Endowing the EMU with a Social Dimension
Our October Viewpoint, co-signed by Jacques Delors and Sofia Fernandes, comes back on the necessity for endowing the EMU with a social dimension based on the completion of the EMU and respect for national competences.
2 – A social dimension to limit the negative impact of the single currency on national welfare states;
3 – A social dimension to ensure the smooth functioning of the EMU;
4 – A mainstreamed EMU social dimension toact not as a curb on EU-28 Social Europe but as a driving force behind it.
This social dimension is necessary on several counts:
not only to compensate for the impact of the crisis but also to limit the
negative impact of the common currency on national welfare states, to ensure
the smooth functioning of the euro area and to reconcile Europe’s citizens with
the European project.