On Wednesday 13 March, MEPs, meeting in plenary session of the Parliament, voted (387 votes in favour, 186 against, 50 abstentions) in favour of the own-initiative report by Tom Vandenkendelaere (EPP, Belgium) on the European Semester and the 2019 Annual Growth Survey calling for Member States to have sound public finances.
It should be noted that a series of amendments had been tabled, mainly by the GUE/NGL and ELDD groups, but none of them were adopted.
In this own-initiative report, MEPs urge the EU and its Member States to “take decisive and concerted action to deliver on the aim of inclusive and sustainable growth".
MEPs also call for a deepening of the EMU, which must be based on “efficient governance and democratic accountability”. Thus the report urges the step-by-step completion of the Banking Union, the development of a fiscal capacity for the euro area and the establishment of a “fully fledged capital markets union”. Work on these issues is also continuing at the Eurogroup (see EUROPE 12212/10).
In addition, the text calls for high-quality investments, particularly in innovation, R&D, sustainable mobility and infrastructure.
Finally, noting that “macro-financial stability and sound public finances remain a precondition of sustainable growth”, the own-initiative report calls on Member States with high levels of public debt or deficit to reduce them. (Original version in French by Lucas Tripoteau)