MEDPOL: Member States must consult social partners in the implementation of the new EU economic governance

On Monday 4 November 2024, SGI Europe addressed the meeting of the Macro-Economic Dialogue at Political Level (MEDPOL). The meeting brought together, amongst others, Mihály Varga (Minister of Finance, Hungary), Valdis Dombrovskis (Executive Vice-President, European Commission), Paschal Donohoe (President, Eurogroup), Christine Lagarde (President, ECB), and social partners, with a focus on the economic outlook and the impact of demographic change on competitiveness.

On this occasion, Valeria Ronzitti, SGI Europe General Secretary, said:

“The EU has a historic responsibility to turn the current challenges into opportunities. It will require decisive action at both the national and European levels. Fiscal and structural policies must make our economy more productive, competitive and resilient.”

“Along the digital and green transition, a key challenge will be to mitigate the impact of demographic ageing on our competitiveness. Longer life expectancy and a declining birthrate will threaten the sustainability of European welfare systems and public finances.”

“Future investments must not suffer from expanding national budgets related to ageing. This dilemma must be solved as Member States prepare their medium-term fiscal structural plans. In that context, SGI Europe, together with ETUC and SMEunited, issued a joint statement calling for effective social partner consultations in implementing the new EU economic governance, as the essential balancing acts involving investment and social welfare cannot be addressed without social partners’ input. We particularly welcome the willingness shown by Executive Vice-President Dombrovskis to take up this concern and better involve social partners.”

“Finally, we call on Member States to make swift progress to complete the Single Market, with the Capitals Market Union as a way to unlock the full investment potential of the EU.”