Donnerstag, 16.08.2018 08:03 Uhr

Reforms in Europe are needed

Verantwortlicher Autor: Carlo Marino Rome, 30.07.2018, 08:45 Uhr
Kommentar: +++ Politik +++ Bericht 3580x gelesen

Rome [ENA] Beppe Grillo, the founder of the anti-establishment 5-Star Movement (M5S), declared recently that he thinks the traditional model of parliamentary democracy is obsolete. "We must realise that democracy has been surpassed," the comedian-turned-politician told American show Gzero World with Ian Bremmer(The term G-Zero world refers to an emerging vacuum of power in international politics created by

by a decline of Western influence) . "What is democracy when less that 50% go out to vote? If you get 30% of the 50%, you got 15%. "Today minorities manage the country. It should probably be replaced with something else, perhaps a random draw” Beppe Grillo continued. While this is happening in Rome, according to the European Commission’s forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and will decline somewhat to 2.3 % in 2018 and to 2 % in 2019. Recent Euro area-wide growth should not lead to self-satisfaction and instead the Euro area needs to implement the necessary reforms both at the European level and the level of member states in order to be able to withstand symmetric and

asymmetric shocks rather than such shocks leading to existential crises. Furthermore, according to Eurostat, inequality of income distribution in the euro area has increased since the beginning of the financial crisis. In order to recover democracy in Europe, it seems crucial to break with the neoliberal principles that have been governing the policies imposed by the EU on the peoples and workers of the Member States, bearing in mind that it will only be possible to boost the economy and promote social progress by achieving sustainable economic growth based on decent earnings, work with rights, public control of the strategic sectors of the economy and universal and free access to health and education and through the promotion and

and socialisation of innovation. There’s an urgency of carrying on the fight against over indebtedness of banks, states, and private actors that hampers economic growth and in this case growth-friendly and sustainable fiscal policies are needed at the European level in order to strengthen the European economy and increase its competitiveness as a whole. Ageing societies and other demographic developments put a massive burden on the sustainability of public finances. Member States have to take responsibility also towards future generations and implement the balanced budget rule in their own national legal order as set out by the Fiscal Compact.

In the same time, much more flexibility is required to boost investment and growth in the EU and the exemption of the public investment from debt accounting could be the most effective way to increase counter-cyclicality and growth-enhancing in fiscal policy. A reform of the Stability and Growth Pact and the introduction of an aggregate euro area fiscal stance is vital. The future of the euro area and the future of democracy is currently at stake if the ambitious reforms needed for the Economic and Monetary Union are not fulfilled.

A democratisation of the economic governance institutions and processes with full scrutiny and enlarged powers to the European Parliament, a budget for the euro area which should be around €100 billion and a true reform to enable the ECB to act as the lender of last resort for Member States in exceptional circumstances seem to be crucial and ingenious reforms to support the European Union and the European democracy. On the other side elections may be hacked, territories annexed, and sanctions levied, but without results.

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