MEDPOL: SGI Europe calls for a new impetus on investments to strengthen the EU’s economic base

On Monday 13 May 2024, SGI Europe addressed the meeting of the Macro-Economic Dialogue at Political Level (MEDPOL). The meeting brought together, amongst others, Vincent van Peteghem (Deputy Prime Minister and Minister of Finance, Belgium), Valdis Dombrovskis (Executive Vice-President, European Commission), Paschal Donohoe (Eurogroup President), Luis de Guindos (Vice-President, ECB), and social partners, with a focus on the challenges and opportunities of strengthening the EU’s economic base.

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

“We must urgently remedy structural shortages of qualified labour, which have prompted many enterprises to hoard labour. In line with the recommendations from the Letta Report, the Single Market must be a key instrument to respond to those skills and labour shortages.“

“Since the sovereign debt crisis, EU public investment has been weaker than in the US. Addressing the investment challenge must be the first priority for the EU to maintain its leadership on the global stage. A strategic use of private and public resources, combined with the delivery of key EU Public Goods, will be needed to develop a competitive ‘All-industry strategy’ to counteract the instruments recently put in place by other global actors.”

“While the new EU economic governance framework includes new sustainability and deficit resilience safeguards, SGI Europe calls on Member States to make smart use of the new rules and to not sacrifice public investments that enhance productivity, such as social investments in childcare, education and training.”