Brussels, 28/06/2012 (Agence Europe) - “Europe's fate now hinges on our ability to come up with a convincing response to the debt crisis and set a course for growth”, explained the president of the European Parliament, Martin Schulz, to the European summit in Brussels on Thursday 28 June, adding: “Today, we must lay the groundwork for measures which can be taken in the next few months.”
“Today you will be discussing the issue of a Banking Union - the European Parliament put forward specific legislative proposals on this very matter two years ago. We can and should take immediate steps to establish a banking union on the basis of the existing treaties”, said Schulz. “Today you will be discussing a series of measures to stimulate growth whose implementation Parliament had already advocated in the report its CRIS committee adopted one year ago (eurobonds, debt repayment fund, increase in the EIB's own capital, measures to combat tax evasion). We should also give serious consideration to authorising the ESM to have a banking licence. We have to reduce the pressure built up due the high interest rates some member states are facing.”
On the future of the EU, Schulz said that firstly, “reform must involve all 27 member states, since it is in our shared interest - and it is our shared responsibility - to create an economic and monetary union with the ability to take decisive action. Secondly, we must first exploit to the full the scope offered by the Lisbon Treaty. Thirdly, any reform process must be carried out on the basis of the existing Community institutions and in keeping with the principles of parliamentary democracy.” In terms of an action plan for political union, the Commission, Council of Ministers, European Central Bank and Eurogroup are working together, but without involving the European Parliament. Schulz said it was not acceptable for the only directly elected EU institution, the voice of citizens in Europe, to be kept out of the debate on Europe. He ended by saying that cutting back the EU budget would not help anyone out of the crisis. (LC/transl.fl)