DOCSLIB.ORG

The EUROFI Magazine BERLIN SEPTEMBER 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The EUROFI Magazine BERLIN SEPTEMBER 2020 Views The EUROFI Magazine BERLIN SEPTEMBER 2020 Olaf Scholz Federal Minister of Finance and Vice Chancellor, Germany Together for Europe’s recovery The Eurofi Financial Forum 2020 Berlin | 9, 10 & 11 September F. Hufeld I. Tinagli M. Centeno How to face multiple The Recovery Package The pandemic crisis: challenges at and the new priorities Sustainability, role of the same time for the European Union monetary policy and the need for long-term growth And more than 150 contributions from leading public and private sector representatives: R. Gualtieri - K. Knot - J. Kukies - B. Le Maire - V. Šapoka - H. Waiglein - O. Renaud-Basso - C. San Basilio - R. Holzmann - B. Vujčić - V. Vasiliauskas - P. Hernández de Cos - M. Müller - J. Wuermeling - E. Fernandez-Bollo - B. Balz - D. Beau - S. Goulard - K. Regling - Y. Mersch - JM. Campa - E. König - S. Maijoor - F. Hufeld - P. Heilbronn - W. Hoyer - G. Bernardino - V. Dombrovskis - J. Berrigan - M. Nava - M. Velentza - M. Merlin - U. Bassi - O. Karas - P. Tang - S. Yon-Courtin - S. Pietikäinen - M. Ferber - R. Ophèle - G. Figueiredo Dias - JP. Servais - K-P. Schackmann-Fallis - H. Schleweis - E.T. Müller - C. Sewing - S. Leithner - J. Lemierre - X. Musca - C. Staub - M. Ronner - A. Weber … VISIT OUR WEBSITE www.eurofi.net for our latest publications on the conditions for relaunching growth post-Covid and on-going trends and policy developments in the financial sector EUROFI POLICY NOTES PUBLIC AND PRIVATE SECTOR VIEWS The Eurofi Financial Forum BERLIN | SEPTEMBER 2020 This bi-annual Views Magazine comprises contributions from a wide range of public and private sector representatives on the challenges and conditions for relaunching growth post-Covid, on-going industry trends such as digitalisation and ESG and key on-going policy initiatives in the financial sector. Content EDITORIALS & OPENING INTERVIEWS I. POST-COVID PRIORITIES What way forward for the EU following the Covid crisis? ............................................................................................................. 20 Priorities for the financial sector in the post-Covid era ................................................................................................................ 24 Is the EU response to the Covid economic crisis fit for purpose ................................................................................................ 28 II. CHALLENGES AND CONDITIONS FOR RELAUNCHING GROWTH Is current monetary policy doing more harm than good and are there alternatives? .......................................................... 36 Conditions for relaunching growth in the EU ................................................................................................................................. 44 Should we be concerned about post-Covid financial stability? ................................................................................................. 50 Way forward to address unsustainable sovereign debt in the EU ............................................................................................... 56 Should financial sovereignty be a key objective for the EU? ....................................................................................................... 64 III. BANKING AND INSURANCE REGULATION How should the banking framework evolve in the context of the economic crisis? ............................................................ 72 Does the Covid crisis reinforce the case for Banking Union? ..................................................................................................... 80 What does the Covid crisis mean for insurance companies and their regulation? ............................................................... 88 IV. FUTURE STEPS OF THE CMU CMU: is the High Level Forum report the right way forward? ................................................................................................... 96 Can the EU manage without the City? ......................................................................................................................................... 106 How to maximize the role of investment funds in the post-Covid recovery? .................................................................... 114 How to develop retail investment in the EU? .............................................................................................................................. 120 What more needs to be done to strengthen equity funding .................................................................................................. 126 How to relaunch securitisation? ..................................................................................................................................................... 132 Improving EU securities market transparency and infrastructure ......................................................................................... 