The positive aspect. The results of last week's summit were underestimated in my opinion. The message given to public opinion by most of the media was not that of a failure but of an insignificant meeting. Yet this meeting of the European Council in fact had the merit of making official and practically definitive the parallelism between the elimination of the national budget deficits, which are ruinous for several member states, and the principle of an economic recovery that is as effective and strong as possible. This is a parallelism that introduces elements of flexibility into the essential austerity (even if this term was avoided by the political authorities). It is a way of respecting the name of the Stability and Growth Pact - the two aspects need to be reconciled. The deficits must respect the accepted dimensions and certain categories of public expenditure will perhaps be able to benefit from an exemption to the rule.
These approaches have now been accepted by the countries that have reached or overshot their budgetary balance. The big states that are too much in deficit and debt - like France and Italy - are aware that this balance is essential for controlling their economic choices and their destiny. Ireland and Portugal are making progress in regaining their autonomy. Admittedly, Greece - and now Cyprus - are cases apart. Putting these two cases to one side, the divergences that persist do not relate to the principles but rather to the mechanisms and instruments, and to the timeframes. The principle of parallelism between economic recovery and respect for the disciplines - especially in the eurozone - seems to be largely in the bag.
Real achievements. What has been said above could give the impression of consensus on the theoretical and abstract principles. Yet in fact the statements are of a general nature and are accompanied by a raft of decisions and texts that constitute a tangible basis and that, beyond the summit, are developed by the relevant institutions in accordance with Community procedures. European construction has never known a period so rich in accomplishments and new projects - covering all areas. The disciplines of the financial world are gradually being developed - like, for example, the rules on the astronomical and abusive bankers' bonuses. The principle of capping these bonuses is now virtually in the bag.
Growing role of the European Parliament. In this operational context it should be stressed how positive and irreplaceable the role of the Parliament has become. The way in which the main political groups accepted the overall provision of the 2014-2020 multiannual financial framework which was decided on by the European Council has proved their sense of responsibility, and the conditions they laid down show top level political skill. MEPs have understood that several member states that are obliged to absorb worrying or disastrous national deficits are not, for the moment, able to increase their payments to Europe. However, by accepting the ceiling, the Parliament has introduced firm conditions for the future - both from a political and financial point of view. Everything is still to be negotiated between the Parliament and the Council, but the Parliament's position is very strong because its requirements and conditions are justified and largely positive for the future of Europe. The heads of state and government must take this into account in the negotiations that are starting. This column will come back to the speech of the president of the Parliament at the opening of the last summit.
Meanwhile, the role of the Parliament is ever more active and valuable in the day-to-day management of Community activity. As co-legislator with the Council, the Parliament negotiates, discusses and improves both new legislation and common policies to be renewed - like the CAP - by defining compromises within its four walls that reconcile as much as possible the sometimes divergent positions between the political forces. Those in the minority vote against the compromise and maintain their position - this is the rule of democracy. Yet in its relations with the Council, the Parliament improves and generally enhances the initial drafts. The more the Parliament's powers increase, the better it uses them.
(FR/transl.fl)