SOCIAL ECONOMY : MEPS HIGHLIGHT BENEFITS OF THIRD SECTOR'.

• Position: Members of Parliament - Brief article

Although often "misrecognised", the spread of social economy enterprises could "reduce exposure to speculation in financial markets". This is the opinion of 580 MEPs, who voted in favour (27 against, 44 abstentions) of a report, on 19 February, drafted by Patrizia Toia (ALDE, Italy). Social economy' businesses are companies that focus on people rather than capital and, among other things, "defend and implement the principles of solidarity and responsibility". They include cooperatives, NGOs and charities, and are often referred to as the third sector'.

MEPs say they are aware that the social economy sector' is "little known" and is often the target of criticism "stemming from misguided technical approaches". But they point out that this sector helps to "rectify three major labour market imbalances: unemployment, job instability and the social and labour exclusion of the unemployed". It is not the creation of jobs that makes social economy businesses valuable, the report states. "This contribution by the social...