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Eurocrisis: Green Paris Declaration adopted today

Date

14 Nov 2011

Sections

Euro & Finance

Paris, 13th November 2011 --- European Green Parties representatives adopted today in Paris a 12-points political proposal   to step out of the current financial, social and economic crisis affecting Europe, and a roadmap for the refounding of the European project: European Greens are convinced that the European project needs to find a new sense of direction and purpose. 

“These crises are eroding social cohesion and leading to political disintegration of the continent, driving us to irrelevance in the 21st century. Any scenario leading to the break-up of the Euro-zone, which would be the first step of the political disintegration of Europe, is unacceptable to us. Conversely though, any enhanced political integration of the Euro-zone cannot lead to the crystallization of a two-speed Europe”, said Philippe Lamberts, MEP and co-chair of the European Green Party. 

“The battle for European democracy is not over. The alienation of public opinion towards the EU is growing because of the 27 member states’ inability to produce sustainable and progressive common solutions to the multiple crises impacting the citizens”, said Monica Frassoni, co-chair of the European Green Party. “The existing “governance” mechanism is wholly inadequate. But the increasing weakening of the common institutions in favour of an old fashioned Directory lead by ‘Merkozy’ will do nothing to improve the situation”.

 
  The full text of the Paris Declaration will be available at http://europeangreens.eu/congress/. The Greens’ proposal involves:
Make the Greek debt-burden sustainable; 
Make the European Financial Stability Fund (EFSF) (and future ESM) an effective backstop;
Recapitalise the European banks;
Rebalancing the austerity-only approach;
Strongly re-regulate Europe’s finance industry;
Develop a comprehensive European tax strategy, including active fight against tax evasion and limiting avenues for tax avoidance;
Establish a European Monetary Fund;
Make the macro-economic surveillance framework operational and more balanced;
Make the EU budget an instrument of economic policy, which will create a strong and relevant European Treasury.
Launch a Green New Deal for Europe including: 
Putting the EU2020 targets on an equal footing with the stability and growth, and financial targets; 
More effective pricing of CO2 through a move to a 30% GHG emissions cut by 2020;
Imposition of carbon stress tests to financial institutions, the introduction of climate risk as systemic risk into legislation, the promotion of green indices that indexed-based funds can refer to, the development of green banking, with tax incentives where appropriate;
allowing the EIB to issue green bonds in order to foster green investments; Mandating public pension funds and incentivising private pension funds to allocate a proportion of their portfolio to green investments and companies. 
Implement an energy transition to renewable energies, out of nuclear and fossil-fuels.
Co-decide key economic policy guidelines;
A Convention for a new Europe.
 

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