136 How to address CCP outstanding issues? ..................................................................................................................................... 142 V. NEW TECHNOLOGIES AND PAYMENTS How to support effective digitalisation of EU finance and ensure sufficient technological sovereignty? ................. 150 Is the EU policy approach on cloud and data up to the digital challenges? ....................................................................... 158 Will AI be a game changer in the financial sector and under what conditions ................................................................. 164 Key success factors for delivering an effective and viable retail payments area .............................................................. 166 Does the EU need to build its own payment system? ............................................................................................................... 171 VI. ESG AND SUSTAINABLE INVESTMENT Have the prospects of global and EU ESG policies changed with the Covid crisis? ......................................................... 178 Will tackling climate risk still be a major priority post-Covid? ............................................................................................... 186 Sustainability disclosures ................................................................................................................................................................. 190 Challenging times for the EU and its financial industry The Eurofi Berlin event and the publication of this Magazine are taking place at a particularly challenging time, since the pandemic is not over in the world and in Europe. The way forward to address the COVID-19 economic crisis and the “Next Generation EU“ recovery plan proposed by the EU will provide major topics of discussion during the Eurofi Berlin event.The move towards fiscal cohesion and solidarity is real and reassuring. But money alone will not ensure recovery. Investment and national reforms are also essential components for a green and innovative Europe. One particular challenge at this point in time, beyond recovery, is to relaunch productive investment and sustainable growth in the EU. Real Gross Domestic Product growth and productivity gains in the euro area have failed to catch up with US, China and Japan over the past two decades and the pandemic crisis further increases investment needs. We have to invest in an innovative and carbon neutral Europe. However, lasting low interest rates develop preference for liquidity over productive investment. The main economic and financial threats at the EU level in the wake of the Covid-19 pandemic are another challenge. So far, potential risks to global and European financial stability remain under control but we are not out of rough waters. At the top of the list of threats lie high levels of public and private debt in a number of Member States. Central banks played a crucial role in stabilizing the financial system. But monetary policy and money creation cannot do everything and cannot solve the problems arising from excessive debt. In addition, pushing too hard and too long on the monetary pedal generates financial vulnerabilities, leads to serious distortions and eventually creates the conditions for future crises. To solve the problems arising from excessive debt, governments must stand ready to take corrective action in order to ensure a path towards primary fiscal balances consistent with fiscal sustainability. Moreover, if Europe wants to provide citizens, businesses and society at large with the tools to turn current challenges into opportunities, the EU needs a vibrant single market for financial services. Throughout the crisis, the EU banking sector has proved to be part of the solution to the crisis but the economic fallout will be a further challenge for the sector and will put additional pressure onto a European financial system which was already facing headwinds (negative interest rates…) and structural challenges (digitalisation…). In such a context, full implementation of Banking Union, without any fragmentation, making the Capital Markets Union a reality, increasing the digitalisation of the EU financial sector and maintaining the diversity of the banking sector are key priorities for ensuring an effective funding of the economy and enhancing EU financial sovereignty. How to address these different challenges will be at the centre of the discussions of the Berlin event, as well as key on-going trends such as ESG and digitalisation. In preparation for this, the Eurofi secretariat has prepared
Load more

Recommended publications
  • Green Deal – the Coordinators
