The result of the European Council on December 8-9 can no doubt not be summarized as a simple arithmetic formula (27 member states – 1), nor as a version 2 of the European Union “software”. This result is also perhaps the least bad one that could have been achieved given the urgency caused by the state of crisis in which Europe – and the entire world – finds itself. It now needs to be consolidated and brought to life in the spirit of solidarity which is one of the European values.
The United Kingdom has chosen not to participate in the proposed intergovernmental treaty, unlike other non-euro zone member states of the Union. Certainly, a common budgetary discipline implies a certain loss of sovereignty. But you can’t have your cake and eat it too. One must hope that common sense will prevail one day.
The treaty must now be implemented as quickly as possible, regardless of any electoral deadlines in any member state, to protect European countries from the speculative maneuvers of “markets” that threaten their sovereignty and democratic functioning.
Very soon, the “community” – the Commission, and especially the European Parliament – will need to be reintegrated into what has so far been primarily an intergovernmental game. Otherwise, citizens might feel permanently “left out” and the sentiment of rejection towards the European Project could prevail.
It is also necessary for the governments of member states to acknowledge that fiscal discipline, as imperative as it may be, is only part of the answer: economic recovery is also necessary to avoid a recession that could, on the one hand, compromise the results of fiscal discipline, but more importantly, would have grave social consequences. In the absence of “eurobonds” to mutualize debt, at least “project bonds” should be issued to finance major European projects, for example in the fields of infrastructure, natural resource economies, health, education, and research.
Finally, it must be acknowledged that the proposed treaty is only a step in the overall process of protecting society against unbridled financialization, and that control instruments must be put in place without delay.
Brigitte Ferrari
President of the European Movement 06
