Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-09-05-Speech-3-408"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2001-09-05"^^xsd:date2
dcterms:Is Part Of	lp_eu:Medium-term financial assistance for Member States’ balances of payments2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20010905.13.3-408"2
lpv:hasSubsequent	lp_eu:2001-09-05-Speech-3-4092
lpv:speaker	lp:Helena Torres Marques2
lpv:spokenAs	member; Committee on Women's Rights and Equal Opportunities (1999-07-21--2002-01-14)3 substitute; Committee on Regional Policy, Transport and Tourism (1999-07-22--2002-01-14)3 unknown; Partido Socialista (1999-07-20--2004-07-19)3 member; ECON (1999-07-21--2002-01-14)3 member_of_the_bureau; PES (1999-07-20--2002-01-16)3 member; Delegation for relations with Australia and New Zealand (1999-10-06--2002-01-14)3
lpv:translated text	"Mr President, Commissioner, ladies and gentlemen, the Party of European Socialists supports the current Commission proposal because it seeks to simplify and modernise the sole mechanism of financial support for the balances of payments of the European Union’s Member States which are not part of the eurozone. The fact that only three countries, Great Britain, Sweden and Denmark, should benefit from this mechanism, in addition to the fact that this instrument has only been used twice since its entry into force in June 1988, justify a reduction in the overall sums earmarked for loans from EUR 16 to 12 billion. Other proposals also warrant our support, such as the possibility of the Commission undertaking swap operations, the recognition of the role of the Economic and Financial Committee and the need to make the support mechanism compatible with the possible opening, in the very short term, of a line of credit by the European Central Bank. Three problems have become clear, however, and I should like to hear Commissioner Solbes Mira’s position on them. Firstly, with the proposal to apply this mechanism to the countries included in enlargement, will it really not be possible to have imbalances appearing in the balances of payments of future Member States, given the substantial structural reforms that must be implemented in order to make accession possible? Mechanisms must, therefore, be planned forthwith to address these situations. Secondly, must and can this mechanism apply to candidate countries as early as the pre-accession period? Lastly, what advantage do we gain by having the Commission and not the European Central Bank supervising these loans? I wish to thank the Commissioner for the answers he may give us and I congratulate Mr Andria on this report."@en1

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