At its October plenary session, the EESC adopted a package of three opinions on EU economic governance, providing European decision-makers with new input for the ongoing discussions on deepening Economic and Monetary Union (EMU) and the next European Semester exercise.
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Shortly after the UN's Intergovernmental Panel on Climate Change (IPCC) report of 8 October urging countries to massively shift towards a new paradigm, the European Economic and Social Committee (EESC) has adopted an opinion arguing for a "finance-climate pact" to ensure the financing of the necessary transitions. With the EU budget for the period 2021/2027 about to be adopted, the EESC tables the most ambitious proposal among the EU institutions: 40% of the EU budget should be devoted to the fight against climate change and its consequences, be it environmental, economic or social.
The EU crowdfunding framework proposed by the European Commission will help to build a capital markets union, foster innovation and support entrepreneurs and SMEs across the EU, says the European Economic and Social Committee (EESC) in a recently adopted opinion, which strongly supports the Commission's proposals. The proposed regulatory framework – a 29th regime, to exist in parallel with the 28 national regimes – will allow small, young and innovative enterprises in particular to strive for financing in all EU Member States.
The EESC believes that the European Commission's Action Plan is a good basis but that additional measures are needed to tap the full potential of financial technology and to ensure certainty and protection for all market participants
The EESC welcomes the proposals concerning NPLs made by the European Commission, but recommends a specific impact assessment to ensure the suitability and effectiveness of the proposed measures
Particular attention should be given to investment in sensitive areas such as infrastructure and key facilities, says the EESC
The EMU needs a common strategic vision, efficient governance mechanisms and a clear social dimension
While endorsing the Commission's reform proposals, the EESC calls for the principles of subsidiarity and proportionality to be applied
More integrated and strengthened financial supervision is needed to make progress towards the completion of the Capital Markets Union (CMU), the European Economic and Social Committee (EESC) urged at its plenary session in February.
Further measures at national and European level needed to counter the impact of future crises
The EU Member States must urgently work on a stable, prosperous and more resilient EMU: this was one of the main conclusions of a public debate on completing the Economic and Monetary Union (EMU), hosted by the European Economic and Social Committee (EESC) on ...
The reporting mechanism will contribute to more tax justice and fair competition in the EU
The European Commission must set out more precise hallmarks for the proposed reporting obligations on cross-border tax arrangements and transactions in order to prevent subjective interpretation by taxpayers and tax authorities which could lead to over-reporting and administrative burdens, the European Economic and Social Committee (EESC) urges in its recently adopted opinion on disincentives to tax avoidance or evasion.