Sant jappella għal aktar flessibbiltà fit-tmexxija tal-ewro biex ikun hemm titjib fl-investiment pubbliku

Fl-intervent tiegħu fil-plenarja tal-Parlament Ewropew fi Brussell dwar ir-Reviżjoni tal-Patt ta’ Stabbiltà u Tkabbir, l-eks Prim Ministru Alfred Sant innota li fin-nuqqas ta’ baġit federali, ir-regoli tal-Patt ta’ Stabbiltà u Tkabbir ma kinux effettivi biżżejjed biex iż-żona ewro timmaniġġja l-istabbiltà finanzjarja. Huwa enfasizza li għal raġunijiet politiċi, ir-regoli tad-defiċit ma ġewx applikati bl-istess mod għall-Istati Membri kollha.

Il-Patt ta’ Stabbiltà u Tkabbir jifforma parti mill-qafas ta’ governanza ekonomika tal-Unjoni Ewropea. Dan jikkonsisti f’sett ta’ regoli mfassla biex jiżguraw li l-pajjiżi fl-Unjoni jsegwu finanzi pubbliċi sodi u jikkordinaw il-politiki fiskali tagħhom. Żewġ għanijiet tal-Patt ta’ Stabbiltà u Tkabbir huma li ma jħallux il-politika fiskali tal-Istati Membri tieħu direzzjonijiet li jistgħu joħolqu problemi u biex jikkoreġu defiċits eċċessivi tal-baġit jew piżijiet eċċessivi tad-dejn pubbliku.

“L-istati f’bilanċ pożittiv fiskali naqsu milli jniedu politika ta’ żieda fin-nefqa pubblika tagħhom ħalli b’hekk jippromwovu bilanċ makroekonomiku fiż-żona tal-euro kollha”. Fl-istess ħin, “ir-regoli servew biex irażżnu l-investiment pubbliku peress li meta kellu jsir tnaqqis fil-baġits nazzjonali dan fil-biċċa l-kbira twettaq fuq il-pakkett ta’ investiment”, saħaq Sant.

Il-MPE Laburista rrikonoxxa li l-aġġornamenti li qed jiġu proposti bħalissa huma maħsuba biex jikkoreġu dawn il-problemi. Madanakollu, il-proposti huma msejsa fuq l-anqas li seta’ jsir fl-isforz biex nilqgħu għall-isfidi, huwa sostna. B’riżultat ta’ dan, id-dilemmi li qamu fit-tfassil tal-politika tal-passat se jippersistu u l-istess se jippersisti l-iżbilanċ politiku fil-mod kif jissawru d-deċiżjonijiet mittieħda skont il-Patt ta’ Stabbiltà u Tkabbir, huwa wissa.

F’dan l-isfond, Alfred Sant appella biex il-bidliet fir-regoli jkunu aktar sostenibbli u aktar kuraġġużi. B’dan il-mod tkun żgurata aktar dixxiplina fiskali fl-Istati Membri kollha Ewropej. Huwa ppropona li għandu jkun hemm aktar flessibbiltà biex il-miżuri fiskali li jittieħdu jippermetu livelli ogħla ta’ investiment pubbliku, flimkien ma’ emfażi aktar qawwija fuq id-dimensjoni soċjali.

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Sant calls for increased flexibility in managing the euro to allow higher levels of public investment

In his input to the plenary of the European Parliament in Brussels about the Revision of the Stability and Growth Pact (SGP), former Prime Minister Alfred Sant noted that in the absence of a federalising budget, SGP rules were not effective enough for the eurozone to manage financial stability. He emphasized that for political reasons, deficit rules have not been applied equally to all Member States.

The SGP forms part of the economic governance framework of the European Union. It consists of a set of rules designed to ensure that the countries in the Union follow sound public finances and coordinate their fiscal policies. Two objectives of the SGP are to prevent the Member States’ fiscal policy from taking directions that could create problems and to correct excessive budget deficits or excessive public debt burdens.

“States in fiscal surplus declined to launch expansionary policies so as to promote macroeconomic balance across the eurozone”. At the same time, “the rules have served to restrict public investment as needed budgetary cuts largely targeted investment envelopes”, Sant stressed.

The Labour MEP acknowledged that the updates that are currently being proposed are meant to correct these problems. Yet, the proposals are the lowest denominator of what could have been expected, he claimed. As a result, the dilemmas encountered in past policy making will persist and so will the political imbalance that swayed past the decision related to the Stability and Growth Pact, he warned.

Against this backdrop, Alfred Sant called for more sustainable and bolder rule changes to ensure more fiscal discipline across all European Member States. He proposed that there should be increased flexibility allowing for fiscal adjustments to carry higher levels of public investment, coupled with a stronger focus on the social dimension.