Europe's strengths must be used

by Wolfgang Franken, Secretary General EES,
and MEP Othmar Karas, Vice-President of the EPP Group in the European Parliament
and President of the EMS Section Austria
Statement 20.03.2010

If we lose our strength because we are only focused on the crises, we better must be aware of our creative responsibility!

Dear Readers,
If the Euro-zone countries actually would coordinate their budgets, so this would give them a unprecedented political weight and an unprecedented freedom of action.
This statement was recently given by Joseph Daul, Chairman of the EPP, in a plenary debate of the European Parliament. He has not only to hit the mark; we also share the same opinion.
But this strength would also make it necessary to combine European forces within the international financial institutions, where the Euro must then speak with one voice.
Take for example the International Monetary Fund (IMF)
That the individual voting rights are calculated by the economic power of the states. According to these criteria, the U.S. has 16.7% of voting rights, Japan 6%, China 3.6%, and the six founding countries of the EU would have 18.49%. If all Euro countries would form one bloc in the IMF, they would come to 22.9% of the voting rights.
If even all EU countries would form a common block, they would obtain 32% and would therefore be twice as strong as the United States.
These power relationships are a reality in the world. For many Europeans, and responsible members of the European Economic Senate (EES) it is no longer understandable that the EU governments draw no conclusions.
The European Parliament and some other progressive thinkers are one good step ahead. A courageous action to be taken will become more important for the governments of the EU Member States!
Brussels / Bonn, 20.03.2010