Instead, it would be desirable for this to be part of a fundamental reform of the EU budget as a whole, with the focus resting squarely on designing and efficiently carrying out projects that can deliver added value for Europe.
As far as new European stabilisation facilities are concerned, we have to keep in mind that a lot of the declared stabilisation objectives can be achieved in a much less complex national form within the existing framework. In the event of a recession, member states with sound finances can themselves take fiscal countermeasures.