MEPs in plenary gave their first reactions to the @EU_Commission proposals for a reform of the EU fiscal rules.
➡️You can watch Tuesday morning's debate again https://multimedia.europarl.europa.eu/en/webstreaming/plenary-session_20230509-0900-PLENARY?seekTo=230509090224
➡️And a summary of the main feelings is in the thread below 👇
🐦🔗: https://n.respublicae.eu/EP_Economics/status/1655890691115892736
➡️A majority of MEPs deplored the short time for @europarl_en and Member States to adopt the legislation, which should be in place before the expiry of the Stability and Growth Pact escape clause in January 2024.
➡️Many criticised the limited democratic accountability foreseen
🐦🔗: https://n.respublicae.eu/EP_Economics/status/1655890693653504002
➡️A number of MEPs said that the proposed rules were still too focused on strict reductions of debt and deficits with too little concern for encouraging investments, especially in the green and digital transitions.
➡️A better distinction between harmful and useful debt was needed
🐦🔗: https://n.respublicae.eu/EP_Economics/status/1655890696002306050
➡️Finally MEPs also said that the social dimension had not been factored in enough into the proposals and that the proposals had missed the opportunity to establish a European investment capacity.
🐦🔗: https://n.respublicae.eu/EP_Economics/status/1655890700590776323
➡️Other MEPs reminded that the EU fiscal rules underpinned the EMU, and watering down the rules would undermine this monetary union
➡️The existing fiscal rules never had a flexibility problem. What they suffer from is lack of implementation and credibility these MEPs also said.
🐦🔗: https://n.respublicae.eu/EP_Economics/status/1655890698288111624