SGI Europe calls for raising the level of ambition on the vision for EU Growth Model and fiscal guidance for 2023

On Wednesday 2 March 2022, the European Commission presented its Communication on the European Growth Model and its fiscal policy guidance for 2023. Those communications set out the fundamental principles guiding the upcoming assessment of Member States' stability and convergence programmes in the context of Russia's invasion of Ukraine. They also present the European Commission's vision for a new EU Growth Model, addressing the green and digital transition and socio-economic resilience.

Commenting on those communications, Valeria Ronzitti, SGI Europe General Secretary, said:

"Navigating through foundational crises, the EU needs now, more than ever, to show its ambition and unity. The geopolitical challenge, and the war ongoing on our doorstep, should lead to bold and decisive steps to enhance our green and digital growth, as well as our strategic autonomy and independence."

"The new growth model envisioned must rely on multiple pillars, beyond the internal market and private investments as main ingredients. In the past, this recipe proved insufficient, and the current situation does not leave any room for error. Falling short of the ambitions could lead to dramatic consequences."

"Together with the RRF, the promotion of high-quality public investment is essential to face the green and digital transition, whilst boosting our defence capabilities and strategic autonomy. Those investments must remain amongst our key policy objectives in the medium and long-term."

"Discussions and decisions on a new economic growth model need to be framed within the EU support to Ukraine, the need to manage the consequences of this unprecedented crisis and guarantee the protection of EU citizens, enterprises and workers. The informal summit in Versailles on 10-11 March shall be the moment to raise the level of ambition and showcase unity in our response to external threats, whilst protecting the security, well-being and prosperity of the EU."

(Photo: European Union, 2022. Source: EC - Audiovisual Service)