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Strong support for MEP Gunnar Hökmarks proposals for a strengthened recovery plan

”Giving stability to the European credit market and banks is the top priority for a successful recovery”, says Gunnar Hökmark.

The EP now encourages the Commission and the Member States to urgently tackle the problem of banking guarantees; in order to ensure that similarly designed schemes would prevent banks to fail across the EU.

The Committee stated that all measures to tackle the crisis have to be in line with the rules of the Stability and Growth pact. Furthermore it insists that all financial aid is temporary and that measures should be restored as soon as practicable to ensure the provisions for a fair and competitive market and sound state finances as defined in the Treaties.

”I appreciate the strong support by all political groups to give the highest priority to securing the stability and functioning of the credit markets. This is a precondition for all other efforts to stimulate the economy by investments in infrastructure and research, as well as lower wage costs and lower taxes for low-income households”, concludes Gunnar Hökmark MEP.