"Budgetary discipline can no longer be a theoretic figure in a political pact, but must be enforced in all budgets in the European Union. This is the only way forward, if we want to provide a long-term solution to the financial crisis", said Joseph Daul MEP, Chairman of the EPP Group, in a comment to the start of the "European Semester", a budgetary monitoring exercise decided by the EU.

"Balanced national budgets are essential in order to guarantee economic and social stability and to provide better investment conditions for the creation of jobs and growth and allow Europe to increase competitiveness. European Economic Governance is therefore a prerequisite to maintaining the successful European model of social market economy", said the Chairman of the European Parliament's largest political group.

"I also wish to thank EU Council President Hermann van Rompuy for his courage and energy in heading the task force which led to the necessary strengthening of the budgetary control mechanisms in the European Union", said Daul.

For further information:
Joseph DAUL MEP, Chairman of the EPP Group, Tel: +32-2-2845525
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.