Following the outbreak of the COVID-19 pandemic, the European Economic and Social Committee (EESC) played a central role in bringing the consensual views of organised civil society in the EU to the attention of policy-makers and contributing to the rapidly evolving economic policy response at European level.
In this regard, we believe that now is the time for the EU institutions to make decisive steps in approving swiftly the new Facility and putting in place the necessary implementation mechanisms at European and national level, so that the hardest hit Member States, citizens and businesses can benefit from the relevant EU funding when they need it most.
Against this background, and on the occasion of the first meeting of the EESC's Section for Economic and Monetary Union and Economic and Social Cohesion (ECO) in our new term-of-office (2020-2025), we are organising a thematic debate on this issue between European policy-makers and civil society representatives.
The debate will take place on Thursday, 19 November 2020 from 14.30 to 16.40 as an online event, webstreamed live on the EESC website.
After the financial crisis, it became clear that the fragmented environment in the EU made it difficult to deal decisively and effectively with problems, particularly in the financial system. A common and cross-border approach became essential/were needed. The challenge was to make the financial institutions and markets more stable, competitive, safe and resilient. From that perspective, the plans for a fully-fledged banking union and a capital markets union were the right response.
