On 18 June 2020, a vast majority of the European Parliament voted in favour of a permanent sub-committee on the topic of tax fraud, tax evasion and tax avoidance. On the same day, the US announced their exit from OECD negotiations on a digital tax.
On 8 June 2020, members of the European Parliament Economic and Monetary Affairs Committee (ECON) questioned the President of the European Central Bank, Christine Lagarde, on the ECB’s crisis-response measures in the context of the Coronavirus crisis.
The Just Transition Fund and the European Social Fund Plus are key financial buttresses of the EU’s social agenda. In view of the challenges of a preferably green, digital and social recovery within the course of the Covid-19 crisis, the Commission now intends to increase both funds – compared to the original Commission proposal.
On 27 May 2020, it finally happened: The Commission presented its eagerly awaited recovery plan. 500 billion Euro shall put the European economy back on its feet and pave the way for forthcoming transformations; further 250 billion shall help individual Member States with favourable loans.
Having published the Country Reports in February 2020, on 20 May 2020, the Commission presented the country-specific recommendations within the scope of the European Semester. The social and economic consequences of the Coronavirus crisis have set a completely different course.
On 29 April, Didier Reynders, Commissioner for Justice, announced his intention to proceed with a European regulation on mandatory corporate due diligence. Whilst the public consultation is to start in the coming weeks, a proposal for a legal initiative has been planned for the beginning of 2021. In doing so, the long-term efforts of civil society and individual MEPs might bear fruit, reaching an important first milestone.
On 6 May, Commissioner for Economy Paolo Gentiloni presented the Spring 2020 Economic Forecast. The EU is faced with a recession of unprecedented scale. However, there are also grounds for hope.