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Commitments made at the hearings of the Commissioners-designate - von der Leyen Commission 2019-2024

16-10-2020

This document provides links to all Briefings produced by the Policy Departments of the Directorate-General for Internal Policies and of the Directorate-General for External Policies of the European Parliament, with salient points and essential commitments made by the Vice-Presidents and Commissioners-designates at their respective hearings before the European Parliament, in September-November 2019 and in October 2020. For an exhaustive list of all commitments made and positions taken by the candidates ...

This document provides links to all Briefings produced by the Policy Departments of the Directorate-General for Internal Policies and of the Directorate-General for External Policies of the European Parliament, with salient points and essential commitments made by the Vice-Presidents and Commissioners-designates at their respective hearings before the European Parliament, in September-November 2019 and in October 2020. For an exhaustive list of all commitments made and positions taken by the candidates, the full verbatim report of each public hearing is available on the dedicated hearings website of the European Parliament, as are the written questions and answers.

What role for the European Semester in the recovery plan?

15-10-2020

This briefing paper argues that the political imperative to ensure that the economic stimulus from the EU’s new commonly funded facilities is provided expeditiously will prevail against desires to create a robust governance framework for these funds within the European Semester process. The pandemic-related suspension of the Stability and Growth Pact creates a need to reform the Pact ahead of its future reintroduction. This presents an opportunity to incorporate more of the Semester’s reform implementation ...

This briefing paper argues that the political imperative to ensure that the economic stimulus from the EU’s new commonly funded facilities is provided expeditiously will prevail against desires to create a robust governance framework for these funds within the European Semester process. The pandemic-related suspension of the Stability and Growth Pact creates a need to reform the Pact ahead of its future reintroduction. This presents an opportunity to incorporate more of the Semester’s reform implementation agenda directly into the Pact’s policy prescriptions.

Externý autor

Jacob Funk KIRKEGAARD

How to provide political guidance to the Recovery and Resilience Facility?

14-10-2020

The Recovery and Resilience Facility (RRF) constitutes an unprecedented EU-wide resource to address the impact of the COVID-19 crisis on the EU economies. As the governance of the RRF is integrated in the European Semester, it fundamentally changes its character from a non-binding structure for policy coordination to a vehicle for the allocation of a major economic impetus. In light of this, this paper analyses the ways that parliamentary control and oversight of the RRF can be best secured at the ...

The Recovery and Resilience Facility (RRF) constitutes an unprecedented EU-wide resource to address the impact of the COVID-19 crisis on the EU economies. As the governance of the RRF is integrated in the European Semester, it fundamentally changes its character from a non-binding structure for policy coordination to a vehicle for the allocation of a major economic impetus. In light of this, this paper analyses the ways that parliamentary control and oversight of the RRF can be best secured at the EU-level.

Externý autor

Ben CRUM

Thematic Digest on EU Economic Governance Review

08-10-2020

This document presents the summaries of some papers in the area of EU economic governance, recently published by the European Parliament upon a request of the Economic and Monetary Committee (ECON). The thematic papers presented in this digest provides hopefully information and suggestions which will be useful for the on-going debate among policy makers, namely on the review of the EU legal framework for economic governance. They are written by external experts and supervised by the Economic Governance ...

This document presents the summaries of some papers in the area of EU economic governance, recently published by the European Parliament upon a request of the Economic and Monetary Committee (ECON). The thematic papers presented in this digest provides hopefully information and suggestions which will be useful for the on-going debate among policy makers, namely on the review of the EU legal framework for economic governance. They are written by external experts and supervised by the Economic Governance Support Unit.

Guidance by the EU supervisory and resolution authorities on Brexit

08-10-2020

This briefing gives an overview of the repercussions of the United Kingdom’s withdrawal from the EU on financial services, followed by the most recent guidance from the ECB Banking Supervisor, the Single Resolution Board and the three European Supervisory Authorities: the European Banking Authority, the European Securities and Markets Authority; and the European Insurance and Occupational Pensions Authority. The work of the European Systemic Risk Board on Brexit is also highlighted.

