9
May
2023
Watch
Revision of the Stability and Growth Pact (debate)
Mr President, this process will bring to an end useless and counterproductive rules that have harmed the economy as a whole and, in particular, the economy of several Member States of the Union. But the proposal we have here does not make what was one of the key points in the terms of reference of this review: investment protection. The European Commission wants countries to invest more in the green and digital transition, but it does not provide any flexibility mechanism for this to be done, contrary to what was requested by the European Fiscal Board. First proposal: defend, protect, within the framework of the rules, public investment in public services, the green transition and the digital transition. On the other hand, this proposal establishes a permanent redemption scheme. Once again, we have technicians taking decisions that belong to democracy, overlapping with the programmes of democratically elected governments, including defining a macroeconomic trajectory that is, of course, a political choice of the utmost importance. Second proposal: the focus. If we really want to talk about national ownership, if we really want to talk about respect for democracy, then every aspect of each country's plan, starting with the macroeconomic trajectory, has to be defined by that country's democratically elected governments. Third question: the definition of reform and investment plans. In the Commission proposal, the final decision will always lie with the Commission and the Council, creating quasi-colonial power for some Member States and for the Commission over sovereign countries. Third proposal: the final decision should be left to the national parliaments, within the framework of economic policy criteria to be discussed in the European Parliament. Let's put democracy at the center, which is its place.