EURACTIV PR

An easy way of publishing your relevant EU press releases.

Verhofstadt: Peer review of national budgetary planning in eurozone is insufficient

Date

09 Jun 2010

Sections

Euro & Finance
EU Priorities 2020

Reacting to ECOFIN conclusions today on the work of the task force that aims to strengthen European Union economic governance, Guy Verhofstadt, ALDE group leader, once again underlined the weaknesses of over-reliance on peer review in bringing discipline to macroeconomic policy-making:

"Europe's finance ministers have correctly identified the problem - a lack of governance - but failed to spell out the necessary solution. Peer review is exactly the mechanism that has failed to impose budgetary discipline in the past."

"Clarity and decisiveness in the economic and financial sphere have been demonstrated in the present period of crisis to be crucial in sending out the right political signals."

"It must be made clear that the Commission or the ECB, rather than the Council, are charged with making objective assessments of the state of national budgets prior to the adoption by national parliaments. This will not only ensure better coordination and coherence across the Eurozone but also give national parliaments additional tools for evaluating their government's economic policy commitments."

For more information, please contact:

Neil Corlett: +32-2-284 20 77 or +32-478-78 22 84

e-mail: neil.corlett@europarl.europa.eu 

Jobs

American Embassy Brussels
Commercial Specialist
EOC EU Office
Office manager
European Cancer Organisation
Social Media and Communication Intern
European Enterprise Alliance
Policy Internships
European Cancer Organisation
PA to the President and CEO
EALD PARTNER
Administrative Trainee
European Furniture Industries Confederation
Communications and Policy Officer
CINEA - European Climate, Infrastructure and Environment Executive Agency
Project Officer - Horizon Europe Transport