Parliamentarians debate the European financial crisis

2012-WM-Vienna-Serhiy Shevchuk-Semyon DzakhaevOSCE PA Senior Counsellor Semyon Dzakhaev speaks with Committee Chair Serhiy Shevchuk before the meeting, 23 Feb 2012.VIENNA, 24 February 2012 – OSCE parliamentarians debated the economic and financial crisis in Europe in the Parliamentary Assembly's General Committee on Economic Affairs, Science, Technology and the Environment yesterday.

Chaired by Ukrainian parliamentarian Serhiy Shevchuck, the committee pointed out that austerity and recovery policies should go hand in hand. Parliamentarians agreed that European states should show greater solidarity, but also work toward fiscal convergence by cutting deficits and balancing budgets.

In addition to the debate on the economic crisis, the committee's agenda included a presentation by Rapporteur Tony Lloyd, who outlined his ideas and intentions regarding his report for the Annual Session in Monaco.

Lloyd encouraged participating States to discuss which economic policies ought to be implemented in the OSCE region and underlined the need to create growth to alleviate the long-term cost of unemployment. The Rapporteur encouraged the PA to examine the politics of economic management, with a particular focus on education and the environment.

Parliamentarians discussed the rapporteur's intentions and emphasized the need to create better opportunities for the youth. Participants also agreed that the green economy should be used as a tool to promote growth.

Ambassador Eustathios Lozos, the Chair of the OSCE Economic and Environmental Committee, stated that the Economic and Environmental Dimension "remains an essential and indispensable part of the OSCE comprehensive concept of security."

He argued that the current financial crisis could emerge as a menacing security threat. In order to enhance dialogue between Participating States, Ambassador Lozos announced his intentions to support the Irish Chairmanship-in-Office in pursuing good governance, to ensure a proper follow-up to Ministerial Council decisions, and to review the 2003 Maastricht Strategy.

Goran Svilanovic, the Co-ordinator of OSCE Economic and Environmental Activities, presented his working agenda for the year 2012. He pointed out that the 20th Economic and Environmental Forum will have a special focus on the Promotion of Security and Stability through Good Governance. Mr. Svilanovic announced that his priorities will be to promote good governance and transparency, to fight corruption and to combat money laundering and the financing of terrorism.

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