Reforming the Eurozone

The European Union must act more quickly and more effectively

blue and yellow stars flag on pole

European Democratic Party Priority Actions

In an ever-changing world, reforming the eurozone is a complex issue that requires an ambitious initiative and collective action.

Our proposal is clear: a courageous reform of the eurozone. We are determined to create an economic union that not only withstands crises but becomes even stronger and more prosperous.

In the face of the threat of the return of inflation and low growth on our continent, we are responsible for building a stronger eurozone, an area that resonates with growth and convergence between all member countries and whose operation will be optimised.

The unity of the European Union remains our most valuable asset. Still, knowing that each Member State has unique economic characteristics and needs, we propose a balanced approach that will encourage the development of common standards while taking into account national specificities. This approach will be the key to implementing effective structural reforms, strengthening the capacity of our economies to grow together and withstand turbulence from outside.

Reform also means modernising the eurozone. We want to create the digital euro while taking care not to eliminate liquidity. This innovation will offer citizens a new payment tool, capitalising on the transformative capacity of digital currencies. This digital euro will not be a replacement for cash but a new method of payment.

While respecting the fundamental principles of confidentiality and convenience of payments, the creation of the digital euro will propel our common currency to the forefront of the 21st century and enable us to retain our monetary sovereignty in the face of other major powers who are also developing their digital currencies.

CONVERGENCE TO BECOME STRONGER

  • Recognise the importance of country-specific approaches.
  • Facilitate harmonious growth throughout the eurozone and strengthen financial stability.
  • Encourage investment to achieve key objectives such as the twin green and digital transition and the EU’s strategic autonomy.

STRUCTURAL REFORMS

  • Work towards a eurozone where economic challenges are tackled collectively and align our budgetary policies.
  • Propose a stricter and more transparent adherence to existing budgetary rules.
  • Ensure responsible budget management to address disparities in employment, growth and productivity and take better account of climate-related risks.
  • Promote equitable economic development throughout the eurozone while encouraging the public investment necessary for a just transition to a carbon-free economy.

COMPLIANCE WITH BUDGETARY RULES AND COOPERATION

  • Promote economic cooperation and new joint investments (particularly in digital, ecological and security fields).

DIGITAL EURO

  • Introduce our digital currency to retain monetary sovereignty and consolidate the eurozone as a world leader.

PAYMENT METHODS OF THE FUTURE

  • Develop digital financial identification across the EU, enabling customers, banks, and investors to easily recognise identification from other EU Member States.

  • Push the European Central Bank (ECB) to better monitor large liquid and digital transactions to combat money laundering, tax evasion financing terrorism and organised crime.

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