Electrification is gaining momentum across many sectors, including transport, buildings and industry, driven by the EU's climate ambition and security of supply. As the cost of renewable energy technologies like solar and wind continues to fall, electrification presents an opportunity to reshape the European economy, enhancing competitiveness and promoting sustainable growth.

EPRS Science and Technology podcast - What if electrification transformed the EU economy?

Over the past 3.8 billion years, nature has been engineering itself to survive. It has also developed efficient and sustainable adaptation mechanisms against changing environmental conditions. To further the EU's political ambitions, could we employ biomimicry to mitigate climate change and achieve climate neutrality?

Science and Technology Podcast : What if nature taught us to adapt to climate change?

Nowadays, a wide range of key technologies across all industries, from chips to batteries, medical imaging to tanks, rely on the unique physical properties of some specific critical raw materials (CRMs). Demand for CRMs is projected to skyrocket in the coming years. However, as the transition to 'net-zero' and the digital age is particularly materials-intensive, it remains uncertain whether supply will keep up with the expected needs. The EU's ambition to become a climate-neutral economy by 2050, and its ability to sustain the green and digital transitions and achieve strategic autonomy, all rely heavily on reliable, secure and resilient access to CRMs.

Policy podcast : Securing Europe's supply of critical raw materials

For two decades, the EU has sought to modernise its preferential trade relationship with the sub-Saharan African, Caribbean and Pacific (ACP) countries and establish free trade areas with regional groupings under so-called economic partnership agreements (EPAs). These are free trade agreements that allow ACP countries to continue exporting their products to the EU duty free and quota free, while ensuring full compliance with World Trade Organization (WTO) rules. EU goods should also benefit gradually from full liberalisation, though with numerous exceptions related to goods ACP countries wish to protect from external competition, particularly agricultural products.

EPRS policy podcast - EU economic partnership agreements with ACP countries: Which way forward?

In March 2018, the EU introduced a legislative package on the fair taxation of the digital economy. It contained proposals for an interim and a long-term digital tax. However, there was no immediate political agreement in the Council. As finding a global solution at the OECD level or a coordinated EU approach was not yet feasible at the time, some Member States started designing or implementing their own digital taxes, which gave rise to trade tensions. In this podcast, we talk about taxing the digital economy. We analyse the main challenges, look at EU proposals and new developments to make international tax regimes fit for the digital age.

EPRS policy podcast - Taxing the digital economy: New developments and the way forward

In her first State of the Union speech, European Commission President Ursula von der Leyen called for the use of qualified majority voting (QMV) in areas such as sanctions and human rights. The crises and security challenges accumulating in and around the European Union have added to the urgency of having a more effective and rapid decision-making process in areas pertaining to the Common Foreign and Security Policy (CFSP) and Common Security and Defence Policy (CSDP).

EPRS policy podcast - Qualified majority voting in foreign and security policy: Pros and Cons

In the first two decades of the 21st century, with new risks and opportunities arising owing to the twin digital and green transformations there is an emerging debate, rethinking economic growth theories with more focus on inclusion and combatting inequality, and exploring the relevance of traditional welfare state models. This debate has intensified in the wake of the 2008 crisis, and now also as a result of the coronavirus pandemic and crisis. The social economy can play a central role in this context.

EPRS policy podcast - What future for the social economy?

A járványok és világjárványok messzemenő és tartós hatással lehetnek a gazdaságra. Az EU-nak fontos szerepe van abban, hogy válság idején segítse az országokat az összehangolt fellépésben, és pénzügyi támogatást nyújtson.

A járványok és világjárványok gazdasági hatása

The Committee on Economic and Monetary Affairs (ECON) is a committee of the European Parliament which is responsible for the regulation of financial services, the free movement of capital and payments, taxation and competition policies, oversight of the European Central Bank, and the international financial system. It is currently chaired by Irene Tinagli.

ECON - Committee on Economic and Monetary Affairs

Economic Dialogues are held in order to enhance the dialogue between the EU institutions on the application of economic governance rules and with Member States, if appropriate, to ensure greater transparency and accountability.

Representatives of Member States, the European Commission, the President of the Council, the President of the European Council and the President of the Eurogroup can be invited to discuss economic and policy issues before the competent Committee of the European Parliament.

The European Semester is the framework for integrated surveillance and coordination of economic and employment policies across the EU. Since its introduction in 2011, it has become a well-established forum for discussing EU countries’ fiscal, economic and employment policy challenges under a common annual timeline. It's being adapted to take into account the creation of the Recovery and Resilience Facility. The implementation of Member States’ recovery and resilience plans will drive their reform and investment agenda for the years ahead. The European Semester, with its broader scope and multilateral surveillance, will usefully complement the implementation of the recovery and resilience plans.

