Leaders putting national interest ahead of Europe

Amplify’d from euobserver.com

‘Leaders putting national interest ahead of Europe,’ says EU Parliament

EUOBSERVER / BRUSSELS – The centre and left of the European Parliament have robustly condemned the outcome of the European Council, complaining that the interest of the bloc as a whole has been sidelined in favour of national interests.

„The Conservative leaders are fundamentally mistaken. Yet again they have failed to take control of the crisis,” said Poul Nyrup Rasmussen, the former Danish prime minister and leader of the PES. „The reaction of the Markets illustrates this clearly.”

EU Council had put itself in „direct conflict” with the parliament over its refusal to countenance any move towards debt issuance at the EU level.

„The German, British, Swedish and Dutch Governments formed a roadblock to progress on the eurobonds issue. So blatantly putting national interest before European recovery is short-termist and lacking in leadership,” he said.

„EU leaders may well be hoping that adjusting the wording of the Treaty is sufficient but this will not absolve them from taking a bolder, global approach in the near future leading to three concrete reforms,” he continued.

Specifically, the Liberals want automatic sanctions for excessive deficits, a eurobond market and fiscal union – common fiscal decision-making – across the bloc.

According to a parliamentary legal expert, if the European Council itself develops the mechanism on an ‘intergovernmental’ basis, and the fund is similar to the existing €440 billion rescue mechanism, which involves a series of loan guarantees by member states, then the chamber will only be consulted, as with the treaty change.

Co-president of the Greens, German MEP Rebecca Harms, attacked her own prime minister, as „blinkered” saying: „Today’s summit, under pressure from a blinkered German chancellor, has simply kicked the can down the road again and failed to offer a definitive and urgent response to the Eurozone crisis.”

„With the very survival of the euro at stake, we need urgent measures to prevent the contagion from spiralling totally out of control,” she continued. „Against this background it is dumbfounding that Chancellor Merkel continues to resist the logical call for eurobonds to buttress the Eurozone, as well as increasing the crisis funds available.”

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