European Semester for economic policy coordination 2024

Tabled by Manon Aubry

Added: 17a. Deeply regrets the return to austerity resulting from the fiscal rules agreed in the economic governance review; warns that these new rules will entail a massive, unrealistic and unsustainable fiscal adjustment by some Member States to comply with the imposed debt and deficit reduction criteria; underlines that France, for example, could be required to make an adjustment of up to EUR 24 billion per year over four years or EUR 16 billion per year over seven years; emphasises that such a steep reduction in public expenditure will have terrible social consequences, as it will be enforced through a squeeze of public services, leading to their deterioration, through structural reforms that weaken workers’ rights and social protection, and through chronic underinvestment in critical collective and public infrastructures, in line with the general orientation of the European Union’s economic governance so far;

Wording as published by the EP, in English. PE760.469