(10 May 2017) – Following its White Paper on the Future of Europe presented on 1 March, the European Commission is publishing today its Reflection Paper on Harnessing Globalisation.
On the external front, the paper focuses on the need to shape a truly sustainable global order, based on shared rules and a common agenda. For example, the EU could push for new rules to create a level-playing field by addressing harmful and unfair behaviour like tax evasion, government subsidies or social dumping.
On the domestic front, the paper suggests tools to protect and empower citizens through robust social policies and providing the necessary education and training support throughout their lives. Progressive tax policies, investing in innovation and strong welfare policies could all help redistribute wealth more fairly.
Meanwhile, use of EU structural funds to assist vulnerable regions and the EU Globalisation Adjustment Fund to help displaced workers find another job can help mitigate negative impacts.