It is time to build the social pillar of the EMU within the framework of a social Europe, without which citizens' adhesion to the European project as a whole will remain at risk. The EESC recommends to launch a new European Social Action Programme with tangible measures to develop social governance and participatory ownership of the European project. The EESC would propose two new exploratory initiatives: - The issuance of European Social Bonds financed, owned, managed and supervised transparently by civil society stakeholders; - The setting-up of a European Education Network for Unemployed Workers.
Download — EESC opinion: Subcommittee - For a social dimension of the European Economic and Monetary Union
The international economic and financial crisis exposed the structural limitations and contradictions in EMU, depriving the euro of its propensity to attract. The EESC believes that the single currency will be unsustainable unless we achieve convergence between the economic capacities of the euro area countries and improve overall competitiveness, objectives which require economic as well as political commitment. The Treaty on Stability, Coordination and Governance stresses stability without proposing joint financial instruments for recovery and employment. Europe needs to go back to generating wealth in order to redistribute it fairly. Briefly, these are the EESC's four recommendations for completing the euro framework, i.e.
Download — EESC opinion: Where is the euro headed?
The EESC agrees with the Commission on the need to change the rules of the Parliament and of the Council on the European Social Fund and the Structural Funds, but regrets that the funds for the Initiative for Youth Employment do not result from a strengthening of the EU budget but are taken from the overall budget for cohesion. The Committee is also convinced that the foreseen amount, i.e. € 6 billion, is insufficient given the magnitude of the problem and the urgency to solve it. Finally, the Committee reiterates that the maximum age giving access to the Youth Guarantee should be increased to 30 years to cover for people who are still in a transition phase from education to employment.
The EESC welcomes as such the Commission's Social Investment Package and the shift in approach it represents. However, the EESC considers that the question of financing remains largely unanswered. Better use of the European structural and investment funds and the best possible targeting of the measures are certainly to be welcomed, but will certainly not be enough to achieve the desired policy shift.
Download — EESC opinion: Social Investment Package
The EESC welcomes the Commission communication, which may prove a historic turning point provided that the Council finally musters the courage and the will necessary to adopt and put into effect the provisions that will help to achieve the stated objectives swiftly. Therefore, to achieve a genuine EMU, the EESC believes it necessary in the immediate term (without amending the Treaty) to: launch a European growth initiative; introduce a convergence instrument to help overcome the economic asymmetries between countries; implement a solution to the debt issue; rapidly implement banking union; complete the single market in all sectors; reduce the fragmentation of the credit market.
Download — A deep and genuine Economic and Monetary Union
The opinion will seek to examine how trade relations with the region can best be developed by means of a first example country, which is Morocco. Trade relations with Morocco stand out as a priority because the EU currently has the closest trade links with Morocco of all the countries in the region.
