental change and a turning point. If managed successfully, it could move Europe up a gear economically and socially; if not, its failure could fatally jeopardise the integrity of the EU.

This additional opinion complements and updates the proposals made in the yearly EESC AGS opinion. The EESC welcomes country-specific recommendations focus on investment and underlines that special attention must be paid to productive investments and investment in social infrastructure to prioritise sustainable growth. Next year's cycle should contain more CSRs to combat the existential threat of climate change. Investment would also be needed to enable the implementation of the social pillar to prevent an increase of social, economic, and environmental inequality. Taxation should favour this type of investment.

The EESC agrees with the aims of the Council Recommendation and with some of its proposals. However, it expresses its disagreement with the proposal for the aggregate fiscal stance of the euro area to be neutral, as well as with the way that the recommendation on salaries is formulated.