EU Policy

The crisis in the eurozone has laid bare very clearly that a monetary union, without a political union to back it up, cannot provide the solid basis necessary in order to secure long term growth, stability and prosperity across Europe. Although the debt crisis in the eurozone periphery has had negative consequences across the whole continent it has also presented policy makers with the opportunity to correct those failures which were made at the introduction of the Euro and to ensure that a new framework is put in place which ensures the long term future of the common European currency.

Key demands of the economic council:

Introduction of tougher penalties for countries which run excessive deficits

Countries which break the rules and put the whole Eurozone at risk should face tougher sanctions in the future.

Adherence to the EU stability pact

Neither the tax payer by way of a permanent rescue fund, nor the ECB through its programme of buying government bonds, should be forced to rescue those countries which continue to implement poor fiscal policies. Economic mismanagement must have harsh consequences.

An EU-budget with a vision for the future

Instead of demanding an increase in taxes the EU should modernize its existing budget in order to better support growth initiatives. Innovation, industrial modernization and sustainable infrastructure projects must be prioritized.