Stacks of 5, 10, 20 and 50 euro notes piled together

"We must continue to resist the temptation coming on a regular basis from the Left to go for more lax rules. Irresponsible economic policies would jeopardise the recovery of the Union", said Enikő Győri MEP, EPP Group Shadow Rapporteur, after the adoption of the Report on economic policies (European Semester) of the Euro area 2020.

"Europe desperately needs a viable growth strategy in order to preserve and create jobs. This includes sound economic rules on public finances that provide sufficient flexibility to increase Member States' financial room for manoeuvre in the event of an emergency - like the present Coronavirus crisis", Győri explained.

She added that a strong focus on digitalisation and environmental sustainability is right as well as working for a more competitive Europe. "That is the only way to maintain our high social standards", she said.

In today's vote in the Economic and Monetary Affairs Committee of the European Parliament, the EPP Group managed to achieve that the European Semester remains a primary instrument for economic policy coordination and successfully thwarted Left-wing efforts to dilute the European Semester.

EPP Group Spokesman in the committee, Markus Ferber MEP, underlined that the original purpose of the so-called European Semester where the EU Member States take stock of the economic situation, is as valid today as it was when it was introduced - if not more.

"The European Semester is the EU’s tool to strengthen competitiveness and ensure prudent fiscal policies. If we allow the European Semester to become a mish-mash of competing objectives, it will not be good for anything in the end. Today, we have seen that the main economic policy objective of the political Left is to dismantle the heart of the European Semester one piece at a time. This is, of course, a no-go", Ferber concluded.

NOTE TO EDITORS

The EPP Group is the largest political group in the European Parliament with 187 Members from all EU Member States

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