The Annual Sustainable Growth Strategy 2020 (additional opinion) - Related Opinions
The EESC is concerned to note the euro area's economic downturn and the gradual end to a fall in unemployment, wedded to the persistent higher incidence of risk factors affecting economic performance. It is the European Green Deal that the EESC sees as the backbone of the future EU and euro-area economic configuration – the potential start of a fundamental change and a turning point. If managed successfully, it could move Europe up a gear economically and socially; if not, its failure could fatally jeopardise the integrity of the EU.
The EESC is currently drafting an opinion that aims to define what "the sustainable economy we need" should look like by exploring new economic models, investment decisions vis-à-vis technological advances as well as novel indicators for growth and competitiveness.
This additional opinion complements and updates the proposals made in the yearly EESC AGS opinion. The EESC welcomes country-specific recommendations focus on investment and underlines that special attention must be paid to productive investments and investment in social infrastructure to prioritise sustainable growth. Next year's cycle should contain more CSRs to combat the existential threat of climate change. Investment would also be needed to enable the implementation of the social pillar to prevent an increase of social, economic, and environmental inequality. Taxation should favour this type of investment.
The proposed opinion will look at new approaches to more fairly distributing the burden of transformation towards a sustainable Europe.
This own-initiative opinion will focus on the interface and inter-linkages between the European semester and Cohesion policy under the new Multiannual Financial Framework with a view to developing policy proposals to improve sustainable growth performance. With the Europe 2020 Strategy coming to an end, these proposals can contribute to the preparation of a new European strategy post-2020.
The EESC welcomes the reforms aimed at increasing high-quality investment and productivity growth, inclusiveness and institutional quality, and to ensure macro-financial stability and sound public finances. The EESC also welcomes the recognition of the need for investment focused on education and training and the need to strengthen the EU’s social dimension. However, it remains to be specified how these objectives are to be achieved. The EESC underlines that progress is very slow and proposals often rather modest in areas where new policies have been proposed, including fair taxation, the banking union and the functioning of the euro area. Moreover, the EESC recognises the importance of addressing climate change but measures so far adopted remain insufficient.