Brussels, 05/10/2012 (Agence Europe) - On Thursday 4 October 2012, German S&D MEP Bernhard Rapkay opposed the idea of the eurozone having its own budget, separate from the EU27 budget. He said he didn't want to see a European budget separate from the European budget and over which the eurozone would not have any control. This is the predominant attitude in the social democrat party at the EP about the idea, although talks are continuing. Bernhard Rapkay said a budget for the eurozone would be possible within the EU27 budget.
Rapkay said that strengthening Economic and Monetary Union in the eurozone must not lead to the creation of a special European Parliament for the eurozone separate from the current EP, because the euro is a European policy and the European Parliament is there to monitor it through parliamentary scrutiny. He added that all MEPs should take part in EMU decision-making and not solely those from eurozone countries becaue MEPs were MEPs first and foremost rather than parliamentarians of their country of origin. As part of the process of drawing up a progress report on the introduction of EMU, a report to be unveiled at the October Summit, the president of the European Council, Herman Van Rompuy, has mooted the idea of a eurozone budget to help these countries implement reforms (see EUROPE 10688). (CG/transl.fl)