The EESC welcomes the simpler and more transparent economic governance framework, the reduction of the pro-cyclical bias, the improvement in national ownership and strengthened enforcement, the differentiation and more tailored fiscal adjustment path of each Member State, based on a common-risk framework. However, the Committee proposes replacing the requirement obliging any Member State with a budget deficit of over 3% to cut that deficit by an average of 0.5% of GDP annually, and emphasises that the "technical trajectory" should be first in the hands of national governments and, at a second stage, be the result of a technical dialogue with the European Commission In due course. In due time, but by 2026 at the latest, an EU fiscal capacity should be established to meet at least some of the investment needs for common priorities and to allow Member States the fiscal space to meet the fiscal costs of the multiple transitions.
Download — EESC opinion: New economic governance rules fit for the future
Download — EESC opinion: Joint communication on the update of the EU Maritime Security Strategy and its Action Plan: An enhanced EU Maritime Security Strategy for evolving maritime threats
The EESC supports the digital euro project, while underlining the importance of a clear European legal framework able to establish the exceptional possibility of temporary exemptions for certain payees, and to harmonise practices and standards that vary from one Member State to another. It is essential to ensure that the digital euro does not negatively impact financial stability or the lending potential of credit institutions. The EESC encourages a broad public debate on the reasons for possible issuance of a digital euro, its merits and drawbacks, in order to make informed decisions and ensure public understanding of the project.
Download — EESC opinion: A digital euro and the scope and effects of the legal tender status of banknotes and coins
In this opinion, the European Economic and Social Committee (EESC) welcomes the proposal for a Council Decision on guidelines for the employment policies of the Member States. At the same time, the EESC warns of persisting political instability, high levels of inflation and high interest rates, which reduce citizens' purchasing power and businesses' competitiveness and affect investment decisions. These difficulties could jeopardise the implementation of employment policy guidelines in the Member States, the achievement of the European Pillar of Social Rights and 2030 targets. The Committee believes that it is all the more necessary to strengthen both the role of the social partners and their involvement in designing and implementing employment, social and economic reforms and policies, including by building their capacity.
