ECON commission First Vice-Chair Ilpo Heltimoinen has been appointed rapporteur for the European Committee of the Regions' opinion on "Shock-proofing European regions: Strengthening local and regional economic resilience in the strategic evolution of the Single Market".

"Following a number of economic shocks in Europe, we have seen the need for our regions to better prepare, adjust and recover. We must develop effective mechanisms, regulatory frameworks, and tools to enhance our regions' economic resilience in the Single Market" stated Mr Heltimoinen.

The opinion will re-evaluate existing policy and funding instruments and their mechanisms in the Single Market, with the objective to address the economic vulnerabilities of local and regional stakeholders, focusing on enhancing their resilience in the face of economic shocks. "We must be prepared ahead of time with a strong framework, as economic shocks will come and impact all types of regions," highlighted Mr Heltimoinen.

The draft opinion is scheduled to be adopted in the July ECON commission meeting before being put to vote in the CoR October plenary session.