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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 European Economic and Social Committee (EESC) welcomes the European Commission's proposals regarding its Action Plan on VAT, which aim to modernise the EU Value Added Tax (VAT) system, at the same time calling for some modifications. It asks the Member States to do their utmost to implement the proposed reforms and move towards the definitive VAT system within a reasonable timeframe.

All Member States, with the exception of the United Kingdom, Denmark and Malta, have decided to launch permanent structured cooperation (PESCO), pursuant to Section 2 (Articles 42 to 46) and Protocols 10 and 11 to the TEU. The will to introduce a type of differentiated integration has arisen as a political response to the demand from European citizens for greater security. It is a clear message of support for the common values of the Treaty of Rome, particularly now, at a time when the memory of the historical values of peace and cooperation that drove the peoples of the founding Member States to respond unanimously to the horrendous wounds of two world wars is fading in many Member States.

Looking back at the achievements of the Maltese Presidency and in particular at the progress made by the business community – this was the focus of a debate during the last Employers' Group meeting on 20 September, with the participation of the Employers' Group members and the presidents of the three major Maltese employers' organisations.