    Green Deal – The Coordinators David Sassoli S&D ”I want the European Green Deal to become Europe’s hallmark. At the heart of it is our commitment to becoming the world’s first climate-neutral continent. It is also a long-term economic imperative: those who act first European Parliament and fastest will be the ones who grasp the opportunities from the ecological transition. I want Europe to be 1 February 2020 – H1 2024 the front-runner. I want Europe to be the exporter of knowledge, technologies and best practice.” — Ursula von der Leyen Lorenzo Mannelli Klaus Welle President of the European Commission Head of Cabinet Secretary General Chairs and Vice-Chairs Political Group Coordinators EPP S&D EPP S&D Renew ID Europe ENVI Renew Committee on Europe Dan-Ştefan Motreanu César Luena Peter Liese Jytte Guteland Nils Torvalds Silvia Sardone Vice-Chair Vice-Chair Coordinator Coordinator Coordinator Coordinator the Environment, Public Health Greens/EFA GUE/NGL Greens/EFA ECR GUE/NGL and Food Safety Pacal Canfin Chair Bas Eickhout Anja Hazekamp Bas Eickhout Alexandr Vondra Silvia Modig Vice-Chair Vice-Chair Coordinator Coordinator Coordinator S&D S&D EPP S&D Renew ID Europe EPP ITRE Patrizia Toia Lina Gálvez Muñoz Christian Ehler Dan Nica Martina Dlabajová Paolo Borchia Committee on Vice-Chair Vice-Chair Coordinator Coordinator Coordinator Coordinator Industry, Research Renew ECR Greens/EFA ECR GUE/NGL and Energy Cristian Bușoi Europe Chair Morten Petersen Zdzisław Krasnodębski Ville Niinistö Zdzisław Krasnodębski Marisa Matias Vice-Chair Vice-Chair
    [Show full text]
  • Mr Josep Borrell Vice-President of the European Commission High Representative of the Union for the CFSP Rue De La Loi 170 1000 Brussels
    Mr Josep Borrell Vice-President of the European Commission High Representative of the Union for the CFSP Rue de la Loi 170 1000 Brussels Brussels, 16th April 2021 Dear Mr. High Representative; Mr Vice-President of the Commission: A delegation from the illegitimate National Assembly of the Bolivarian Republic of Venezuela, which emerged from the electoral farce organised on 6th December 2020 by the regime of Nicolás Maduro, recently paid a visit to Brussels and was officially received by the institution you lead. According to a statement you made on behalf of the European Union on 6th December, this spurious process took place in the absence of electoral conditions that could have guaranteed its credibility, without any respect for political pluralism, and in an atmosphere of persecution and disqualification of democratic leaders whose legitimate rights were curtailed. Your statement concludes that such circumstances could not consider this process credible, inclusive, and transparent and therefore the results did not represent the will of the Venezuelan people. That initial statement was confirmed on 6 January of this year by a new declaration, in similar terms to those expressed on 6 December, and by the conclusions of the Foreign Affairs Council of 25 January. These reiterated the lack of recognition of the electoral process and regretted the behaviour of the authorities of the Maduro regime, whose actions are preventing a solution to the serious crisis in Venezuela. We were surprised and gravely concerned to learn that on 14th April, at your request, senior officials of the European External Action Service received the aforementioned delegation, comprising Iris Varela, Pedro Carreño and Desirée Santos Amaral, at the EEAS headquarters.
    [Show full text]
  • Choose Europe! Join for the Opening of the New European Parliament!
    CHOOSE EUROPE! JOIN FOR THE OPENING OF THE NEW EUROPEAN PARLIAMENT! 1st of July 2019 | Strasbourg, France Citizens’ Agora European Youth Centre Strasbourg 30, rue Pierre de Coubertin, 67000 A new Parliament for a new Europe European Parliamentary Association 76 Allée de la Robertsau, 67000 2nd of July 2019 | Strasbourg, France Rally In front of the European Parliament 1 Avenue du Président Robert Schuman INTRODUCTION We have a newly elected Europe Parliament. It should become the front-runner in promoting a new Europe. Join us in Strasbourg for the opening session on 1-2 July to voice our demands for a more democratic, more social, more federal - a sovereign Europe! We are organising a 2 days bus trip from Brussels. The European Union has been “at a critical junction” for far too long. Radical reforms of the Euro, unity on security and defence, European democracy are urgently needed. Meanwhile Brexit looms, nationalism is on the rise, and citizens are puzzled on what Europe brings and where it is heading to. The next term of the European Parliament will be crucial to put Europe on a new course. The history of the European Union is one of citizens gathering and calling on elected leaders for more decisive steps towards political unity for the European people. Join us in Strasbourg to show that citizens support a federal Europe and engage with federalist members of the European Parliament on how to promote federalist goals in the newly elected Parliament. EU national leaders have failed us. European integration by intergovernmental cooperation has the EU stuck in a status quo that could well be its downfall.
