Brussels, 31/05/2011 (Agence Europe) - The European Parliament's special parliamentary committee adopted its definitive draft report on Monday 30 May. This draws lessons from the financial, economic and political crisis in which the European Union has been sinking (EUROPE 10347). The author of the report, Pervenche Bères, declared that they needed “more not less Europe”. According to the French Socialist, if the EU wants to continue to play a role on the international stage, its only possible outcome is increased economic integration in an effort to complete the internal energy and transport markets.
According to MEPs, the Community budget should be within a band of 5- 10% of Community GDP, through the setting up of own resources but without increasing taxes on citizens. The European Treasury should also define economic policies, whilst the European Stability Mechanism (which is expected to be introduced in the middle of 2013) to support eurozone countries experiencing difficulties should be transformed into a European Debt Agency, which is able to issue eurobonds. In the arena of taxation, the parliamentary committee advocates increased coordination between national policies. A tax on financial transactions would also help fund the industrial changes required to fight climate change and help stimulate development in countries in the South.
British Conservatives rejected the report and consider that “more Europe” is not the appropriate response to the crisis. In a press release, Kay Swinburne stated that they agreed with the need to improve economic governance and comply more strictly with the rules of the Stability and Growth Pact but that an attempt to impose a one-size fits all solution on national governments is not the way forward.
The draft report will be voted on during the July plenary session. (M.B./transl.fl)