EU's Financial, Economic and Social Crisis Committee visits Portugal and Spain

EU's Financial, Economic and Social Crisis Committee visits Portugal and Spain

2011-01-11 08:56:24 GMT+7 (ICT)

BRUSSELS (BNO NEWS) -- The European Parliament's (EP) Special Committee on the Financial, Economic and Social Crisis will visit Portugal and Spain this week to assess the impact of the debt crisis and debate possible ways out with national politicians, economic stakeholders, industry and social partners, the European Union (EU) said Monday.

A delegation of the EP committee will be visiting Portugal and Spain's capital cities of Lisbon and Madrid, respectively, from Tuesday to Thursday. During the visit, the delegation will meet political representatives and citizens to gather facts for the Committee's report on the Financial, Economic and Social Crisis (CRIS), to be completed in July.

Separately, in the coming months the EP and EU Member States are to thrash out a package of legislative rules and sanctions to strengthen economic governance in the EU, in a bid to prevent future debt crises.

These rules will flesh out the agreement reached by heads of state last December on the creation of a permanent stability mechanism.

The CRIS Committee was set up in 2009 to analyze and evaluate the extent of the financial crisis, the economic and social impact on the EU and its Member States and to propose appropriate measures for the long-term rebuilding of healthy and stable financial markets in order to support sustainable growth and employment.

In addition, it will also evaluate the implementation to date of the legislation in all areas concerned with the coordination of actions undertaken by Member States.

Likewise, the Committee will continue its fact-finding missions with visits to Ireland, Greece and the UK as well as to the European Central Bank in Frankfurt in order to ensure a close collaboration with national stakeholders at all levels.

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