15/12/14
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European Commission President José Manuel Barroso outlined the steps toward a genuine economic and monetary union (EMU) at a conference in Brussels, Belgium.
The conference was held to further the debate on the Commission’s blueprint for deeper union
. Participants focused on economic governance, banking union and on democratic legitimacy and accountability.
"A lot of progress has been made over the last two years, more than anyone would have deemed possible before, but we were still missing a bigger picture of the changes or, even more, a sense of purpose to move forward on the road to complete the design of the EMU,” he said. “With its blueprint, the European Commission fills this gap and drives the agenda for a deep and genuine economic and monetary union.”
He added: "We do not have either the intention or the insolence to suggest we have all the answers. No - we want to start and fuel a democratic debate on where the future of Europe should lie."
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Commission calls for significant progress on completing the internal energy market and tackling growing tax fraud and evasion ahead of leaders’ meeting.
European Commission President José Manuel Barroso said a ‘functional federalism’ would protect the European Union’s shared values and way of life.
MEPs approved a package to reform the supervision of the EU's banking sector. The new rules would also cap banker's bonuses, curb speculative risk-taking, and step up capital provisions to help banks cope better with crises.
President Barroso welcomed the commitment at European Council to make progress on energy policy and tax evasion and fraud.
France’s president François Hollande has said France is willing to shape a new political union, as a matter of European urgency.
The EU Commissioner for industry outlined ways the industrial sector can guide the EU out of crisis.
The heads of some of the biggest British companies stated that the country needs to stay in the EU in an open letter to the Independent newspaper.
Mario Draghi, President of the European Central Bank, said that national policies alone are not enough to end the financial crisis.
The European Parliament called for greater democratic accountability and more action to address social problems as part of reforms to deepen European economic and monetary union.
The European Economic and Social Committee has called on the EU to launch a new European social action programme, with concrete measures to increase solidarity among member countries.
The liberal leader in the European Parliament, Guy Verhofstadt, called for far-reaching reforms to European governance.
Danuta Hübner, Polish MEP and former EU Commissioner for regional policy, says that recent crisis-driven reforms lack an overarching vision.
Francesco Nicoli from the European Policy Centre think tank analyses current reforms and future steps to strengthen European Monetary Union.
European Commission vice-president Viviane Reding called for “a thorough political and democratic deepening” of the current European Union.
President of the European Commission José Manuel Barroso calls for a “European consensus” among national leaders.
Romano Prodi, ex-president of the European Commission, is optimistic on opportunities for growth in Europe despite the current economic crisis.
The financial crisis has necessitated a substantial change in international policy cooperation, said Jörg Asmussen, Member of the Executive Board of the ECB.
The European Economic and Social Committee (EESC) calls for the urgent completion of the EMU and urgent reform across Europe.
Otmar Issing, a founding member of executive board of the European Central Bank, argues that centralisation of economic decision-making as an end in itself cannot underpin a prosperous and powerful Europe.
Michel Barnier, European Commissioner for Internal Market and Services, says that closer economic integration should be the catalyst for reinventing the European Union.
Maroš Šefčovič, Commission Vice-President for inter-institutional affairs and administration, calls for an overhaul of economic and monetary union in Europe.
Viviane Reding, Vice-President of the European Commission, calls for an end to the “Troika” – the emergency partnership between the European Commission, International Monetary Fund and the European Central Bank.
Leading Greek political commentator Nick Malkoutzis says Europe needs to develop a much clearer picture of what it is trying to achieve beyond improving its economic competiveness.
