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Competitiveness is not an end in itself. It is only a sensible objective if it improves people's well-being in practice. The EESC therefore recommends that an updated definition of competitiveness ("competitiveness 2.0") be used in future, taking into account "the ability of a country to deliver the beyond-GDP goals for its citizens". The EESC urges that future discussions refer not to "competitiveness boards" but to "boards for competitiveness, social cohesion and sustainability". The EESC asks the Commission to present concrete proposals on how the following necessary requirements with regards to these boards can be safeguarded: accountability, legitimacy and transparency; representation of balanced unbiased expertise; non-binding character of proposals of the boards; inclusion of the dual role of wages, both as a cost factor and as the main determinant of domestic demand.
The EESC welcomes the fact that the package of regulations on the future multiannual financial framework includes the InvestEU proposal to strengthen investment activity in the EU, including long-term investment projects that are of high public interest, while also respecting the sustainable development criteria. In order to guarantee that this programme operates successfully, the Committee underlines the importance of the involvement of civil society organisations and social and economic partners. The EESC appreciates the European Commission's efforts to create an umbrella financial instrument by the InvestEU programme that will result in unified management, enhanced transparency and potential for synergies. The EESC appreciates the fact that, in addition to promoting sustainable infrastructure, small and medium-sized enterprises (SMEs) and research and innovation, the InvestEU programme also focuses on social investment and skills.
The euro area needs to step up its external representation. This will strengthen its relative weight in international financial institutions and give it a more prominent position in international financial markets. The EESC endorses the rationale behind the two Commission documents and agrees with the main elements of the three-phase scenario to gain a single euro area chair at the IMF by 2025. At the same time, however, the EESC proposes that the Commission also draft scenarios for making stronger and more effective the links with other relevant international bodies, taking particular account of their remits. The EESC also recommends clearly and explicitly defining the roles of euro area external representation and their dovetailing with those of the EU as a whole, with a view to preserving the integrity of the single market.
The EESC supports the Commission's proposal to expand the scope of controls and the competency of the authorities in order to conduct checks and confiscate goods, whenever there is a reasonable indication of illicit activities. The EESC recommends to improve cooperation, both between the competent authorities and between Member States and suggests that penalties should be harmonised across Member States and communicated to the Commission in a coherent way. The Committee also proposes that, in addition to gold, other "highly liquid commodities" should be included in the definition of cash from the moment the new regulation is adopted and it draws attention to the threat of further use of pre-paid cards by criminals and terrorists to covertly finance their activities.