PES finance ministers call for a strong EU post-2020 budget of cohesion, investment and unity

PES finance ministers call for a strong EU post-2020 budget of cohesion, investment and unity

The ministers focused on the negotiations that will take place over the coming months towards an agreement on the EU budget, in the wake of the informal EU leaders meeting and the release of the Commission package on the next multiannual financial framework in May.

Pier Carlo Padoan, Italian finance minister and chair of the PES Ecofin Ministers’ Network, said:

“The European budget is the main tool Europe has at its disposal to deliver improvements in the lives of European citizens. It must live up to people’s needs and strengthen European cohesion, bridging economic and social inequalities and increasing public investments.

“The European budget must be used to enhance Europe’s added value, investing in common EU public goods. It is essential that the new budget that will run from 2020 to 2027 aims to strengthen innovation, investment and growth and includes an ambitious common defence policy, a strong common migration strategy, and further enhance the potential of the single market.

“Europe must also go a step further and agree on a stabilisation mechanism for unforeseen shocks and conditions. We are living in ever-changing times — we need swift reaction mechanisms and ambitious tools.”

The meeting was also attended by:

  • Edward Scicluna, finance minister for Malta
  • Mário Centeno, finance minister for Portugal
  • Corina Crețu, Commissioner for Regional Policy
  • Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs
  • Udo Bullmann, acting S&D group leader in the European Parliament
  • Maria João Rodrigues, first vice-president of the S&D group in the European Parliament and president of FEPS
  • Roberto Gualtieri, chair of the ECON Committee in the European Parliament
  • Yonnec Polet, PES deputy secretary general