Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-02-22-Speech-2-034"
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"en.20050222.4.2-034"2
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"Mr President, ladies and gentlemen, the need for reform of the Stability Pact is also clear from the report on public finances in EMU. The Pact undoubtedly has an important role in terms of stability, but also needs to act as a stimulus to growth.
We are aware that Ministers at the Ecofin Council meeting are preparing the text for the reform, but Parliament must not opt out of the debate. It would therefore be desirable, prior to the final decision by the Council, for Parliament to have an opportunity to express its views on the procedures for reform of the Pact by holding a debate on the subject. Since the debate in September, Parliament appears to have adopted a passive stance, whereas it should instead be exercising a key role in the reform process, above all allowing all Members and groups to give a clear outline of the possible strategies.
We have to be practical and realistic. We cannot state in our documents that we have to become the most competitive economy in the world, while at the same time the figures are clearly showing growth to be stagnating. The Pact therefore has to be reformed. I refer to more flexible ways of applying the Pact during periods of economic difficulty, to the need to give due credit for the structural reforms undertaken by Member States, and, possibly, to allow expenditure on investments in support of the – still remote – objectives of the Lisbon strategy to be excluded.
To conclude, I believe Parliament must resume an active role in this debate, as the only institution directly representing the citizens of the Union."@en1
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