Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-11-15-Speech-3-229"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20001115.10.3-229"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
".
Mr President, I would say to Mr Nogueira that clearly, in the model that we have defined, monetary policy is the responsibility of the Central Bank and it is the European Central Bank that takes action in line with the criteria established in the Treaty.
A problem of greater consequence is how to make a single monetary policy compatible with economic policies that are national in accordance with the Treaty. This operation consists of everything included under economic policy coordination, which has two basic aims: first, that the economic policies of the various Member States should not be incongruent with each other, and secondly, that they should not be incongruent with monetary policy either, generating a situation that could result in an over-restrictive monetary policy.
We mean to carry out this coordination basically through the instrument of major economic policy guidelines, which are applicable in each Member State that approves them and which include not only the major lines of economic policy but also specific recommendations for each Member State. As a result of the stability and growth plan, however, we have also launched the so-called stability programmes. Here we take a much more precise, more specific approach, since we are introducing just the public finance element.
The aim during this period has been to reduce government deficit in order to achieve a more flexible monetary policy, lower interest rates and greater growth. The stated objectives are being satisfactorily achieved. We hope next year we will achieve a zero deficit situation.
In these circumstances, as the body basically responsible for economic policy coordination, we in Eurogroup are planning to take our fiscal obligations further and, above all, improve the quality and sustainability of public finances, which will certainly mean an improvement in the Stability and Growth Pact and the tackling of more exacting topics with greater content."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples