Brussels, 20/04/2001 (Agence Europe) - The EP Economic and Monetary Committee adopted the report by the Greek Socialist Giorgios Katiforis on the annual assessment of the implementation of the stability and convergence programmes by the Member States, report which will be discussed in plenary on 3 May, in Brussels.
Following its rapporteur, the Committee underlined that the Member States must continue their efforts in view of mastering public spending, but, at the same time, it felt that investments, both public and private, are needed of they want, as foreseen by the Lisbon strategy, to make Europe that most dynamic and competitive economy in the world. Mr Katiforis notably spoke for a use of public borrowing, following the example set by the United Kingdom (where the golden rule allows deficits to temporarily cover public spending in certain areas). Only ten Member States have been able to achieve a balanced budget, while public debt remains at an unacceptable level in the others, noted Mr Katiforis.