EMU-wide automatic stabilizers: towards a common Unemployment Benefit Scheme?
REBALANCING ECONOMIC AND SOCIAL STABILISATION IN THE EU
Contribution to the informal EPSCO Council in Milan on July 17 and 18 – Workshop II: EMU-wide automatic stabilizers: towards a common Unemployment Benefit Scheme?
KEY MESSAGES
- Stabilisation as part of a long-term approach
A common Unemployment Benefit Scheme (UBS) would offer short-term support during significant economic shocks that leads to social shocks such as high unemployment. However we still need a long-term approach to avoid a social crisis from happening and to support the sustainability of the European Social Model.
- Minimum requirements and common standards for member states
If a concrete proposal for a European UBS would be put forward, it should include minimum requirements and common standards on how member states should translate such a scheme into concrete unemployment benefits, while taking into account the different national contexts.
- Complementing member states’ responsibilities
An E(M)U-wide automatic stabiliser such as a UBS should only support and not replace member states’ own national responsibility to put in place adequate and well-functioning social protection systems.