.

27.02.2002

Europe and the EURO need Stability

EUCDW criticises decision by Ministers of Finance

The European Union of Christian Democrat Workers (EUCDW) criticises the decision by the EU Ministers of Finance not to issue the German and Portuguese governments with a reprimand, despite their high national debt. Stability is the foremost requirement, particularly at a time when the European Union is taking a large step towards genuine political union with its debate on a constitutional treaty. The decision by the Ministers of Finance as well as thoughts on possibly relaxing the EURO stability criteria are, in contrast, characterised by short-term national thinking.

For this reason, the EUCDW welcomes the critical position of the EPP-ED group in the European parliament and the corresponding parliamentary enquiry submitted by Othmar Karas MEP.

The EURO stands for European unity. It represents the chance, via a stable, common currency, to stimulate the free movement of goods, services, persons and capital and to create the economic framework to enable further growth to take place and jobs to be created. The challenges which are currently facing the Community - assumption of global responsibility, expansion to central, eastern and southern Europe, strengthening of competitiveness, securing a high level of social protection - demand more European collaboration. But this must be based on trust and stability.

The European Union of Christian Democratic Workers (EUCDW) consists of 23 workers' organisations from 15 countries and is an association of the European People's Party (EPP).

responsible: Luc Delanghe, President.

EUCDW
European Union of Christian Democratic Workers
c/o EPP, Rue du Commerce / Handelsstraat 10
B-1000 Brussels

E-mail: EUCDW

.