European Parliament leaders unite in call for decisive plan for eurozone crisis
12 October 2011
The EP's political leaders today put aside any ideological differences in a joint call to the European Commission and EU leaders to agree a decisive and comprehensive plan for getting on top of the ongoing financial crisis that is dragging down both the European and the wider global economy.
The leaders of the European People's Party, the Socialists & Democrats, Liberals and Democrats and Greens have all put their names to a joint resolution, due to be approved tomorrow, calling for an eight-point plan which includes, as a minimum, the following elements:
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A European plan for the recapitalisation of the banks that includes conditionality rules;
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Bringing the EFSF (and future ESM) under the EU institutional framework;
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Meaningful investment plan for growth and jobs, including use of project bonds;
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Proposals to better coordinate and harmonise elements of national tax systems, especially to fight against fraud and evasion;
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Stronger and more efficient mechanism for enforcing Single Market legislation;
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Clear and coherent structure for economic government for the eurozone, based on the Community method;
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Proposals to complete the overhaul of financial market regulation;
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A report on the setting up of a system of common issuance of European sovereign bonds.
Daul, Schulz, Verhofstadt and Harms also underlined that such plans and related measures must emphasise the need for legitimacy and accountability through the close involvement of the European Parliament, especially with regards any future system of economic government.
Press release
© ALDE
