
Rethinking the Budget introducing own resources
In order to provide greater investment in areas where it is most needed, and to make use of the huge economies of scale the Union can provide, some form of EU long term financing is required. More specifically, the question of the Union's revenues needs to be addressed. The long overdue budget review is required in order to overhaul the Union's financial system. The only way to end the entrenched debate between those countries that contribute and those that receive is the introduction of genuine own resources. This will also involve the citizens directly with the European budget debate.
The euro is also of vital importance and in the crisis has proved that the Union stands stronger together. We need to move fast towards the extension of the euro zone thereby bringing much needed stability to some of our newer Member States. Whilst investment in infrastructure is currently required in order to pull us out of recession the precept of the stability pact must not be forgotten and all Member States must demonstrate their commitment towards renewed fiscal rectitude.
Single European banking supervisor essential to unblock direct bank recapitalisation
Today the European Commission adopted the long awaited proposal for the creation of a European Banking union. Already in September 2009, when the Commission presented its proposals revising the structures for macro and micro...
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Backtracking on EU summit plan for Eurozone is irresponsible
Commenting this morning as Eurozone finance minsters prepare to meet to start putting flesh on the bones of the European Council conclusions of 29th June, Guy Verhofstadt (Liberal and Democrat group leader in the European...
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Verhofstadt welcomes draft plan for EU fiscal union
Commenting today on proposals drawn up by Messrs van Rompuy, Barroso, Draghi and Juncker to submit to EU leaders at the end of the week, Guy Verhofstadt, Liberal and Democrat group leader, said:
"Not before time, concrete...
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