Hannes Swoboda: „We must stop undemocratic Troikas destroying Europe’s future“

In the light of tomorrow’s debate on Cyprus and the Finnish prime minister’s exchange with MEPs in Strasbourg today, S&D Group president Hannes Swoboda said:

„We are seeing less and less support among citizens for EU policies. As poverty increases there is growing resistance from the people in countries hit hardest by the crisis.

„One of the reasons Europe is in the situation it is today is the growing influence of the Troikas, imposing harsh austerity measures on countries and citizens – whether in Cyprus, Portugal, Greece or Spain.

„It is time to end the Troikas. They are not accountable to anyone and do not represent democratic institutions.“

Hannes Swoboda continued by calling on the EU Commission to take up its responsibilities: „The responsibility cannot be in the hands of the Troikas but it must be up to the EU Commission – and especially Commissioner Olli Rehn – to make legislative proposals to get Europe out of the crisis.

„The EU Commission must co-ordinate its activities more effectively with the European Central Bank and especially with ECB President Mario Draghi.“

He concluded by calling for a co-ordinated fight against tax evasion and tax havens, and for more investment in growth with the introduction of the financial transaction tax:

„A study from our Group shows that €1 trillion could be saved if tax evasion was followed up effectively. We could use this urgently needed money to pay national debts or to invest in growth and jobs.

„The fight against tax evasion and tax havens must not only be fought at national and European level but at international level, with joint action against international banks.

„Finally, I call for speedy action on the introduction of a financial transaction tax. This money could also be used to invest in a different – more fair and growth-oriented – Europe. I call on the Finnish prime minister to join the other countries on this important legislative initiative.“