Europarliament VP Papadimoulis: Institutions should meet their commitments at the next Eurogroup

Europarliament vice president Dimitris Papadimoulis on Tuesday asked the immediate turn from austerity to development policies at a plenary debate in Strasbourg.

Papadimoulis underlined that Greece respects its commitments and on their part the European institutions must respect their own on the debt and quantitative easing. The doctrine “austerity-austerity-austerity” has failed, Papadimoulis said during a debate on the 2015 ECB report in the presence of ECB president Mario Draghi and European Commission vice president Valdis Dombrovskis.

“The eurozone needs to turn to sustainable and high growth. And it needs it now. This means more investments and higher demand, particularly in countries with higher primary surpluses such as Germany,” he said.

Papadimoulis referred to the need to complete the bank consolidation with the creation of a European Deposits Guarantee System and asked for the extension of the quantitative easing programme after March 2017 with the participation of Greece.

“The Greeks meet their commitments and proceed with important changes despite the huge sacrifices. But we feel that we live for years the myth of Sisyphus. It’s time you, the European Commission, the ECB along with the Eurogroup to respect your commitments on 5 December. For the debt relief and the quantitative easing”, said Papadimoulis