Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-10-03-Speech-3-189"
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"en.20011003.6.3-189"2
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"Mr President, all possible measures must be taken to ensure that Europe can provide a real answer to the consequences of the horrendous terrorist attacks in New York and Washington, and a part of that, Madam President-in-Office of the Council, has in fact already been done, namely a joint response from the EU finance ministers. I think this symbolises Europe's ability to close ranks when the chips are really down. I believe that this policy should also be pursued further in relation to aid policy. However, it should also give us the flexibility we need, so as to demonstrate that Europe does not want the economic downturn to be further exacerbated.
We do in fact have a Stability and Growth Pact that gives us many possibilities, because on the one hand we wish Europe to be a Community of stability, and on the other hand we also want to promote growth and employment. It is no accident that when applying the convergence criteria, exceptional circumstances have sometimes been applied and approved which allow the definition of an excessive deficit to be deviated from. I do not mean by that to speak in favour of a ‘Community of instability’. Just the opposite in fact, I wish to call on the Belgian Presidency and the Commission to contribute to further coordination in this area, by taking advantage of the fact that stability programmes can be updated. I would like to see updated stability programmes for the euro countries which make it clear that the data has significantly changed. What is needed in this context, as you quite rightly said yourself, Madam President-in-Office of the Council, is for us to avoid procyclical policies in Europe, in both the expansionist and restrictive senses. However, we can only do that if we can compare cyclically neutral budget data with structural deficits in updated budget figures. I think that it would be helpful if the excitement that this debate has generated in this House led to further progress being made both in economic policy and in stability policy. I say that because the European Union needs both monetary stability and employment and social stability."@en1
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