Group of the Progressive Alliance of Socialists & Democrats
Discussions held at yesterday's informal EU Summit were again disappointing and lacking political willingness from Conservative governments to go forward. While Socialist leaders came up with concrete proposals for an alternative way out of the crisis, Conservative leaders, headed by Chancellor Angela Merkel, persisted in preventing real solutions.
Commenting on the Summit Hannes Swoboda, S&D Group President, said:
"This Summit showed that having François Hollande as the new French President amongst the European leaders makes a clear difference. Angela Merkel will no longer be able to get away with her one-sided austerity policy.
"François Hollande and other Socialist and Democrat leaders are right in demanding mechanisms to reduce enormous interest rates. These create an overall debt burden and particularly on those countries in difficult economic conditions".
With regard to the debate about the legality of Eurobonds in Germany Hannes Swoboda continued:
"There are definitely several ways to overcome legal objections in Germany concerning Eurobonds as such".
With a view to the EU Summit in June and concrete action to promote growth he said:
"It is now up to the EU Commission to propose a form of mutualisation of debts such as a redemption fund, which would need to be acceptable to all. Such a fund would significantly reduce the debt burden so that countries could once again invest in growth and employment.
"Angela Merkel should refrain from using the legal arguments as a principle objection against a possible reduction of the debt burden. If she maintains her blocking position, the June Summit will be a disaster, both economically and politically. This would be a devastating message especially to countries in economic difficulties such as Spain or Portugal".
Calling for clear signals to Greek citizens, S&D President Hannes Swoboda concluded:
"Declarations are not enough, we must give clear signals. If the Greek citizens elected a responsible government, an improved and a more socially-balanced reform package could be offered. This should also include a stretching of the timeframe in reaching the agreed budgetary targets".
S&D Press contact: Utta Tuttlies
Head of Press and Communications
Spokesperson of the Group Leader
+ 32 2 284 37 44
+ 33 3 88 17 29 98
+ 32 473 85 34 07
Contact
SWOBODA Johannes (Hannes)
+ 33 3 88 17 57 16
+ 33 3 88 17 97 16
+ 32 2 284 57 16
+ 32 2 284 97 16
hannes.swoboda@europarl.europa.eu
+ 33 3 88 17 57 16
+ 33 3 88 17 97 16
+ 32 2 284 57 16
+ 32 2 284 97 16
hannes.swoboda@europarl.europa.eu
Associated media
Conservatives must end blocking progress in Europe - Socialists & Democrats lead alternative agenda out of crisis. Commenting on the Summit Hannes Swoboda, S&D Group President, said: 'This Summit showed that having François Hollande as the new French President amongst the European leaders makes a clear difference. Angela Merkel will no longer be able to get away with her one-sided austerity policy'
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