During the last economic dialogue, on 7 February 2022, Valdis Dombrovskis, Executive Vice-President for An Economy that Works for People, and Paolo Gentiloni, Commissioner for Economy, debated with Members from the Committee on Economic and Monetary Affairs ECON the fiscal part of the Autumn Package of the 2022 European Semester and in particular overall assessment of the 2022 draft budgetary plans and policy guidance on the appropriate fiscal stance.

Economic Dialogue

The European Union produces more than&nbsp;2.2 billion tonnes of waste every year. It is currently updating its&nbsp;legislation on waste management&nbsp;to promote a shift to a more sustainable model known as the circular economy.

The circular economy is a&nbsp;model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the&nbsp;life cycle of products is extended.

In March 2020, the European Commission presented the circular economy action plan,&nbsp;&nbsp;which aims to promote more sustainable product design, reduce waste and empower consumers, for example by creating aright to repair). There is a focus on resource intensive sectors, such as&nbsp;electronics and ICT,&nbsp;plastics,&nbsp;textiles&nbsp;and construction.

In February 2021, the Parliament adopted a resolution on the&nbsp;new circular economy action plan&nbsp;demanding additional measures to achieve a carbon-neutral, environmentally sustainable, toxic-free and fully circular economy by 2050, including tighter recycling rules and&nbsp;binding targets for materials use and consumption&nbsp;by 2030.

In March 2022, the Commission released the&nbsp;first package of measures&nbsp;to speed up the transition towards a circular economy, as part of the circular economy action plan. The proposals include boosting sustainable products, empowering consumers for the green transition, reviewing construction product regulation, and creating a strategy on sustainable textiles.

In November 2022, the Commission proposed&nbsp;new EU-wide rules on packaging. It aims to reduce packaging waste and improve packaging design, with for example clear labelling to promote reuse and recycling; and calls for a transition to bio-based, biodegradable and compostable plastics.

Circular economy

The CETA negotiations were launched in May 2009 and concluded in September 2014. The EU and Canada signed the agreement on 30 October 2016. In 2015 the EU imported goods from Canada worth €28.3 billion and exported goods to it worth €35.2 billion, a figure that is expected to rise by more than 20% when the agreement is implemented in full.

The CETA will remove customs duties, end restrictions on access to public contracts, open-up the services market, offer predictable conditions for investors and help prevent illegal copying of EU innovations and traditional products. 
In response to parliamentary pressure, the controversial investor-state-dispute settlement mechanism was replaced by the Investment Court System so as to ensure government control over the choice of arbitrators and enhance transparency.

Comprehensive Economic and Trade Agreement (CETA)

Members of the Economic and Monetary Affairs Committee hear from Christine Lagarde, first in her capacity as President of the European Central Bank and then as Chair of the European Systemic Risk Board. Economic governance, geo-political risks, and the cost of living are all expected to feature prominently in the discussions. The hearings are followed by another debate with Dominique Laboureix, Chair of the Single Resolution Board (Wednesday).

ECON-Monetary dialogue with Christine Lagarde

Teresa RIBERA RODRÍGUEZ was the Third Deputy Spanish Prime Minister and Minister for the Ecological Transition and the Demographic Challenge. She is now Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition, for the von der Leyen Commission II.

Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President designate, Clean, Just and Competitive Transition

Stéphane Séjourné was a Member of the European Parliament from 2019 to 2024, Chair of the Renew Europe Group of the European Parliament in 2021 and French Minister for Europe and Foreign Affairs in 2024. He is now Executive Vice-President-designate of the European Commission for Prosperity and Industrial Strategy, for the von der Leyen Commission II.

Confirmation hearing of Stéphane SÉJOURNÉ, Executive VIce-President designate, Prosperity and Industrial Strategy

Valdis Dombrovskis was Executive Vice-President of the European Commission in charge of an Economy that works for People, and Commissioner for Trade in the von der Leyen Commission I. He was also Vice-President of the EC in charge of the Euro and Social Dialogue, and in charge of Financial Stability, Financial Services and Capital Markets Union in the Juncker Commission and he is a former Member of the EP. He is now European Commissioner-designate for Economy and Productivity, and European Commissioner-designate for Implementation and Simplification, for the von der Leyen Commission II.

