Reports

Boosting growth in Europe and securing the future for the single currency

30 May 2012


The EPC was delighted to welcome European Central Bank President Mario Draghi to the Résidence Palace in Brussels for a discussion on boosting growth in Europe and securing the future for the single currency.

Participants agreed that the market situation was very delicate and that the euro was going through a crucial period: EU leaders must take decisive steps at their June summit to restore confidence in the future of the single currency and at the same time reassure households, companies, banks and the markets that Europe can return to growth.

Leaders must decide whether the euro zone must become a fiscal union. They must show clarity of vision, identify clear goals and set dates for achieving them, EPC members agreed. 

Participants discussed the role of the European Central Bank, which is mandated by the EU Treaties to provide price stability. ECB action is no substitute for fiscal consolidation by eurozone countries themselves, they heard.