PES FEN: Progressives chart Europe’s path on the Next Long Term EU Budget, the Clean Industrial Deal and the European automotive, the Digital Euro

The PES Financial and Economic Network (FEN), chaired by the President of the Foundation for European Progressive Studies (FEPS), Maria João Rodrigues, convened in Brussels and online to discuss four central pillars of Europe's economic future: the 2028-2034 Multiannual Financial Framework, The European Automotive sector, The Clean Industrial Deal and its legislative deliverables, and the Digital Euro.

Maria João Rodrigues, Chair of the PES FEN, said:

"Europe has reached a crucial moment in shaping its economic future. The decisions taken on the EU budget, our industrial transition and the Digital Euro will define the direction of the Union for the next decade. Progressives are the ones putting forward credible, balanced solutions. Solutions that protect people, support our industries through the green and digital transitions, including the transformation of the automotive sector, and strengthen Europe's open strategic autonomy. Our priority is clear: investing in social cohesion, clean solutions Made in Europe, and a sovereign digital future. Europe cannot afford to do more with less. The choices we make now will determine our capacity to act for the next decade"

The meeting began with an initial discussion of the Multiannual Financial Framework (MFF). Carla Tavares, MEP, EP MFF Rapporteur introduced the discussion and presented the current state of play in the European Parliament as negotiations enter a decisive phase. Members reiterated that the future EU budget must reflect the scale of the challenges Europe faces, providing sufficient resources to uphold treaty-based policies and address new priorities, such as industrial transformation. We cannot achieve more with less.

The discussion highlighted several core priorities, including investing in people, inclusion, and cohesion to build a more social Europe; supporting the climate agenda, food security, and a fair Common Agricultural Policy; promoting values, transparency, and culture to strengthen Europe's democratic foundations; enhancing sustainable competitiveness, preparedness, security, and crisis response to make Europe more resilient and future-proof; and investing in a stronger Europe on the global stage to ensure greater engagement in the world.

The Network then addressed the urgent need to support the transition of Europe's legacy industries, particularly the automotive sector. The discussion was introduced by Terhi Lehtonen, Member of the Cabinet of Executive Vice-President Teresa Ribera and by Mohammed Chahim, S&D Vice President for Green Deal for Industry, Energy and Climate and Financing the Just Transition.

Participants stressed the importance of ensuring that any adjustments do not undermine climate ambition and that strong provisions for green corporate practices are in place. They underlined that industrial transformation must go hand in hand with social justice and environmental responsibility, including support for a European social leasing scheme, ensuring affordability for households and SMEs, and promoting accessible, sustainable, and smart mobility solutions.

The meeting continued with the Clean Industrial Deal and related deliverables, introduced by Thomas Auger, Member of the Cabinet of Executive Vice-President Teresa Ribera and by Mohammed Chahim, MEP, Vice-President of the S&D Group and responsible for Green Deal for Industry, Energy and Climate and Financing the Just Transition. In discussing the Clean Industrial Deal, members called for greater investment in European clean technologies, measures to accelerate industrial decarbonisation, and initiatives to promote a Made in Europe approach. The regional impacts of these measures were highlighted as a key consideration.

The meeting concluded with a debate on the Digital Euro, led by Jonás Fernández, MEP, S&D ECON coordinator. The network reaffirmed that a secure public European digital currency is essential for Europe's strategic autonomy, financial stability, and resilience against external dependencies. The network discussed the political hurdles in the European Parliament and the efforts of parts of the EPP and the far right to burry this project. Participants also underlined that elderly people and people with limited access to digital solutions should never be cut out of access.