Sunday, March 27, 2011

The leaders of the EU sit the base of the economic government

The bases of the architecture of the economic government of the EU remained established yesterday in the wide agreement reached by the leaders of Twenty-seven countries of the EU.
Besides monetary politics, the Union will start possessing the first instruments to elaborate an economic politics common European. The European Advice approved yesterday the instruments for this major economic governance that they are the Agreement for the Euro Bonus, the bottom of rescue (European Mechanism of Stability, MEDE), six legislative offers that reinforce the budgetary vigilance and the Agreement of Stability and Growth, and the severer accomplishment of endurance tests to the banking.
The Agreement for the Euro Bonus consists of a series of commitments that must assume the members of the Euro and other countries of the EU that voluntarily they it want to sign to stimulate the competitiveness
Such as
To promote the employment
To assure the sustainability of the public finance
And to reinforce the financial stability
The Agreement of the Euro Bonus, signed for the present time by other six countries (Poland, Denmark, Bulgaria, Romania, Lithuania and Latvia) has his origin in the German requirements to demand major efforts to the countries to improve his competitiveness and as condition of which Germany was accepting a bottom of rescue for the countries with difficulties since it has been the case of Greece and Ireland.

The European Advice passed also to create from 2013 the MEDE that foresees a bottom of 500.000 million really available and of which Germany is his principal contributor with 27,1 %.

The bottom will possess the capital spent of 80.000 millions

Six legislative dispositions approved yesterday to reinforce the economic governance, include a reform of the Agreement of Stability and Growth, reinforce the budgetary vigilance and new dispositions are established to reduce the macroeconomic imbalances.


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