Brussels, 14/03/2013 (Agence Europe) - European leaders belonging to the Party of European Socialists (PES) pledged on Thursday 14 March 2013, ahead of the opening of the European Summit, to use their influence “to ensure that the pace at which fiscal consolidation was being pursued was set in a way that brings the people hope rather than causes further disillusionment and social unrest.”
The PES president, Sergei Stanishev, said that the EU “has been driving way too fast on austerity. This European Council must recognise that when you are far above the speed limit then you will make mistakes and ultimately lose control”. He added that “what we need is sensible balanced economic policy that observes all the signs along the road - the signs of growth, the signs of job creation and the signs that point to risk of prolonging this great recession. Recovery will be based on job creation, investment and growth”.
The PES leaders also pledged to make sure that the social dimension of economic and monetary union was given full consideration. “An essential part of this social dimension is the Youth Guarantee which should receive a clear European framework strategy and increased funding as part of the EU budget”, added Stanishev. The PES recommends a strong European industrial policy based on an industrial action plan and implementation of the financial transaction tax. (LC/transl.fl)