A smart and fair economy

In his introductory speech, Mr Dombrovskis pledged to improve the coherence, social fairness, and cohesion at the core of Europe’s economic model.

The new economic governance rules are fit for purpose, Mr Dombrovskis said, adding that he will make sure that they are enforced “in a credible and even-handed way”. Mr Dombrovskis stressed that the EU must stand united at international economic fora due to today’s “more fragmented world”, and that the euro should become a bigger force on the world stage.

MEPs asked about Mr Dombrovskis’s plans to ensure the full enforcement and implementation of economic governance rules, taking into account social and cohesion concerns. Others warned that the EU governance framework would condemn countries to never-ending austerity since the fiscal receipts side of budgetary stability was not modified.

There were questions on commitments for prescribing the phase-out of fossil fuel subsidies, improving the…