Tuesday

30th May 2017

Prodi to explain why Euro Pact is 'stupid'

Commission President Romano Prodi has accepted the invitation of the European Parliament political groups to address a debate on the Stability Pact in the Strasbourg plenary session on Monday, even though the Commission is already going to be represented by Economic and Monetary Affairs Commissioner Pedro Solbes. Although the European Parliament said that this debate had been foreseen for some time, it said that it wanted to give Mr Prodi a chance to clarify "apparent misunderstandings" after he recently referred to the Stability Pact as being "stupid".

Credibility of Stability Pact being tested

President Prodi on Friday 18 October received letters from the President of the political groups in the European Parliament asking him to address Monday's debate on the Stability pact. President of the Christian Democrats, Hans-Gert Pöttering expressed "great astonishment and disbelief" at Mr Prodi's comments on Thursday, saying it was a "grave mistake" which could "cause great damage to the European currency and undermine the economic and political trust in it."

Solbes: Stability Pact flexible enough

Dear EUobserver reader

Subscribe now for unrestricted access to EUobserver.

Sign up for 30 days' free trial, no obligation. Full subscription only 15 € / month or 150 € / year.

  1. Unlimited access on desktop and mobile
  2. All premium articles, analysis, commentary and investigations
  3. EUobserver archives

EUobserver is the only independent news media covering EU affairs in Brussels and all 28 member states.

♡ We value your support.

If you already have an account click here to login.

EU Commission President Prodi had commented against a strict implementation of the Stability and Growth Pact. However this left the economic affairs Commissioner Solbes trying to dismiss the rigidity of the Pact. "With various initiatives over the last three years the Commission has proved that the Stability and Growth Pact is flexible enough to accommodate policies that make economic sense. Of course no flexibility can accommodate bad economic policies," he said on Friday in Barcelona.

Hans-Gert Pöttering said in his letter that the Commission President's remarks reveal the obvious split within the Commission and its loss of independence from pressures of some larger member states. "If you feel that the right of initiative enables the Commission to depart from the unanimous decision taken on the Stability Pact without even consulting the European Parliament, this clearly demonstrates a breach of confidence which cannot stand uncommented," said Mr Pöttering in his letter.

Enrique Barón Crespo, the European Socialist President, also sent a letter to President Prodi on Friday, asking him to attend the debate in Strasbourg on Monday "in order to explain, in public and before the Parliament, your position on this issue, and to bring the debate into its inter-institutional context."

Portugal held up as symbol of EU recovery

Portugal to sail out of troubled waters after eight years of financial crisis, EU commission predicted, amid broad but "fragile" recovery in European economy.

Stakeholders' Highlights

  1. Centre Maurits CoppietersWhat's Going on in Catalonia? Join the Debate on 8 June
  2. Swedish EnterprisesDo We Need a More Social Europe? A Lively Debate Awaits You on 7 June
  3. Centre Maurits CoppietersDiscover the Role of Feminism in the Peripheries of Europe on 9 June
  4. Malta EU 2017EU Group Launched to Focus on Priorities and Policies Concerning Children
  5. UNICEFChild Alert on Myanmar: Fruits of Rapid Development yet to Reach Remote Regions
  6. Nordic Council of MinistersBecome an Explorer - 'Traces of Nordic' Seeking Storytellers Around the World
  7. European Healthy Lifestyle AllianceHigh-Intensity Interval Training Is Therapeutic Option for Type 2 Diabetes
  8. Malta EU 2017Closer Cooperation and Reinforced Solidarity to Ensure Security of Gas Supply
  9. Dialogue Platform"The West Must Help Turkey Return to a Democratic Path" a Call by Fethullah Gulen
  10. ILGA-EuropeRainbow Europe 2017 Is Live - Which Countries Are Leading on LGBTI Equality?
  11. Centre Maurits CoppietersWhen You Invest in a Refugee Woman You Help the Whole Community
  12. Eurogroup for AnimalsECJ Ruling: Member States Given No Say on Wildlife Protection In Trade

Latest News

  1. Nouvelles suspicions sur le groupe de Le Pen au Parlement européen
  2. EU sets out demands on post-Brexit people's rights
  3. IT security system risks EU fundamental rights
  4. Macron and Putin hold uneasy first talks
  5. From Greece to Scotland, we stand by Europe
  6. Juncker keen to build EU 'bridge' to Trump
  7. Ministers water down post-Dieselgate reform
  8. Club de combat: des espions russes recherchent des recrues européennes