Parliamentary Secretary Ian Borg opened the debate on the Council and Commission Statement – State of play of the second review of the economic adjustment programme for Greece.
He said that all institutions–in line with the European legal framework- are entrusted with the design and monitoring of adjustment programmes and that the Council will not be
intervening in ongoing programme reviews.
He referred to the Eurogroup–which provides political guidance on open issues–
and pointed out that second review of Greece’s programme is on the agenda of the next Eurogroup meeting scheduled on April 7.
When speaking about the Multiannual Financial Framework (MFF) revision Dr. Borg said that moving ahead with this deal has allowed us to strengthen our tools and better respond to the priorities that have emerged in the last two years.
He said that following continuous cooperation and dialogue that started off under the Slovak Presidency, the time was now ripe to secure the agreement on the revision of the
MFF Regulation and its accompanying package.
He said this was an ambitious revision that went beyond the usual words and that turns
Dr. Borg said there had been many competing requests; some of them even irreconcilable-
but the dedication of the Parliament negotiating team and the help of the Commission have resulted in the best possible compromise.
Such a compromise will immediately translate into concrete financial support where it is mostly needed.Budget will be more agile and more flexible to respond to future crises–allowing us to meet unforeseen needs in a swifter manner.
The capacities of the Flexibility Instrument and the Emergency Aid Reserve will be increased by a totalof almost €700 million over four years and in addition, the Flexibility Instrument will be increased further by unused amounts from the Solidarity Fund and the Globalisation Adjustment Fund. €3.9 billion extra available for migration and security and €1.2 billion for youth, will also help us to manage the migration crisis and to bring hope to unemployed youth.
This was an opportunity not to be missed, concluded Parliamentary Secretary Ian Borg. Earlier in the day, Parliament was also addressed by President of the Federal Republic of Germany Frank-Walter Steinmeier