These "eurosecurities" would aim to strengthen fiscal discipline and increase stability in the euro area through markets, as well as by taking advantage of the increase in liquidity, ensuring that Member States enjoying the highest credit standards would not suffer from higher interest rates.
Rehn also stressed that the adoption of the economic governance package is fundamental to the EU’s response to the crisis, to strengthening and giving teeth to the economic policy coordination, in terms of both prevention and correction, and for both sound public finances and the avoidance of harmful macro-economic imbalances.
He said that 99 per cent of this package has been agreed. The Council and the Parliament have made important improvements to the EC original proposals. For instance, the EP has codified the European Semester, providing for comprehensive assessment of Member States' progress on Europe 2020.
Full speech
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