At last week’s ALDE European Summer Academy about the Euro and Eurozone stability the European Liberal Youth (LYMEC) and the Young Democrats for Europe (YDE) discussed the future of the Euro as a common currency.
Around 80 participants from the youth organisations of the ALDE group welcomed many distinguished speakers. After an introduction by
Dominique Servais, head of the ECB coordination unit at the national bank of Belgium and
Iain Begg, professor of European economics at the London School of Economics, the young Liberals and Democrats had the pleasure to discuss with
Olli Rehn (Commisioner for economic and financial affairs) and
Wolf Klinz (MEP, chair of special committee on the financial and economic crisis). Other speakers where the MEP’s
Jorgos Chatzimarkakis, Graham Watson, Olle Schmidt, Kristina Ojuland, Marian Harkin and Sharon Bowles.
LYMEC president
Alexander Plahr states: “There is no single easy way out to save the future of the Euro. We need to be cautious, but confident. On the one side the member states in the Eurozone have to take the necessary measures to respect the stability and growth pact again, which means budget cuts and structural reforms. They have to invest in the future, but need to be strict to get to balanced budgets. On the other side, we have to take steps to restore the power of that same stability and growth pact. If countries in the Eurozone do not stick to its rules, measures have to be taken automatically by an independant, non-political, body. If countries do not obey those rules, one of the final consequenses must be that their voting rights need to be suspended.”
