The EESC feels that the triple objective of the Europe 2020 strategy, i.e., smart, sustainable and inclusive-cohesive growth, is generally appropriate; however, in order to achieve it, a well-balanced macroeconomic policy mix and structural reforms together with more and better instruments are needed. The EU needs to show that it has the necessary political will and a specific vision of substantially closer integration. All the funds and programmes should be more tailored to the social goals of Europe 2020, and work on drawing up a European Territorial Strategy must be accelerated. It is vital to ensure much broader involvement of experts and public opinion in preparing decisions.
Hospodářská a měnová unie - Related Opinions
The Committee reiterates that the ambitious challenges facing the EU make it not only desirable but also necessary to increase the size of the EU budget so as to revitalise economic growth and employment. Furthermore, it welcomes the moves to improve and simplify the structure of the EU budget, so as to substantially deflate the issues of fair return and horizontal fairness between the Member States, focusing instead on effectively achieving Europe's strategic objectives. The EU budget should be exemplary, efficient, effective and transparent, so that it gains credibility in the eyes of the European public.
The Committee supports the Commission proposal to improve the regulation of rating agencies in order to further eradicate major shortcomings in transparency, independence, conflict of interest, and the quality of procedures used in making ratings. The dependence on these ratings should also be reduced, according to the Committee. Insider trading and market abuse damage confidence in the integrity of the markets, which is an essential prerequisite for a functional capital market. The EESC welcomes the fact that the Commission, with a new proposal, is responding to changing market conditions and is seeking to update the framework created by the market abuse directive.
The EESC calls for financial education to become a compulsory subject on the school curriculum, and this education should be followed up in training and retraining programmes for workers. As a subject, financial education should encourage responsible saving and promote socially responsible financial products.