PES Party of European Socialists : Serious victory for the socialist family and for the EU citizens

PES President Sergei Stanishev welcomes European Commission's progress on promoting investment and growth

The Party of European Socialists welcomed the Commission's communication regarding the use of the flexibility in the Stability and Growth Pact as well as the legislative proposal on the European Fund for Strategic Investment (EFSI). It has been a long fight for our family to achieve this result. The PES has been calling since the beginning of the crisis against the austerity-only approach of the past, and for greater use of flexibility as well as for intensifying the use of investment. These are major drivers for stimulating growth, employment, and sustainable budgets.

Speaking from Strasbourg PES President Sergei Stanishev stated: "We finally start to see a real shift coming from the side of the Commission, and we must all welcome this. This is a clear sign that our political family's influence is growing. The main credit for this achievement should be given to Commissioner Moscovici who initiated this and the other Commissioners from our family who made this possible have secured a huge step forward. The EFSI will be a real tool to relaunch growth, stimulate investments, and finally drive Europe out of the crisis. The European Union will finally revert back to its role of driver of the European real economy. This more precise interpretation of the Stability and Growth Pact gives Member States more opportunities for investment in creating jobs and economic growth. It is positive to witness that Europe has started to discard conservative taboos and is moving towards a more progressive path to the benefit of all its citizens".