Euro area economic policy 2021

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EESC opinion: Euro area economic policy 2021

Key points:

The EESC

  • welcomes the Commission's recommendations on the economic policy of the euro area;
  • advocates an economic policy approach to support recovery, increase investment, further integrate the single market, ensure fair working conditions, and deepen the EMU;
  • strongly supports the Next Generation EU package and urges that the necessary agreements be reached as soon as possible;
  • believes that the recovery will only be successful if it is accompanied by a restructuring of our economy and society, and that rebuilding confidence is key to stabilise demand;
  • calls for fiscal rules to be shifted towards a more prosperity-oriented economic governance, including a golden rule;
  • believes that the impact of the crisis on inequality and socio-economic insecurity should be more carefully considered, and that both the business and the social environment should be improved;
  • calls for a better involvement of social partners and civil society in climate policy and the national recovery and resilience plans;
  • calls for a decisive reform of tax policies in order to tackle economic, social and environmental challenges, while taking care not to create regressive effects;
  • points at the need to complete the Banking and Capital Market Unions, while prioritising financial market stability.