Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-06-08-Speech-3-294"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20050608.21.3-294"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
".
Mr President, unfortunately the credibility of the European Union has been increasingly questioned over the past few weeks. Rather than trying to construct a new consensus, as Mr Barroso suggested last week, we should concentrate on strengthening the current European consensus on competitive markets, fiscal discipline and hard currency.
Sound economics, realism and results are what citizens are demanding and what are needed to continue to build the European project. Economic reform is needed to create vibrant economies, as has been proven in a number of cases in Europe. If we want enlightened social policies, in the European tradition, we need to reform our economies. The examples are there for all to see.
The revised Stability and Growth Pact gives more countries more time to correct excessive deficits and provides more leeway for countries with strong public finances. Monetary union requires this level of flexibility, so that more internal market competition can be stimulated. The one-size-fits-all situation was always going to be a problem. However, some countries need to cut back on their budgets and others – like my own, Ireland – need to spend more on infrastructure, because they have a deficit, but that is not allowed under the rules. However, giving an inch in terms of flexibility does not mean countries are allowed to take a mile in terms of widening fiscal deficits. Enforcement of the rules is the key. There must always be confidence in the fiscal framework that underpins the European Union.
The recent drop in the euro has been used as a convenient whipping boy for all that has happened recently with the European Constitution. The problem is not with the euro. The problem in some countries is that they are avoiding the stark reality that the world economy is changing and will continue to change. Today’s world economic order demands a lot more, a lot faster and a lot cheaper. Going back to the basics of economics, countries either meet this demand or it will be met elsewhere. There is no point in lamenting over the basic economic principle; there is no point in arguing that we do not have a means of competing with the global economy. We do, and it is the Stability and Growth Pact. However, the failure to enforce these rules has left too many countries stagnating in an economic period that no longer exists.
We cannot continue like this, because it is undermining the credibility of the overall EMU framework. Consequently, this has had broader repercussions in sending a focused message to the citizens of Europe about the positive work of the European Union itself. This has never been more obvious than it is at present. Europe is suffering from a credibility problem and to deal with it we urgently need to evolve from rule makers to economic performers. Sound economics, realism and results are what the citizens want, and our job is to deliver."@en1
|
| lpv:spokenAs | |
| lpv:unclassifiedMetadata |
Named graphs describing this resource:
The resource appears as object in 2 triples