The building of the European Parliament in Brussels – Photo: wikipedia

Fidesz MEP: EU economic governance reform must adhere to factuality, equal treatment

The process of reforming the European Union's economic governance must adhere to factuality and the principle of equal treatment, Eniko Gyori, and MEP of Hungary's ruling Fidesz, said on Tuesday.

Addressing the debate on the reform in the European Parliament’s Committee on Economic and Monetary Affairs (ECON), Gyori said the changes were necessary, adding that the aim was to strike a balance between creating the conditions for growth and promoting fiscal responsibility.

The new rules must guarantee equal treatment for member states and that the European Commission cannot abuse its discretionary power, Gyori said.

An objective target figure is needed when it comes to debt reduction with a view to guaranteeing the EC’s impartiality when dealing with member states, the MEP said.

She criticised the EU’s debt sustainability analysis (DSA), saying that it was based on assumptions and could not be used to make decisions, and called for an objective methodology approved by member states.

Gyori also said the coordination of member states’ economic policies should remain focused on ensuring the sustainability of their public finances. She warned that the incorporation of social policy would lead to ideological debates and leave member states with less room for manoeuvre.

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