Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-05-03-Speech-4-014"

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"en.20010503.2.4-014"2
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"Mr President, ladies and gentlemen, this debate provides us with an opportunity to consider the present state of the European economy. Although this was generally encouraging in the year 2000, and we have enjoyed high growth rates, job creation and monetary stability, many hard questions have now to be asked concerning the development of these factors. Consequently, considerable pressure will be exerted in some countries, as is already the case in the European Union as a whole, to move towards more expansionist policies. Obviously, such a move could come into conflict with the commitments given within the stability pacts relating to Member States. For this reason, we consider that certain parts of the report we are debating today are particularly apposite. These are the sections highlighting the need to maintain budgetary discipline and to avoid undertaking to reduce taxes, a promise often given in the run-up to elections, unless corresponding balancing measures are adopted. We also endorse something Mr Katiforis is constantly stressing, namely that there should also be balancing measures for productive investments. Investments of this sort will improve the productive structure of the European Union and make us much more competitive. I would like to end by highlighting the need to maintain this coordination and the agreements established in the stability programmes. I also wish to point to the need to strengthen control of economic and monetary policy. We believe this is still unduly fragmented. Obviously, the capabilities and coherence of the management will be put to the test when it is presented with greater problems in the future."@en1

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