Strengthening Europe’s Economic and Financial Sovereignty
In “A Stronger Europe in the World”
On 29 January 2020, the European Commission's new work programme was published.
Under the fourth priority - 'A Stronger Europe in the World', the Commission announced its intention to adopt an overarching strategy for strengthening Europe’s Economic and Financial Sovereignty.
According to the January work programme, the strategy should be adopted in the third quarter of 2020. However, in the adjusted Commission work programme presented on 27 May 2020 this deadline was postponed until the fourth quarter of 2020.
On 19 January 2021, the Commission followed up on its commitment by presenting a new strategy aimed to better enable Europe to play a leading role in global economic governance, while protecting the EU from unfair and abusive practices. This proposed approach is based on three mutually reinforcing pillars:
- Promoting a stronger international role of the euro
- Further developing EU financial market infrastructures and improving their resilience
- Further promoting the uniform implementation and enforcement of the EU's own sanctions.
- European Commission, Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions - The European economic and financial system: fostering openness, strength and resilience, COM(2021) 32
Author: Carla Stamegna, Members' Research Service, firstname.lastname@example.org