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Eurozone must not become a transfer union
Next week, a European summit will be taking place on European and Monetary Union (EMU). At the summit, European Council President Donald Tusk wants to shift things up a gear regarding financial reforms. However, the European Commission seems to be determined to push through a number of ideas about which the Member States are in anything but agreement. “Yes, we have to strengthen the eurozone,” says MEP Sander Loones. “But the Commission has to let go of the idea that this can only be done by setting up new institutions or writingin stone.”
No time to waste on ideas that don’t stand a chance
The opinions of the Member States seem to be converging on a number of financial themes, yet this is not the case for the request for European tax regulations, a eurozone budget or a European Minister of Economy and Finance. It is precisely those three points that are a spearhead for the European Commission. The N-VA wants to prevent these castles in the sky that stand no chance of success from eating up precious political time and energy.
Encouraging the responsibility of Member States
Sander Loones is therefore calling for solutions that strengthen the national responsibility of Member States: “The budget rules form the foundation of the eurozone, but it must not be allowed to become a transfer union. A eurozone budget would only encourage irresponsibility among Member States. There is also no point in having a European Minister of Economy and Finance as the economies of European countries are too diverse for that to work.”