EU economic governance

Today the leaders of the political groups in the European Parliament insisted that the strengthened European economic governance should be based on the "Community method" and not on the intergovernmental one.

During a meeting with the chairman of the Eurogroup, Jean-Claude Juncker, they supported his endeavours and stressed that he should be responsible, together with the European Commission and the European Central Bank, for the oversight of economic governance that particularly affects the economies linked by the Single Currency.

They believe that the Eurogroup is best placed to take the collective decisions vis-à-vis the need for individual Member States of the eurozone to adjust their budgetary and economic planning to ensure that the European economy as a whole is strengthened.

Parliamentary leaders also consider that closer cooperation and involvement with the European Parliament in the process is important for democratic accountability and transparency.