Climate change is an existential threat for the European economy. Therefore, a comprehensive approach is needed. In this context, based on the empirical and data analyses related to the impact of climate change on the real economy, macroeconomic and financial stability is essential. As things currently stand, intensified natural disasters will lead to unprecedented costs that will have an unpredictable impact on public finance.
The European economy is currently on a downward trend. This will lead to lower revenue and, at the same time, higher demand for spending – mainly related to the costs of climate change, higher borrowing costs and negative trends in demographic development.
In this opinion, the EESC is calling for a European flagship initiative for health, based on the principles of universality, quality, accessibility, solidarity and inclusivity. The strategic pillars of this roadmap are outlined, and a more institutionalised involvement of civil society in defining, evaluating and monitoring health priorities is asked.
The need for open and transparent budgetary processes has never been more critical. The multiannual financial framework (MFF) emerges as a crucial tool for aligning financial resources with the Union's long-term priorities. The EESC has highlighted significant gaps in the current MFF, including its limited scope in addressing contemporary challenges such as Europe's aging population and strained budgets due to inflation.
The EESC therefore explores a paradigm shift towards Open budgets in the EU –a framework that encompasses not only participatory budgeting but a broader spectrum of fiscal transparency and citizen engagement across all stages of the budget cycle. This approach is aimed at enhancing the responsiveness and effectiveness of EU budget allocations, thereby fostering a more resilient, inclusive, and democratic European economy.
The Annual Competition Report for 2023 presents the key policy developments and legislative initiatives undertaken in 2022, as well as a selection of important enforcement actions.
The European Union’s ambitious climate targets have significantly impacted resource and energy-intensive industries (REIIs), which are crucial to the EU economy. These industries face rising costs due to high energy prices, carbon pricing, and regulatory changes. This opinion reflects on the optimal solutions to maintain the competitiveness of EU industry in face if the rising energy prices and the costs required to support the transition towards a low-carbon economy. The EU Youth Test at the EESC was applied to this opinion.
The European Economic and Social Committee (EESC) was asked by the upcoming Hungarian Presidency of the Council of the EU to produce an exploratory opinion on paving the way to EU accession for the Western Balkans, underlining the benefits of the future enlargement to the region from a holistic point of view.
Consumers are increasingly mindful of environmental and social issues when buying products, emphasizing the importance of information on product origin and distribution in their decision-making process.
Download — Opinjoni tal-KESE: Deforestation of the Amazon rainforest – impact on climate change and the global environment; consequences for companies, workers and population
