Strasbourg, 16/05/2002 (Agence Europe) - With the adoption, on Wednesday in Strasbourg, by 380 votes to 95 and 50 abstentions, of the report by Ioanis Marinos (EPP-ED, Greece), the European Parliament restated its attachment to the Stability and Growth Pact. It notes that, during the examination of the German and Portuguese programmes by the Ecofin Council in February, "there was not strict application" of the Pact. It also notes that a similar attitude caused doubt as to the credibility of the Pact and could lead to unequal implementation.
The Parliament rejected by a large majority an amendment of the Socialist Group calling for a review clause to be introduced into the Pact to allow Member States to amend their stability and convergence programmes to respond to "economic fluctuations". Socialists would also have liked the Pact to contain elements allowing for economic growth to be fostered (a "positive coordination and active promotion method for growth") (See yesterday's EUROPE for the debate on the Marinos and Trentin reports, pages 11 and 12).
Furthermore, the Parliament considers the legal flow of immigrants whose average age is relatively young may help in the short and medium term to limit the negative effects that population ageing will have on public finance. Voting 277 for, 213 against with 11 abstentions, it also insists on the need to assess and recognise population-related challenges in the stability and convergence programmes of Member States, "as requested in the Presidency conclusions" at the Barcelona Summit.