26

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Statute for Social and Solidarity-based Enterprises

06-12-2017

Social enterprises combine societal goals with entrepreneurial spirit. These organisations focus on achieving wider social, environmental or community objectives. There is currently no specific European legal framework to help social enterprises to benefit from the internal market. Against this background, this European added value assessment identifies the challenges in the existing national legal frameworks regarding social enterprises. It argues that action at EU level would generate economic ...

Social enterprises combine societal goals with entrepreneurial spirit. These organisations focus on achieving wider social, environmental or community objectives. There is currently no specific European legal framework to help social enterprises to benefit from the internal market. Against this background, this European added value assessment identifies the challenges in the existing national legal frameworks regarding social enterprises. It argues that action at EU level would generate economic and social added value. Moreover, it outlines potential legislative measures that could be taken at EU level, and that could generate European added value through simplification and a coordinated approach in this area.

The OECD Interim Economic Outlook: Stronger collective fiscal policy needed

12-04-2016

According to the 2016 Interim Economic Outlook of the Organisation for Economic Co operation and Development (OECD), global GDP growth this year is projected to be the slowest in five years. The OECD has lowered its real GDP growth forecast for the euro area for 2016 from 1.8% to 1.4%, and for 2017 from 1.9% to 1.7%. While low inflation and prices are discouraging commodity exporters, low investment and demand have led to stagnation, stifling wage and employment developments. The OECD recommends ...

According to the 2016 Interim Economic Outlook of the Organisation for Economic Co operation and Development (OECD), global GDP growth this year is projected to be the slowest in five years. The OECD has lowered its real GDP growth forecast for the euro area for 2016 from 1.8% to 1.4%, and for 2017 from 1.9% to 1.7%. While low inflation and prices are discouraging commodity exporters, low investment and demand have led to stagnation, stifling wage and employment developments. The OECD recommends a stronger collective policy response in order to strengthen demand. While the impetus for structural reform has slowed in many countries, contractionary fiscal policy has gained new momentum. Monetary policy alone is considered to be insufficient. A sustainable mix of structural, monetary and fiscal policy measures must be deployed in order to boost GDP growth and counter deflationary tendencies. The policy mix, however, varies from country to country, as countries are being affected in different ways by the international economic crisis.

The Role of the European Central Bank in the Design and Implementation of Financial Measures in Crisis-Hit Countries

09-02-2016

What is the role of the European Central Bank (ECB) in the context of the so-called “Troika”? The ECB’s role within the Troika (the enhanced cooperation between the International Monetary Fund (IMF), the European Commission, and the ECB in euro-area programme countries) mainly consists of acting in liaison with the Commission and the IMF to assess economic policy conditions attached to the financial assistance in programme countries and of reviewing these conditions on a regular (usually quarterly ...

What is the role of the European Central Bank (ECB) in the context of the so-called “Troika”? The ECB’s role within the Troika (the enhanced cooperation between the International Monetary Fund (IMF), the European Commission, and the ECB in euro-area programme countries) mainly consists of acting in liaison with the Commission and the IMF to assess economic policy conditions attached to the financial assistance in programme countries and of reviewing these conditions on a regular (usually quarterly) basis. The ECB provides advice and expertise on a broad range of issues which are relevant for monetary policy and financial stability.

European Semester: 2015 priorities and beyond

22-10-2015

The European Semester is a key monitoring element of the EU's economic governance framework which aims to detect, prevent, and correct problematic economic trends such as excessive government deficits or public debt levels. As part of the annual evaluation cycle, the European Parliament's Economic and Monetary Affairs (ECON) Committee notes insufficient implementation of country-specific recommendations in some Member States, and expresses concerns that economic recovery may be threatened by the ...

The European Semester is a key monitoring element of the EU's economic governance framework which aims to detect, prevent, and correct problematic economic trends such as excessive government deficits or public debt levels. As part of the annual evaluation cycle, the European Parliament's Economic and Monetary Affairs (ECON) Committee notes insufficient implementation of country-specific recommendations in some Member States, and expresses concerns that economic recovery may be threatened by the EU's underlying structural weaknesses and regional differences. On 21 October 2015, the European Commission proposed to 'revamp' the European Semester process and to better align recommendations for the overall EU/euro area with those for individual Member States.

Employment and Social Developments in Greece

07-10-2015

This document presents employment and social developments in Greece up to 2015, by tracing the record of reforms and examining indicators since the years before the beginning of the crisis. In December 2014, the Greek crisis had decreased national income by 25%, compared to 2007. The postponement of necessary reforms was prominent among the causes of the crisis, and during the crisis the gaps in the social protection system delayed adjustments and worsened the impact of austerity measures. The reform ...

This document presents employment and social developments in Greece up to 2015, by tracing the record of reforms and examining indicators since the years before the beginning of the crisis. In December 2014, the Greek crisis had decreased national income by 25%, compared to 2007. The postponement of necessary reforms was prominent among the causes of the crisis, and during the crisis the gaps in the social protection system delayed adjustments and worsened the impact of austerity measures. The reform agenda was assigned a key role and institutional reforms, started in 2010, are still incomplete. Unemployment and poverty mostly hit younger people, for whom a system focused on pensions offers no help. The third bailout agreement involves the completion of the reform agenda and addresses criticisms expressed against earlier programmes. This document was requested by the EMPL Committee and provided by the Policy Department A and the Economic Governance Support unit.

