The EESC notes that the international role of the euro has not yet recovered to the pre-financial crisis level. Whereas the European Commission's proposed measures are welcome and deemed necessary by the EESC, they may not go far enough given the extent of the euro area's social and economic challenges. Social cohesion, economic upward convergence and the promotion of competitiveness and innovation should be the basis on which the euro area's economy gathers pace and supports a stronger international role for the euro.

This additional opinion will complement and update the proposals made in the yearly EESC AGS opinion, produced under time pressure, to reinforce the Committee's impact throughout the entire annual semester cycle.

The objective of this proposal is to provide an update of EESC's positions related to the cohesion package presented by the Commission on May 2018. While the discussions in the Council and the Parliament are still ongoing, this opinion will reflect better the developments in view of a successful cohesion policy in the post-2020 period.

The Romanian presidency who has asked for this opinion proposes that  the conclusions drawn in this opinion could stimulate the informal ministerial debate of the cohesion ministers to be held in April 2019.