The European Union is on the brink of a “worst-case scenario”, warned Philippe Lamberts, co-president of the Greens and long-time Member of the European Parliament.
Mr Lamberts expressed his concerns ahead of a crucial vote in the European Parliament on Wednesday regarding the reform of the EU’s rules for national debts and deficits, known as the Stability and Growth Pact.
He painted a bleak picture, cautioning against the potential consequences of the proposed rules. He argued that the new regulations, designed to replace what was deemed unrealistic and inadequately enforced, could inadvertently lead to a resurgence of austerity measures.
This, he added, could end up setting the stage for the rise of far-right movements and national populism. “Actually, the new rules are equally detrimental and equally unworkable,” he said in an interview with Euractiv and EUObserver.
“But at least they will be tried, which means that their freezing effect on public finances will happen regardless of us meeting the targets or not.”
The Greens’ co-president stressed the potential return of austerity policies and their known repercussions. “That means that austerity will be back. And you know what austerity breeds? It breeds the far-right. It breeds national populism,” Lamberts cautioned.
In what he described as a “worst-case scenario”, Lamberts raised the alarming possibility of Russian President Vladimir Putin gaining the upper hand in the ongoing conflict in Ukraine.
He pointed to the potential consequences of diminished support from key global players, including former US president Donald Trump, whose withdrawal of support could leave Ukraine vulnerable.
“Why does he win? Because Trump stops supporting Ukraine, and we have decided that we don’t want to put the money behind our words, so basically we let Ukraine down,” Lamberts explained.
In Lamberts’ dire assessment, the implications for the European Union are severe. “That’s the end of the European Union as we know it. Maybe it will still exist, but it will be a paper tiger at best.”
Describing the situation as “sleepwalking Europe into a disaster”, Lamberts expressed his deep concern about the potential consequences of the new fiscal rules.
“This is the biggest case of sleepwalking I have ever witnessed,” he concluded, urging for careful consideration and thorough deliberation in the upcoming parliamentary vote.
