The EESC welcomes the Commission's package, a centrepiece in the EU offensive to address the persisting issue of NPLs and fundamental to progress towards the Banking Union. The EESC agrees with the application of statutory prudential backstops as a preventive measure to ensure that credit losses on future NPLs are sufficiently provisioned but warns against a "one size fits all" approach. The Committee recognises that the Commission gives an answer to many of the problems of fragmented NPLs secondary markets in the EU, however, the Committee is of the view that regulators must not encourage the sale of NLPs. The EESC welcomes that the right to a fair trial in a national court is ensured if it is necessary and if the application of the out-of-court procedure as proposed in the directive is restricted.
Towards a stronger international role of the euro - Related Opinions
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Adottati on 11/07/2018
Referenza:
ECO/451-EESC-2018-01109-00-00-ac-tra-enRapporteur:
Juan MENDOZA CASTRO (Spain)
Adottati on 18/04/2018
Referenza:
ECO/446-EESC-2017-05489-00-00-ac-traReferral:
COM(2017) 821 final COM(2017) 822 final COM(2017) 823 final COM(2017) 824 final 2017/0335 CNSCOM(2017) 827 final 2017/0333 APPCOM(2017) 827 final 2017/0333 APPRapporteur:
Mihai IVAŞCU (Romania)
Co-rapporteur:
The EESC appreciates the proposed roadmap for completing the European Economic and Monetary Union (EMU) but its support is not full and enthusiastic, since a number of social, political and economic issues, highlighted in our previous opinions, were not taken into consideration. The completion of the EMU requires first of all strong political commitment, efficient governance and better use of the available finances, in order to actually cope with both risk reduction and risk sharing among Member States. For these reasons the EESC underlines that the principles of responsibility and solidarity at EU level should go hand in hand.
Adottati on 19/10/2017
Referenza:
ECO/438-EESC-2017-02879-00-00-ac-traRapporteur:
David CROUGHAN (Ireland)
This opinion is part of a wider package of four EESC opinions on the future of the European economy (Deepening of the Economic and Monetary Union and Euro area economic policy, Capital Markets Union and The future of EU finances). The package of opinions underscores the need for a common sense of purpose in the Union governance, which goes far beyond technical approaches and measures, and is first and foremost a matter of political will and a common perspective. Against this background the Committee advocates the exploration of tools to improve economic governance in the EMU, for instance by creating a permanent Euro Finance Minister, while ensuring full democratic accountability. Bundling competences would enhance coherence of EMU policies.
Adottati on 19/10/2017
Referenza:
ECO/437-EESC-2017-03251-00-00-ac-traReferral:
COM(2017) 292 final Rapporteur:
Daniel MAREELS (Belgium)
This opinion is part of a wider package of four EESC opinions on the future of the European economy (Deepening of the Economic and Monetary Union and Euro area economic policy, Capital Markets Union and The future of EU finances). The package of opinions underscores the need for a common sense of purpose in the Union governance, which goes far beyond technical approaches and measures, and is first and foremost a matter of political will and a common perspective. The EESC is strongly in favour of the Capital Markets Union (CMU) and finds it absolutely necessary that the CMU becomes a reality in all EU Member States and calls for the political will at European level and in the Member States to make all necessary efforts and to establish all of the relevant conditions required.
Adottati on 19/10/2017
Referenza:
ECO/439-EESC-2017-03447-00-00-ac-traRapporteur:
Co-rapporteur:
Petr ZAHRADNÍK (Czech Republic)
This opinion is part of a wider package of four EESC opinions on the future of the European economy (Deepening of the Economic and Monetary Union and Euro area economic policy, Capital Markets Union and The future of EU finances). The package of opinions underscores the need for a common sense of purpose in the Union governance, which goes far beyond technical approaches and measures, and is first and foremost a matter of political will and a common perspective. Europeans need more (and better) Europe, not less Europe, in order to overcome the political crisis in the EU. The basic principle of the EU budget must be to deliver European added value, achieving better outcomes than would be possible for uncoordinated national budgets acting individually. The EESC considers that it is not credible for the EU budget to continue to be less than 1% of EU-GNI.
Adottati on 20/09/2017
Referenza:
ECO/432-EESC-2017-02566-00-01-ac-traReferral:
COM(2017) 208 final 2017/0090 CODCOM(2017) 208 final 2017/0090 CODCOM(2017) 331 final 2017/0136 CODCOM(2017) 331 final 2017/0136 CODRapporteur:
Adottati on 29/03/2017
Referenza:
ECO/389-EESC-2016-06466-00-00-ac-traRapporteur:
Adottati on 22/02/2017
Referenza:
REX/477-EESC-2016Referral:
COM(2016) 586 final 2016/0281 CODRapporteur:
Jan SIMONS (Netherlands)
The European Economic and Social Committee (EESC) welcomes the establishment of the European External Investment Plan (EIP) and the proposal for a Regulation on the European Fund for Sustainable Development (EFSD) and establishing the EFSD Guarantee and the EFSD Guarantee Fund as steps in the right direction towards tackling the causes of irregular migration at its roots. The eradication of poverty is also a goal on which the EFSD should focus. The Committee calls for a particular focus on resolving the situation in the countries that are the main source of migration where economic, social and security conditions have led to economic devastation and spiralling poverty while blocking any efforts towards sustainable development.
Adottati on 16/03/2016
Referenza:
ECO/392-EESC-2015-05877-00-00-ac-traRapporteur:
Petr ZAHRADNÍK (Czech Republic)
The euro area needs to step up its external representation. This will strengthen its relative weight in international financial institutions and give it a more prominent position in international financial markets. The EESC endorses the rationale behind the two Commission documents and agrees with the main elements of the three-phase scenario to gain a single euro area chair at the IMF by 2025. At the same time, however, the EESC proposes that the Commission also draft scenarios for making stronger and more effective the links with other relevant international bodies, taking particular account of their remits. The EESC also recommends clearly and explicitly defining the roles of euro area external representation and their dovetailing with those of the EU as a whole, with a view to preserving the integrity of the single market.
Adottati on 17/02/2016
Referenza:
ECO/384-EESC-2015-05437-00-02-ac-traReferral:
COM(2015) 468 final Rapporteur:
Daniel MAREELS (Belgium)
As the recovery of Europe's economies remains sluggish and fragile and the level of investment remains low, it should be a matter of priority to deploy every possible means to achieve a robust and stable economy. The Committee therefore endorses the goals of the action plan i.e. to mobilise capital in Europe and channel it to all companies, infrastructure and long-term projects. The Committee has serious concerns, however, regarding the relevance and effectiveness of the capital markets union for SMEs. They must be able to choose the funding channels that suit them best. At the same time the EU's economic and financial stability should be one of the priorities of the capital markets union. There should thus be more simplification, transparency and comparability of financial instruments.
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