Last week the Council of Ministers decided to extend the European fund for strategic investments (EFSI 2.0), with an additional half a trillion euros of investments by 2020. The EESC Plenary today called for its immediate implementation, a geographically balanced coverage across the EU and ensuring the involvement of private capital. According to Alberto Mazzola, EESC rapporteur on EFSI: "We propose, while guaranteeing the proper use, an ever greater involvement of private capital: the bond market ...
At its plenary meeting on 17 March 2016, the European Economic and Social Committee gave a clear message to the European Commission, calling on it to draw up conclusive proposals which go further in completing Europe's Economic and Monetary Union without delay. In a package of opinions, the Committee put forward the points of view of the social partners and civil society on the package of proposals for Deepening EMU which the Commission published at the end of last year.
The market of crypto assets continues to grow, bringing with it both opportunities and challenges. Whilst it is important to harvest the potential the technological innovations offer, the associated risks have to be closely monitored. The hearing will take stock of new developments in the crypto sector, raise awareness, and come up with policy proposals to tackle emerging risks, in order to protect consumers and preserve financial stability.
Emmanuel Macron introduced the French presidency of the Council of the European Union (EU) by launching the idea of a new growth model. This new model should make it possible to create employment, reconcile economic development and climate ambition, respond to digital challenges and rely on a redesigned European financial framework.
A proposed review of EU banking rules aims at ensuring that EU banks become more resilient to potential future economic shocks, while contributing to Europe's recovery from the COVID-19 pandemic and the transition to climate neutrality. The public hearing will provide the views of institutional and civil society stakeholders, and will help form the policy recommendations the EESC is drawing up on the legislative proposals currently under discussion.
GDP is the best-known measure of macro-economic activity. While it is used both by policy-makers around the world and in public debates, it was not designed to be a comprehensive measure of prosperity and well-being. Thus, other indicators are needed to assess and address the global challenges of the 21st century such as climate change, poverty, resource depletion and to promote health and a higher quality of life. Beyond GDP indicators should become instruments to not only monitor and measure, but also to inform policy development, improve communication and encourage target setting. Against this background, the Section for Economic and Monetary Union and Economic and Social Cohesion (ECO) of the European Economic and Social Committee (EESC) is currently working on an own-initiative opinion on 'Beyond GDP measures for a successful recovery and a sustainable and resilient EU economy'.
Both a sustainable economic and social recovery from the COVID-19 crisis and the need to address effectively the climate change will require a massive expansion of investments. To achieve this, reshaping the EU fiscal rules is indispensable. Against this background, the Section for Economic and Monetary Union and Economic and Social Cohesion (ECO) of the European Economic and Social Committee (EESC) is currently working on an own-initiative opinion on Reshaping the EU Fiscal Framework for a Sustainable Recovery and a Just Transition.
The Recovery and Resilience Facility is moving into its next phase, and the European Semester Group of the EESC is following the process. In this high-level conference we will discuss whether the national recovery and resilience plans will deliver as regards the aim of achieving fair, inclusive, competitive and sustainable growth and cohesion through the new growth strategy – the European Green Deal. Focus will be on the implementation of the national recovery and resilience plans, with particular attention on the implementation of the European Pillar of Social Rights and the just transition towards a green, digital and sustainable European economy. The conclusions of this event will be forwarded to EU institutions and the "EU Recovery Summit" conference in Lisbon on 28 June 2021.
The economic impact of organised crime and money laundering - How does the Covid-19 crisis aggravate the problems?
Activities of organised crime organisations like money laundering and the tapping of public funds have consequences for the economy, business and society. A crisis like the Covid-19 pandemic may be an opportunity for organised crime to spread their activity, gain power and even innovate to find new ways to pursue their objectives.
Implementing the Recovery and Resilience Facility to fight the economic consequences of the COVID-19 crisis
Following the outbreak of the COVID-19 pandemic, the European Economic and Social Committee (EESC) played a central role in bringing the consensual views of organised civil society in the EU to the attention of policy-makers and contributing to the rapidly evolving economic policy response at European level.
In this regard, we believe that now is the time for the EU institutions to make decisive steps in approving swiftly the new Facility and putting in place the necessary implementation mechanisms at European and national level, so that the hardest hit Member States, citizens and businesses can benefit from the relevant EU funding when they need it most.