Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-04-25-Speech-3-431"
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"en.20070425.40.3-431"2
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"Mr President, Commissioner, I should like simply to say to the previous speaker that this report clearly does not relate to the issue of enlargement of the euro zone but indeed to the state of public finances within the European Union.
As such, I should like to warn this House against a temptation introduced by the rapporteur and unfortunately validated by our committee, which is to totally throw out of kilter the reform of the Stability and Growth Pact in the form in which it has been carried out, for the report proposes nothing less than for us to regard the public deficit as unconstitutional. I hope that this House will have the wisdom to censure or put right this assessment, which I feel is completely at odds with the optimal use of public finances, which must obviously contribute to financial stability and make it possible for future generations not to have to fund our debt. However, I also feel that, if we want to be consistent with our strategy – which requires long-term investment – the idea of regarding any public deficit as unconstitutional is a narrow-minded way of thinking, to say the least.
I should also like to emphasise that the contribution of this report to the greater coordination of economic policies and the dynamic vision of Mr Juncker and of Commissioner Almunia will enable us to progress slowly – too slowly, but safely, I hope – on the path to coordinating budgetary timetables and to taking better account of consistent macroeconomic data for the euro zone as a whole. I have great hopes that what has just taken place at the Eurogroup, namely a dynamic discussion before each Member State launches into the definition of its own budgetary strategies, will become the rule, at the very least within the euro zone.
Allow me, on behalf of the Committee on Economic and Monetary Affairs, to state that, if this were to become the rule, it would obviously be important for the parliamentary dimension of such an anticipation of national budgetary strategies to be strengthened, and that would depend on constructive cooperation being established or enhanced between the European Parliament and the national parliaments."@en1
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