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Eurozone Summit: learning lessons from the crisis. Joseph Daul MEP, Chairman of the EPP Group, and Corien Wortmann-Kool MEP


08 Mar 2011


Euro & Finance

"What lesson should we learn from the financial crisis if it is not that our Member States must stop considering cooperation in the budgetary, fiscal and social fields as taboo?", said the Chairman of the EPP Group in the European Parliament.

"This is what the competitiveness pact - the original version of which has been reviewed to make it more in line with the Community Method, as I hoped for - rightly suggests", continued Joseph Daul.

"Let me measure the progress already made: the implementation this year of the EU-27 consultation procedure on national budget priorities is in itself a revolution. The rules we have put in place to regulate the financial markets are also exemplary."

The EPP Group, just as the EPP Heads of State and Government did last Friday in Helsinki, supports and applauds these measures.

"It's a pity though that the only two Heads of Government who managed to turn up at the European Socialists Summit in Athens preferred to give their support to the policies destructive to employment in place in Spain, for example, rather than joining Europe's efforts to increase employment", criticised Joseph Daul.

The crisis brought job losses, family tragedies. The least we can do is learn lessons from it.

"First lesson: not to treat lightly the obligations of Member States to respect budget limits. Second lesson: European solidarity can only work if our social and fiscal rules are comparable. Third lesson: Europe must have a European stability mechanism. Fourth and last lesson: even during stormy times, the Euro is holding up and European integration is strengthening. This is the time to consolidate our economy and competitiveness and work for the jobs of the future," concluded Joseph Daul.

Corien Wortmann-Kool MEP, Vice-Chairwoman of the EPP Group, underlined the strong inter-linkage with the current legislative proposals on the strengthening of economic governance. She said: "The proposed competitiveness pact underlines that Heads of State and Government want to raise competitiveness and productivity in the European Union, which the EPP Group welcomes. Where the competitiveness pact affects the legislative proposals, the co-legislative role of the European Parliament has to be fully respected."

(Translation from the original French)

Joseph Daul's speech in plenary

For further information:
Joseph DAUL MEP, Chairman of the EPP Group, Tel: +33-3-88175525
Antoine Ripoll, Chairman's Spokesman, Tel: +32-475-856290

Notes to Editors:
The EPP Group is by far the largest political group in the European Parliament with 265 Members.


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