During the EP plenary session (21-24/11) in Strasbourg, MEPs debate on the decision adopted on the European Semester package including Annual Growth Survey 2017. Statements by Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue, Gunnar H&Ouml;KMARK (EPP, SE), Gianni PITTELLA (S&amp;D, IT), Sander LOONES (ECR, BE), and Lieve WIERINCK (ALDE, BE).

Strasbourg

debate

plenary session

HÖKMARK, Gunnar (EPP, SE)

economic growth (T)

DOMBROVSKIS, Valdis (EPP, LV, EC)

European Semester (T)

WIERINCK, Lieve (ALDE, BE)

Decision adopted on the European Semester package including Annual Growth Survey 2017: extracts from the debate

SOUNDBITE (English), Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue, The aim is to identify where challenges remain and where the EU and the Member States should focus their efforts. In particular, faster progress on the implementation of structural reforms in line with the country specific recommendations is needed to boost jobs and growth and to foster economic, social and territorial cohesion.

SOUNDBITE (English), Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue, The economic growth in Europe is expected to continue at a moderate pace. Recently we have seen some labour market gains and rising private consumption. But at the same time there are a number of risks to growth and the weakening of supportive factors like low oil prices. However, the economic recovery is proving quite resilient. EU's GDP is now higher than before the crisis. All Member States are set to grow next year. Investment is starting to increase supported also by projects financed by the Investment plan for Europe.

SOUNDBITE (English), Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue, Political uncertainty and slow global growth and weak global trade weigh on our growth prospects and we face a number of economic and social challenges. Unemployment is still high.

SOUNDBITE (English), Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue, Our action message from the Annual Growth Survey is that we have to redouble efforts along the virtuous triangle of boosting investment, pursuing structural reforms and ensuring responsible fiscal policies.

SOUNDBITE (English), Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue, A new element this year is a communication on the fiscal stance of the Euro area. The letter of intent that accompanied the State of the Union speech announced that The Commission would propose a positive fiscal stance for the Euro area, in support of the monetary policy of the ECB.

SOUNDBITE (English), Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue,The recommendation for the economic policy of the euro area, highlights five areas for action: reforms that favour growth and productivity, a supportive fiscal stance, job creation and social fairness, strengthening the banking sector, and completion of our economic and monetary union.

SOUNDBITE (English), Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue,Taking into to account the measures that Spain and Portygal have taken, the Commission's view is that the excessive deficit procedure should be kept in obeyance at this point for both countries. Accordingly, the event that there were to be a proposal by the European Commission to suspend parts of the European structural and investment funds is no longer present.

SOUNDBITE (English), Gunnar H&#214;KMARK (EPP, SE), The recovery we are seeing is at a slow pace. It is to a high level dependent on a unique monetary policy that is not sustainable in a long term perspective it is also based upon the credibility of the stability pact and the stability of public finances. Don't risk that by putting the stability pact in its rules into question.

SOUNDBITE (Italian), Gianni PITTELLA (S&amp;D, IT), Dear colleagues, as I see it, the communication on the fiscal stance signed off on by the Commission is the best possible answer to the rise of the populists. The key ally of the populists is blinded dogmatic austerity.

SOUNDBITE (Dutch), Sander LOONES (ECR, BE), Well, now colleagues, I think that we need to go back to the logic of the Maastricht Treaty, and that ethos of having our accounts in order. We have place the responsibility on the Member States and impose penalties on them and even exclude them from the Euro zone if necessary.

SOUNDBITE (Dutch), Lieve WIERINCK (ALDE, BE), How will the Commission motivate Member States to spend their fiscal surplus for the sake of the collective? Because we can't expect them to use extra budget that it has available if other countries do not respect the European Semester rules. And these rules need to be reinforced.