Brussels, 28/04/2012 (Agence Europe) - The plans to beef up economic and monetary union (EMU) unveiled by the president of the European Council, Herman Van Rompuy on Wednesday 27 June, have been given a mixed welcome by Christian-Democrat heads of state. The Swedish prime minister, Fredrik Reinfeldt, said the idea did not solve all Europe's problems and he couldn't go along with it in its current form.
A few hours ahead of the start of the European summit on Thursday 28 June, European Christian-Democrat leaders met in Brussels for a European People's Party (EPP) summit, which did not issue any final statements or hold a formal press conference, the leaders simply expressing the concerns of their own countries. Reinfeldt, for example, does not want EU supervision of banks because it is not needed in Switzerland, which has sufficiently reliable and robust control mechanisms and the Riksdag, the Swedish parliament, would not go along with such an extension of European integration, he warned. He said the means to solve the crisis already existed or had been unveiled.
The growth pact contains everything necessary, which should be combined with economic reform and budget discipline. It just needs to be implemented, he said.
This view is shared by the Spanish prime minister, Mariano Rajoy, in part at least. Yes to deficit reduction and structural reforms, but all that is pointless if finance cannot be raised. His concern right now is to cut his country's borrowing costs.
He said decisions would have to be taken at the summit and one option was eurozone loans direct to banks, although the question would not be solved 100% over the next 24 hours.
The Belgian deputy prime minister, Steven Vanackere, welcomed Van Rompuy's initiative, which clearly sketched out the direction in which Europe has to go, he said, adding that this is what has hitherto been lacking - a longer-term vision. He said that it was simply not possible to solve all problems overnight without a long-term approach. (JK/transl.fl)