Following the presentation of the European Commission’s proposals to complete the Economic and Monetary Union, CEEP General Secretary Valeria Ronzitti commented:

“We believe that the European Commission has fulfilled its commitment to swiftly complete the Economic and Monetary Union. Following the presentation of today’s package, it is now up to the Council and the Member States to pick up the issue and move forward. The December EuroSummit will be an important moment to create a momentum on this issue, and show a joint political will to move ahead.”

“To create a macroeconomic stabilisation function, CEEP emphasised a clear support for a European Investment Protection Scheme as a tool to give a clear stabilisation function while protecting key investment for the future. We welcome the proposal of the Commission to create such scheme, as this option is truly future-oriented.”

“We also acknowledge the need to integrate the substance of the Treaty on Stability, Coordination and Governance (TSCG) into the Union legal framework. However, explicit references to the flexibility must be integrated and should be an integral part of the future TSCG. The current ‘conceptual approach’ is far from being enough.”

“Finally, we hope that the proposed new European Monetary Fund will allow to better reconcile the Member States’ stability needs, while supporting the recovery of the European economy.”

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