Majandus- ja rahaliidu ning majandusliku ja sotsiaalse ühtekuuluvuse sektsioon (ECO) - Related Opinions
EU companies rely excessively on banking financing and are highly indebted. This own-initiative opinion proposes the development of a highly subordinated instrument at EU level that boosts the recapitalisation of EU firms. This would be a secure and easy-to-implement solution for SMEs, that would improve their financial position and promote investment without increasing leverage.
Crypto-assets are a digital representation of value or rights which may be transferred and stored electronically, using distributed ledger technology or similar technology (e.g. blockhain). They are neither issued nor guaranteed by a central bank or public authority, and can be used as a means of exchange and/or for investment purposes and/or to access a good or service. A wide range of crypto-assets exist, encompassing different features and functions, hence presenting different challenges and risks.
The consequences of the Russian military aggression have grown in scope and its impact has expanded. As a result, Member States are facing continuous substantial inflows of persons fleeing the Russian aggression. This situation comes on top of the consequences of the COVID-19 pandemic, notably the disruption of value chains, which challenges public budgets that were focused on the recovery of the economy, but also risks delaying investments, especially in infrastructure.
EESC believes that there is a need to have a clear and structured view of which funds are targeted to tackle climate change and how they are managed. With an approved budget of over EUR 330 billion in the current programming period, cohesion policy is the largest and most important investment tool in Europe. As 30% of both the Cohesion Fund and the European Regional Development Fund (ERDF) will need to be spent on projects for decarbonising our economy, cohesion policy has a crucial role in tackling climate change. Moreover, funds will also be made available under NGEU, as the green transition is one of the main targets of recovery and resilience after COVID-19.
The Leipzig charter as a strategic part of Urban policy in Europe has recently been modified by the Ljubljana agreement that the Commission adopted on 26 November 2021. It signals the start of a new phase of the Urban Agenda for the EU. In this context, the forthcoming Czech EU Presidency, asks the contribution of the EESC to explore how these changes could impact on the creation of new Thematic Partnerships. Amongst others the Czech presidency is putting forward the following questions:
What should be put into consideration while implementing the new theme of urban communities and the involvement of citizens?
What should be the thresholds to create a functioning mechanism for strengthening the position of citizens and groups of citizens to achieve the targeted cooperative partnerships.
The EESC stresses that the rise of cross-border teleworking pose challenges to the international taxation systems and invites the Member States and the European Commission to work together to find solutions for the new situation. The Committee encourages the European Commission to consider whether a one-stop shop, like in the VAT area, could be set up for cross-border teleworkers to allow the employees and employers to reduce tax disputes and help to ensure that taxes are levied correctly.
In relation to digital taxation the EESC deems it crucial for both Pillar 1 and Pillar 2 of the OECD to be implemented within the EU as soon as it is feasible, achieving a high degree of consistency with the international agreement that will be negotiated within the OECD/G20 venue. The Committee stresses that properly devised international tax laws on digital businesses are instrumental in preventing tax evasion and tax avoidance practices, as well as in designing a fair, stable and progressive taxation system.
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