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 writing Transfers The money flows from Flanders to Brussels and Wallonia are called transfers. The transfers from the federal budget, the Financing Law and social security amount to between 6 and 7 billion euros per year, and 11 billion euros if debt repayments are included. The size of the transfers is always contested by the French-speaking side or they are just referred to as normal solidarity contributions. A study by Vives (KU Leuven) revealed that the transfers did not serve solidarity, but had a paralysing effect on the growth of both the Walloon and Flemish economies. transfers in 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.”