Trans-European Networks in the areas of transport, energy and telecommunications have the potential to reduce growing inequalities between regions in the EU, and also to lay the foundations of a socially and environmentally sustainable society. This is why Socialists and Democrats today welcomed the approval of a deal between the EU Council and the Parliament on the Connecting Europe Facility (CEF) for the next seven-year financial framework 2021-2027. 

The design of the new financial instrument called Sovereign Bond-Backed Securities (SBBS) was negotiated at the European Parliament, led by S&D MEP Jonás Fernández Álvarez. If adopted by co-legislators, SBBS will help banks to diversify their sovereign exposures and to reduce the link with their home governments. For European citizens this would mean another progressive step towards a more stable and secure economic environment in the Banking Union. 

 

The European Parliament today approved new features to be introduced in new vehicles as of 2022 to further reduce the number of road fatalities. In 2017, 25,300 people died on EU roads and 135,000 were seriously injured.

Today the European Parliament gave its final green light to set up the European Labour Authority (ELA), in order to end labour exploitation, tackle undeclared work in Europe and ensure fair mobility of workers across the EU. This is a major success for the Socialists and Democrats who have been calling for such a body for many years. The Authority will start its work in 2019 and is expected to reach its full operational capacity with a staff of 144 people by 2024.