Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-09-15-Speech-3-144"
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"en.20040915.6.3-144"2
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".
It is in the interests of Hungary, and presumably in the interests of the newly-acceded countries, that the euro should remain strong and become attractive for the population since, we too have to step into this zone and it will be extremely useful for us too.
I support the fact that, in the interests of the euro’s prestige, there should be strict framework rules for the Member States and this is why I do not agree with the weakening of the Stability Pact, or in an extreme case, its abolition. I also agree that the Commission had examined the experiences of previous years and, in the area of implementation, it foresaw more flexibility which must, however, strengthen the willingness to observe strict framework conditions. I also agree with the Commission’s approach that several views must be considered when revising the Pact, such as supportable state debt, protracted slow growth, harmonisation and co-ordination of economic and budgetary policies. One must be careful however, that for the unity of the requirements system an equal judgment must prevail. I see that as a very important criterion.
As for myself, I believe that it would be very complicated to work out a country-specific conditions system. Instead, one ought to concentrate on the individual characteristics of the economic situation and incorporate this into the whole system. Apart from such a characteristic as excessive indebtedness, there could be other aspects to consider such as the excessive openness and vulnerability of small countries, but, above all, the consideration of the principle according to which one of the most important aims of the Union is cohesion, that is, the joining up of less developed countries and regions that are lagging behind.
This is particularly pertinent to the ten out of the twenty-five Member States, the newly-acceded states where, apart from ensuring conditions of growth, one must pay attention, when assessing the observance of the criteria, to certain reforms in public spending, such as for example the reform of the pensions system, the need for a quota of higher investment and the appearance of an occasional higher rate of inflation. But these of course, in these circumstances, are economic phenomena."@en1
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