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Fiscal pact - bad medicine, crooked method


18 Jan 2012


Euro & Finance

Speaking on the draft international agreement for a reinforced economic union, Danish GUE/NGL MEP Søren Søndergaard said the deal would fail to ensure stability in the Eurozone and will certainly not succeed in overcoming the EU's deep social, economic and political crisis.

"Council will adopt the international treaty on a fiscal stability union on January 29th. This treaty damages Europe - it's the wrong solution and the wrong procedure. One obviously cannot stimulate growth and prosperity via cuts - that only leads to deeper crises and more unemployment - if you don't believe us, just ask Standard & Poor's."

"On the other hand, this procedure reinforces EU integration without popular consultation. Even MEPs, the representatives of the people, have been excluded. The only democratic way to change the EU's architecture is by calling a convention where opposing views can be raised. Regretfully EU leaders have chosen a different path, one that our group cannot support."

GUE/NGL Press Contacts:

David Lundy +32 485 50 58 12

Gay Kavanagh +32 473 84 23 20

European United Left / Nordic Green Left

European Parliamentary Group 


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