Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-06-08-Speech-3-291"
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"en.20050608.21.3-291"2
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".
Mr President, Commissioner, ladies and gentlemen, if there is one point on which I agree with the rapporteur, Mr Karas, it is that the proposed reform of the Stability and Growth Pact is still a very long way from giving Europe the capacity for economic governance that would allow it to satisfy all its citizens, both of this generation and those to come.
We are still a long way from the situation in the United States, a much more integrated federation than our own, where there is a significant federal budget, where there are rules for coordinating the budgets of the federal states, where budgetary policy and monetary policy are closely coordinated by Congress, where Congress is able to influence the options taken by the Chairman of the Federal Reserve and where the Federal Reserve’s objectives are wider than mere price stability.
Having said that, I believe that Commissioner Almunia’s proposals, from the previous term of office to their adoption by the Council in a more improved version, are an extremely positive step, and our Group will oppose the calls – from the Group of the European People’s Party (Christian Democrats) and European Democrats in particular – for backtracking to what the former Commission President called a more stupid pact. We think we have taken a significant step towards an intelligent pact.
If we may still make a contribution, simply by way of clarification, we suggest, in one of our amendments, both including education expenditure alongside research expenditure among the relevant factors that might justify an increase in the deficit, and making explicit mention of expenditure for the stability of the world’s ecological balance among the Union’s objectives. By this we mean expenditure for the implementation of the Kyoto Agreement."@en1
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