International

The SP will be directly represented in the body charged with conducting the European Parliament's enquiry into the causes of the financial and economic crisis and possible solutions. Euro-MP Dennis de Jong was this week chosen to be a member of the temporary special committee of enquiry into the credit crisis.

De Jong sees his work for the 'crisis committee' as an important complement to the activities of SP colleague Jan de Wit, who is chairing the Netherlands' own parliamentary committee on the matter, which will map out just how the crisis began and what must be changed to avoid such occurrences in future. “It's important not only in the Netherlands but also at European level to look into the question of whether EU policies, such as the continual pressure for freer movement of capital, has contributed to this crisis,” says De Jong, who predicts that “after this crisis financial policy can never again rely on the fairy tale that freedom equals happiness.”

The SP is, however, disappointed by the terms of reference of the committee of enquiry, as De Jong explains. “The European Parliament's biggest political group, the centre-right Christian Democrats, have denied the committee the right to look into the impact on developing countries, despite the fact that it's now clear that on a global scale those who can least sustain them have suffered the heaviest blows.”

The special committee on the financial and economic crisis consists of forty-five MEPs. Its mandate will last twelve months, and the official description of its tasks states that it must judge the impact of the crisis on the member states and propose measures for the reconstruction of stable financial markets. It will begin work immediately and will organise hearings with experts, representatives of both sides of industry, governments and national parliaments. In addition, it will provide advice to permanent European Parliament committees, including those with legislative responsibilities.