Economic governance "two pack": extract from the press conference
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Event date 20/02/2013
Short description Extracts from the press conference EP Committee on Economic and Monetary Affairs Background: A press conference was given by the two repporteurs of the Two-Pack Initiative, Elisa FERREIRA (S&D,PT) and Jean-Paul GAUZÈS (EPP, FR). Statement by Olli REHN (EC) and Eamonn Mac AODHA, Irish Ambassador in Belgium
Duration 03:58
Reference 91648
Background The next batch of EU economic governance legislation should do more to deliver growth and the European Commission's new powers to vet Eurozone countries' budgets will be better democratically controlled, thanks to a draft "two-pack" deal struck by EP and Council negotiators on Wednesday. It also lays down clear rules for countries seeking EU financial help. Parliament's amendments ensure that the new laws would do more to deliver growth. The Commission's country-by-country budget assessments will therefore need to be more comprehensive, to ensure that budget cuts are not made at the cost of killing off investments with growth potential.  The deal must now be approved by Parliament as a whole.  A vote is expected to take place in the second week of March and the rules will enter into force shortly thereafter.
Production format Pre-edited
Format 16:9
Copyright © European Union, 2013
Filename ebs91648[Lo-VI].mp4
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