Brussels, 10/12/2014 (Agence Europe) - The S&D group at the European Parliament says that public money to finance projects selected under the European Commission's Strategic Investment Plan (Juncker Plan) should not be included in the calculations to assess respect of the Stability and Growth Pact.
“We should take a further step forward from Juncker's plan to give member states more effective ways to manoeuvre in the Stability and Growth Pact (SGP): 1) Neutralisation of the national contribution to the European fund for strategic investments; 2) Neutralisation from the SGP of national contributions to the EU projects selected in the plan,” explained the head of the S&D group at the European Parliament, Gianni Pittella of Italy, in a press release on Tuesday 9 December. He added that the European Summit on 18 and 19 December “could be crucial” for adjusting the SGP in this way, which would not require any changes to the SGP legislation.
Speaking after a meeting with leading Social Democrats such as the vice-chancellor of Germany, Sigmar Gabriel, French finance minister Michel Sapin and the president of the EP, Martin Schulz of Germany, Gianni Pittella said one must “Bear in mind that nowadays a mere diligent accountant's approach would represent the best ally of populists and Eurosceptics across Europe. The EU cannot just be the pitch for an additional 0 battle. This would be blind and strategically wrong. Long term political strategy has to prevail.” He added: “The European economy is one and as one can recover only if member states will have the possibility to concretely relaunch their economies, implementing at the same time effective and significant reforms.”
Macron Law. On Wednesday 10 December, the French socialist government unveiled a draft law to boost the economy and demonstrate to its European partners that France is serious about reform. It wants to ensure that the Macron Law, that will be introduced early next year, will be taken into account when the Commission assesses French efforts to reduce macroeconomic imbalances.
The law introduces de-regulation (revising the tariffs levied by regulated professions, opening up for competition the supply of coach transport services and boosting demand for intermediary housing), encourages investment (speeding up big projects such as Grand Paris, extending share ownership amongst employees, boosting enterpreneurship, putting savings from salaries to work to finance the economy, opening up the capital of public bodies such as the airports of Lyon and Nice) and reforms labour law (allowing shops to open at the weekend and later in the evening and reforming the labour-related justice system). (MB)