    [Show full text]
  • Association of Accredited Lobbyists to the European Parliament
    ASSOCIATION OF ACCREDITED LOBBYISTS TO THE EUROPEAN PARLIAMENT OVERVIEW OF EUROPEAN PARLIAMENT FORUMS AALEP Secretariat Date: October 2007 Avenue Milcamps 19 B-1030 Brussels Tel: 32 2 735 93 39 E-mail: [email protected] Website: www.lobby-network.eu TABLE OF CONTENTS Introduction………………………………………………………………..3 Executive Summary……………………………………………………….4-7 1. European Energy Forum (EEF)………………………………………..8-16 2. European Internet Forum (EIF)………………………………………..17-27 3. European Parliament Ceramics Forum (EPCF………………………...28-29 4. European Parliamentary Financial Services Forum (EPFSF)…………30-36 5. European Parliament Life Sciences Circle (ELSC)……………………37 6. Forum for Automobile and Society (FAS)…………………………….38-43 7. Forum for the Future of Nuclear Energy (FFNE)……………………..44 8. Forum in the European Parliament for Construction (FOCOPE)……..45-46 9. Pharmaceutical Forum…………………………………………………48-60 10.The Kangaroo Group…………………………………………………..61-70 11.Transatlantic Policy Network (TPN)…………………………………..71-79 Conclusions………………………………………………………………..80 Index of Listed Companies………………………………………………..81-90 Index of Listed MEPs……………………………………………………..91-96 Most Active MEPs participating in Business Forums…………………….97 2 INTRODUCTION Businessmen long for certainty. They long to know what the decision-makers are thinking, so they can plan ahead. They yearn to be in the loop, to have the drop on things. It is the genius of the lobbyists and the consultants to understand this need, and to satisfy it in the most imaginative way. Business forums are vehicles for forging links and maintain a dialogue with business, industrial and trade organisations. They allow the discussions of general and pre-legislative issues in a different context from lobbying contacts about specific matters. They provide an opportunity to get Members of the European Parliament and other decision-makers from the European institutions together with various business sectors.
    [Show full text]
  • En En Amendments 1
    European Parliament 2019-2024 Committee on Economic and Monetary Affairs 2020/2075(INI) 23.4.2021 AMENDMENTS 1 - 466 Draft report Margarida Marques (PE689.500v01-00) The review of the macroeconomic legislative framework for a better impact on Europe’s real economy and improved transparency of decision-making and democratic accountability (2020/2075(INI)) AM\1229373EN.docx PE691.374v01-00 EN United in diversityEN AM_Com_NonLegReport PE691.374v01-00 2/224 AM\1229373EN.docx EN Amendment 1 Markus Ferber, Ralf Seekatz, Jessica Polfjärd, Isabel Benjumea Benjumea, Esther de Lange, Danuta Maria Hübner, Luděk Niedermayer Motion for a resolution Citation 2 Motion for a resolution Amendment — having regard to the Treaty on — having regard to Article 2 of the European Union, signed in Maastricht on Treaty on European Union, 7 February 1992, establishing in Article 2 that ‘The Community shall have as its task, by establishing a common market and an economic and monetary union and by implementing the common policies or activities referred to in Articles 3 and 3a, to promote throughout the Community a harmonious and balanced development of economic activities, sustainable and non-inflationary growth respecting the environment, a high degree of convergence of economic performance, a high level of employment and of social protection, the raising of the standard of living and quality of life, and economic and social cohesion and solidarity among Member States’, Or. en Amendment 2 Luděk Niedermayer Motion for a resolution Citation 2 Motion for a resolution
    [Show full text]
  • Strengthening Transatlantic Dialogue 2019 Annual Report Making Table of an Impact Contents
    STRENGTHENING TRANSATLANTIC DIALOGUE 2019 ANNUAL REPORT MAKING TABLE OF AN IMPACT CONTENTS THE AMERICAN COUNCIL 01 A Message from the President ON GERMANY WAS INCORPORATED IN 1952 POLICY PROGRAMS in New York as a private, nonpartisan 02 2019 Event Highlights nonprofit organization to promote 05 German-American Conference reconciliation and understanding between Germans and Americans 06 Eric M. Warburg Chapters in the aftermath of World War II. 08 Deutschlandjahr USA 2018/2019 PROGRAMS FOR THE SUCCESSOR GENERATION THE ACG HELD MORE THAN 140 EVENTS IN 2019, 10 American-German Young Leaders Program addressing topics from security 13 Fellowships policy to trade relations and from 14 Study Tours technology to urban development. PARTNERS IN PROMOTING TRANSATLANTIC COOPERATION SINCE THEIR INCEPTION 16 John J. McCloy Awards Dinner IN 1992, THE NUMBER OF 18 Corporate Membership Program ERIC M. WARBURG Corporate and Foundation Support CHAPTERS HAS GROWN TO 22 IN 18 STATES. 19 Co-Sponsors and Collaborating Organizations In 2019, the ACG also was Individual Support active in more than 15 additional communities. ABOUT THE ACG 20 The ACG and Its Mission 21 Officers, Directors, and Staff MORE THAN 100 INDIVIDUALS PARTICIPATED IN AN IMMERSIVE EXCHANGE EXPERIENCE through programs such as the American-German Young Leaders Conference, study tours, and fact-finding missions in 2019. More than 1,100 rising stars have VISION participated in the Young Leaders program since its launch in 1973. The American Council on Germany (ACG) is the leading U.S.-based forum for strengthening German-American relations. It delivers a deep MORE THAN 1,100 and nuanced understanding of why Germany INDIVIDUALS HAVE matters, because the only way to understand TRAVELED ACROSS THE ATLANTIC contemporary Europe is to understand Germany’s since 1976 to broaden their personal role within Europe and around the world.
    [Show full text]
  • TAXE COMMITTEE Special Committee on Tax Rulings and Other Measures Similar in Nature Or Effect
    TAXE COMMITTEE Special Committee on tax rulings and other measures similar in nature or effect Delegation visit to Ireland - Thursday 28 May Mission report Agenda 8.30-9.45 Meeting with stakeholders Irish Tax Institute, Martin Lambe, Chief Executive Revenue Commissioners: Niall Cody, Chairman of Revenue 10.00 - 11.00 Meeting with Michael Noonan TD, Minister of Finance 11.15 - 12.30 Meeting with members of Finance Committee of Irish Parliament (Oireachtas) Joint House-Senate Finance Committee: Dr Liam Twomey TD, Chair Brian Walsh TD Pat Rabbitte TD Richard Boyd Barrett TD Joint House-Senate European Affairs Committee Mr. Seán Kyne TD Ms. Kathryn Reilly, Senator 12.30 - 13.30 Working lunch Professor Frank Barry of Trinity College Dublin (TCD) Seamus Coffey of University College Cork (UCC) 13.30- 15.00 Further meetings with stakeholders Feargal O’Rourke, Head of Tax PWC Conor O’Brien, Head of Tax, KPMG Jim Clarken, CEO of Oxfam Ireland -Dr Micheál Collins, Nevin Economic Research Institute (NERI). Programme ends around 15.30 Interpretation : EN, FR 2 TAXE COMMITTEE ad hoc Delegation to Dublin (Ireland) 28 May 2015 Final list of participants Members Alain LAMASSOURE, Chair Burkhard BALZ PPE Elisa FERREIRA S-D Michael THEURER ALDE Sven GIEGOLD Verts/ALE Marco VALLI EFDD Accompanying Members Brian HAYES PPE Marian HARKIN ALDE Peter SIMON S-D Hugues BAYET S-D Matt CARTHY GUE Political advisers Daniel KÖSTER PPE Stine LARSEN S-D Jami ARVOLA ECR Petra SOLLI ALDE Sinead NI TREABHAIR GUE Michael SCHMITT Verts/ALE Andrea CURRI EFDD Secretariat Massimo PALUMBO Head of Unit Marcus SCHEUREN Administrator EP Office in Ireland Francis JACOBS, Head of Office Press Officer Ronnie KORVER Interpreters Aoife KENNEDY (Team Leader) Lila GUHA Alexandra HAMBLING Zoran SARADJIC (technician) 3 1.
