EP president cites need for effective economic governance

08:29, June 18, 2010      

Email | Print | Subscribe | Comments | Forum 

The European Union needs more effective governance and cooperation from all 27 member states to avoid a future economic crisis, officials said Thursday.

"We have to complement the monetary union with an economic union, with coordination of our fiscal and financial policies and by doing this to build the foundations of a strong exit from the crisis," Jerzy Buzek, president of the European Parliament said after a one-day EU summit.

Buzek also said at the news conference that in the future there needs to be stronger links between the instruments of the Stability and Growth Pact, the EU's macro economic instruments and the Europe 2020 strategy.

The EU must recover from a lack of trust, Buzek said, and continue with its budgetary fiscal reforms.

"We have to do the right thing and not just the convenient thing," Buzek said.

The president said, however, that the parliament has to be more involved in the process of decision-making concerning economic governance.

Buzek lamented that the decision that allowed the European Commission to raise money in the financial markets for EU member states with public finance problems was made without consulting the parliament.

"In the future, we insisted that the European Parliament be consulted in the process," he said.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion