EUROZONE BUDGET: FIRST STEP, LONG WAY TO GO

Today’s decision of the Eurosummit to start a process to create a budgetary instrument for the Eurozone is a first step, but there is a long way to go” says Sandro GOZI, President of the European Federalists. “To really fix the shortcomings of the Economic and Monetary Union, bolder decisions are needed now on the use, size and governance of the Eurozone budget. And we should have the courage to call it that way!” 

The European Federalists recall their proposals in a letter to the members of the European Council sent before the meeting: 

1.     Size matters. A Eurozone budget needs to be sizable enough to make a difference and can’t be doomed to be too small because it is capped within the European Union budget. 

2.     The right use matters. A Eurozone budget should be used not only for promoting convergence and competitiveness of Member States’ economy but also for stabilization when one or more countries are hit by a crisis. 

3.     Democracy matters. New money for the Eurozone should not be managed by governments only. As the core of the EU, the Eurozone must also be democratic: the European Commission and the European Parliament should have on the Eurozone budget the same competences they have on the EU budget and also on how it is financed.

We urge the Heads of State or Governments to properly address these challenges and really take a final decision next June. European citizens expect reforms for a Europe that works and they won’t wait forever.

 

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The UNION OF EUROPEAN FEDERALISTS (UEF) is a pan-European, non-governmental, non-partisan political organisation dedicated to the promotion of European political unity since its foundation in 1946. Throughout the past 70 years UEF has been the leading voice in the promotion of European unity and an early campaigner for all key milestones in the development of the European Union. With its 30,000 members and 400 local groups organised in 25 national organisations, UEF is engaged in promoting a stronger, more democratic and federal Union with citizens, policy-makers and civil society organisations.

SANDRO GOZI is the President of the Union of European Federalists. He was Secretary of State for European Affairs in the Renzi and Gentiloni Governments (2014-2018) and Member of the Italian Chamber of Deputies (2006-2018). Prior to that he was a diplomat and spent more than a decade in the EU institutions, notably as a European Commission official (1996-2000) and then as member of the Cabinet of European Commission President Romano Prodi (2000-2004) and advisor to European Commission President Jose Barroso.

Press contacts:

Bruxelles: Valentina Presa, valentina.presa(at)federalists.eu +32.2.5083030

Rome: Lorena Vetro, vetrolorena(at)gmail.com, +39.338.7800683

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