At its plenary session in July, the European Economic and Social Committee (EESC) presented proposals for the economic agenda of the upcoming legislative period (2019-2024) and recommended that they should form the basis of a new European economic strategy. The Committee’s proposals seek to develop more resilient and sustainable EU economic policies within an improved governance framework for the Economic and Monetary Union (EMU).
Update – the minutes of the meeting are available.
Agenda items include a debate on the state of play on own resources, an exchange of views on the presentation of the Presidency Work Programme, adoption of the Council Recommendation on the appointment of the President of the European Central Bank, adoption of the Country-Specific Recommendations for the European Semester, and information from the Netherlands delegation on aviation taxation and carbon pricing.
Details of future European Investment Bank and European Investment Fund activity in Ireland were outlined at a meeting of the EIB-Ireland Financing Group in Dublin earlier today between Irish Ministers, European Investment Bank Vice President Andrew McDowell and senior officials.
The recent case of Banco Popular has shown the importance of liquidity funding in the context of bank resolution. Ahead of the June Euro Summit, in a letter the President of the Euro group noted that in addition to the Single Resolution Fund (and its backstop) “work needs to continue on a possible framework for liquidity in resolution, including on the possible institutional framework”. This briefing (1) describes the existing arrangements in the Banking Union, (2) compares those arrangements with the US and the UK regimes and (3) echoes ongoing reflections on possible new arrangements along the lines of the US and UK regimes, with a view to completing the Banking Union.
Keynote speech by Luis de Guindos, Vice-President of the ECB, at the CIRSF Annual International Conference 2019 “Financial Supervision and Financial Stability Ten Years after the Crisis: Achievements and Next Steps”, Lisbon, 4 July 2019
The General Affairs Council (Art. 50) should prepare the European Council (Art. 50) on 17 or 18 October 2019.
The Council made this agenda public. It includes items on citizen rights and Ireland as well as international agreements and trade.
At their most recent meeting, EU Heads of State or Government postponed decisions on nominating a set of high-level EU appointments, including the position of President of the European Commission. EU leaders will now reconvene for a special meeting of the European Council on 30 June, with the aim of reaching an agreement on a package of candidates. On climate policy, the European Council did not achieve consensus on ensuring climate neutrality by 2050 either. Conversely, it adopted the strategic agenda for 2019-24, setting four priority areas that will guide the work of the EU institutions over the next five years. EU leaders also discussed a wide range of external relations issues, including the situation in eastern Ukraine and the Azov Sea, and reconfirmed economic sanctions on Russia.