    [Show full text]
  • Special Report
    SPECIAL REPORT Key points for the 8th term of the European Parliament (2014-2019) Madrid, November 2014 BARCELONA BOGOTÁ BUENOS AIRES LIMA LISBOA MADRID MÉXICO PANAMÁ QUITO RIO J SÃO PAULO SANTIAGO STO DOMINGO KEY POINTS FOR THE 8TH TERM OF THE EUROPEAN PARLIAMENT (2014-2019) 1. THE EUROPEAN PARLIAMENT 1. THE EUROPEAN PARLIAMENT 2. THE LATEST ELECTION The European Parliament has, since its creation in 1962 in the 3. MAIN ISSUES IN THE context of the evolution of European integration, become the LEGISLATIVE AGENDA European Union (EU) Institution to have gained more power and 4. SPANISH DELEGATION relevance in the decision-making process of the Union. Indeed, over the years, it has gained increasingly important powers, legitimized 5. CONCLUSIONS and differentiated by the fact that it is the only EU Institution to be 6. APPENDIX 1: COMPETENCES elected by universal suffrage. 7. APPENDIX 2: CURRENT COMPOSITION OF THE It has evolved from being a mere advisory body to having the COMMITTEES power to co-legislate, together with the Council, in more than 85 legislative areas, exercising legislative powers as well as powers 8. APPENDIX 3: THE CURRENT of budgetary and political control. It also wields a considerable BUREAU OF THE EUROPEAN amount of political influence, and its competences include those PARLIAMENT of electing the President of the European Commission, vetoing the 9. APPENDIX 4: EUROPEAN appointment of the College, and even forcing the resignation of the PARLIAMENT DELEGATIONS entire Commission after a motion of no confidence. AUTHORS The official headquarters of the Parliament are in Strasbourg, where the main plenary sessions are held.
    [Show full text]
  • A Look at the New European Parliament Page 1 INTERNATIONAL TRADE COMMITTEE (INTA)
    THE NEW EUROPEAN PARLIAMENT KEY COMMITTEE COMPOSITION 31 JULY 2019 INTRODUCTION After several marathon sessions, the European Council agreed on the line-up for the EU “top jobs” on 2 July 2019. The deal, which notably saw German Defence Minister Ursula von der Leyen (CDU, EPP) surprisingly designated as the next European Commission (EC) President, meant that the European Parliament (EP) could proceed with the election of its own leadership on 3 July. The EPP and Renew Europe (formerly ALDE) groups, in line with the agreement, did not present candidates for the EP President. As such, the vote pitted the S&D’s David-Maria Sassoli (IT) against two former Spitzenkandidaten – Ska Keller (DE) of the Greens and Jan Zahradil (CZ) of the ACRE/ECR, alongside placeholder candidate Sira Rego (ES) of GUE. Sassoli was elected President for the first half of the 2019 – 2024 mandate, while the EPP (presumably EPP Spitzenkandidat Manfred Weber) would take the reins from January 2022. The vote was largely seen as a formality and a demonstration of the three largest Groups’ capacity to govern. However, Zahradil received almost 100 votes (more than the total votes of the ECR group), and Keller received almost twice as many votes as there are Greens/EFA MEPs. This forced a second round in which Sassoli was narrowly elected with just 11 more than the necessary simple majority. Close to 12% of MEPs did not cast a ballot. MEPs also elected 14 Vice-Presidents (VPs): Mairead McGuinness (EPP, IE), Pedro Silva Pereira (S&D, PT), Rainer Wieland (EPP, DE), Katarina Barley (S&D, DE), Othmar Karas (EPP, AT), Ewa Kopacz (EPP, PL), Klara Dobrev (S&D, HU), Dita Charanzová (RE, CZ), Nicola Beer (RE, DE), Lívia Járóka (EPP, HU) and Heidi Hautala (Greens/EFA, FI) were elected in the first ballot, while Marcel Kolaja (Greens/EFA, CZ), Dimitrios Papadimoulis (GUE/NGL, EL) and Fabio Massimo Castaldo (NI, IT) needed the second round.
