Key demands of the economic council:
Introduction of tougher penalties for countries which run excessive deficitsCountries which break the rules and put the whole Eurozone at risk should in future face tougher sanctions.
Adherence to the EU stability pactNeither 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.