Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-09-15-Speech-3-136"

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"Mr President, I am speaking in support of the Commission’s Communication entitled ‘Strengthening economic governance and clarifying the implementation of the Stability and Growth Pact’. It is important to return to economic governance because what we are seeing now stems from the Treaty of Maastricht, when Economic and Monetary Union was decided upon: Monetary Union was defined and realised, Economic Union less so. And the Stability Pact, which is now ten years old, was conceived on the basis of a degree of mistrust towards certain countries which appeared incapable of passing the exam. The European Union’s capacity for creation demonstrates that those who were the exam candidates are now the most virtuous and, curiously, those who demanded virtue are the ones who have sinned most. So this gives us hope in terms of European integration. Since then, we have introduced the euro, we have decided upon the Lisbon strategy, we have drawn up a Constitution – I would like to point out that all the representatives of the governments went to the Convention’s working group to oppose the implementation of economic governance. We are therefore obliged to review and update the Stability and Growth Pact, because in many respects it does not work – particularly in relation to growth – and because we have had to go to the Court of Justice to get certain States to apply it. I believe that this is what justifies both the Commission’s actions – which we clearly support – and the positive reaction of the Council, because, just as the European Central Bank has to be monetarist, the Council has to concern itself with the functioning of the economy."@en1

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