Completing EMU: The political pillar

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Opinia EKES-u: Completing EMU: The political pillar

Key points:

  • The EESC is of the opinion that persisting imbalances as well as the creation of trust and confidence across Europe require more effective and democratic economic governance, notably in the Eurozone.
  • The EESC realises that decisive steps cannot be taken overnight, but at the same time Europe cannot afford to put decisions off for years. To that end concrete steps can be undertaken within the framework of the current Treaty and rules. In the medium-long term a revision of the Treaty should bring the institutional provisions in line with the indispensable requirements of a real economic and political Union.
  • It has become clear that the current system of rules underpinning the EU, and particularly the euro area, has created confusion on the legal, institutional and democratic fronts. A new approach is therefore needed. The Committee deems it essential to deepen the process of integrating the euro area.
  • With this in mind, the Committee would like to present a roadmap comprising the following steps:

1st step

  • Stable Eurogroup president;
  • Making the Interparliamentary Conference operational;
  • euro area (EP Grand Committee).

2nd step

  • EMU Legislative Affairs Council;
  • Voting by euro area parliamentarians on matters of EMU competence;
  • An EMU executive;
  • Strengthening the powers and remit of the Interparliamentary Conference.

3rd step

  • Strengthening the powers of the EP with regard to EMU and the creation of real European political parties;
  • Chamber of the States;
  • Separation between legislative and executive powers;
  • Abolition of unanimous voting.
  • The following initiatives should be taken to prepare for and implement the steps set out above:
  • Civil society conference;
  • Interparliamentary conference;
  • EP proposals for action without Treaty change and for a revision of the Lisbon Treaty;
  • Constitutional convention;
  • Potential evaluation of option of pan-European referendum.

(See tables in the text of the opinion.)

Downloads

Preparing for Next Steps on Better Economic Governance in the Euro Area - presentation by Baudouin Regout (European commission)

Completing Political Union: How the Euro-Union could work - presentation by Ulrike Guérot (The European Democracy Lab, European School of Governance, Berlin)

The political and institutional aspects of further euro area integration - presentation by Elmar Brok (European Parliament)

The political and institutional aspects of further EMU area integration - presentation by Bernard Snoy (ELEC)

The political and institutional aspects of further euro area integration - presentation by Johannes Lindner (ECB)