Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-09-15-Speech-3-116"
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"en.20040915.6.3-116"2
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"Mr President, ladies and gentlemen, I am strongly opposed to some countries not complying with the Stability Pact and to the European Commission allowing any kind of discussion on a possible relaxation of the Pact. I believe that soft budget rules equal higher debts, and I believe that relaxation and non-enforcement of rules equal a loss of credibility for the entire European Union. The only message we are sending out about ourselves is that it is not those who prosper, make a profit and create jobs who are held up as an example in the European Union, but those who live on credit and put off finding a solution to their countries’ economic problems.
Let us not hide from the fact that in Europe today a number of Member States are struggling with stagnation, high levels of unemployment and growing debts. I therefore believe that any display of leniency by the European Union would be out of place. In my opinion, the Commission must instead bring greater pressure to bear on the prosperity of individual countries, as well as calling for budgetary restraint, the reduction of debts and the creation of new jobs in these countries, and, above all, ensuring that the rules which the European Union has laid down for itself are complied with.
I would like to point out that it will not be this House, or the spin doctors of individual politicians or individual governments, which pass judgement on the Commission’s economic measures, but the global market, and the market is well known for imposing extremely heavy penalties on debtors and those who are unreliable. If the rules are relaxed, I believe that we will see a massive stampede of firms out of the European Union to Asia and Ukraine, or quite simply to regions where taxes are lower, the workforce is cheaper and, it must be admitted, the social state is cheaper.
Neither prosperity, nor more jobs, nor a greater competitiveness of the European Union in the global economy can be achieved by a relaxation of stability and growth. Unless the European Commission realises this and puts the brakes on spending which is not based on economic results, the Stability and Growth Pact will turn into an Instability and Failure Pact. I thank you for your attention."@en1
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