[fyeg_gen-l] Press Release on the outcomes of the EU Council

Terry Reintke terrytasse at aol.com
Tue Jan 31 11:33:47 CET 2012

Dear everyone,

this is our press release regarding the newest proposals coming from the 
state leaders of the EU. We strongly criticise the fiscal compact that 
imposes budget cuts to Member States if they want to get money from the ESM.

You can find it here:


We are happy about your remarks!



"Wake up! Our future is at stake!

In the aftermath ofthe meeting of the government and state leaders of 
the European Union yesterday, FYEG is deeply disappointed by the 
outcomes of the Council meeting. The proposals made by the summit will - 
even if put in place - not have any positive impact on the economic 
situation of Europe. On the contrary, they will lead Europe further down 
the path ofrecession and growing social inequalities.

Forcing EU states to exercise austerity and cuts in public 
expenciturewithout a sustainable harmonisation of fiscal policies 
including a raise in income and wealth taxes and a reform of the banking 
system, is the worst kind of action Europe can take in times of crisis. 
Balancing governmental budgets only through austerity measures and 
spending cuts, without raising incomes through more taxation will 
further increase inequality within our societies.

What we need is more integration on fiscal and economic policies and to 
regain power of the political sphere over the banking sector which 
includes more regulation. Financial regulations must be extended to 
regain the control over the markets, to reduce risks from future crises, 
and to show that those responsible for the financial crises are held 
liable/. /FYEG also opposes the vision of economic governance that 
solely relies on top-down measures which force procylcic austerity 
policies and bypass all democratic processes.

Terry Reintke, co-spokesperson of FYEG, said: "The state leaders are 
openly neglecting the simplest rules of their own economic regime. This 
kind of politics will lead us even further into crisis and recession. 
Not to speak of the social inequalities this will produce, it will 
destabilise the economic sphere in Europe in the long term."

Nic Schaefers, co-spokesperson of FYEG, added: "This agreement - even if 
put in place - will probably not be legally binding as it is not a 
proper treaty change. What we need are thorough changes in order to 
harmonise the European economic politics that is agreed with the 
democratic participation of the European and national parliaments."

We demand that the European Commission and the European Parliament take 
a more active role and propose how to do necessary reforms within the EU 
framework including the introduction of Financial Transaction Tax and 
the Common Corporate Tax Base as well as Eurobonds and a real economic 
coordination in a fiscal and economic union.

Terry Reintke
FYEG Co-Spokesperson

Federation of Young European Greens
31 rue Wiertz
Brussels, Belgium 1050

+32 (0)2 62 60 72 7

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