Main menu (press 'Enter') Access to page content (press 'Enter')
Economic governance package explained  Preventing, fixing macro-
economic imbalances  Demonstration May 27, 2011 in front of the
Greek Parliament against a new austerity
package©BELGA/AFP/A.Messinis   Trying to prevent imbalances
©BELGA/AFP/A.Messinis  The current economic and financial crisis
can be explained partly by economic imbalances between Member
States and within the private sector. To prevent and correct
those imbalances at an earlier stage, Parliament proposes a new
early warning mechanism as part of the package on economic
governance. We asked some MEPs to explain further.  Why does it
matter if member states' economies differ?  "Given that we share
the same currency, if we end up in a situation in which we have
social imbalances in one country, it will impact everyone's
economy," Belgian Green Philippe Lamberts said.  Greek GUE/NGL
member Nikolaos Chountis notes "when you are a member of an
economic and monetary union, which faces h