Plenary focus - February

The eurozone requires fundamental change in its economic policies and governance in addressing the root causes of the euro crisis - particularly Germany’s beggar-thy-neighbour policy. The introduction of a budgetary capacity that doubles down on structural reforms which hamper demand, or the creation of a eurozone Treasury to intervene in member states’ budgets would only further undermine democratic sovereignty. A ‘German euro’ has no future.

Food and commodity speculation fills the pockets of the rich, keeps the stomachs of the poor empty and destabilises our economies. The proposed Commission rules fail to honour the Parliament and Council decision to stop excessive speculation in commodity markets. That’s why GUE/NGL gave impetus to a rejection of the proposals in the Parliament. Ten years on from the start of the global financial crisis, the EU still hasn’t learned its lesson.

For the IMF to demand the Greek government legislate additional measures worth 4.5 billion euros in advance of the 2019 budget is unconstitutional, economically naive and politically unacceptable. It is inconceivable for any member state of the EU - be it Greece, France, Spain, Italy or Germany - to do such things. Furthermore, to demand more sacrifices from the Greek people in order to service an unsustainable debt jeopardises the financial and fiscal progress that has been achieved by Athens following the mutually agreed obligations.