“Sustainable budgetary policy and structural reforms and refraining from making additional debt are the only way out of the crisis. The Stability and Growth Pact is the set of common rules that makes it possible for us to be together in our common house, the Eurozone. It is the European Commission’s role to use and implement these rules. But it is first and foremost the duty of the Member States to do their job to ensure the Eurozone is strong: they must take the necessary measures to reform themselves and boost their competitiveness", said Manfred Weber MEP, Chairman of the EPP Group in the European Parliament, today.
“Some countries need to make much more effort than others. This is why the setting-up of national Competitiveness Boards is a good thing, as well as the fact that more weight is to be given to the Macroeconomic Imbalances Procedure (MIP) which has not been given enough attention so far. In any case, additional criteria should not lead to a weakening of the European Semester or to a reduction of national obligations”, said Burkhard Balz MEP, EPP Group Spokesman on Economic and Monetary Affairs. “The creation of an independent advisory European Fiscal Board can be a positive thing if their mandate is clear", Balz added.
“We don’t want any more words. We want action, especially in the Member States which urgently need to change their economic and reform policy", Weber and Balz concluded.
The EPP Group is the largest political group in the European Parliament with 217 Members from 27 Member States