Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-09-Speech-2-230"

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"en.20100209.13.2-230"2
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"Madam President, as we know, the European Commission has placed Greece under supervision on account of its soaring budgetary deficit. This massive intrusion on national sovereignty can really only be justified by the fact that we also need to rescue the single currency and avoid the risk of damage to other participant countries. However, the foundation stone that is the essential prerequisite for the introduction of the euro, namely the Stability Pact, clearly only exists on paper. Many Member States and the Council have expended less energy in recent years on budgetary discipline than on watering down this important agreement. The Commission has sat back and watched this development of half-hearted procedures against deficit offenders. We therefore need to press for the increasing net indebtedness of the Member States to be drastically reduced if we do not want to put our currency and our economic area at serious risk. For this, absolutely crucial and forceful measures are needed."@en1
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