Zunanji avtor

Platon TINIOS

Bail-out and reform: Context and next steps for Greece

17-07-2015

On 30 June 2015, Greece defaulted on an IMF loan. Due to lack of agreement between the Greek Government and the Eurogroup, the financial assistance programme from the European Financial Stability Facility expired on the same day. After tense negotiations during extraordinary summit meetings and the looming danger of Greece leaving the euro area, a preliminary agreement was finally reached on 13 July 2015. The heads of state or government of the euro area held an extraordinary Euro Summit meeting ...

On 30 June 2015, Greece defaulted on an IMF loan. Due to lack of agreement between the Greek Government and the Eurogroup, the financial assistance programme from the European Financial Stability Facility expired on the same day. After tense negotiations during extraordinary summit meetings and the looming danger of Greece leaving the euro area, a preliminary agreement was finally reached on 13 July 2015. The heads of state or government of the euro area held an extraordinary Euro Summit meeting on the financial situation in Greece. The agreement adopted unanimously provides a roadmap for further discussions and a potential third bail-out programme (ESM loan) for Greece of up to €86 billion for a period of three years. The envisaged new three-year assistance programme (July 2015 − July 2018) requires several conditions to be fulfilled by the Greek authorities. These include the transfer of 'valuable' Greek assets to an independent fund. This fund will monetise these assets (target: €50 billion) in order to help to recapitalise Greek banks (€25 billion), to reduce the debt to GDP ratio (€12.5 billion) and to be disbursed for investment (€12.5 billion). On 15 July 2015, the Greek Parliament adopted the first set of reform measures required. In addition, the consent of national parliaments in several euro area Member States has been, or is being, sought in order to pave the way for the third bail-out programme for Greece. The European Commission has proposed a bridging loan of €7 billion (using funds from the EFSM) to Greece, enabling it to repay its immediate obligations to the ECB and the IMF by 20 July.

Youth Unemployment in Greece: Situation before the Government Change

22-06-2015

This document, provided by Policy Department A at the request of the Employment and Social Affairs Committee, analyses the development of youth unemployment and of NEET youth (Neither in Employment, Education, Training) in Greece in a comparative perspective (Cyprus, Ireland, Portugal, Spain). It describes its specific features and gives an overview of national and European policy initiatives.

This document, provided by Policy Department A at the request of the Employment and Social Affairs Committee, analyses the development of youth unemployment and of NEET youth (Neither in Employment, Education, Training) in Greece in a comparative perspective (Cyprus, Ireland, Portugal, Spain). It describes its specific features and gives an overview of national and European policy initiatives.

Stability and Growth Pact: Implementation of the “comply or explain rule” (March 2015)

26-03-2015

In accordance with Regulation 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (Article 2ab) and in accordance with Regulation 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure (Article 2a), the Council is, as a rule, expected to follow the recommendations and proposals of the Commission or explain its position publicly ["comply or explain"]. This document presents recent developments ...

In accordance with Regulation 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (Article 2ab) and in accordance with Regulation 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure (Article 2a), the Council is, as a rule, expected to follow the recommendations and proposals of the Commission or explain its position publicly ["comply or explain"]. This document presents recent developments regarding the implementation of this rule, including the case of the recently revised recommendation to France under the Excessive Deficit Procedure (EDP).

The Impact of the Crisis on Fundamental Rights across Member States of the EU - Comparative Analysis

13-03-2015

Upon request by the LIBE Committee, this study presents a synthesis of studies conducted in seven Member States regarding the impact of financial and economic crises, and austerity measures imposed in response thereto, on fundamental rights of individuals. The Member States studied are: Belgium, Cyprus, Greece, Ireland, Italy, Spain and Portugal. The impact of measures is examined in relation to the rights to: education, healthcare, work, pension, access to justice, as well as freedom of expression ...

Upon request by the LIBE Committee, this study presents a synthesis of studies conducted in seven Member States regarding the impact of financial and economic crises, and austerity measures imposed in response thereto, on fundamental rights of individuals. The Member States studied are: Belgium, Cyprus, Greece, Ireland, Italy, Spain and Portugal. The impact of measures is examined in relation to the rights to: education, healthcare, work, pension, access to justice, as well as freedom of expression and assembly in all seven Member States, while a number of State-specific rights are also looked into, such as the right to housing, right to property or some rights at work. In addition, an overview is made of the mechanisms available for monitoring compliance with international human rights obligations. In view of the impacts recorded, recommendations are made for EU action to ensure respect for fundamental rights in times of austerity. The seven country studies are made available separately.

Zunanji avtor

Aleksandra Ivanković Tamamović (Milieu Ltd., Belgium)

The Impact of the Crisis on Fundamental Rights across Member States of the EU - Country Report on Greece

10-03-2015

Upon request by the LIBE Committee, this study looks into the impact of the economic crisis and the austerity measures which were introduced as a response thereto, to the enjoyment of a set of selected fundamental rights by individuals in Greece. It also contains recommendations on how to make sure that the enjoyment of these rights is ensured in the future.

Upon request by the LIBE Committee, this study looks into the impact of the economic crisis and the austerity measures which were introduced as a response thereto, to the enjoyment of a set of selected fundamental rights by individuals in Greece. It also contains recommendations on how to make sure that the enjoyment of these rights is ensured in the future.

Zunanji avtor

Styliani Kaltsouni, Athina Kosma (Milieu Ltd.) and Nikos Frangakis

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