PES - Party of European Socialists

07/02/2026 | Press release | Distributed by Public on 07/02/2026 08:23

Fairness, investment and sovereignty: shaping Europe’s economic future

The PES Financial and Economic Network (FEN) met in Brussels, bringing together representatives from PES member parties, the European Parliament, trade unions, academia and civil society, to discuss some of the key financial and economic challenges facing Europe today.

The meeting marked the beginning of a new chapter for the Network, with Aurore Lalucq MEP taking over as Chair. She brings a wealth of progressive experience to the FEN from her chairmanship of the European Parliament's Committee on Economic and Monetary Affairs (ECON) and her co-leadership of Place Publique.

Participants thanked Maria João Rodrigues, who chaired the Network from 2017 to 2026. Under her leadership, the FEN became a leading platform for convergence of progressive thinking on Europe's economic and social agenda. She helped to shape common responses during critical moments, including Europe's recovery from the COVID-19 pandemic.


Aurore Lalucq, Chair of the PES Financial and Economic Network, MEP, Chair of ECON Committee; Yonnec Polet, PES Deputy Secretary General
This meeting focused on three key topics: the proposed 28th company law regime ('EU Inc.'), the Market Integration and Supervision Package (MISP), and the economic consequences of the war in Iran and potential measures to mitigate them.

Aurore Lalucq, Chair of the PES Financial and Economic Network, said:

"We need to strengthen the Single Market by improving capital market integration, addressing fragmentation in financial supervision through stronger central oversight, and removing persistent barriers to cross-border business and investment.

On the economic consequences of the war in Iran, we are deeply concerned about the impact on ordinary citizens across Europe. We must protect households from rising costs and ensure that the burden does not fall disproportionately on working people.

As progressives, we believe economic resilience and social progress must always go hand in hand. This is the vision that will guide my work as Chair of the PES Financial and Economic Network: bringing together progressives to build a more sovereign European economy."


Isabelle Schömann, ETUC Deputy Secretary General; René Repasi, MEP, S&D Coordinator of the JURI Committee
The first discussion focused on the proposed 28th company law regime ("EU Inc."), examining how Europe can simplify cross-border business activity while ensuring strong protections for workers and safeguarding national labour standards. The debate benefited from contributions by Gaby Bischoff MEP, Chair of the PES Social Europe Network (SEN), who highlighted the central importance of social issues in this file, and René Repasi MEP, Rapporteur on this legislation in the European Parliament. MEP René Repasi presented his newly issued draft report, which improves the Commission's proposal by reducing legal uncertainty for companies operating across borders. In his report, MEP René Repasi addresses many gaps relating to labour law and workers' participation rights, arguing that the 28th regime can only be effective if these issues are adequately addressed.

Participants also exchanged views on the Market Integration and Supervision Package (MISP), a set of proposals particularly aimed at overhauling the European supervisory architecture. The discussion explored how deeper capital market integration and stronger European supervision can support investment, productivity and financial stability. Eero Heinäluoma MEP, Rapporteur on the Master Directive and S&D Shadow Rapporteur on the Master Regulation, presented his draft report and provided an update on the ongoing negotiations in the European Parliament.


PES Financial and Economic Network (FEN)
Finally, the Network discussed the economic consequences of the war in Iran, including its impact on the cost of living, particularly energy prices and measures to mitigate it for ordinary citizens. Members underlined the importance of protecting households, workers and businesses from future energy shocks while accelerating Europe's energy transition and strengthening open strategic autonomy. Economist Xavier Timbeau, Director of the Observatoire français des conjonctures économiques (OFCE) and Research Director at Sciences Po, introduced the debate.

The meeting reaffirmed the PES Financial and Economic Network's role as a platform for developing progressive economic solutions that combine sustainable growth, social justice and greater European resilience.


PES Financial and Economic Network (FEN) - online participants. Gabriele Bischoff, MEP, Chair of the PES SEN; Xavier Timbeau, OFCE Director and SciencesPo Research Director; Christoph Prenner, Advisor to the Federal Minister of Finance, Austria; Ilona Sorri, International Secretary, SDP, Finland; Filippos Sachinidis, Former Minister of Finance, Greece; Zoltán Vajda, Economist, Ex-chair of the Budget Committee in the Hungarian Parliament; Antonio Misiani, Senator, Responsible for economic policy in PD National Executive; Rimantas Šadžius, Former Minister of Finance, Lithuania; Jamila Madeira, International Secretary, PS, Portugal; Dusan Nikezic, Vice-President and MP, SSP, Serbia; George Tsoumas, YES Vice-President
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