Albane DEMBLANS Secretariat-General of the European Commission

Transcription

1 Albane DEMBLANS Secretariat-General of the European Commission European Economic and Social Committee 1 June 2016

2 Economic and social context European Semester 2016

3 Economic and social context A moderate and fragile economic expansion A challenging context Global growth has slowed down Rebounding oil prices Appreciation of the euro Supportive policy mix in the euro area Favourable conditions for a rebound in investment Labour market conditions continue to improve Social conditions: improving gradually; still far from pre-crisis level in many Member States

4 Institutional context Streamlining: focus on key macro-relevant and social issues Ownership: Strengthened dialogue with the European Parliament and national Parliaments/stakeholders (social partners and more); European Semester visits to MS Better integration of the global (EU/euro-area) and national dimensions Stronger social dimension Completing EMU a successful European Semester is part of stage 1

5 The 2016 CSRs: content and process

6 The 2016 European Semester

7 Content of the package Overarching Communication: narrative, approach to CSRs, overview CSRs for 27 Member States (all except Greece) Decisions under the Stability and Growth Pact Thematic fiches have been published at the same time as the package

8 The approach of the 2016 CSRs (1) The 2016 country-specific recommendations are focused and streamlined Only key priority issues of macro-economic and social relevance Reflecting the degree of macroeconomic imbalances Actions to be taken within 12 to 18 months Reduced number of recommendations

9 The approach of the 2016 CSRs (2) The 2016 CSRs reflect the priorities on the Commission's economic and social agenda Removing barriers to financing and supporting public and private investment Improving the business environment and productivity Adapting public finances to make them more supportive of growth Improving employment, human capital, social inclusion and protection and take into account the recommendations for the euro area

10 A tailored response to the country-specific policy challenges Challenges High private and public debt External adjustment and competitiveness Unemployment and the social impact of the crisis Low growth potential Financial stability and credit provision Policy response by MS, in line with the AGS priorities Reform public administrations, labour and product markets, education/skills Address barriers to investment and business activity Fiscal sustainability and quality of public finances 10

11 Policy areas AT BE BG CY CZ DE DK EE ES FI FR HR HU IE IT LT LU LV MT NL PL PT RO SE SI SK UK Fiscal policy & fiscal governance Long-term sustainability of public finances, inc. pensions Reduce the tax burden on labour Broaden tax bases Reduce the debt bias Fight against tax evasion, improve tax administration & tackle tax avoidance Financial services Housing market Access to finance Private indebtedness Employment protection legislation & framework for labour contracts Unemployment benefits Active labour market policies Incentives to work, job creation, labour market participation Wages & wage setting Childcare Health & long-term care Poverty reduction & social inclusion Education Skills & life-long learning Research & innovation Competition & regulatory framework Competition in services Telecom, postal services & local public services Energy, resources & climate change Transport Business environment Insolvency framework Public administration State-owned enterprises Civil justice Shadow economy & corruption Overview of the 2016 CSRs European Semester 2016

12 Economic governance decisions

13 Economic governance decisions Stability and Growth Pact Recommendations for EDP abrogations: CY, IE and SI Articles 126(3) reports: BE, FI and IT: compliance with the Stability and Growth Pact IT: new report in autumn Recommendation for a durable correction of the excessive deficit in 2016: PT Recommendation for a durable correction of the excessive deficit in 2017: ES PT and ES: new assessment in July Macroeconomic imbalances procedure: no need to step up the procedure at this stage for PT and HR

14 Next steps European Semester 2016

15 Next steps May-June 2016: discussion of the country-specific recommendations in the committees of the Council and in the relevant Council formations June 2016: endorsement of the country-specific recommendations by the European Council 12 July 2016: final approval of the country-specific recommendations by the Ecofin Council

16 Albane DEMBLANS Secretariat-General of the European Commission European Economic and Social Committee 1 June 2016