Jimmy Deenihan
Ceist:26 Mr. Deenihan asked the Minister for Finance if the Irish Presidency has made progress towards the reform of the stability pact. [12895/04]
Amharc ar fhreagraThursday, 6 May 2004
Ceisteanna (33)
Freagraí scríofa
Ireland supports the stability and growth pact and during Ireland's Presidency of the Economic and Financial Affairs Council, ECOFIN, our priority is the continued implementation of the pact. In principle, I am in favour of introducing more flexibility into certain aspects of the pact. As of now, the general view among my colleagues in ECOFIN is that there should be a period of reflection, so that we can consider in a thoughtful and deliberate way how the EU economic governance system operates. We need to ensure that any proposed changes to the pact are developed on the basis of consensus, so that any reforms can command the broad level of support that is required.
The Commission is expected to bring forward, in the months ahead, its own initiative on improving economic governance in the EU, including proposals for improving the workings of the pact. I anticipate that this initiative will contribute to the ongoing deliberations on this matter.