Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-11-Speech-3-291"
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"en.20070711.27.3-291"2
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"Madam President, Mr Juncker, Mr Trichet, ladies and gentlemen, it is neither paradoxical nor contradictory to endorse the conclusions of the excellent reports that have been submitted to us and to support the courageous and determined action of the French Government to carry out the necessary reforms and to promote growth. It is neither paradoxical nor contradictory because France has made a comeback in Europe. By solemnly declaring his commitment to European integration, the President of the French Republic has made a powerful contribution to reviving Europe and to breaking the deadlock that it was in. The agreement that was reached during the Brussels Summit, thanks to the efforts of Chancellor Merkel, is the first practical example of this.
One of the aims is to improve the way in which the Eurozone operates. The Stability and Growth Pact, which since 1999 has provided a framework for the budgets of the Eurozone countries and which defines the budgetary discipline that the Member States must apply in order to prevent any excessive deficits from emerging, must be applied systematically, because it helps to establish monetary stability. Quite clearly, France, despite what may have been said, is not calling into question the rules of the Stability and Growth Pact, which remain fundamental. However, we need to adhere to its criteria without losing sight of the objective of growth. It must be applied intelligently and dynamically.
It is in this spirit that the President of the French Republic was anxious to provide the necessary explanations regarding the ambitious structural reform programme that he is going to implement. The fruitful dialogue that has begun has made it possible to clarify the positions. Mr Sarkozy has confirmed his commitment to do everything possible to meet the objective in 2010, if the boost to growth that he expects from these measures produces the results that he anticipates in terms of tax revenue. France has already committed itself to bringing its government deficit down to 2.4% as from 2007. There will be no let up in the efforts to consolidate the budget in order to reduce the public debt.
I am among those who believe that Eurogroup’s role must be strengthened. Equipped with a stable and high-quality president, it must pursue its quest for consistent and coordinated national economic policies. Finally, in this way, with respect shown for the independence of the European Central Bank, Eurogroup will be able usefully to counterbalance the implementation of growth- and employment-oriented economic policy."@en1
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