The Commission has published a Green Paper to discuss ways to regulate the shadow banking sector, an essential source of liquidity outside the regular banking system.
The EESC believes the players in the sector that include hedge funds, money market funds and structured investment vehicles should be subject to the very same regulatory and prudential requirements as the financial system as a whole.
The Committee insists the entire financial sector must assume social responsibility by moving beyond mere speculation and by serving economic growth.
Digital agenda in general is one of the tools to address the current crisis. E-procurement specifically brings modernisation, innovation and less market fragmentation. The EESC opinion gives in-depth analysis of the current state in the MS, puts forward concrete solutions and gives an objective judgement of the EC strategy for e-procurement.
The opinion is interesting to national and local public administrations and to the private sector as well.
The EESC calls for greater relevance to be given to economic, social and cultural rights, in particular to the protection of labour standards enshrined in the ILO Conventions which it considers a key pillar to democracy development.
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The Commission proposal for a directive on the enforcement of the directive on posting of workers is one of the proposals intended on the one hand to strengthen the rules on posting of workers and on the other to codify the existing legislation governing the right to take collective action in cross-border situations. The EESC welcomes the intention to enforce the existing directive, focusing on better implementation and effective administrative cooperation among Member States. The original Directive plays a key role in promoting a climate of fair competition between all service providers (including those from other Member States) by guaranteeing both a level playing-field and legal certainty for service providers, service recipients, and workers posted for the provision of services.
"The opinion is therefore based on the realisation that the handicap beleaguering Europe now is not so much delays in building its internal market as the need to establish a strong economic, industrial and technological identity in the context of globalisation. The EESC believes that discussion therefore needs to consider all the costs of non-Europe resulting from the failure to complete European integration.
The approach advocated in the opinion seeks to reduce costs, optimise expenditure, maximise opportunities and provide an appropriate response for meeting current challenges and finding a positive way out of the crisis which will benefit everyone.
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