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EP sets up working group to scrutinize Greece’s adjustment program

And Greece’s auditors, the Quadriga becomes…Quinquatria. The leaders in the European Parliament have today approved a proposal by the Liberal and Democrat Group to monitor and scrutinize the implementation of macroeconomic adjustment programmes in countries such as Greece. According to a press release, the Parliament’s Economic and Monetary Affairs Committee will be tasked with the democratic oversight role. It will be assisted by a Financial Assistance Working Group (FAWG) comprising 30 MEPs, which will follow up on the implementation of the financial assistance programmes in more detail.

The working group will hold regular meetings with the four involved institutions (European Commission, ECB, IMF, ESM) and the Greek Government. The focus of the working group will be the parliamentary scrutiny of the decision making process.

Last summer, neoliberal Guy Verhofstadt, leader of the Alliance of Liberals and Democrats for Europe (ALDE) group, wrote to European Parliament President Martin Schulz, to find a way to give the European Parliament an oversight role.

Martin Schulz became a devoted supporter of the idea, even though President Jean-Claude Juncker had rejected such an option. also Greek Prime Minister Alexis Tsipras had accepted such a proposal.

Verhofstadt commented on this development that he was “delighted” about the  role of the “European Parliament in scrutinising the implementation of the financial assistance programme for Greece. This will strengthen the monitoring of Greek reforms.”

”The European Parliament and elected MEPs can now play the role they deserve in helping to deliver positive change for Greece.

So, the neoliberal, pro strict austerity front gets now one more helping hand in tying up Greece.

PS To this I can say only one thing: too many cooks spoil the broth

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One comment

  1. Europe is slowly and surely destroying itself
    And we, the rest of the world are watching in wonderment.
    It is like watching someone cutting off their fingers one by one – All the while trying to make them understand that it is to their detriment – That they will be seriously handicapped – But they will not listen.