{"id":2697,"date":"2019-06-26T11:24:10","date_gmt":"2019-06-26T09:24:10","guid":{"rendered":"http:\/\/weekly.uhm.org.mt\/?post_type=article&p=2697"},"modified":"2019-06-26T11:36:03","modified_gmt":"2019-06-26T09:36:03","slug":"il-eesc-jishaq-dwar-aktar-konvergenza-ekonomika","status":"publish","type":"article","link":"http:\/\/weekly.uhm.org.mt\/en\/article\/il-eesc-jishaq-dwar-aktar-konvergenza-ekonomika\/","title":{"rendered":"EESC calls for economic convergence"},"content":{"rendered":"

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\u00a0\u201cThe European Economic\u00a0<\/span>and\u00a0<\/span>Social Committee (EESC)<\/span>\u00a0<\/span>is<\/span>\u00a0encouraging the European Union to double its efforts to ensure better social cohesion and economic convergence across the Union.\u201d<\/span>\u00a0<\/span><\/p>\n

This was one of the recomme<\/span>ndations and conclusions that was<\/span>\u00a0presented in the opinion of the EESC<\/span>\u00a0of which\u00a0<\/span>Dr. Philip von Brockdorff,\u00a0<\/span>the representative of the\u00a0<\/span>U\u0126M\u00a0<\/span>Voice of the Workers\u00a0<\/span><\/i>at the\u00a0<\/span>EESC<\/span>, was the rapporteur.<\/span>\u00a0<\/span><\/p>\n

In the opinion, entitled\u00a0<\/span>Towards<\/span><\/i>\u00a0a stronger international role of the euro<\/span><\/i>, Dr. von Brockdorff\u00a0<\/span>together with\u00a0<\/span>co-rapporteur<\/span>\u00a0Dimitris Dimitriadis,<\/span>\u00a0said that the euro has not recovered the international role it played prior to the financial crisis.<\/span>\u00a0<\/span><\/p>\n

They said that social cohesion,\u00a0<\/span>increased\u00a0<\/span>economic convergence and the promotion of\u00a0<\/span>competitivity<\/span>\u00a0and innovation, particularly for small and medium enterprises, should be the basis on\u00a0<\/span>which the euro economic zone should progress and ensure a strengthened international role.<\/span>\u00a0<\/span><\/p>\n

The EESC<\/span>\u00a0claims that\u00a0<\/span>key<\/span>\u00a0differences among the member states as well as within the member states\u00a0<\/span>remain and this is hindering them from making the most of the economic opportunities that could benefit the EU as a whole.<\/span>\u00a0<\/span><\/p>\n

The EESC<\/span>\u00a0appeals for caution and says that<\/span>\u00a0technological developments such as\u00a0<\/span>Fintech<\/span>\u00a0and digitalisation as well as other international currencies long term can create systems that are based on more than one currency.<\/span>\u00a0<\/span><\/p>\n

The European Economic and Social Committee<\/span>\u00a0<\/span>believes<\/span>\u00a0that the euro has the ability to\u00a0<\/span>raise its international profile. At the same time, however, the EESC suggests that the main priority of the euro zone should be, first and foremost, to get its internal situation in order and to achieve integrity and prosperity by improving the way it looks at development and by strengthening the sustainability of public finances. This process, which requires the willingness of the Economic and Monetary Union and the banking union, should be a priority in achieving\u00a0<\/span>a<\/span>\u00a0stronger international role for the euro.<\/span>\u00a0<\/span><\/p>\n

The credibility of the sole European currency,\u00a0<\/span>which<\/span>\u00a0is a prerequisite\u00a0<\/span>if the international\u00a0<\/span>role of the euro<\/span>\u00a0is to be strengthened, requires further fiscal policy\u00a0<\/span>action\u00a0<\/span>and\u00a0<\/span>policies aimed at\u00a0<\/span>national growth\u00a0<\/span>as well as efforts to better the financial sector. In this context, the EESC continues to speak about the relevance of supporting SMEs and increasing productivity as a means of strengthening the\u00a0<\/span>competitivity<\/span>\u00a0of the euro zone in international markets.<\/span>\u00a0<\/span><\/p>\n

The rapporteurs of this opinion<\/span>\u00a0add that the road to a stronger international role for the euro can be facilitated by the E<\/span>uropean Central Bank, firstly through its implementation of its mandate to stabilise pricing in the euro zone. The support of the European Central Bank of macro-economic policies as well as an Economic Monetary Union and a Capital Markets\u00a0<\/span>Union\u00a0 can<\/span>\u00a0push the international role of the euro.<\/span>\u00a0<\/span><\/p>\n

Finally, the EESC encourages member states to make a more united stand in international diplomacy. A more united front could be created through more productive efforts to promote the interests of the EU, especially when it comes to anticipating strategic and diplomatic initiatives from China and the U.S.<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

  \u00a0\u201cThe European Economic\u00a0and\u00a0Social Committee (EESC)\u00a0is\u00a0encouraging the European Union to double its efforts to ensure better social cohesion and economic convergence across the Union.\u201d\u00a0 This was one of the recommendations […]<\/p>\n","protected":false},"author":4,"featured_media":2692,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_mi_skip_tracking":false,"spay_email":""},"issuem_issue":[116],"issuem_issue_categories":[9],"issuem_issue_tags":[],"translation":{"provider":"WPGlobus","version":"2.8.8","language":"en","enabled_languages":["mt","en"],"languages":{"mt":{"title":true,"content":true,"excerpt":false},"en":{"title":true,"content":true,"excerpt":false}}},"_links":{"self":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/2697"}],"collection":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article"}],"about":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/types\/article"}],"author":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/comments?post=2697"}],"version-history":[{"count":3,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/2697\/revisions"}],"predecessor-version":[{"id":2699,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/2697\/revisions\/2699"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/media\/2692"}],"wp:attachment":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/media?parent=2697"}],"wp:term":[{"taxonomy":"issuem_issue","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue?post=2697"},{"taxonomy":"issuem_issue_categories","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue_categories?post=2697"},{"taxonomy":"issuem_issue_tags","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue_tags?post=2697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}