Schulz on the social dimension of Economic and Monetary Union

The Communication on the strengthening of the social dimension of Economic and Monetary Union is a long-awaited and overdue announcement. The Communication, although well-meaning, is not ambitious enough. It is largely based on Commission reviews of Member States policies, without the direct involvement of the European Parliament; it therefore lacks the democratic input that the European Parliament can bring.

Nevertheless, I welcome the specific proposal to establish a scoreboard to follow employment and social developments. Economic and Monetary Union is not only about growth and deficit figures, it is about the real impact on the people's standard of living.

The inclusion of monitoring indicators on youth and long-term unemployment rates and on poverty levels is a strict minimum. The European Commission must step up its work on social inclusion. The Treaty states that the European Commission must take into account requirements linked to the promotion of social cohesion when proposing law. This is an obligation that the Commission seems to have left unfulfilled for some time now.

The fight against youth unemployment must be the EU's number one priority. In addition to the 6 billion euro set aside from the EU to tackle youth unemployment, Member States should invest resources to ensure the implementation of the Youth Guarantee scheme that they have already signed up to."

Finally, I hope that Member States will endorse the agreement reached yesterday with the European Parliament on the European Social Fund, whereby a 25 per cent share of all cohesion funds will be devoted to the European Social Fund."

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