Summary
A roadmap for creating a Eurozone fiscal capacity to absorb economic shocks and promote convergence. 10 16.02.2017
Other
economy
taxation
government
social policy
european union
administrative reform
legislative procedure
international relations
public finance and budget policy
employment and working conditions
Key points
- The resolution proposes the creation of a specific budgetary capacity for the Eurozone to complement the existing European Stability Mechanism.
- A new 'convergence code' is suggested to encourage structural reforms in areas like taxation, labor markets, and productivity.
- The fiscal capacity should be able to address both economic events affecting single countries and those affecting the entire Eurozone.
- The proposal calls for strengthening democratic oversight by increasing the power of the European Parliament and national parliaments.
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