We welcome the Greek Prime Minister’s proposal, that the European Parliament should play an active role as the fifth institution responsible for overseeing the new memorandum with Greece. The European Parliament has demanded a stronger role in the oversight of policies implemented under the memoranda and has been critical of decisions taken by the Troika in the past without such oversight. It is the responsibility of the European Parliament to insist on an implementation policy that takes full account of agreed European goals and of European values.

We call upon President Schulz to raise Prime Minister Tsipras’ proposal with the Vice-Presidents of the Parliament and the Presidents of the political groups as soon as possible. We call upon the other four institutions to facilitate a speedy adoption of an interinstitutional agreement with the European Parliament on this issue.

It is high time to strengthen democratic and parliamentary responsibility on the European level as an answer to the swelling chorus of nationalisms that have benefited from an overly technocratic approach to highly political and socially very sensitive issues during the present European crisis.