An economy that works for the people
What is it?
A central element of the European Union is its nature as a social economy and an economic and monetary union. In this scenario, Member States need to cooperate in employment, social and economic policies to achieve satisfactory results that leave no one behind.
What does it do?
Individuals and businesses in the EU can only thrive if the economy works for them. The EU’s unique social market economy allows economies to grow and to reduce poverty and inequality. Small and medium-sized enterprises are the backbone of the EU’s economy. It is essential to strengthen them, complete the Capital Markets Union and deepen the Economic and Monetary Union. With Europe on a stable footing, the economy can fully respond to the needs of EU citizens.
"An economy that works for the people" seeks to make individuals and businesses to thrive in economic terms. However, efforts on reducing poverty and inequality both within and across countries and regions is an objective of the European Union. The programme sets five policy domains - Economic and monetary union; internal market; jobs, growth and investment; Economic Policy Coordination, and Youth Employment Support.
Source: EC Website, 2023.
Website(s):
- A deeper and fairer economic and monetary union.
- Internal market.
- Jobs, growth and investment.
- The European Semester.
- Youth employment support.
Documents:
- Factsheet - A strong social Europe for just transitions.
- Social Economic Action Plan.
- Questions and answers: A fair transition towards climate neutrality.
- 2023 European Semester Cycle - Economic and employment coordination.
Videos:
- Economic and Monetary Union (European Commission).
- The European Union's Cohesion Policy: Investing in your Regions and Cities (European Commission).
- Youth Employment Support package and the European Skills Agenda (European Commission).