EU Stability Pact: SPD parliamentary deputy calls for swift reform

Achim Post

The SPD parliamentary deputy wants quick reforms. In particular, the EU’s joint ability to act politically will play a major role in the coming months.

(Photo: imago/Reiner Zensen)

Berlin With a view to the French EU Council Presidency starting on January 1st, the SPD parliamentary group vice-president Achim Post has called for the federal government to reform the European Stability and Growth Pact quickly. “It is now a collective responsibility of the federal government to actively use the European political leeway of the coalition agreement,” said the SPD politician to the Reuters news agency on Friday. “It is also and especially necessary to work swiftly on joint solutions for difficult issues – such as the further development of the Stability and Growth Pact, the completion of the banking union, the socially fair implementation of the European climate package or the long overdue reform of the EU -Migration policy. “

France and Italy are calling for the stability pact to be reformed in order to be able to take out more loans for investments. The EU Commission has initiated a review of the Stability Pact. Countries from the center and north of Europe are warning of a weakening of the rules that set upper limits on debt, but were suspended in the Corona crisis. Chancellor Olaf Scholz (SPD) had emphasized that the previous flexibility of the pact was sufficient for necessary investments.

In addition to monetary policy, the joint political ability to act in the euro area will become even more important in the coming months and years, the SPD parliamentary group vice-post now warned. Germany and France have a special responsibility here. French President Emmanuel Macron will have to run for the spring presidential election. France will hold the EU Council Presidency in the first half of 2022.

More: The euro has withstood a lot of criticism – and is still a debt burden

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