Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-04-25-Speech-3-434"
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"en.20070425.40.3-434"2
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"Mr President, ladies and gentlemen, having sustainable public finances in the countries of the Union is of vital importance not as an aim in itself, but as a means to implement the European social model, which is characterised by research, investment, innovation and competitiveness, social cohesion, and environmental and energy sustainability.
The new, revised Stability and Growth Pact should not be seen as the only instrument for coordinating economic policies in the European Union, but it must be used in conjunction with the integrated growth and employment guidelines and with the goal of political and economic coordination of the euro zone.
The more the text we approve results in uniform procedures, common shared parameters and a joint debate on budget projections, the more significant it will be. That does not mean, however, that we want a purely accountancy-based approach. Ensuring that the deficit and public debt are reduced will require the implementation of strict measures, but proactive measures aiming at sustainable economic and social development are also needed.
I too should like to point out the fact that calling for the Member States to declare an excessive deficit as being nationally unconstitutional is highly debatable, not least from the legal standpoint of the formulation of relations of subsidiarity between the Union and the Member States.
To conclude, I think it is important to emphasise what role we want to play, that is to say, to lay the foundations for a sustainable European public finance system aimed at growth."@en1
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