The European Economic and Social Committee (EESC) in Brussels has appointed Philip von Brockdorff, UHM Voice of the Workers’s representative at EESC, as rapporteur for the European Commission's Communication for a European Investment Stabilisation Function.

The European Commission’s Communication sets out a vision of how certain budgetary functions that are essential for the eurozone and the EU as a whole can be developed within the framework of the EU’s public finances.

In its Communication, the Commission presents some key features for the roll-out of a stabilisation function as a way of preserving investment levels in the event of large asymmetric shocks. A stabilisation function at European level would provide the possibility to activate resources rapidly to deal with large asymmetric shocks that cannot be managed at the national level alone.

The stabilisation function is intended for the eurozone member states but other member states could also participate. The Commission has proposed €55 billion in the next long-term European Budget for supporting investment in the eurozone during economic shocks and structural reforms.

In his role as rapporteur, Dr von Brockdorff will meet senior representatives from the European Commission, seek feedback from relevant institutes and organisations based in Brussels and from members of the EESC.

A final report will be presented for approval at the EESC's Plenary Session later this year.