Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-417"
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"en.20081118.33.2-417"2
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".
Mr President, behind this obscure title, each person is assessing the importance of the discussion we are holding this evening following Hungary’s request for financing, which was first made to the International Monetary Fund (IMF). The European Union has looked at the issue to verify the conditions under which it could give its support to one of the Member States.
It is true that there was a discussion amongst the members of the Committee on Economic and Monetary Affairs as to why Hungary first approached the IMF. That is a question for Hungary as a country, as a member of the European Union of some years standing, and also for the institutions of the European Union in the sense that, manifestly, at this stage, we have been unable sufficiently to develop this climate of confidence, this climate of solidarity, this climate of cooperation to allow a country like Hungary, in its current difficult situation, to consider that its first circle of solidarity, its first circle of cooperation, should be the European Union.
I believe, finally, that the plan implemented for a balance of payments assistance facility, on the basis of Article 119, achieved on the initiative of the Commission and Mr Almunia, whom I thank, will allow an appropriate solution to be found jointly with the IMF.
Evidently, we all think now that, unfortunately, Hungary’s situation is not an isolated case, and we must in some way consolidate the cushion which will allow the European Union to meet such requests.
In the resolution that we adopted in the Committee on Economic and Monetary Affairs and that I hope will be supported by plenary tomorrow, we ask the Commission to examine how and whether the banks of some Member States of the Union have helped to aggravate this situation. I believe that this is important information for the European Parliament to have in the coming debate, and which, doubtless, Jacques de Larosière’s group will examine thereafter.
We have also said that we think, essentially, that the Council’s proposal was to raise the level of the facilities to a given threshold, which we have accepted, believing that this, perhaps, will not be the last discussion we will have with the Commission. At this stage, we understand that this is the basis for agreement in the negotiations with the Council and, therefore, we accept this situation.
In the future, we hope that the European Commission, Council and Parliament will all regularly approve these amounts, because, in 2002, when the European Parliament voted on the Regulation we are now amending, we asked for a regular update to be organised. Evidently, and unfortunately, I have to say that we were right. We are now therefore asking you for it again, Commissioner, and I believe it is reasonable to ask that it be carried out in that manner.
Finally, in the Committee on Economic and Monetary Affairs, I asked for the tools and processes of Article 100 of the Treaty to enable us to act to support some Member States more widely, and not just on balance of payments problems. Unfortunately, I was not supported by the Committee on Economic and Monetary Affairs in this matter, but I am using my position as rapporteur to urge the Commission to examine this mechanism which the Treaty offers us and which, to date, we have failed fully to exploit."@en1
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