This additional opinion updates and complements the proposals made in the original ASGS opinion, adopted in February this year. The EESC welcomes the step forward towards embracing a more social, inclusive and sustainable economic model, particularly given the economic and social effects of COVID-19. To support the economic recovery and public investment, and in support of a digital and green transformation, the EESC believes that a revision of the Stability and Growth Pact, flexibility in state aid rules and a rethink of tax policy is necessary. Well-resourced public health measures and social security systems are likewise of vital importance. The EESC also welcomes the Commission's proposals for Next Generation EU and sees the ASGS as an opportunity for the EU to shift towards an economic model that gives equal weighing to both economic and social objectives.
Annual Growth Survey 2019 (communication) - Related Opinions
The EESC is currently drafting an opinion that aims to define what "the sustainable economy we need" should look like by exploring new economic models, investment decisions vis-à-vis technological advances as well as novel indicators for growth and competitiveness.
This own-initiative opinion will focus on the interface and inter-linkages between the European semester and Cohesion policy under the new Multiannual Financial Framework with a view to developing policy proposals to improve sustainable growth performance. With the Europe 2020 Strategy coming to an end, these proposals can contribute to the preparation of a new European strategy post-2020.
The EESC appreciates the proposed roadmap for completing the European Economic and Monetary Union (EMU) but its support is not full and enthusiastic, since a number of social, political and economic issues, highlighted in our previous opinions, were not taken into consideration. The completion of the EMU requires first of all strong political commitment, efficient governance and better use of the available finances, in order to actually cope with both risk reduction and risk sharing among Member States. For these reasons the EESC underlines that the principles of responsibility and solidarity at EU level should go hand in hand.
This opinion is on the Annual Growth Survey 2018 (AGS), which establishes the main economic priorities and provides policy guidance for the following year. The European Commission published the 2018 AGS on 22 November 2017 as part of the European Semester Autumn Package. The 2018 AGS is focused on fostering job creation and growth and establishes three main priorities: boosting investment to support the recovery and to increase long-term growth; structural reforms for inclusive growth, upward convergence and competitiveness; responsible fiscal policies to support sustainability and convergence.
Delivering on balanced economic growth and social progress should be the guiding principle for the debate on the social dimension of Europe. A clear road map for the implementation of European Pillar of Social Rights is advisable with clear assignment of tasks coupled with accountability. The social dimension debate is connected to the debate on deepening the EMU. Social policy has to be embedded in a different EU economic policy. A strong EU can shape globalisation and digitalisation to the benefit of all.
This own-initiative opinion is a joint proposal of the two EESC bodies with a cross cutting and horizontal approach: the SDO and the Europe 2020 Steering Committee (SC).
The European Economic and Social Committee (EESC) endorses the priorities set out in the European Commission's 2017 Annual Growth Survey.
The European Semester is seen as a good instrument for further progress in policies and reform, leading to recovery and employment. The AGS 2017 outlines the most pressing economic and social priorities, accompanied by specific recommendations, however the EESC takes very seriously the negative aspects of the rules of the Stability and Growth Pact and Country-Specific Recommendations applied at national level to set the euro area fiscal stance.