Press Release

Consolidation of the Euro, not reform

Brussels
, 06.12.2017 - 13:26
euro coin

"If member states do not implement these proposals, sanctionS will be ineluctable"

The EPP Group has welcomed today's proposition from the European Commission on further steps towards completing the Economic and Monetary Union because this is the only way to avoid future crises.

"We cannot do things by half. The architecture of our currency is still incomplete. If we do not get the Euro ready for the future, the next crisis will be devastating", said Françoise Grossetête MEP, Vice-Chairwoman of the EPP Group in charge of Economic Affairs.

Grossetête does not see today's proposals as a 'reform': "Rather than reform, I prefer to speak of consolidation. Since the crisis in 2008, we have already made a lot of progress and we do not need to reinvent the wheel. We already have a framework and a set of rules for the Eurozone which just need to be consolidated and strengthened", Grossetête stressed today.

The architecture of our currency is still incomplete. Françoise Grossetête MEP

The EPP Group Vice-Chairwoman is also favourable to a European deposit insurance scheme, "when conditions are met". "Our priority is to complete the Banking Union, including a deposit insurance scheme and clear rules for states that go bankrupt", she said.

Grossetête called on the Member States to be aware of their responsibility. "A lot of political will is necessary to go ahead. But make no mistake, if Member States do not implement these proposals, sanctions will be ineluctable in 2019", she emphasised.

"The EPP Group will be a constructive partner in putting today's proposals into practice", she concluded.

Note to Editors
The EPP Group is the largest political group in the European Parliament with 217 Members from 27 Member States

MEP Contacts

-
Françoise GROSSETÊTE
BRU - Phone: +32 (0)2 2845952 Fax: +32 (0)2 2849952
Email: francoise.grossetete@europarl.europa.eu

Press Contacts

Daniel Köster
Press Officer on Economy and Environment, Economic and Monetary Affairs and Austrian Media, Communication
Phone: +32 487 384 784
Jean-Luc Feixa
Press Officer for Women's Rights and Gender Equality, Employment and Social Affairs, Fisheries and French and Luxembourgish Media
Phone: + 32 477 680 090

Latest

#UksLastSummer
16.07.2018 - 18:15

UKsLastSummer

The summer holidays have started! Which EU country are you going to visit this summer? Did you know that your holidays may be less hassle...
Ensuring that consumers have the same quality of product across the EU
12.07.2018 - 12:00

Ensuring that consumers have the same quality of product across the EU

Last year, it emerged that there were differences in the quality of food and non-food products being sold in different EU countries between, for...
Back lit money bags with euro symbol in vault
12.07.2018 - 10:37

EPP Group wants independent Monetary Fund under Union law

The EPP Group wants the planned European Monetary Fund (EMF) to be independent and integrated into Union law. "The European Stability...
Woman checking food labelling
12.07.2018 - 09:50

Dual quality of products

Products sold under the same brand name must have the same composition throughout the EU - this is the key message from the EPP Group’s Ivan...

Highlights of the week

09.07.2018 - 13.07.2018
Cloud computing security

More muscle to combat threats to our networks

As threats to our vital networks and information structures are rising, we need to strengthen our ability to prevent, detect and respond to problems...
Happy family with child and shopping bags in city

Better work-life balance for parents and carers

On Wednesday afternoon, the Employment and Social Affairs Committee will vote on the legislative draft Report establishing a better work-life balance...
Human Hand Holding The New Apple Tv Siri Remote

New audiovisual media rules

Members of the Culture and Education Committee will endorse the political agreement reached on the reform of the EU legislation on Audiovisual Media...
Michal Boni MEP