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Sofia Fernandes

Sofia Fernandes

Sofia Fernandes is Senior Research Fellow at the Jacques Delors Institute (JDI) since January 2010 ...
Jacques Delors

Jacques Delors

Jacques Delors was President of the Economic Monetary Affairs Committee of the European Parliament ...
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Endowing the EMU with a Social Dimension

on October 31, 2013, 10:55
Tribune - Sofia Fernandes and Jacques Delors

Our October Viewpoint, co-signed by Jacques Delors and Sofia Fernandes, comes back on the necessity for endowing the EMU with a social dimension treating four complementary issues:

1 - A social dimension based on the completion ofthe 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.

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