Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-08-Speech-1-041"
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"en.20100208.13.1-041"2
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"The top priority of the future European Commission must be to reduce the economic disparities between Member States by establishing close cooperation at fiscal and monetary policy level.
This receptiveness to cooperation has been evident right since the start of the economic crisis and it is absolutely necessary for it to continue. At the same time, when coordination at fiscal level is involved, consideration must be given to the fact that the European Union includes countries with economies which have different structures. In fact, the economies in certain Member States are characterised by larger cyclical movements, as they require a high level of public investment and their potential for growth exceeds that of the mature economies within the EU.
The Stability and Growth Pact and the current procedure for joining the euro area should therefore include flexibility clauses allowing the analysis of public expenditure throughout the entire duration of an economic cycle so that Member States can invest when it becomes necessary. This could ensure that every Member State develops according to the stage its economy is at."@en1
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