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PES kick off work for a more sustainable, social and democratic Economic and Monetary Union

High Level representatives of the Party of European Socialists met today in Brussels with Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, to discuss the deepening of the Economic and Monetary Union (EMU). This is the start of a series of three meetings. A report will be presented in March 2016.

The participants of the PES High Level Working Group took stock of recent developments in follow-up to the Five Presidents' Report on Completing the EMU. They confirmed the need for deeper economic policy coordination for a stronger recovery, and welcomed recent improvements in the Union’s fiscal performance. They also stressed the need for a stronger social pillar of the EMU and called for more ambitious targets of economic and social convergence.  

The PES has been calling for the development of a Union that aims to achieve sustainable economic growth, ensures financial stability and safeguards the European Social Model. The PES calls for the Union to represent and cater to the needs of society and not just the market. This must be the final aim of the Economic and Monetary Union.

Maria João Rodrigues, chair of the High Level Working Group and Vice President of the S&D Group in the European Parliament, stated:

“Our political family has been leading the debate on the deepening of the Economic and Monetary Union since 2012. We have been able to introduce greater flexibility with regards to fiscal consolidation, we have successfully argued that economic growth requires ambitious investments, but a lot more remains to be done to strengthen the EMU and improve its functioning. We want the Economic and Monetary Union to deal effectively with social challenges, we want it to develop mechanisms that can bridge economic and social inequalities via greater convergence, and we want it to pursue an ambitious investment policy that can create new and good jobs. Europe is facing many challenges that we can overcome if we are coordinated, these are common challenges that need united solutions.”

She added: “This High Level Working Group will present ambitious proposals for better integrating the economies of the European Union’s Member States in a just and fair way”.

The High-Level Working Group will present its report to PES Heads of State and Government and party leaders as well as European and national parliamentarians. Participants to today’s meeting, among others, were:

 

Maria Joao Rodrigues

Chair of the PES High Level Working Group on the deepening of the EMU Vice President of the S&D Group

European Parliament

Pierre Moscovici

Commissioner for Economic and Financial Affairs, Taxation and Customs

European Commission

Jean Paul Buffat

Diplomatic Advisor to the Leader of the Party

PS, Belgium

Henrik Sass Larsen

Member of Parliament

SD, Denmark

Marco Piantini

European Advisor to the Prime Minister

PD, Italy

Rimantas Šadžius

Finance Minister

Chair of the PES ECOFIN Ministers network

LSDP, Lithuania

Henk Nijboer

Member of Parliament, Financial Specialist

PvdA, the Netherlands

Michal Polak

Adiser to the State secretary of the Ministry of Finance Ivan Lessay

SMER, Slovakia

Manuel de la Rocha

 

Economy Secretary of PSOE Executive Federal Board

PSOE, Spain

Charlotte Svensson

State Secretary in the Ministry of Finance

SAP, Sweden

Pervenche Berès

 

MEP, Member of the Committee on Economic and Monetary Affairs

Chair of the PES Social Europe Network

European Parliament

Udo Bullmann

MEP, Head of the German SPD delegation

S&D Group in the European Parliament

Jacob von Weizsäcker

MEP, S&D Group member of the Committee on Economic and Monetary Affairs

S&D Group in the European Parliament

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