Dijsselbloem: We have to complete banking union
We have to complete the Banking Union, protect bank deposits, and strengthen investments, Eurogroup President Jeroen Dijsselbloem told the plenary of the European Parliament, according to a Cyprus News Agency report from Strasbourg.
The Eurogroup President, who took part for the first time since he assumed office, in a plenary debate at the European Parliament in Strasbourg, said that there is no need for cynicism as regards the euro, replying to critical comments he heard from many deputies.
The MEPs discussed the EU`s economic and social priorities for 2016, as set out by the Commission in the Annual Growth Survey, and specific recommendations for the euro area as a whole, all presented by the Commission on 26 November.
Dijsselbloem also warned against too much optimism, because, he said, our society’s indebtedness is still holding back growth and fiscal policies should therefore be pursued.
The Eurozone President referred to the speed with which the banking union was set up to support his positive take on the euro project.
“But”, he said, “if there is one lesson we have learned, it is that we have to finish what we have begun. So let`s complete the Banking Union. Let`s protect bank deposits, let`s strengthen investments by getting the European Fund for Strategic Investments up and running or even expand it, let`s create a capital markets union so that startups can get credit too”, he added.
Dijsselbloem also warned that fiscal policies should be pursued as the “indebtedness of our society holds back recovery. There is no quick fix for this - it will take time”.
He also said that at the beginning of the economic crisis there have been some mistakes, but noted that the path now is the correct one.
Meanwhile, in his intervention, Commission President Jean-Claude Juncker reiterated that the European Parliament is the parliament of the euro.
He explained that “the euro is a political project and we are a political Commission. This project requires democratic supervision and democratic accountability and Parliament should play a central role in this”.