Economic Advisor to EU Commission to Brief Oireachtas Committee on New Plans to Strengthen Economic Policy Co-ordination
12 July 2010
Details of new EU plans which aim to reinforce economic policy management, propose a robust crisis management scheme and introduce earlier co-ordination of budgetary policy will be explained at tomorrow’s (13th) meeting of the Oireachtas European Affairs Committee at 2:00 pm.
Mary McCarthy, the EU Commission’s Economic Advisor will outline the details of this new EU proposal and the implications it will have for member states including Ireland.
Developments over the past weeks and months have highlighted the financial markets’ concerns about unsustainable debt developments in EU member States.
Committee Chairman Bernard Durkan TD said;
“The unfolding Greek crisis has created broader financial distress and rising public debts raised has increased concerns in relation to some other countries.
Against this backdrop, the European Commission released the important document which we will analyse at tomorrow’s meeting. Although this document had been planned for some time, it has acquired heightened importance given the recent emergency commitments to safeguard financial stability in the Euro zone, in light of the budgetary crisis in Greece.”
The title of the European Commission documents are: “European Commission Communication (2010) 250 on Reinforcing Economic Policy Coordination” and “European Commission Communication (2010) 367 Enhancing economic policy coordination for stability, growth & jobs – Tools for stronger EU economic governance”.
This Committee can be viewed on-line at: http://www.oireachtas.ie/ViewDoc.asp?fn=/documents/livewebcast/Web-Live.htm&CatID=83&m=o
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