Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-06-22-Speech-3-183"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20050622.20.3-183"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
".
Mr President, with the positive vote of the Council common position, the European Parliament can clear the way to a fruitful conclusion on what has been a long, intense and yet constructive reform debate. The Commission indicated the need and the main avenues for improving the functioning of the Stability and Growth Pact in its communication of 3 September 2004. After several rounds of discussion, the Ecofin Council met again on 20 March, reached agreement and adopted its report on improving the implementation of the Stability and Growth Pact. On 22 March 2005, the European Council endorsed the report stating that it updates and complements the Stability and Growth Pact.
The main aim of the report is to enhance governance and the national ownership of the EU fiscal framework by strengthening its economic underpinning, while safeguarding the sustainability of public finances and promoting growth. We hold the view that, overall, the agreement is balanced and provides an appropriate basis for restoring national ownership of the fiscal framework. If fully implemented it has the prospect of reinforcing fiscal discipline and growth support of fiscal policies.
On 20 April 2005, the earliest possible date following the agreement, the Commission adopted the two proposals amending the two Council Regulations – (EC) No 1466/97 and (EC) No 1467/97 – which underpin the pact.
Parliament and the Council have immediately begun discussing the Commission proposals in a constructive spirit. All parties strove to bring the process to a successful conclusion swiftly. I would like to express the Commission’s gratitude, in particular to the Parliament for its cooperative attitude, thereby making it possible to finalise the amendment procedure during the Luxembourg presidency.
Earlier this month, the Parliament adopted at first reading a number of amendments to the Commission proposals. The Council, taking account of Parliament’s opinion, agreed on its common position shortly thereafter. In its position however, Council could not agree on taking on board any of the amendments proposed by the Parliament. Nevertheless, the changes adopted by the Council with respect to the Commission proposal go in the direction of further clarifying the implementation of the preventive part of the Stability and Growth Pact in line with the overall thrust of the amendments tabled by Parliament. Other changes envisaged by Parliament, namely those in the statistical field, have been considered by the Council in the finalisation of the legal acts directly linked to the statistics of public finances.
In the view of the Commission, the inclusion of some of the amendments tabled by Parliament could have strengthened the proposed regulation further. However, after careful consideration, the Commission decided to accept the Council common position.
Overall, the revisions made to the Stability and Growth Pact are balanced; they will give the pact a new vigour and provide a better framework for an economically sensible implementation of the rules. The Commission is committed to a balanced and rigorous implementation of the reformed pact. It continues to closely monitor the budgeting situation in all Member States. It will use its right of initiative where appropriate, as it has done in recent days. As you know, the Commission decided to initiate excessive deficit procedures for Italy and Portugal. We expect the procedures to be seen as a means of supporting the fiscal consolidation needed in both countries to return to high economic growth. A cooperative approach to ensure the smooth implementation of the excessive deficit procedure will contribute to the credibility of the renewed framework and of the overall functioning of EMU in this challenging period."@en1
|
| lpv:unclassifiedMetadata |
Named graphs describing this resource:
The resource appears as object in 2 triples