Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-06-08-Speech-3-301"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2005-06-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Budget/Economy2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20050608.21.3-301"2
lpv:hasSubsequent	lp_eu:2005-06-08-Speech-3-3022
lpv:speaker	lp:Udo Bullmann2
lpv:spokenAs	substitute; Delegation for relations with South Africa (2004-09-15--2007-03-13)3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2004-09-15--2009-07-13)3 member; PES (2004-07-20--2009-07-13)3 unknown; Sozialdemokratische Partei Deutschlands (2004-07-20--2009-07-13)3 substitute; EMPL (2004-07-21--2007-01-14)3 substitute; Delegation for relations with the countries of Central America (2004-09-15--2007-03-13)3 member; ECON (2004-07-21--2007-01-14)3
lpv:translated text	"Mr President, Commissioner, ladies and gentlemen, I should like to thank Mr Karas and the House’s shadow rapporteurs for the report we are debating. You have cooperated well and succeeded in pulling this important discussion out of a superficial, ideological debate and ensuring that this House is able to help reform the Stability and Growth Pact, something that is urgently needed. Why do I say that the reform is urgently needed? Let us simply review the economic facts. We have designed a pact which has lived solely by the idea that it has to combat inflation. This is an important objective and many Member States have managed to achieve it to a large degree. However, at no time was it designed for an Economic and Monetary Union in which we also urgently need to achieve macro-economic coordination, because we need to have the flexibility required in order to be able to react appropriately in an economic cycle, in both large and small national economies. Compare the data situation in the USA with the data situation in the European Union. Since 2002, the USA has been in a much better position to react to external shocks: to rising oil prices, to September 11, to the crisis on the stock markets. Why? Because its central bank was able to be much more flexible than the European Central Bank and, more importantly, because financial policy did what was needed in the short-term economic situation at the time. We need flexible and better coordination of our financial policies, so that we can restore trust in the European economy, but, first and foremost, for the sake of our jobs."@en1

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