Swoboda: "Commission’s obsession with fiscal targets is failing the European people"

Hannes swoboda

Commissioner Olli Rehn today presented the European Commission's assessments of the compliance of member states' budget plans with the criteria of the Stability and Growth Pact (SGP)
Hannes Swoboda, president of the Socialists and Democrats Group in the European Parliament, said:

"Olli Rehn speaks of a 'turning point on the road to recovery' - but the European Commission still fails to understand that it is not fiscal targets that will bring a recovery to the millions of Europeans who are without employment and hope.

"The Commission's and Council's obsession with fiscal targets is erratic - one day Spain for instance is applauded for implementing austerity effectively, the next day it is scolded for potential non-compliance with the SGP - what does any of that do for Spain's 6 million unemployed people?"