Olivier Chastel defends the permanent mechanism for the stability of the euro zone
Olivier Chastel, Secretary of State for European Affairs spoke on behalf of the Belgian Presidency of the Council of the EU during the plenary session of the European Parliament on preparations for the next European Council of December 16 and 17, 2010.
This European Council will be decisive for the consolidation of the economic pillar of the Economic and Monetary Union. The major topic on the agenda will be the enhancement of financial stability.
“Since the beginning of the crisis, we have demonstrated our determination to take the measures necessary to preserve financial stability and promote the return to sustainable growth,” stated Olivier Chastel. The crisis has highlighted the need for an additional tool to ensure euro zone stability. “We had to set up an ad hoc mechanism that we have just used to help Ireland. However, we need a permanent mechanism for the medium-term,” continued the Secretary of State.
The European Council will be invited to give its agreement on the creation of a mechanism to ensure the financial stability of the entire euro zone and for the launch of the Lisbon Treaty’s simplified revision procedure.
In addition, the Secretary of State insisted on the importance of the new Europe 2020 Strategy for growth and employment. It will play an important part in moving past the crisis. “The Belgian Presidency wants to move forward with its implementation to set the markers for sustainable economic recovery,” affirmed Olivier Chastel.
