Press Release

21/10/2008

Financial Crisis: Europe leading the way to a new global deal. Joseph Daul MEP, Chairman of the EPP-ED Group

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"Twice since the summer, Europe and the world have come up against major crises. And twice, Europe has shown that by coming together with political will, it can not only adopt a swift and strong position, but it can also influence and lead its global partners", declared the Chairman of the EPP-ED Group (centre-right), Joseph Daul MEP, addressing the European Parliament on 21 October 2008 in the presence of the President-in-Office of the European Council, Nicolas Sarkozy, and the President of the European Commission, José Manuel Barroso.

While Nicolas Sarkozy argued in Strasbourg for "economic government" of the Eurozone, Joseph Daul welcomed the guidelines of the countries in this area, unanimously confirmed by the EU-27, including measures to establish mechanisms for regulating and monitoring, or rules of morality, putting an end to golden handshakes.

"Of course, the financial crisis is not behind us yet. It is during such situations that we can adopt rules for the future", underlined the Chairman of the most influential group in the European Parliament.

"I hear, here and there, that we are witnessing the collapse of capitalism, that everything will be the fault of the market economy. The reality is that the free market must be accompanied by rules. Yet these rules have clearly not been in evidence, or haven't been properly applied. It is this, and not some ideological challenge, that we have to concentrate on with help from central banks and the international community together.

On the Lisbon Treaty, Joseph Daul reiterated his appeal to each Member State to take their final decision.

"If we say this, it is because we see the difficulty Europe has in functioning effectively with the unanimity rule, and without a permanent Presidency. We hope that the European Council in December decides on a roadmap and a realistic timetable, and at the same time finds a solution to get us out of the financial crisis."

Joseph Daul also appealed to everyone to take their responsibilities: if the Nice Treaty continues to apply, it will mean fewer seats and powers for the Parliament, but also fewer European Commissioners than Member States, he concluded.

(Translation from the original French)

For further information:
Joseph Daul MEP, Tel: +33-3-88175525
Antoine Ripoll, Chairman's Spokesman, Tel: +32-475-856290

Notes to Editors:
The EPP-ED Group is the largest political group in the European Parliament with 288 Members from all 27 Member States.