The EESC welcomes the Commission communication and emphasises the growth potential of crowdfunding in the EU as an alternative source of funding. It also emphasises the dependence of SMEs on bank loans, a situation that will persist despite the existence of alternative sources which are not always easy to access. Therefore Crowdfunding should be explicitly recognised in the laws of the Member States as a new form of patronage.
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.
Although considerable progress has already been made towards completing EMU, there is still a need to significantly reinforce all four of its pillars, taking care to maintain the balance between them, as neglecting one or more of these pillars could result in dangerous disparities. Resilience to crises is a necessary, but not sufficient, condition for completing EMU: it also requires a positive vision, as set out in Article 3 of the EU Treaty. The EESC generally calls on the European institutions and national governments to take much more ambitious action in the context of EMU reform in order to achieve a more integrated, more democratic and socially better developed Union.
A coherent Industrial Policy requires far better governance – the EESC position. The EESC welcomes very much the focused attention to Europe's industry, as expressed in the Commission's update on Industrial policy of October 2012. The present opinion insists on a change of mind-set in the Member States (MS) and the EU Council. It stresses the need of coherent decision-making on a wide variety of issues, and effective governance at EU level. Only then industrial policy can become a building block of an EU Growth Initiative of which there is still little effective action.