Commenting on the informal European Summit on investment, growth and jobs, Joseph Daul MEP, Chairman of the EPP Group, said: "The European Union has worked hard to ensure financial stability in the Eurozone and to build an exit strategy that will help us grow out of the crisis. I welcome the discussion held yesterday by the Heads of State and Government, in line with previous discussions."

"That said", continued Joseph Daul, "growth will not come with the flick of a magic wand, nor with additional expenses, for which we no longer have the means. The EPP Group strongly supports deficit reduction, coupled with sustained growth and job creation."

"This growth can only be achieved by a competitive economy. I remind those Socialists who never say the word, that competitiveness is not a taboo word. We have all the means to better use European funds, to complete the Single Market and to support SMEs. The time has come to start implementing what we have already agreed, and to match our policies in one coherent legal framework for economic policy coordination", added Joseph Daul.

"The EU must streamline and render more precise its strategies for growth and competitiveness: the Europe 2020 Strategy and the Euro Plus Pact. Their aim is right but they need to become binding. Moreover, the European Commission should lay them out in detail as European Growth Commitments within the European Semester."

Joseph Daul concluded: "The latest European Parliament Eurobarometer clearly outlines that European citizens feel strong about emerging from the crisis by simultaneously reducing public spending and boosting the economy. People understand that we can no longer live in debt. I hope my Socialist colleagues will take this into account when they wave the flag of growth based on more debt and no sound finances. Our citizens no longer want to burden their children's future with their own debts."

For further information:

Joseph DAUL MEP, Chairman of the EPP Group, Tel: +33-3-88175525

Antoine Ripoll, Chairman's Spokesman, Tel: +32-475-856290

Delia Vlase, Chairman's Deputy Spokeswoman, Tel: +32-476-331038

Notes to Editors:

The EPP Group is by far the largest political group in the European Parliament with 271 Members and 3 Croatian Observer Members.