Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-09-Speech-2-953"
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"en.20100309.18.2-953"2
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"The economic crisis, the effects of which we are still experiencing, requires exceptional measures, such as State aid. However, it needs to be ensured that this does not unduly distort competition or increase the budgetary deficit and public debt. In view of this, its application should be a matter of sober consideration.
The level of public debt, which is rapidly on the rise, will be a burden for future generations and an obstacle to economic recovery and growth. Excessive debt and budgetary deficits not only compromise the stability of the euro, but also place severe restrictions on public spending in priority sectors such as education, health, innovation and the environment.
Within this context, it is necessary to proceed to a rigorous assessment of the rescue and recovery package and the effectiveness of State aid. Protectionism and fragmentation of the single market must be avoided, as they weaken Europe’s position within the global economy.
A single market that functions properly is the key to a healthy economy and, in all certainty, economic recovery. Ultimately, economic policies must gain more legitimacy through greater intervention by Parliament under the codecision process."@en1
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