EU President van Rompuy: We won € Battle +Build Econ Governance. AFCO Chair to EF: 6 Months crucial

 - "We (EU) won the Euro ( € Monetary currency) Battle, this Spring", and Now, after a Faster than expected Growth return, we "are Building the 1st Economic Governance" of Europe, stressed EU President van Rompoy, amidst intensive, Individual and Collective Meetings at EU Parliament in Strasbourg, (close to the Central EU Bank at nearby Frankfurt), where MEPs adopted today a Pioneer Financial Surveillance system, "the Best in the World" according to EU Commissioner Barnier, as 1st part of a"Packet" on a series of "Eco Governance" Tools, whose creation is scheduled during some 6 crucial Months, as the key Cthairwoman of EU Economic Committee (AFCO), Sharon Bowles, told "EuroFora" :

 

- Preferring to cite "Facts, No Perceptions", as he said, Herman van Rompuy, observed that, just during the "last 8 Months", (since Jan. 2010) , f.ex. we (EU) established a Financial Surveillance, created a brand-new "External Activities Service", to serve EU's Foreign Policy, set up ayt 110 Billions $ Packet for Greece, conditioned by strict Reforms, and we also prepared a 750 Billions € strong Financial Support of any EU Member State(s), "in case" it might, eventually, be needed in the Future : This calmed the markets", he noted.

-Thus, "our Economies are Recovering at an Unexpected Pace", even if, after having already dealt, "in the 1st Half or the Year" 2010, with some "pressing economic issues", now, "the work is not over yet". But, "the Efforts made, ... have started to produce Results : our Economies are in a Better shape Now", and "Confidence is coming back, slowly but surely, van Rompoy observed.

- But, from an Economic "Assessment" point of view, "perhaps it's a bit Premature to say that there was a Mass Recovery", because, at least "as long as the USA is not on the board, we cannot conclude on Full Recovery", particularly Worldwide, nuanced the Top German MEP Werner Langen.

(Topically, the experienced German MEP said that the same Day during which it was anounced that USA President Barack Obama's, "Economic Chief", Summers, was resigning from his White House job)...

- "Budgetary and Economic-Social Governance are both our 2 aims which must be always Linked", advised, meanwhile, the Leader of the Biggest Group of MEPs : ChristianDemocrats/EPP, Joseph Daul.

- "During the last 2 Years, (practically 2008-2010), we (EU) led a more Intelligent Economic Policy, than in the Past", van Rompoy stressed in conclusion :  

Because, in the Past, we (EU) didn't use the occasions offered during some 10 Years, and didn't start earlier  to get more Healthy Budgets, more Comptetitivity for our Economy, etc, and that caused problems during the Global Crisis.

But, since 2008, we (EU) started a risky Budgetary policy, stimulating Investment/innovation, and, when  Growth  succeeded to return Faster than expected, we started, asap, a progressive fiscal Consolidation stage, without abruptly disrupting a partly still continuing this year expansionist economic policy,  EU President explained on the Timely, but Careful, EU manouvering. And what we shall do "Now", aims to guarantee Sustainable Development, for a long period of time, while we (EU) also "introduced a Policy on Education, against Poverty, etc., and we keep a Cohesion Policy, Structural Funds, and I hope to really maintain them also in the MultiAnnual Financial Perspectives that we'll adopt, so that some Coherence is kept between various parts inside the EU

- In particular, the (EU) Commission is coming up with (Draft) Legislation at the end of the Month",  (i.e. around "29 of September", as its President, Jose Barroso anounced, earlier this Month, at EU Parliament in Strasbourg : See "State of the Union" Debate, on which we already published a partially related Article, added to specific DraftNews, already send earlier to "Eurofora"'s Subscribers/Donors).

- So, in all, "there are 6 files, of which 4 concern (EU) Parliament as Co-Legislator", she explained.

- That's why, we have to counter-act Quickly, to join that, as much as possible, and as Soon as possible", AFCO Chairwoman Bowles carefully but willingly concluded.

Concerning a real Legislative "Package", in fact, "all (its center-pieces) are important : You can't separate them out !", (f.ex. by claiming that only this, or that, might be "the more important"), the AFCO Chairwoman estimated, on the EU planned Economic Governance Mecanism's parts :

- "Because, (f.ex.) there are things dealing with how to conduct Surveillance, to see if (EU) Member States are making Improvements, if they act in the Right Way, (and), if they don't, then, "what do you do",  "what kind of Sanctions are you (EU) going to take, (f.ex. "how you (EU) adjust Member States' Votes"), etc. "And, you shall see, in my Report (largely adopted by EU Parliament's Plenary in Strasbourg on Wednesday), that you (EU) can use even Financial Surveillance (in order) to do that".

- Questioned by "EuroFora" on - "When will be the main Decisiion Time ?", AFCO Chairwoman Sharon Bowles, replied with something around "6 Months". - Because "I cannot see how we (MEPs - Governments) can get through Co-Decision (process) in Less than 6 Months",( i.e. leaving practically the ball for  next, Hungarian Jan. - June 2011 EU rotating Presidency),

- "Well, we (EU Parliament) have to wait and see : - If they (EU Commission's forthcoming Drafts) are OK, and (if) we don't have many Amendments... ", she carefully added, apparently, not excluding even earlier, (i.e. during the current, Belgian EU rotating chairmanship, up to December 2010, included).

- "But, I'm also concerned with the fact that there is also the Task Force", (set up by EU Council's President van Rompuy, and on whose preparatory work, due to conclude on October 2010, he reportedly focused his Strasbourg visit during EU Parliament's Plenary session) :

- "and then, the (EU) Council (perhaps) won't adopt a very "Fixed" Position, and that would make Negotiations and TriaLogue (i.e. EU Commissioners - MEPS - Governments' discusssions) much more Difficult : - So, we have to avoid that kind of Flop !", the AFCO Chairwoman Warned.   

        Several points from Sharon Bowles' Tuesday's statements to "EuroFora" were highlighted on Wednesday by EU President, van Rompoy himself :

- "I am Confident" that on October, EU Heads of State/Government "will draw the Final Right lessons of the (Global) Crisis", he stressed.

- "We (EU Member States) have a large consensus on some of the most important issues, like the macro-economic surveillance framework. This  will monitor and correct imbalances, risks of bubbles, and
divergences in competitiveness", he noted.

- " There is also agreement on strengthening national fiscal frameworks, enshrining European budget rules in national legislation and on the principle of what has been called the "European Semester".

- "We (EU Council) also made progress on sanctions, even if more work is needed".

(All)  this amounts to a strengthening of the 'Economic ' pillar of our .... Union", stressed Van Rompuy, anouncing that " a (Collective) meeting with 7of (EU Parliament's) Committee Chairs and the Leaders of ...(Political) Groups" discussed all that "yesterday" (Tuesday) in Strasbourg.

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An important 1st step in that larger Horizon, was made today, when EU Parliament adopted in Strasbourg  a key-part of the overall Mecanism : the Financial Surveillance, also in order to avoid in Future other such Global Financial Crisis mainly imported from the USA :

- "We (EU) build the Best System of Financial Supervision in the World !", praised in conclusion of a specific debate, the experienced twice EU Commissioner, former Minister, Michel Barnier...