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Europe Daily Bulletin No. 10407
GENERAL NEWS / (ae) ep/economy

Status quo on stability pact reform

Brussels, 28/06/2011 (Agence Europe) - Both the European Parliament (EP) and the member states are standing firm by their positions in negotiations on the reform of the stability and growth pact, even though the aim remains political agreement before the plenary session next week (see EUROPE 10406). ALDE Group leader Guy Verhofstadt (Belgium) stoutly defended the EP position which supports strengthening of automatic decision making at a stage of the preventive arm of the pact. “Member states do not punish themselves. It has never happened in the past and it will not happen in the future” he opined on Tuesday 28 June in the EP debate on the European summit (see EUROPE 10405). He says that breaking the deadlock is easy: all the Council has to do is agree to the EP's request. How can the Council say, with regard to assessment of macro-economic imbalances within the euro area, that there is no link between deficit and surplus, asked Elisa Ferreira (S&D, Portugal). After the European Council, Council President Herman Van Rompuy called on MEPs to be reasonable. This time, however, he warned the two joint legislative institutions that they should not jeopardise the good that had already been achieved by the pursuit of something better. (M.B./transl.rt)

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