Statement on the new economic governance framework

MEPs responsible for steering the economic governance legislative package through the European Parliament, along with the chairwoman and coordinators of its economic and monetary affairs committee on Wednesday issued a statement calling for clarity and concrete actions and raising the need to pay attention to potential overlaps with the ‘competitiveness pact’.

In the perspective of the Informal meeting of the Heads of State or Government of the Euro area on 11 March 2011, the European Parliament would like to underline that, in its role of co-legislator that the Lisbon Treaty conferred to it, the European Parliament intends to make entire use of those powers.

The Rapporteurs are currently working on the proposals adopted by the European Commission on September 29, 2010, based on the Community method. The competent committee and the whole Parliament in plenary will decide on the new legal framework for economic governance through a democratic vote. A healthy and fruitful discussion is currently ongoing in the European Parliament with around 1700 amendments having been tabled by MEPs from all political groups.

The discussions on a potential “competitiveness pact” between the President of the European Council and the President of the Commission clearly overlap with the “economic governance package”, mainly with the new macro economic imbalances procedure.

Given the gravity of the crisis, Europe’s citizens are awaiting clarity and concrete actions that should be embedded within a clear, coherent single framework.

The Parliament wishes the legislation to enter into force quickly and urges therefore the Commission, the European Council and the Council to take into account the position of the European Parliament and involve it in a transparent manner. It is only the position of the European Parliament that is developed through public and democratic debate.

Signatories:

Diogo Feio (Rapporteur, EPP), Corien Wortmann-Kool (Rapporteur, EPP), Elisa Ferreira (Rapporteur, S&D), Carl Haglund (Rapporteur, ALDE), Vicky Ford (Rapporteur, ECR), Sylvie Goulard (Rapporteur and Coordinator, ALDE), Philippe Lamberts (shadow Rapporteur, Greens), Sharon Bowles (ECON Chairwoman), Jean-Paul Gauzès (Coordinator, EPP), Udo Bullmann (Coordinator, S&D), Sven Giegold (Coordinator, Greens), Jürgen Klute (Coordinator, GUE/NGL), Kay Swinburne (Coordinator, ECR).