Group of the Progressive Alliance of Socialists & Democrats
S&D Euro MPs today welcomed EU leaders' decisions to boost growth and investment and to move towards an integrated system of banking supervision in Europe.
Commenting on the results of the summit, S&D Group leader Hannes Swoboda said: "This summit has said goodbye to Merkozy. A different Europe is now on track.
"For the first time, EU leaders not only talked about growth but decided on concrete actions. The implementation of these measures will take time, but the signal is very important.
"Social-democrat leaders' insistence to back fiscal discipline with concrete measures to promote growth and employment made a difference compared to previous summits.
"François Hollande's leadership with the support of other Social-democrats as well as Mario Monti helped to overcome the resistance of Chancellor Merkel. Conservative narrow-mindedness starts to falter".
First step towards European supervision of banks
Hannes Swoboda also welcomed first steps towards European banking supervision.
"I welcomed the steps taken concerning the debts, the interest rates and the spreads. It is important to have a more active Stability Mechanism (ESM) and European Central Bank. These issues have been on the table for months now and a lot of resistance had to be overcome. Let's hope now that these measures will convince the markets about the sincerity of Europeans to defend our common currency.
"Concerning the common European supervision of banks, The European Parliament made the proposal some time ago but it was rejected by member states. The S&D group is ready to do its outmost reach decisions quickly.
"We urged the Council to act quickly and agree on a common line concerning the details of such supervision.
"Despite these new steps, the socialists and democrats believe that the EU should have a serious discussion on an efficient model of a redemption fund as proposed by the European Parliament.
"Such a mutualisation of credits can be combined with individual responsibility of each country to pay back its share of the common credits. This is the only way to beat the crises in the long term", he concluded.
Solange Hélin Villes
+ 32 2 283 21 47
+ 33 3 88 17 47 79
+ 32 476 51 01 72
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
'This Summit has said goodbye to Merkozy', says Hannes Swoboda. 'For the first time, EU leaders not only talked about growth but decided on concrete actions. The implementation of these measures will take time, but the signal is very important. Social-democrat leaders' insistence to back fiscal discipline with concrete measures to promote growth and employment made a difference compared to previous summits'
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