Party of European Socialists’ (PES) President Poul Nyrup Rasmussen lamented the lack of leadership shown by Merkel, Sarkozy and other Conservative Heads of State and Government: “The EU leaders have lost sight of the citizens. The Conservative majority in the European Council, but also in the European Parliament, keep digging deeper in a whole of their own making. Instead of giving room for investments in jobs and growth, they are imposing extremely regressive economic governance which undermines European solidarity, and stifles growth, employment and social cohesion.”

As the PES President urged on BBC Newsnight on the eve of the EU Summit; “what Europe needs is leadership. It needs leaders that can see beyond their short-term interests.”

He added that Social Democratic leaders are committed to a new coordinated approach that would deliver tangible results for Europe’s people.

There is now unfortunately a new institutional setting at EU level, creating a hierarchy that puts strong member states above weak EU institutions. As the PES made clear in its pre-Summit declaration, this balance must be urgently addressed.

The PES President welcomes the progress regarding a new loan to Greece, but reiterates concerns that the interest rates remain too high and the conditionalities too imbalanced. He also noted that it is unacceptable that the Conservative opposition in Greece is using the grave situation in the country to create further divisions. Now is not the time for new elections in Greece. It’s time for unity, not only in Greece but in the European Union as a whole.