The European Economic and Social Committee (EESC) organised a public hearing on "The rule of law and its impact on economic growth" on Tuesday, 8 September 2020, from 2.30 p.m.
As one of the fundamental values of the European Union, respect for the rule of law is essential for the very functioning of the EU. It is a prerequisite for the protection of all other fundamental values and democracy. However, the rule of law has come under pressure both within the Union and outside. The EESC believes that, further to its intrinsic value, the respect for the rule of law is crucial for the functioning of a sustainable social market economy. The EESC therefore decided to draw up an own‑initiative opinion to explore and better understand the economic importance of these values. To enable the EU and its Members States to respond better to the recent challenges that these fundamental values face, the opinion outlines recommendations that could be the basis for further policy actions at European and national level.
The event brought together a wide range of civil society organisations to discuss the economic importance of the respect for the rule of law in the EU, based on the findings and recommendations of the EESC own-initiative opinion.