This briefing gives an overview of the repercussions of the United Kingdom’s withdrawal from the EU on financial services, followed by the most recent guidance from the ECB Banking Supervisor, the Single Resolution Board and the three European Supervisory Authorities: the European Banking Authority, the European Securities and Markets Authority; and the European Insurance and Occupational Pensions Authority. The work of the European Systemic Risk Board on Brexit is also highlighted.

Commitments made at the hearing of Mairead MCGUINNESS, Commissioner-designate - Financial services, financial stability and the Capital Markets Union

08-10-2020

The Commissioner-designate, Mairead McGuinness, appeared before the European Parliament on 02 October 2020 to answer questions put by MEPs from the Committee on Economic and Monetary Affairs. During the hearing, she made a number of commitments which are highlighted in this document. These commitments refer to her portfolio, as described in the mission letter sent to her by Ursula von der Leyen, President-elect of the European Commission and include Banking Union, Capital Markets Union and SMEs access ...

The Commissioner-designate, Mairead McGuinness, appeared before the European Parliament on 02 October 2020 to answer questions put by MEPs from the Committee on Economic and Monetary Affairs. During the hearing, she made a number of commitments which are highlighted in this document. These commitments refer to her portfolio, as described in the mission letter sent to her by Ursula von der Leyen, President-elect of the European Commission and include Banking Union, Capital Markets Union and SMEs access to finance, sustainable finance, FinTech strategy and cryptocurrencies, comprehensive approach to fighting money laundering and more resilience to extraterritorial sanctions.

EU/EA measures to mitigate the economic, financial and social effects of coronavirus - State-of-play 7 October 2020

08-10-2020

This document compiles information, obtained from public sources, on the measures proposed and taken at the EU or Euro Area level to mitigate the economic and social effects of Covid19. It will be regularly updated, following new developments.

This document compiles information, obtained from public sources, on the measures proposed and taken at the EU or Euro Area level to mitigate the economic and social effects of Covid19. It will be regularly updated, following new developments.

Background Reader On The European Semester Autumn 2020 Edition

08-10-2020

This fourth edition of the background reader on the European Semester, prepared by the Economic Governance Support Unit (EGOV) in the Directorate for Economic and Scientific Policies of the European Parliament, provides an overview of publications related to the European Semester from a parliamentary perspective. It aims at further increasing the links between Members of the European Parliament and national Parliaments, notably during inter-parliamentary meetings.

This fourth edition of the background reader on the European Semester, prepared by the Economic Governance Support Unit (EGOV) in the Directorate for Economic and Scientific Policies of the European Parliament, provides an overview of publications related to the European Semester from a parliamentary perspective. It aims at further increasing the links between Members of the European Parliament and national Parliaments, notably during inter-parliamentary meetings.

New life for an old framework: redesigning the European Union's expenditure and golden fiscal rules

07-10-2020

In the context of the review of the EU economic governance framework, this study recommends a multi-year ahead expenditure rule anchored in an appropriate public debt target, augmented with an asymmetric golden rule that provides extra fiscal space only in times of a recession. An improved governance framework should strengthen national fiscal councils and include a European fiscal council, while financial sanctions should be replaced with instruments related to surveillance, positive incentives, ...

In the context of the review of the EU economic governance framework, this study recommends a multi-year ahead expenditure rule anchored in an appropriate public debt target, augmented with an asymmetric golden rule that provides extra fiscal space only in times of a recession. An improved governance framework should strengthen national fiscal councils and include a European fiscal council, while financial sanctions should be replaced with instruments related to surveillance, positive incentives, market discipline and increased political cost of non-compliance.

Externý autor

Zsolt Darvas, Julia Anderson - Bruegel

The role (and accountability) of the President of the Eurogroup

06-10-2020

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

This note provides an overview of the role of the President of the Eurogroup, the procedures for his/her appointment, as well as proposals on a “full time position” as part of the wider debate on deepening the Economic and Monetary Union. The note also briefly addresses the mandate and working methods of the Eurogroup. In addition, this note refers to the debate around the transparency of Eurogroup proceedings. It is updated regularly.

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