Cohesion policy is key to overcoming the COVID-19 crisis, to achieving climate neutrality by 2050 and to reducing disparities in Europe. Its most serious challenge for the foreseeable future, however, is the war in Ukraine, the EESC cautions in a recent opinion. Rapid action is needed to help refugees and ensure the country's European integration.
Trillions of euros are needed for Europe's economic recovery. EU proposals for accessible investment data and long-term funding must be more flexible and promote a transparent level playing field, to include more investors and businesses in capital markets.
In an opinion adopted during its March plenary, the European Economic and Social Committee (EESC) welcomed the European Commission (EC) proposal to implement the remaining elements of the Basel III international standards in the EU. The aim is to strengthen the resilience of the banking sector while ensuring that it continues to finance economic activity and growth. But the EESC also calls on the EC to find a proper balance between faithful implementation, and the need to reflect the specificities of the EU economy and banks.
Ensuring effective and fair taxation across the Single Market is crucial to stimulating a real recovery after the COVID-19 pandemic. In an opinion adopted at its March plenary session, the European Economic and Social Committee (EESC) supported the European Commission (EC) proposal on the misuse of shell companies for tax purposes. This is purely a tax directive proposal, however, and the Commission needs to dig deeper into the topic, and address other key issues related to shell companies.