• 16-SEP-2011

European Parliament and Council Strike a Deal on Economic Governance Package

EU governments and the European Parliament have reached an agreement on the economic governance package, with senior members of the EPP Group who negotiated the so-called 'six pack' saying the deal represented a major leap forward for the 27-nation bloc's economic future. Corien Wortmann-Kool, EPP Group spokesperson on economic and monetary affairs, told EPP TV that the agreement imposes strong rules on member states in order to ensure better coordination of economic polices, oversight of budgetary procedures and a preventive system to guard against the accumulation of excessive sovereign debt. Mrs Wortmann-Kool said the economic governance package would ensure a stronger role for the European Commission in policing the new measures and imposing sanctions against member states that fail to adhere to common standards for economic oversight. She praised the role of the EPP Group in he European Parliament for leading efforts to find agreement on the 'six pack' and she added that the compromise reached would be a strong signal to markets and to citizens that Europe's leaders were determined to take the steps necessary to restore confidence in the EU's economic governance. Available material includes an edited package with soundbites.