The Macroeconomic Dialogue serves as a forum for discussions between key European stakeholders and social partners. Participants included high-ranking representatives of European trade union federations and employers associations, European Central Bank President Christine Lagarde, European Commission Vice-President Valdis Dombrovskis, the president of the Eurogroup and chairs of various European committees. In addition, representatives of the next two holders of the Council Presidency, Portugal and Slovenia, also attended the meeting.
Participants addressed the current economic situation and the impact of the pandemic, as well as the economic outlook at the European level. At the initiative of the German Council Presidency, the role of the Recovery and Resilience Facility (RRF) in employment and economic growth in Europe was also discussed. As preparation for the meeting, the German Council Presidency had prepared an issue note with discussion questions that placed a focus on a) the most important challenges with regard to a swift economic recovery and the corresponding role of the RRF, b) linking reforms and investments, and c) the social partners’ contribution to a swift economic recovery.
The special topic that had been proposed by the German Council Presidency met with great interest and helped to deepen mutual understanding between the social partners and European institutions. In the press release that was published after the MED, participants took the opportunity to clarify their views on the current situation and future challenges.
"The COVID-19 second wave has hit Europe. The pandemic is causing unprecedented economic and social challenges. It is all the more important that Europe stands together in solidarity in the fight against the coronavirus. The social partners are key to successfully responding to these challenges. Today, we had a constructive and valuable exchange with social partners on the severity of the economic conditions and the importance of the Recovery and Resilience Facility for Europe’s recovery. The Recovery and Resilience Facility needs to be quickly implemented to support a sustainable recovery and at the same time facilitate the green and digital transitions." German Finance Minister Olaf Scholz
The Macroeconomic Dialogue (MED) is an important forum for discussions on the design of macroeconomic policies at the European level. It is prepared for by a meeting at technical level (MEDTEC). The MED was established in 1999 in response to a German initiative. Since then, it has taken place every six months under the direction of the current Council Presidency.