    [Show full text]
  • Europa Stärken Heißt Deutschland Stärken! Deutschland Heißt Stärken Europa
    Europa stärken heißt Deutschland stärken! Deutschland heißt stärken Europa 1 2 Europa stärken heißt Deutschland stärken Die europäische Politik steht heute mehr denn je im Zentrum des öffentlichen Interesses in Deutschland. Die großen Herausforderungen unserer Zeit – die kriegeri- schen Konflikte in unseren Nachbarregionen, die Migra- tionsbewegungen und der Kampf gegen Islamismus und Terrorismus – lassen sich nicht mehr national lösen. Nur gemeinsam mit unseren europäischen Partnern können wir tragfähige Lösungen erarbeiten und die Errungenschaften der europäischen Einigung – Frieden, Freiheit, Sicherheit und wirtschaftlicher Wohlstand – erhalten. Das Auftreten populistischer, europafeindlicher Parteien und der von Großbritannien angestrebte Austritt aus der EU dürfen nicht darüber hinwegtäuschen, dass die überwältigende Mehrheit der Deutschen wie der Euro- päer von der Notwendigkeit der europäischen Einigung überzeugt ist. Dieses Vertrauen gilt es durch sachge- rechte politische Lösungen auf allen Ebenen zu stärken. Wir arbeiten daher nachhaltig für sichere EU-Außen- grenzen, eine dauerhafte Reduktion der Migrations- ströme nach Europa, eine stabile europäische Währung, solide Staatshaushalte, einen funktionierenden Binnen- markt, Wirtschaftswachstum und Arbeitsplätze, innere und äußere Sicherheit sowie die Bewahrung der Schöp- fung. All dies können wir nur gemeinsam mit unseren europäischen Partnern erreichen und dauerhaft sichern, im Interesse Deutschlands und Europas! Diese Broschüre bietet Ihnen einen Überblick über die Arbeit und
    [Show full text]
  • Uef-Spinelli Group
    UEF-SPINELLI GROUP MANIFESTO 9 MAY 2021 At watershed moments in history, communities need to adapt their institutions to avoid sliding into irreversible decline, thus equipping themselves to govern new circumstances. After the end of the Cold War the European Union, with the creation of the monetary Union, took a first crucial step towards adapting its institutions; but it was unable to agree on a true fiscal and social policy for the Euro. Later, the Lisbon Treaty strengthened the legislative role of the European Parliament, but again failed to create a strong economic and political union in order to complete the Euro. Resulting from that, the EU was not equipped to react effectively to the first major challenges and crises of the XXI century: the financial crash of 2008, the migration flows of 2015- 2016, the rise of national populism, and the 2016 Brexit referendum. This failure also resulted in a strengthening of the role of national governments — as shown, for example, by the current excessive concentration of power within the European Council, whose actions are blocked by opposing national vetoes —, and in the EU’s chronic inability to develop a common foreign policy capable of promoting Europe’s common strategic interests. Now, however, the tune has changed. In the face of an unprecedented public health crisis and the corresponding collapse of its economies, Europe has reacted with unity and resolve, indicating the way forward for the future of European integration: it laid the foundations by starting with an unprecedented common vaccination strategy, for a “Europe of Health”, and unveiled a recovery plan which will be financed by shared borrowing and repaid by revenue from new EU taxes levied on the digital and financial giants and on polluting industries.
    [Show full text]
  • Europe's Resource Grab Vested Interests at Work in the European Parliament
    Europe's Resource Grab Vested interests at work in the European Parliament Corporate Europe Observatory, 27 June 2011 On 30 June, the European Parliament’s industry, energy and research committee (ITRE) is due to vote on the EU’s Raw Materials Initiative, establishing guidelines for Europe's future policy on natural resource use. The Parliament’s report could effectively give the green light to mining in protected European nature reserves as well as a resource grab in Asia, Africa, the Americas and the Arctic. The vote follows fierce calls from a number of MEPs with close links to industry for European big business to be allowed to exploit other countries’ raw materials without any restrictions – via trade, development and even military policies. MEPs have also tried to block strong language in the report on the need to stop corporate abuse in the extraction sector and to reduce Europe’s over- consumption of raw materials. Several of the MEPs pushing this aggressive agenda are from the European People’s Party (EPP) and have close links to industry sectors which have a vested interest in the raw materials debate (Bendt Bendtsen – Denmark; Herbert Reul and Daniel Caspary – Germany). Others such as Paul Rübig MEP (EPP, Austria) seem to have clear conflicts of interest1. Rübig profits from companies which depend heavily on the access to cheap raw materials. He also has close connections with industry lobby groups which have tried to shape the EU’s Raw Materials Initiative. Nonetheless, Rübig is one of the lead persons in the debate in Parliament and has set up a cross-party group of MEPs, the European Raw Materials Group, which will follow the issue, working closely with a parallel industry group.
    [Show full text]