Position Paper of the EESC Employers’ Group on the reform of the Stability and Growth Pact
Insurance Recovery and Resolution Directive-Presentation
The EESC Employers' Group strives for a business environment that contributes to sustainable development, while keeping the EU's economy resilient and resourceful in an ever-changing world. Our Political Priorities beyond 2020 explain how to achieve this goal by fostering EU values, strengthening the EU's economic foundation, bringing the EU to the digital forefront and seizing opportunities provided by proactive climate action.
After the financial crisis, it became clear that the fragmented environment in the EU made it difficult to deal decisively and effectively with problems, particularly in the financial system. A common and cross-border approach became essential/were needed. The challenge was to make the financial institutions and markets more stable, competitive, safe and resilient. From that perspective, the plans for a fully-fledged banking union and a capital markets union were the right response.
"Achieving sustainable growth in a competitive world is challenging. The challenge is even greater for the European Union, as the Old Continent faces a severe competitiveness deficit. Without entering into a health review, that could be delivered at a further stage, of each of the 28 Member States, the ambition of this study is to draw-up a comprehensive picture of EU economic growth.