The Mediterranean region is strongly exposed to climate change and faces fast-rising temperatures, water scarcity and coastal erosion. Energy transition plays an important role in climate change mitigation on both shores of the Mediterranean.
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The EU retail investment package aims to strengthen the legislative framework to ensure that retail investors are empowered to take more informed investment decisions that better correspond to their needs and objectives, and are adequately protected in the single market by a coherent regulatory framework.
The proposed initiative aims to improve access to the labour market and social inclusion by supporting Member States in integrating the social economy into their socio-economic policies and creating support measures and a favourable environment for the sector.
The EESC welcomes the simpler and more transparent economic governance framework, the reduction of the pro-cyclical bias, the improvement in national ownership and strengthened enforcement, the differentiation and more tailored fiscal adjustment path of each Member State, based on a common-risk framework. However, the Committee proposes replacing the requirement obliging any Member State with a budget deficit of over 3% to cut that deficit by an average of 0.5% of GDP annually, and emphasises that the "technical trajectory" should be first in the hands of national governments and, at a second stage, be the result of a technical dialogue with the European Commission In due course. In due time, but by 2026 at the latest, an EU fiscal capacity should be established to meet at least some of the investment needs for common priorities and to allow Member States the fiscal space to meet the fiscal costs of the multiple transitions.
Download — Avizul CESE: New economic governance rules fit for the future
