European Summit: sustainable growth needs strong foundation / 23-05-2012

Europe needs fiscal stability for growth, and growth for stability. We can only get out of the crisis if we focus on both sides of the proverbial coin. Therefore the EPP Group proposes a package of measures which will restore credibility and, through that, boost growth. This was the main message of the EPP Group Vice-Chairwoman responsible for economic policy, Corien Wortmann-Kool, at the plenary debate on the forthcoming informal European summit on investment, growth and jobs.

Corien Wortmann-Kool said: "There will be no economic recovery without regained trust in our fiscal situation. At the same time and on this basis we want growth and structural reforms, which are essential to achieving this."

She continued: "We must restore confidence. Via three important areas, the EU can boost its competiveness, create jobs and recover economically. First is the Single Market, Europe's power station. We still lack full implementation of EU legislation on the Single Market. Full implementation of Internal Market rules could create an extra 2% economic growth for France alone. Next to this, we should focus on smart investments with the help of existing EU funding and a greater role for the EIB, notably through project bonds. We should focus on infrastructure, innovation and research: all those priorities that are the flagships of the 2020 strategy."

Mrs Wortmann-Kool ended: "With the new Six-pack legislation in force, the European Commission has a strong role in macro-economic surveillance. Our Group calls on the European Commission to be ambitious in their analyses of national reform plans and make both good and bad examples public."

(Portal Europe)