EC WORK PROGRAM IN 2019
Submitted by christian on Wed, 12/26/2018 - 13:52
The key areas of focus for 2019 will be: completing the work in the area of migration; reinforcing the Economic and Monetary Union; addressing increasing tensions in the global trading system; tackling continued challenges to the Rule of Law in some member states; and finding an agreement with the UK on its withdrawal from the EU.
Financial Markets
Establishing a Capital Markets Union remains a top priority. The Commission emphasizes the need to reach an agreement on the pending proposals with regards to:
- The Sustainable Finance Package;
- Tools aiming to promote alternative sources of financing and to reduce barriers to cross-border investments, including proposals on crowdfunding and covered bonds as well as those seeking to facilitate the cross-border distribution of investment funds and promote SME listing on public markets;
- The tasks, governance and financing of the European Supervisory Authorities (ESAs);
- The rules and supervision for investment firms;
- Amendments to the European Market Infrastructure Regulation; and
- Minimum loss coverage for nonperforming exposures, the pan-European Personal Pension Product as well as business insolvency, restructuring and second chance.
Economic and Monetary Union and Banking Union
- The budgetary instruments proposed under the Multiannual Financial Framework that will promote the European Stabilisation Function and the Reform Support Programme;
- The Banking Package which seeks to reduce risk in the banking sector;
- Proposals on sovereign bond-backed securities, the recovery and resolution of central counterparties and the European Monetary Fund; and
- Creating a common backstop to the Single Resolution Fund, progressing towards the European Deposit Insurance Scheme and strengthening the role of the European Stability Mechanism as a crisis management tool.
Money Laundering and the Rule of Law
- Enhancing the supervisory role of the European Banking Authority in the area of anti-money laundering, as a response to the recent serious revelations of money laundering in the EU financial sector; and
- Using financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences.
Future of Europe
- New initiatives, including a Reflection Paper on how to ensure a sustainable Europe by 2030
- A communication on strengthening the international role of the euro.
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