Poland has taken over the rotating presidency of the EU for the first time since it joined the bloc in 2004. Poles are largely "pro-Europe" and are enjoying an economic growth rate of about 3.5%. So even though the country is not part of the eurozone, Poland has indicated that it will use its six months in the EU guidance role both to strengthen the single market and help set up the next EU budgets with more sources of revenue. The group, Cicero Consulting, says that Warsaw will also pursue reforms in economic governance, including the implementation of new regulatory authority for improved EU-wide oversight in banking and broader financial services. There are also new taxation issues for the EU to be tackled by the Polish presidency. Cicero has produced a clear outline of these challenges in a report to be read here.
Cicero Consulting is a member of The European Institute.
Perspectives is an occasional forum of The European Institute reflecting member views on topical issues.
In a valedictory speech before leaving the European Central Bank in October at the end of his eight-year term, Jean-Claude Trichet called for the creation – eventually – of a central finance ministry for the eurozone with powers to intervene in the budgetary and economic decisions of member states.
On May 17, 2011, The European Institute hosted a program with Pankraz Freitag, President of the Swiss Senate Banking Committee. Senator Freitag shared best practices from Switzerland’s fiscal policies and budget management. He also offered his perspective on what the European Union and United States might take away from Switzerland’s “debt brake” experience, while continuing to secure the global strength of the dollar and the euro, balance their budgets and work to reform fiscal regulations in order to avoid future crises.
On April 27, 2011, Jonathan Faull, Director General for Internal Market at the European Commission, Commissioner Michel Barnier’s principal deputy, discussed the ongoing development and implementation of the EU’s ambitious financial governance reforms, the challenges that lay ahead for renewed efforts to strengthen the Single Market and assessed the prospects for greater European-American cooperation in restoring financial and economic health to both sides of the Atlantic. Richard Weiner, Partner at Sidley Austin LLP moderated the discussion.
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