This is the second Commission's Communication and the second EESC opinion on this subject. Although the EESC is generally supportive of the action plan, it stresses the need for more emphasis on building up the capacity of EU manufacturing companies which satisfy the market pull for new technologies. The opinion draws attention to essential background factors which jeopardise the efficiency of the action plan, for example scarcity of venture capital, lagging state aid modernisation and unclear governance of the project.
The EESC welcomes this legislative proposal which ensures the effective resolution of failing financial institutions within the EU, and supports the introduction of harmonised rules regarding intra-group financial support. The Committee also stresses that the Central Banks, including the ECB, have to be involved in the assessment of the recovery and resolution plans, while remaining independent. Professional advice of consumer organisations, trade union representatives, etc., should also be sought. The Committee encourages a greater degree of certainty for the institutions by introducing explicit and more clearly defined rules. The opinion demands more clearly defined rules for the Special Manager (SM) as a highly intrusive early intervention measure, and points out the need for additional clarifications regarding both the bail-in tool and the Resolution Authorities (RAs).
Download — Recovery and resolution of credit institutions
This own initiative opinion has been drafted in response to the Commission staff working document adopted on 24 April 2012 and which sets out its current thinking of what a European Code of Conduct on Partnership (ECCP) should look like during the forthcoming cohesion policy programming period. The EESC has strongly defended the need for an ECCP; in the meantime the Council has indicated that it wishes to delete all reference to an ECCP upon which the EESC President has written to the Council, Parliament and Commission arguing the need to maintain the Commission's proposals as is.
The EESC is deeply worried about the increasing concern felt among organised civil society with regard to the implementation of the partnership principle. Reports from some Member States show an on-going trend towards a dilution of this partnership principle and a decrease of participation by organised civil society.
Letter by President Staffan Nilsson to the Ministers responsible for Cohesion Policy in the European Union on the importance of the Partnership principle in the Common Provisions Regulation
State aid modernisation is of strategic importance for the EU in a highly competitive globalised economy. The EESC shares in its opinion the Commission's vision but considers that this ambitious reform needs clarification in certain respects. The importance of this reform and of the EESC's opinion is illustrated by the fact that the rapporteur was invited to meet personally with the Commissioner Almunia.
