Negotiations on a new international treaty involving all the EU states, except for Britain, are now at an advanced stage. Its working title, which has changed with each draft, is the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union. The essential elements of this Treaty are much clearer than its name. It is effectively a Treaty to institutionalise austerity policies and represents a further significant attack on democratic rights. The campaign for a referendum and for a No vote will be vital for those opposed to austerity policies in the coming months.
One of the most interesting parts of the work I do in the European Parliament is not the committee and plenary meetings, but the opportunity to host meetings in the Parliament that can bring together campaigners from around the world. In the last week, I had the opportunity to co-host a film in the Parliament together with a number of other MEPs from different political groups.
A Greek default is looking more and more likely - if it happens, what will be the consequences for the Eurozone, economically and socially? By Paul Murphy, MEP.
A spectre haunts Europe – the spectre of a default by Greece, Greece's subsequent exit from the eurozone and a break up of the eurozone. All the signs – economically and politically – are that key sections of the European establishment are increasingly coming to the realisation that this is now a real possibility.
New proposals on economic governance, including the Euro Plus Pact, are an attempt to institutionalise austerity policies at the heart of the EU, writes Paul Murphy, MEP.
Over the past number of years, and in a more accelerated manner in recent times, one of the most significant topics being touted in the Parliament and the institutions of the European Union is that of economic governance.