The COVID-19 pandemic has caused a slowdown in the activity of many economic sectors and, at the same time, is giving rise to a significant shift in the global balance of power. In this context, the EU is looking for an appropriate strategy to strengthen its role as a global economic player, with policies aimed at boosting the international role of the euro, strengthening the resilience of EU financial market infrastructures and improving the implementation of sanctions imposed on third countries.
Rannóg um Aontas Eacnamaíoch agus Airgeadaíochta agus um Chomhtháthú Eacnamaíoch agus Sóisialta (ECO) - Related News
The European Economic and Social Committee (EESC) welcomes the Commission's new Action Plan on non-performing loans, but believes that it lacks new proposals fit for COVID-19 times, leaving Europe to face an extraordinary time with rules written for ordinary times.
In a debate at the EESC plenary session on 25 March, the Executive Vice-President of the European Commission for an Economy that Works for People, Valdis Dombrovskis said that most of the national recovery and resilience plans (RRPs) are still at an early stage and that "there is still a lot of work to do before the plans are mature enough". He also stressed that trade policy has a key role to play in getting the EU economy back on track.
Italy's national anti-mafia prosecutor Federico Cafiero De Raho has called on Europe to act as a single country against organised crime, with enhanced monitoring systems and immediate judicial responses. An online conference hosted by the EESC discussed the ability of mafias to infiltrate the legal economy, and the even more dangerous threat this poses at a time of pandemic.
The European Economic and Social Committee (EESC) broadly supports the Commission's legislative proposals on more efficient and fair taxation and praises their coordination at global level.
The European Economic and Social Committee (EESC) has adopted its position on the EU's economic priorities for 2021. It welcomes the steps taken in the strategy to address the challenges of the COVID-19 pandemic in the context of the European Green Deal, but is disappointed that the strategy proposed by the European Commission devotes too little attention to social issues. It also warns against phasing out support measures too early and advocates establishing new fiscal rules that will reflect social and economic realities after the pandemic.
The European Economic and Social Committee (EESC) supports the digital financial package proposed by the European Commission. While digitalisation brings major opportunities, it also presents risks for the EU financial sector that cannot be overlooked and require swift action.
In its opinion on the Euro area's economic policy for 2021, the European Economic and Social Committee welcomes the Commission's recommendations, but calls for a shift in fiscal rules towards a more prosperity-oriented form of economic governance, including a golden rule for public investment.
The RRF is still under negotiation, but according to the EU institutions the involvement of civil society will be fundamental both in the design and implementation phases of the national recovery and resilience plans.
Taking into account the disastrous social and economic impact of the COVID-19 crisis, the EESC has adopted two additional opinions on the Annual Sustainable Growth Strategy and on the euro area economic policy.