Izaugsme

The EESC agrees with the aims of the Council Recommendation and with some of its proposals. However, it expresses its disagreement with the proposal for the aggregate fiscal stance of the euro area to be neutral, as well as with the way that the recommendation on salaries is formulated.

The EESC welcomes the new set of measures proposed by the European Commission to complete the Economic and Monetary Union (EMU) and move towards an optimal monetary zone. The EESC supports the various proposed goals for reinforcing the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). The EESC welcomes that the present communication provides scope for a broader discussion and for a phased approach to implementing the European Deposit Insurance Scheme (EDIS) and underlines the importance not to lose momentum in implementing the Banking Union. Finally, the EESC reiterates its commitment to a diverse financial ecosystem in which the large pan-European players coexist with small and medium-sized banks and other non-banking entities that focus reliably on the financing of the real economy on an equal footing, in an environment of much reduced systemic risk.

The Committee recommends that future crises in the European Union should be managed by striving for a better balance between fiscal and social objectives and urges the Commission to design "supplementary economic and social recovery" programmes, to be applied at the same time as or at the end of an adjustment programme. The EESC recommends that in any future crises situation, the EU Institutions should be solely responsible for developing and implementing the adjustment programmes and stresses that social partners and representatives of civil society must be included in the programme's monitoring and assessment panel, on an equal footing with representatives of the EU, the ECB and other bodies.

The EESC believes that income and wealth inequalities in the EU have become economic and social challenges that should be addressed with appropriate measures at national level and with the support of EU-level action.

A well-functioning system of social transfers and social assistance is thus needed. Fiscal redistribution should to a large extent complement the gaps in the market system. Public assets (social infrastructure, facilities for services in the public interest, etc.) should be developed as a means of addressing inequalities. And fiscal income should be shifted from labour-based taxation towards a more wealth-based one, with taxation on inheritance and capital income. Overall, Intensive economic growth is key to reducing poverty and wealth inequalities.