Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-21-Speech-1-042"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2002-10-21"^^xsd:date2
dcterms:Is Part Of	lp_eu:Stability and Growth Pact2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20021021.4.1-042"2
lpv:hasSubsequent	lp_eu:2002-10-21-Speech-1-0432
lpv:speaker	lp:Karl von Wogau2
lpv:spokenAs	member; Committee on Foreign Affairs, Human Rights, Common Security and Defence Policy (2002-01-17--2004-07-19)3 unknown; Christlich Demokratische Union Deutschlands (1999-07-20--2004-07-19)3 member; Delegation for relations with the Mashreq countries and the Gulf (2002-02-07--2004-07-19)3 substitute; AFCO (2002-01-17--2004-07-19)3 member; EPP-ED (1999-07-20--2004-07-19)3 member; Delegation for relations with the NATO Parliamentary Assembly (2002-02-07--2004-07-19)3
lpv:translated text	"Mr President, ladies and gentlemen, I would like to start with a prefatory remark in order to highlight the climate in which we are engaging in debate. The countries belonging to the European Community have at present a mountain of debt totalling EUR 4 700 billion. What that means is that, taken together, the countries belonging to the European Community owe EUR 4 700 billion. The annual interest payments alone, by which this debt is serviced, amount to EUR 230 billion per annum – more than double the European Union's Budget. I am sure that you, Mr President of the Commission, will agree with me when I say that it would be stupid and idiotic to open these floodgates even wider at the present time. I will now turn to the Stability and Growth Pact, for which we have framed rules that are very clear. With the objective of balancing budgets, the deficit may not exceed 3%, and sanctions become operative if this 3% rule is not adhered to. That is the point at issue, and that is what we have to deal with now. It was an enormous help to your country's budget, at the time you were at the head of its government, that these rules create confidence. This confidence led to lower interest rates, and that took a great deal of pressure off your budget. My second point is that I believe it really would be stupid to gamble away these advantages now. Mr President of the Commission, you said that there is a need in Europe for an authority that would have an undisputed role of economic governance. You may not have used those words, but what you meant is a European economic government. That is a view that I share. In my view, that can only be the Commission. What is required of such an economic government, though, is that it should lay down rules and see to it that they are adhered to, in order that they may send out the right messages. Mr President of the Commission, by your interview with you sent the wrong message. What we expect of you today is that you should make good that error and should do as Parliament demanded on 2 May 1997 and apply the rules of the Stability and Growth Pact – not flexibly, but strictly and consistently."@en1
lpv:unclassifiedMetadata	"(Applause)"1 "Le Monde,"1

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