Financial Crisis

This page is also available in

Displaying 61 - 70 of 148

Pages

Adopted on 23/02/2012
Reference: 
ECO/307-EESC-2012-474
Plenary session: 
478 -
Feb 22, 2012 Feb 23, 2012

..."Meanwhile, the financial and economic crisis has changed into a sovereign debt crisis because of the daily speculation against the euro, which has shifted its focus and targeted the debt of a number of European countries. The only reason for this is that the economic and political instruments to protect the euro are piecemeal, totally inadequate and, until a year ago, downright non-existent. These are the paradoxes that come from having a single monetary policy and 17 debt policies, 17 budget policies, 17 (or rather 27) economic and industrial policies, and so many voices, often contradictory, having their say and offering recipes for resolving the crisis. This is why there must be a commitment to redouble and continue the efforts made recently by the EU. It is useful, therefore, to draw up a few proposals, ..."

EESC opinion: Restarting growth

Adopted on 25/03/2014
Reference: 
NAT/620-EESC-2013-6638
Plenary session: 
497 -
Mar 25, 2014 Mar 26, 2014

The effect of the current financial and economic crisis has put energy pricing under the spotlight because of the impact on household energy costs in the context of austerity and on industrial competitiveness of high energy prices. The importance of Market Based Instruments (MBI) is that they must both advance the transition to a resource-efficient and low carbon economy and support economic recovery. Environmental and climate policies should not be seen as a burden in the recovery from the fiscal and economic and social crisis, but rather as a part of the solution. The Committee urges the Commission to make environmental fiscal reform an integral and permanent part of the European Semester.

 

 

Market-based instruments - Low carbon economy in the EU

Adopted on 01/07/2015
Reference: 
ECO/379-EESC-2015-01333-00-00-ac-tra
Plenary session: 
509 -
Jul 01, 2015 Jul 02, 2015

The EESC wants the conditions be created for an efficient, modern financial services sector with appropriate regulations, which grants access to capital providers by companies seeking investment, especially SMEs and high growth companies, and finds it of utmost importance to overcome the current fragmentation of the markets.

Since a Capital Markets Union (CMU) is to a significant extent a reality for large companies, the EESC stresses the need for measures that will also allow SMEs to benefit from it, for example through accepting simplified standardised criteria for registration on regulated markets, and providing a definition of an emerging growth and high growth company and devoting special attention to the needs of such companies on the capital market.

EESC opinion: Capital Markets Union

Downloads: 

Building a Capital Markets Union for the EU - Philip Tod, European Commission DG FISMA

Comments on the European Commission's Green Paper on a Capital Markets Union - U.S. Chamber of Commerce

Presentation on CMU by DG FISMA - ECO Section meeting 18-06-2015

Adopted on 10/07/2013
Reference: 
ECO/347-EESC-2013-2677
Plenary session: 
491 -
Jul 10, 2013 Jul 11, 2013

The EESC welcomes initiatives to foster productive investment and the formation of long-lived tangible and intangible capital but urges the Commission to give greater attention to the need to finance more "socially useful" capital investment. If banks are likely to play a less prominent role in the future as providers of long-term financing, then opportunities may arise for other intermediaries such as national and multilateral development banks, institutional investors, sovereign funds and, crucially, bond markets. The EESC welcomes the recent recapitalisation of the EIB as this will strengthen its ability to leverage additional private investment finance and to play a stronger countercyclical role in investment funding and credit supply to SMEs..

Long-term financing – financial services sector

Adopted on 17/09/2015
Reference: 
ECO/380-EESC-2015-01820-00-01-ac-tra
Plenary session: 
510 -
Sep 16, 2015 Sep 17, 2015

A genuine stabilisation of the economic and monetary union (EMU) can only succeed if the deficits in the EMU architecture are solved and to this end major reforms are undertaken. The longer the current austerity policy continues, that primarily looks at spending cuts without the addition of an effective investment plan and measures to enhance income through growth, social cohesion and solidarity, it will become increasingly clear that Europe's economic integration and prosperity is at risk from growing social inequalities. The EESC calls for greater "parliamentarisation" of the euro area, with a grand EP committee comprising all members of parliament from the euro area and from those countries wishing to join (26 Member States), combined with stronger coordination of members of parliament from the euro area on EMU issues (COSAC +).

EESC opinion: The community method for a democratic and social EMU

Pages