Tsakalotos: Democratic, credible procedures are prerequisite for new Europe

The commitment for democratic and credible procedures must be a prerequisite for the architecture of the new Europe, so that citizens can participate in the process, Finance Minister Euclid Tsakalotos said in a speech on the future of Europe, held at the Elliott School of International Affairs of George Washington University, in Washington DC.

Tsakalotos said there should be social accountability in terms of goals, involvement of citizens so that they do not alienate themselves from the processes and stop centrifugal, populist forces from gaining ground.

According to the minister, the discussion on the future of Europe must be connected with democratic processes as well as with the economic and social developments both in Greece and in other European countries.

During his speech and the discussion that followed, participants focused on different aspects of the new architecture of Europe, such as monetary policy, fiscal policy and the operation of the European budget as an automatic stabilizer.