Ian Hudghton (Greens/EFA) ‒ I voted against the report. This report was authorized by the Conference of Presidents at the very beginning of the new term with the ultimate view of providing an input on the way forward for the Economic and Monetary Union (EMU). As the negotiation process on the report became longer than planned the report has not been adopted in time to contribute to the completion of the President's report on EMU.
The ongoing impact of the economic crisis and the austerity-driven response across Europe has underlined the need for a more equal, self-sufficient view on economic governance. I reject the report's whole-hearted endorsement of austerity in reducing excessive imbalances in deficit countries and I would rather see a focus on investment in capital projects alongside a proper account of the social aspects of the EMU.
The report as a whole is a bad recipe which lacks vision for ensuring the long-term sustainable future of the EMU.