The EESC assesses how the EU’s sustainable finance framework can be made more robust and fit for purpose given its importance for the EU’s economic, social and climate objectives. The EESC affirms that simplification should not come at the cost of ambition. While administrative streamlining is needed, the focus should be on how requirements can be implemented more effectively, not on weakening standards. The EU’s regulatory strength and predictability are important competitive advantages that should be preserved amid growing geopolitical and economic uncertainty.
This own-initiative opinion constitutes the contribution of the ECO section to the 2025 EESC transversal own-initiative opinion package on the cost-of-living crisis, looking at specific economic policy measures that can help make the European economy future-proof.
This own-initiative opinion will examine the impact of single market fragmentation on the cost of living and competitiveness and look into successful EU initiatives to tackle such issues. It will aim at proposing possible solutions, with particular attention to consumer protection, to the cost-of-living crisis.
Cohesion policy in its current form has had positive impact on the socio-economic development of the EU, individual countries and regions. However, the Polish presidency points out that there is a need to improve the effectiveness of the mechanisms supporting the transformational objectives of cohesion policy. In the discussion of its future, there are ideas aimed at reforming the implementation mechanisms with the approach used in the implementation of the Recovery and Resilience Facility (RRF) implemented since 2021 as a response to the challenges arising from the COVID-19 pandemic and to support the transformation processes of economies.
In view of Europe's current security challenges, in particular with the armed conflict caused by Russia’s full-scale aggression against Ukraine, defence funding places a significant burden on the budgets of many EU Member States, worsening their fiscal position.
At the same time, the resources that Member States are currently able to allocate to the development of defence capabilities still seem to be insufficient.
As Europe needs to develop defence capabilities in a more integrated way, there is a need to significantly increase investment in European defence infrastructure and technological innovation to improve preparedness to respond to threats.
