EU-lidstaten eens over versterken economische samenwerking binnen eurozone (en)

At today’s ECOFIN meeting, minister for Economic Affairs and the Interior, Margrethe Vestager i, managed to achieve political consensus on the Presidency’s compromise proposal regarding the so-called “two-pack”.

The Danish Presidency continues to create results. At today’s ECOFIN meeting, minister for Economic Affairs and the Interior, Margrethe Vestager, managed to achieve political consensus on the Presidency’s compromise proposal regarding strengthened cooperation on healthy economic policy in the euro countries, the so-called “two-pack”. Additionally, the ministers of economics and finance adopted a strong joint EU mandate to bring in the suitcase when the Danish minister travels to Mexico to represent EU at the G20 meeting for ministers of finance and central bank governors 25-26 February 2012.

Today, Denmark’s Minister for Economic Affairs and the Interior, Margrethe Vestager, received support for the Danish Presidency’s proposal for political agreement on the two legislative proposals concerning strengthened euro area cooperation; implying on the one hand, budget plans aimed at ensuring a healthier economic policy, and on the other hand, strengthened surveillance of euro countries facing financial difficulties (the “two-pack”).

With political consensus in the Council, the Danish Presidency is ready to initiate negotiations with the European Parliament.

Margrethe Vestager says:

“With the political agreement on the two proposals we have reached an important result which will help ensure healthier economic policies in the euro countries. This is an essential piece of the puzzle that is missing to complete the economic governance reform that came into force at the turn of the year and which we are putting into practice during the Danish Presidency. After today’s political agreement in the Council, I hope that we will be able to reach an agreement between the Council and the European Parliament on the two proposals in the course of this semester, so that the two proposals can enter into force before the countries present a nd adopt their budgets in accordance with the national budget processes during the autumn”.

As part of the European Semester, the countries also initiated the implementation of the new cooperation concerning the prevention and correction of macroeconomic imbalances.

Margrethe Vestager says:

“The joint effort to prevent and correct economic imbalances is one of the great innovations in the economic governance reform and it is an important and necessary supplement to the fiscal rules of the Stability and Growth Pact. The innovation is that we - in addition to the joint effort to get the public finances back on track - also have to focus on other imbalances such as competiveness problems, current account deficits, housing price bubbles etc. The fact is that the crisis showed us that even countries that in good years appear to have healthy public finance, can get in trouble if imbalances build-up elsewhere. We will return to this issue at our next meeting 13 March and later during the Danish Presidency as the plan is to adopt recommendations for countries with significant imbalances”.

At today’s ECOFIN meeting, EU’s ministers of finance and economics also adopted council conclusions that will serve as input to the meeting of Heads of State 1-2 March. The council conclusions are based on the Annual Growth Survey and focus on the most important priorities to secure fiscal sustainability, financial stability and economic growth. They also adopted Council conclusions regarding the partaking countries’ commitments under the EuroPlus Pact. In the conclusions, it is - among other things - emphasized that the countries’ commitments should focus on the most important reforms.

Finally, the ministers prepared Terms of Reference for the upcoming G20 finance ministers and central bank governors meeting in Mexico 25-26 February 2012. The agreed Terms of Reference will serve as the EU delegation’s mandate and among other things underlined the EU countries’ commitment to a substantial increase in IMF’s resources. At the G20 meeting, the EU will be represented by Minister for Economic Affairs and the Interior, Margrethe Vestager, in her capacity as ECOFIN chair woman, and by the Commission.