Athens, 28 September 2021

EU member states conference on economic governance

In the framework of the parliamentary dimension of the Slovenian Presidency of the EU Council, a videoconference was held today, 28 September 2021, on Stability, Economic Coordination and Governance in the EU, with the participation of EU MPs and MEPs. The Hellenic Parliament was represented by the Chairman of the Standing Committee on Economic Affairs Stavros Kalogiannis and the members Tsambika (Mika) Iatridi and Effie Achtsioglou.

The keynote speakers were Paschal Donohue, President of the Eurogroup, Paolo Gentiloni, European Commissioner for Economy, Johannes Hahn, European Commissioner for Budget and Administration, and Andrej Šircelj, Slovenian Minsiter of Finance. The conference focused on two themes: a) Financing the Pandemic Exit Strategy – New Own Resources and b) New Challenges and Opportunities of European Economic Recovery and Renewal for effectively Channelling Funds into the Implementation of the NextGenerationEU Instrument.

 The Chairman of the Economic Affairs Committee Stavros Kalogiannis noted that, in the unprecedented crisis we are experiencing after 18 months in a pandemic, the allocation of significant funds through the NextGenerationEU mechanism and the multiannual EU budget is an important response and ensures sustainable growth. At the core of this support plan is the Recovery and Resilience Mechanism, implemented through National Plans. The Greek Plan is considered one of the most comprehensive, combining economic efficiency with social cohesion. The Plan emphasises green and digital transition.

 A key element is the mobilisation of significant funds from the private sector to increase investments. Already last July, the technical sheets of the first 12 projects were approved, which mainly concern digital access to services for citizens and urban planning. At the level of the economy, Greece has successfully addressed the health crisis, with measures totalling 42 billion Euros, while at the same time important structural reforms were implemented. The effects of climate change are also being addressed successfully, with the adoption of measures to support those affected by the recent major fires.

Mr Kalogiannis then referred to the good course of the Greek economy, reflected in the positive assessments in the context of Enhanced Supervision, in the increase in exports, the upgrading of the country’s credit rating and supported the Commission’s announcement to resume consultation on reviewing fiscal rules. The Pandemic, he stressed, highlighted the need for changes to the Stability and Growth Pact, that will provide flexibility when dealing with crises, will encourage public investment and will ensure the long-term sustainability of public finances.

 Mrs Iatridi referred to the need to create a new competitive, extroverted, innovative and inclusive growth model, as well as to the need to accelerate the green and digital transition of the Greek economy, with financial support from the cohesion funds and the Recovery and Resilience Facility. The Council Decision on Own Resources and an own resource on non-recycled plastic packaging waste, as well as the submission by the Commission of a legislative proposal on the Carbon Border Adjustment Mechanism, are moving in the right direction, pointed out Mrs Iatridi and supported the increase in own resources that ensure adequacy of revenue sources to fund the EU budget. Finally, regarding the new EU digital tax, we support, as she said, the position of the Commission to put it on hold.  

 

  

 

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