Governo, Press release joint statement by Italian and German European Affairs Ministers Enzo Moavero and Michael Georg Link

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di redazione

Roma,

3 Ottobre 2012

Our meeting today focused on the preparation of the upcoming European Council meeting, on October 18-19, which is expected to review progress in the implementation of the June agreement to promote growth and employment as well as discuss the work currently under way to reinforce the foundations of the Economic and Monetary Union. We also discussed at length the proposed new EU budgetary framework for the period 2014-2020, which will be the subject of a separate European Council on 22-23 November Sound public finances and reforms are key for strong and sustainable growth. To offset the short-term effects of budgetary consolidation it is important to simultaneously support economic activity. We should also swiftly proceed with the implementation of the Compact for Growth and Jobs decided by the June Council.We must also ensure the stabilization of financial markets continues. In this regard, it is particularly important to deliver on the June agreement to establish an efficient supervisory mechanism for banks in the euro area involving the ECB. On the next Multiannual Financial Framework, as two of the biggest contributors to the EU budget we agree that in the current times, when citizens are having to make sacrifices, it is of crucial importance that we ensure money is better spent, with a clear priority towards measures destined to promote sustainable growth and job creation. In this context, it is also important to avoid certain countries paying disproportionately higher contributions.