Fresh doubts about economic cohesion at the European parliament

Euro MEPs are keen to see a roadmap that may offer some order to what appears, at present, to be a completely varied economic landscape, according to a draft report obtained by The Corner.

Lord Hill will need to clarify his position on how to move ahead with the myriad problems facing the banking union and single market. Indeed, questions pertaining to the Eurozone´s relationship with non-member states will also be on the agenda. The document also notes concerns about the incoming Pierre Moscovici´s suitability and whether or not he will prove a unifying voice amidst a climate of increased squabbling.

“Do you confirm that you will be impartial between Member States?”  EU lawmakers will ask in the first round of public questioning to the former French minister, who will be the next Economic Commissioner.

Jyrki Katainen, future Vice President of the Commission- and the man to whom  Moscovici will answer to- will have to use his power to ensure specific macro recommendations to EU countries are implemented. France must deal with huge fiscal and debt problems and has recently confirmed that it will not achieve the 2015 goal. The deficit will not fall under 3% of GDP until 2017, two years later than previously forecast.

 “Member States have been slow to implement these recommendations. What can be done to address this?” MEPs will ask the Finnish politician, according to the documents seen by The Corner.

Katainen’s counterpart in the Euro and Social Dialogue, Valdis Dombrovskis, will face a similar grilling. He will be probed on his belief in the capacity of the economic European framework to avoid a new debt crisis. Doubts still prevail over the EU´s resilience against sovereign debt pressures and the troika’s role in the recovery.

The questions will be of a different nature for Spanish candidate, Arias Cañete, who will be the next European Commissioner for Climate Change and Energy. Some MEPs will focus on Cañete´s links with energy companies and whether or not such relationships are suitable for a Commissioner in this post.

“They are going to make him sweat,” an EU source told The Corner. The source added that although there are no written questions about his sexist statements in the draft, this issue will emerge at the hearings.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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