Statement of the Spinelli Group - European Shadow Council meeting 08.12.2011
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What is currently put on the table by the so-called Franco-German ‘Directoire’ to pull Europe out of its spiralling crisis is just not a solution.
The proposed Franco-German “small treaty change” is an illusion. Protocol adjustments are unacceptable precisely because they bypass all democratic institutions. Where
the protocol to be changed the European Parliament must challenge this in front of the European Court of Justice.
Growth in the USA demonstrates that the Union cannot stimulate growth only through austerity but that a massive public investment is also required.
Among the most urgent measures are :
• Implement the “6-pack” including the macroeconomic surveillance.
• The temporary pooling of debt over 60% of GDP in conjuncture with strict debt reduction targets (proposal of the German Sachverständingerat) and the creation of
a European Monetary Fund.
• Propose a roadmap towards the introduction full-fledged Eurobonds
• Enable the ECB in all independence to step up its action and/or provide the EFSF/ESM with a banking licence and the ability to purchase bonds.
Prior to any treaty change, all existing Treaty potentialities must be fully explored, including enhanced cooperation.