The forthcoming Presidency of the Council of the EU (Germany), aims to further discuss and analyze the policy objective 1 under the Common Provisions Regulation for cohesion policy that refers to '' a smarter Europe by promoting innovative and smart economic transformation''. In this context, the Presidency has asked the EESC to provide an opinion on how the structural measures and cohesion policy programmes can help in this process. The Presidency plans to present the key findings of this discussion in a High-level conference that will take place on 29th of September where also the opinion of EESC will be discussed.
Download — advies EESC: The role of EU structural and cohesion policy in driving forward the transformation of the economy in an innovative and smart manner (Exploratory opinion at the request of the German presidency)
The Commission's decision to create a Digital Single Market (to remove virtual borders, boost digital connectivity, and make it easier for consumers to access cross-border online content) is therefore a welcome move. But what does it mean for SMEs in practice? How will this affect their day-to-day running? And, given the lessons learnt from previous rapid changes, how do we make an "inclusive" success of the Digital Single Market?
Europe is embarking on a transition towards climate neutrality and digital leadership. European businesses can lead the way as we enter this new age, as they has done in the past.
Small and medium-sized enterprises (SMEs) are essential to Europe’s competitiveness and prosperity. Based on the new SME Strategy, the EU will support SMEs by:
encouraging innovation through new funding and digital innovation hubs as part of the sustainable and digital transitions;
cutting red tape by reducing barriers within the Single Market and opening up access to finance;
allowing better access to finance by setting up an SME Initial Public Offering Fund (with investments channelled through a new private-public fund) and the ESCALAR initiative (a mechanism to boost the size of venture capital funds and attract more private investment).
• Position paper "Strengthening SMEs: Way Forward to a Dedicated SME Strategy"
The EESC strongly supports the Commission's proposal – Next Generation EU – as a specific tool for a quick and effective recovery.
The EESC takes a very positive view of the Commission's two main decisions:
to introduce an extraordinary financial recovery instrument as part of the multiannual financial framework
to raise common debt, which will be repaid over a long period of time, and prevent the extraordinary financial burden from falling directly on the Member States in the short run.
The EESC strongly welcomes the fact that the newly proposed instrument should be closely coordinated with the European Semester process, and furthermore welcomes the Commission's proposal to introduce additional genuine own resources based on different taxes (revenues from the EU Emissions Trading System, digital taxation, large companies' revenues).
Download — advies EESC: Recovery plan for Europe and the Multiannual Financial Framework 2021-2027
The European Union and its Member States must stand united to protect their sovereignty. The EESC firmly believes that if Europe is to maintain its leading role in the world, it needs a strong, competitive industrial base. The EESC recognises the crucial importance of shifting to a carbon-neutral economy and of reversing the current curve of biodiversity collapse. Without a green industrial strategy as a cornerstone of the Green Deal, the EU will never succeed in reaching a carbon-neutral economy within one generation. The new industrial strategy must ensure the right balance between supporting European businesses, respecting our 2050 climate neutrality objective and providing consumers with incentives to shift consumption to sustainable goods and services .
While acknowledging the progress made by the Commission in taking account of smaller and less complex banking institutions in its recent regulatory measures, the EESC believes it would be useful to further increase the proportionality of banking rules, without sacrificing the effectiveness of prudential rules.
The EESC endorses the recent decision to push back the date for implementing the Basel III accord, and feels that when the time comes, the new provision on capital requirements should be transposed in a way that caters properly for the diversity of banking business models in Europe.
Download — advies EESC: Inclusive and sustainable Banking Union
While the recovery after COVID-19 crisis is a top priority, the EESC stresses that this should not steer the EU away from its medium and long-term objectives, as outlined in the European Green Deal, 2020 Sustainable Growth Strategy, and the European Pillar for Social Rights. There is a need for a resilient, technology-driven European economy that is defined by the protection of the environment. The EESC underlines that strategies aimed at enhanced economic sustainability need to be developed around productivity, but they cannot be allowed to happen at the expense of workers' rights and social development. The EESC advocates for re-thinking supply chains, underlines that social aspects should be emphasised, start-ups should be encouraged and that the cornerstone of sustainable economic growth in the EU should be the creation and development of a truly circular economy. Open dialogue with social partners and civil society remains key to setting the economic direction.
Download — advies EESC: Enhancing sustainable economic growth across the EU
