The debt crisis requires "a strong and coordinated transatlantic policy response", said lawmakers of the European Parliament and the US Congress meeting in Jacksonville, Florida, on 3-4 December. The legislators agreed to develop transatlantic working groups focussing on the financial markets and transport security.
"We had discussions on the financial crisis and markets, and agreed that the global markets need global rules. It is the responsibility of us, the lawmakers, to step up our cooperation in financial issues. The same applies to our other key debate topic, transport security", said Elmar Brok (EPP, Germany), chair of Parliament's delegation in Jacksonville.
Mr Brok added: "I am happy the US House Representatives agreed on joint working groups to this end." The legislators decided to develop joint EP-Congress working groups for input for their next meeting in 2012. Work has already begun on financial markets and stability, as well as transport security, and may later be enlarged to a third working group on agriculture and food safety.
The Members of the European Parliament and the US House Representatives discussed ways to increase EU-US trade and investment, and said that "removing transatlantic trade barriers is in urgent need". On budgetary policy, they agreed that it needs to be linked with structural reforms to ensure competitiveness and economic stability.
The legislators debated the newly negotiated EU-US Passenger Name Record Agreement, and said it "should reflect compliance with the principles of proportionality and legal certainty and incorporate an adequate set of safeguards". This new agreement has not yet been approved by the European Parliament.
The delegations discussed also the situation in Iran. Mr Brok said both delegations "expressed their solidarity to Britain, and condemned the attacks on the British embassy in Iran". "We all support the EU-US cooperation on the sanctions against Iran", he said.
The US House delegation was led by Representative Cliff Stearns (R-Florida). Delegations from Parliament and the Congress meet twice a year to focus on topical issues affecting citizens on both continents.
The The joint statement approved by the delegations is attached.
