Last Sunday I wrote an opinion in one of Malta’s newspapers on the outcome of the EPP Summit and Congress held a few weeks ago. Indeed, it was a historical summit as the decisions made by our leaders will perhaps change the way we think when it comes to the euro and EU fiscal policy. We all have come to realise that a decision taken in Athens effects the markets in Germany. But perhaps we all knew this – and failed to take the necessary actions. Had this been the case, the EPP Congress would not have been historic and there would not have been the need for historic decisions to be taken.
The majority of Member States have now accepted the fact that failing to respect the 3% annual deficit and 60% debt will lead to automatic sanctions. Some Member States adhered to these thresholds without the need to have sanctions implied directly upon them – it is evident however, that others failed to do so. As to the latter, today’s peoples have to make good for wrong decisions which have been taken in the past. Today’s decisions will ensure that tomorrow’s people will not need to pay for wrong decisions we take today – simply because these decisions are right, just and responsible towards a sustainable future.
Above all, the decisions, difficult as they may seem, will ensure that the European Union, the largest human construction ever created (Sarkozy), lives on for many more years to come. This was the intention of its creators – Schuman, Monnet and De Gasperi. Likewise it ought to be our intention to safeguard it for our children.
Note: Picture with Malta’s Prime Minister Dr Lawrence Gonzi and Europarliamentarians Simon Busuttil and David Casa