23/07/2015
As part of the negotiations between Greece and Institutions, there was an intense debate about whether Greece remaining in the eurozone was the only plan or whether there was some Plan B.
Both the public statements by Eurogroup ministers (such as Mr Varoufakis and Mr Schäuble) and a number of interventions by institutional economists and think-tanks, such as the Ifo in Germany, show that a fully-fledged Plan B was proposed in the negotiations as a possible alternative.
It also emerges that preparations for such a plan acted as a window of opportunity for the finance ministers involved, Mr Schäuble and Mr Varoufakis, to identify with a scheme that served only to advance their personal ambitions and not the objectives of the EU: this shows how easily the structure of EU financial governance can be undermined by the personal ambitions of some politicians.
In view of the above, will the Commission say:
— Did the discussions really include the option of a Plan B for Greece’s exit from the EU?
— Can a Plan B that prepares the exit of a country from the eurozone be considered compatible with the EU Treaties?
— How will the Commission address the risks to the process of economic governance posed by individual politicians pursuing their personal political agendas?
Answer given by Vice-President Dombrovskis on behalf of the Commission
The Commission would like to refer the Honourable Member to the answer to parliamentary Question E-011834/2015(1).
In addition, the Commission would like to point out that the reforms undertaken over the past five years have significantly strengthened the economic governance of the Economic and Monetary Union (EMU). This work needs to continue, in cooperation with all relevant stakeholders. In this context, the Five Presidents' Report on completing Europe's EMU published on 22 June 2015 set out clear ideas and a clear timetable for the implementation of the various actions. Strengthening the legitimacy and accountability towards the European Parliament is one key element of this work.
The Commission launched the concrete follow-up work on 1 July 2015 (see press release IP/15/5294). A first set of proposals was presented on 21 October 2015(2). Going forward, the Commission will ensure that the process is as inclusive as possible and draws on feedback received from all relevant stakeholders.
(1) http://www.europarl.europa.eu/plenary/en/parliamentary-questions.html
(2) http://europa.eu/rapid/press-release_IP-15-5874_en.htm
