Brussels, 10/01/2000 (Agence Europe) - Speaking to journalists, German Social Democrat Christa Randzio-Plath, Chair of the European Parliament Committee on Economic and Monetary Affairs, announced that this committee would be holding a "dialogue" on 26 January with several representatives of European research institutes, namely Professors Horn of the Deutsches Institut für Wirtschaftsforschung, Sigogne of the Observatoire Français des Conjonctures Economiques, Roncaglio of Università La Sapienza, Layard of the London School of Economics, Modigliani of Massachusetts Institute of Technology, and Fitoussi of the Observatoire Français des Conjonctures Economiques. According to the MEP, the EU needs an annual report on the European economy that "is not based on government statistics alone", but should also be the result of economic forecasts by leading experts. "We are going to discuss these questions on Monday with the Chief Economist of the European Central Bank, Otmar Issing" (EUROPE will be back with details tomorrow on this meeting, Ed.), said Mrs Randzio-Plath, observing that the ECB is often critical, for example, of shortcomings in structural reform in Member States and that Members of the EP want to know on what basis such evaluations are made. "I hope the European Commission will accept the idea of involving economic research institutes in drawing up the annual report", she continued, adding that the Commission had promised to speak with Parliament before drawing up its next broad economic policy guidelines. Parliament, which will be putting to the vote in Strasbourg in March the Kariforis report on this subject, will also be holding a meeting before that time with the Economic and Monetary Affairs Committee, said Mrs Randzio-Plath.
Commenting on the substance of the issue, Mrs Randzio-Plath said the European Parliament is seeking: a) a real "growth" pact: "nobody wants to water down" the Stability Pact, but the tax revenues of certain Member States are such that it is possible to consider encouraging investment and cross-border infrastructures once again, she said, welcoming the attention the Portuguese Presidency plans to attach to the information society and education; b) a policy mix comprising common qualitative and quantitative objectives and placing greater emphasis on employment and social cohesion; c) adoption of the tax package. Answering questions, Mrs Randzio-Plath confirmed that, even if the Committee on Economic and Monetary Affairs must do its job, stating its view on all the reports on the table, she personally favours the idea of blocking legislation on the liberalisation of financial services until there has been a decision on taxation on savings. If concrete action is not taken, how else can pressure be brought to bear, she asked, noting that, if the use of such an instrument is being envisioned, there is obviously at least "1% hope" of obtaining results. The EP political groups will be discussing this subject, said Mrs Randzio-Plath, who is of the view that several groups feel drawn towards such an approach and that "several" Finance Ministers allegedly favour it.
In the forthcoming IGC, said the chair of the Economic and Monetary Committee, not only will there have to be talk of introducing majority voting in tax matters, but there must also be a question of securing changes enabling the European Parliament to play a greater role regarding the multilateral surveillance process, implementing the Pact on Stability and Growth and in the decision-making process regarding the broad economic policy guidelines. I hope that, during the Portuguese Presidency (on Tuesday, the Economic and Monetary Committee is to meet the President of EcoFin, Mr Pina Moura), and French Presidency, the European Parliament will secure a greater role in economic coordination, said Mrs. Randzio-Plath, calling for Parliament to take part in the informal ministerial meeting to prepare the special Summit of March on employment/economic reform/cohesion (an informal meeting of Social Affairs Ministers is to be held in Lisbon on 11 and 12 February) and the Employment Conference.