Maltese MEP Alfred Sant said that Europe needs economic solutions that satisfy citizens’ aspirations across the continent. The economic framework of rules and policies is too complex and too abstract for ordinary citizens to comprehend, while underlining the fact that politically results were not good across the EU. Dr Sant’s intervention came during an exchange of views on the European Commission’s opinion on the Draft Budgetary Plans of eurozone members and the fiscal stance for the eurozone with Commissioner Valdis Dombrovskis: Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union and Commissioner Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs.
Dr Sant asked whether the policies, rules and methodologies the European Commission is using to coordinate the economic priorities/policies among member states were outdated and sophisticated and whether this could lead Europe into another economic crisis.
Dombrovskis and Moscovici, reacting to Dr Sant’s comments, said they agreed the EC should come out with responses that satisfy European citizens and that for this reason they will launch debates to adjust economic institutions within the EU during 2017.
“All of us here are in democratic politics. Which means that the ultimate test of what we try to achieve happens when people vote in elections or referenda. The thrust of what we have been saying here and elsewhere up to now is that we need more of the same, in application of Stability and Growth Pace (SGP) rules that we all subscribe to. No matter what is being done on this basis, it is too complex for the ordinary citizen to be able to follow, too abstract for him or her to comprehend. Understandably, you would prefer that we look at the half of the glass that is full. But voters disagree.” remarked Dr Sant.
The Maltese MEP said that in terms of the ultimate political test, results are very bad. “Over the past twelve months, among others, there was prolonged political stalemate in Spain, two Prime Ministers had to resign and a President was forced to leave politics. The populists, if not the barbarians are at the gates. As politicians, are you satisfied with this outcome? Don’t you think we need an urgent rethink of our priorities? Don’t you feel like you’re guiding the Titanic into the icefield, while using outdated if sophisticated instruments?” asked the Maltese MEP.
Commission Vice President Valdis Dombrovskis told Dr Sant :"You are right, indeed we need to respond to citizens' concerns, we need to make our economic growth more inclusive; For this reason we have been putting a social dimension in the EU semester and this year we are also putting emphasis on income inequalities; We have to come with responses that satisfy citizens".
Commissioner Moscovici told Dr Sant that Europe needs a deeper Economic and Monetary Union (EMU) if we want to create convergence. “We are going to reflect on this in the framework of the White Paper that will be delivered next year in the context of the 60 anniversary of the Treaty of Rome. The problem is not that the Euro zone as such is creating recession. But some instruments lack for the Euro zone to be capable to bring strong economic results".