The EESC considers it vital to preserve the "biodiversity" of the financial system, without this meaning the arbitrary application of rules. In this context the Committee applauds the consideration the European Commission has given to the introduction of calibrated financial regulation frameworks to consider the specificities of cooperative and savings banks that avoid the undesirable effects of uniform application of prudential rules and possibly an overload of administrative burdens.
The EESC welcomes the establishment of economic priority programmes for the euro area at the start of the European Semester. To achieve a recovery of growth and employment a mix of financial, taxation, budgetary, economic and social policies is needed. In contrast to the recommendation of the Commission, the focus of fiscal policy should be designed to be more expansionist than neutral. The EESC advocates the reduction of taxation on labour insofar as it does not threaten the financial sustainability of social protection systems. The EESC calls for a coordinated effort to create a more business-friendly environment for SMEs through better regulation, adequate financing and facilitation of exports to markets outside the EU. There is a particular need to open up new funding opportunities for micro-enterprises and start-ups.
The EESC welcomes the Commission proposal for a Council Directive to improve double taxation dispute resolution mechanisms in the EU. Double taxation is one of the biggest tax obstacles to the Single Market. There is an urgent need for mechanisms ensuring that cases of double taxation are resolved more quickly and more decisively when they arise between Member States. Therefore it is urgent to implement this proposal.
The EESC welcomes the new set of measures proposed by the European Commission to complete the Economic and Monetary Union (EMU) and move towards an optimal monetary zone. The EESC supports the various proposed goals for reinforcing the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). The EESC welcomes that the present communication provides scope for a broader discussion and for a phased approach to implementing the European Deposit Insurance Scheme (EDIS) and underlines the importance not to lose momentum in implementing the Banking Union. Finally, the EESC reiterates its commitment to a diverse financial ecosystem in which the large pan-European players coexist with small and medium-sized banks and other non-banking entities that focus reliably on the financing of the real economy on an equal footing, in an environment of much reduced systemic risk.
EESC conference with the upcoming Slovak Presidency, 14th June in Bratislava
The European Economic and Social Committee (EESC) organised a conference in cooperation with the future Slovak Presidency of the EU Council and the active participation of the Slovak EESC Members, in Bratislava on 14th June 2016. The speakers included:
Stakeholders stressed the importance of cohesion policy and the need for appropriate and effective funding
The ECO section discusses the Commission's package on Deepening EMU with Valdis Dombrovskis, Roberto Gualtieri and other institutional and civil society representatives
A European Economic and Social Committee (EESC) hearing has drawn up preventive measures and alternative approaches for future crises
The member states of the European Union must strengthen stakeholder involvement in their efforts to reform national economies. Together with a new long-term EU strategy for sustainable development, improved stakeholder involvement could help create a more efficient and inclusive European semester that enjoys the support of society and is prepared to tackle the challenges facing the EU.
The EESC President, Georges Dassis, participated in the 2016 edition of the 'Spotlight on Jobs' conference, dedicated to labour issues. The event addressed various thematic issues, such as the reform of the labour market, the new role of trade unions, immigration, and innovation. He emphasised the ...