S&Ds urge Irish Presidency to deliver on banking union and youth unemployment

Hannes Swoboda, president of the S&D Group, today called on Irish prime minister Enda Kenny to act decisively on the economic and social challenges facing the European Union. The debate in the European Parliament marked the start of the Irish EU presidency.

Hannes Swoboda outlined the crucial items for the S&Ds during the Irish Presidency:

„The key items on which we need to see progress are the completion of a banking union and workable solutions to lower unemployment – in particular the intolerable levels of youth unemployment in European countries. This is not only a waste of resources but also an unacceptable social tragedy and a threat to European society. Finally, we are seeking a guarantee that the Schengen area will continue to be a space with full freedom of movement.

„Ireland has proved that it can solve crises and it has been doing so working with its people, not against them. This is the model we want to see applied in European problem-solving too.“

He continued by pointing to the need for growth in Europe:

„It is good news that now even Conservatives such as Spanish prime minister Mariano Rajoy are joining the social-democratic call for public investment to generate growth in Europe. Those countries that can afford to do so should take action. Growth will not be created by talking about it, but when governments start investing.

„It is also essential that we find a solution for those countries in the grip of extraordinarily high interest rates. We need to lower the interest rate spread across Europe. That’s why Europe needs a redemption fund to complete the banking union.“