Brussels, 23/09/2011 (Agence Europe) - Rejecting most of the “six-pack” of eurozone economic governance legislation to be voted upon by the European Parliament plenary next week, the socialist and democrat group of MEPs at the European Parliament (S&D) says that a different strategy is possible which focuses more on economic recovery, rather than on austerity.
“The deal concluded by the conservatives and the liberals will lead to more austerity. It is not the right medicine to cure the patient,' said Stephen Hughes and Udo Bullmann, both MEPs from the S&D Group. They added: “We believe in a different path. We need a broader and more ambitious agenda to save the eurozone.”
The S&D Group requests a new economic government scheme including: - a European growth and jobs pact to promote investment, recovery, growth and jobs as well as restoring public finances; - stronger and more democratic decision-making arrangements so that Europe can respond promptly and effectively to a fast-moving economic environment; - a strong system of eurobonds to stabilise markets and interest rates; - a tax on financial speculation, to raise new revenue and limit harmful forms of speculation ; - a real European budget to support European policies, financed through own resources.
The group says that the package currently being negotiated is “economically misguided. Austerity measures which fail to protect investment will kill growth, destroy jobs and derail economic recovery. This will make the return to sound public finances simply impossible. We need sound public finances. There is no doubt about that. But the cuts in spending won't be reached if there is no growth.... Workers, retired people and the unemployed will pay the price of such policies, whereas people who have caused the crisis will again escape.” (LC/transl.fl)