Czech Business Today

The European Semester kicks off its 2020 exercise with the publication of the Annual Sustainable Growth Strategy. In this document, the Commission outlines the economic and employment policy priorities for the EU.

Annual growth strategy for 2020 is based on the four key pillars that are the environment, productivity, stability and fairness.

• Environmental sustainability:

Our efforts should focus on leading the transition to a nature-friendly and climate neutral continent by 2050, while ensuring that everyone can take advantage of the opportunities that this will bring.

• Productivity gains:

By developing new technologies and sustainable solutions, Europe can be at the forefront of future economic growth and become a global leader in an increasingly digitalised world.

• Macro-economic stability:

The Union needs to complete its Economic and Monetary Union to ensure that all economic tools are ready and available should there be a significant adverse economic shock. The international role of the euro must be strengthened. A vibrant and resilient Economic and Monetary Union, resting on the solid foundations provided by the Banking Union and the Capital Markets Union, is the best means to increase financial stability in Europe.

• Fairness:

The new economic agenda must ensure that the transition is fair and inclusive and puts people first. It must pay particular attention to the regions, industries and workers who will have to make the largest transitions.

The EESC welcomes the inclusion of the United Nations’ 2030 Sustainable Development Goals in the Commission’s strategic vision for all economic and employment policies, contributing to a European social market economy that works for all and ensuring the sustainability, inclusiveness and competitiveness of growth. More robust single market governance infrastructure needs to be put in place at EU and national level, together with thorough administrative simplification, an ambitious process of digitalisation and intensive capacity-building initiatives for all stakeholders.

The EESC advocates new governance structures across a range of levels that can ensure the involvement of the local economy and civil society in designing and implementing fair measures that reflect the circumstances in which they operate.

Marie Zvolská,
Member of Group I – Employers