Extracts from the press conference by EP President Jerzy Buzek, Sharon Bowles (ALDE, GB), Chair of the Committee on Economic and Monetary Affairs, Corien Wortmann-Kool (EPP, NL), Rapporteur, Diogo Feio (EPP, PT), Elisa Ferreira (S&D, PT), Sylvie Goulard (ALDE, FR), Carl Haglund (ALDE, FI), Vicky Ford (ECR, GB), Rapporteurs.

press conference

six-pack (T)

BUZEK, Jerzy (EPP, PL)

FORD, Vicky (ECR, UK)

GOULARD, Sylvie (ALDE, FR)

FERREIRA, Elisa (S&D, PT, EC)

WORTMANN-KOOL, Corien (EPP, NL)

HAGLUND, Carl (ALDE, FI)

BOWLES, Sharon (ALDE, UK)

FEIO, Diogo (EPP, PT)

Economic Governance Package: extracts from the press conference par Jerzy BUZEK, EP Président, Sharon BOWLES (ALDE, UK), Chair of the ECON Committee and the Rapporteurs

SOUNDBITE (English) Jerzy BUZEK, EP President : "We know very well that Europe is facing the deepest crises in its history due to the sovereign depth crises and its need decisive leadership, solidarity, and also responsibility, and obvious, further integration. Otherwise wed can not avoid nationalisms and fragmentation".

SOUNDBITE (English) Jerzy BUZEK, EP President : "We have finished the '6 pack', and we have something like a new economic rules book, for avoiding next crises. powerful and resistant arm against any future crises. We need more budgetary discipline and trough economic governance; it is all inside the '6 pack'".

SOUNDBITE (English) Sharon BOWLES (ALDE, UK), Chair of the Committee on Economic and Monetary Affairs: "The way in which the euro crises has spread in to a global threat mirrors the significance of the spill-over effects within the EU, and these are dressed in the reports. There is no escaping, whether in the eurozone or not. We are in this together, and we must move forward together, and preserve the brand of he EU which depends up on the 27 and its institutions , and not just the euro zone. Although of course there will be specific steps that are relevant within the monetary Union".

SOUNDBITE (English) Corien WORTMANN-KOOL (EPP, NL), Rapporteur: "With this package, we can not only prevent us of another Greek crises, but its also clear that we can ensure sustainable economic growth , because all member states have to solve their depth problems and work on their competitiveness".

SOUNDBITE (Portuguese) Diogo FEIO (EPP, PT), Rapporteur: "On the list of major relevant factors on the table of the Commission there are a series of extra facts considered, making for a better and more intelligent implementation of the stability and growth pact. Secondly the rule on the rate of the reduction of debt, will stop being looked at on annual bases, but will henceforth be done on a 3 yearly bases".

SOUNDBITE (Portuguese) Elisa FERREIRA (S&amp;D, PT), Rapporteur: "We can't share the enthusiasm of many of our colleagues regarding the new deal, because we think that this pact is unbalanced. .There it's a lot of stress on discipline ad meeting goals, on automatic procedures, on rigidity. What is lacking is what will make it possible to strife for growth on employment. That why we feel that this package, right now, it is a bit as a wonky table, missing one leg, and that's why we've been very critical".

SOUNDBITE (French) Sylvie GOULARD (ALDE, FR), Rapporteur: "Compared to the Commission's draft we brought in mechanisms for discussion beyond borders. I'm not going to boast about this, but we have build bridges between institutions which didn't talk before".

SOUNDBITE (English) Carl HAGLUND (ALDE, FI), Rapporteur: "Sanctions must to be always the last option when you try to enforce sound public finances but this option has to be kept , has to be a part of the tool box that is available for the Commission when necessary ".

SOUNDBITE (English) Vicky FORD (ECR, GB), Rapporteur: "For the 27 countries to unanimously agreed that they want to have much stronger budgetary process, much stronger transparency of how our public money is spend, much better independent oversight . I think that will really help. Because one of the problems of the crises that we have is that there was inadequate planning , there was inadequate understanding of were the money was going".

SOUNDBITE (English) Corien WORTMANN-KOOL (EPP, NL), Rapporteur: "Business as usual is impossible after the adoption of this package because of the fundamental reform of the economic governance in Europe, both in the stability and growth pack and the instrument for the macroeconomic surveillance . The member states and the Council can not just ignore the European Commission's assessments and recommendations but they have to comply".