Confirmation hearing of Valdis DOMBROVSKIS, Commisioner-designate for Economy and Productivity Implementation and Simplification

ECON - Economic Dialogue and exchange of views on the medium-term fiscal-structural plans and the draft budgetary plans for the euro area

Joint committee on Economic and Monetary Affairs and committee on Civil Liberties, Justice and Home Affairs

LIBE

ECON

Committee on Economic and Monetary Affairs

EGOV MEM Preparatory meeting for the Monetary Dialogue of December 2024

ECON - Public Hearing with Dominique Laboureix, Chair of the Single Resolution Board (SRB)

ECON - Monetary Dialogue with Christine Lagarde, President of the European Central Bank

PETI - hearing of the candidates for the office of the EU Ombudsman - Hearing of  Mr Reinier VAN ZUTPHEN

PETI - hearing of the candidates for the office of the EU Ombudsman - Hearing of Claudia MAHLER

PETI - hearing of the candidates for the office ofthe EU Ombudsman - Hearing of Ms Julia LAFFRANQUE

INTA - Public hearing entitled The Draghi report: competitiveness and economic security from a trade angle

PETI - hearing of the candidates for the office of the EU Ombudsman - Hearing of Marino FARDELLI

PETI - hearing of the candidates for the office of the EU Ombudsman - Hearing of Mr Emilio DE CAPITANI

After the opening statement by Aurore LALUCQ, Chair of ECON Comitee, Christine LAGARDE, President of the European Central Bank, opens the meeting with the EP Committee on Economic and Monetary Affairs. This transcription is a result of an automatic process. Please check against delivery.

Monetary Dialogue with Christine LAGARDE, President of the European Central Bank: opening statements - ECON Committee

&lt;p>From 4th to 12th November 2024, the European Parliament held the Confirmation hearings of the Commissioners-designate, in Brussels. For 3 hours, MEPs quizzed the candidates for the College of Commissioners on their priorities ahead of the new mandate given by Ursula von der LEYEN, President of the European Commission. This clip highlights the best pictures from the 26 confirmation hearings.&lt;/p>

Highlights of the hearings of the Commissioners-designate (2024)

Press point by Antonio DECARO (S&D, IT), ENVI Committee Chair, Aurore LALUCQ (S&D, FR), ECON Committee Chair, and by hold a press point after the Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition. This transcription is a result of an automatic process. Please check against delivery.

Press point by Press point by Antonio DECARO (S&D, IT), ENVI Committee Chair, Aurore LALUCQ (S&D, FR), ECON Committee Chair, Tsvetelina PENKOVA (S&D, BG), ITRE Vice-Chair

Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition, of the VON DER LEYEN Commission is heard by the Committees on Environment, Public Health and Food Safety (ENVI), Economic and Monetary Affairs (ECON) and Industry, Research and Energy (ITRE). Closing statement by Commissioner-designate and Committees Chairs

Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition: Closing statement by Commissioner-designate and Committees Chairs

Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition, of the VON DER LEYEN Commission is heard by the Committees on Environment, Public Health and Food Safety (ENVI), Economic and Monetary Affairs (ECON) and Industry, Research and Energy (ITRE). Questions / Answers (part 5 - Political groups in reverse order).

Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition: Questions / Answers (part 5 - Political groups in reverse order)

Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition, of the VON DER LEYEN Commission is heard by the Committees on Environment, Public Health and Food Safety (ENVI), Economic and Monetary Affairs (ECON) and Industry, Research and Energy (ITRE). Questions and answers

Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition: Questions / Answers (part 4 - Invited committees)

Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition, of the VON DER LEYEN Commission is heard by the Committees on Environment, Public Health and Food Safety (ENVI), Economic and Monetary Affairs (ECON) and Industry, Research and Energy (ITRE). Questions / Answers (part 3).

Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition: Questions / Answers (part 3)

Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition, of the VON DER LEYEN Commission is heard by the Committees on Environment, Public Health and Food Safety (ENVI), Economic and Monetary Affairs (ECON) and Industry, Research and Energy (ITRE). Questions / Answers (part 2).

Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition: Questions / Answers (part 2)

Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition, of the VON DER LEYEN Commission is heard by the Committees on Environment, Public Health and Food Safety (ENVI), Economic and Monetary Affairs (ECON) and Industry, Research and Energy (ITRE). Questions / Answers (part 1 - Political groups coordinators).

Confirmation hearing of Teresa RIBERA RODRÍGUEZ, Executive Vice-President-designate of the European Commission for a Clean, Just and Competitive Transition: Questions / Answers (part 1 - Political groups coordinators)

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