Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-053"
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"en.20100325.3.4-053"2
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"Mr President, I would like to highlight three main points in the reports that we are discussing.
Firstly, we should not devote the debate on public finances to issues relating to austerity alone. We also need to focus on what we can do to initiate growth and combat unemployment. In many countries, cuts in public expenditure are needed. At the same time, however, it is also important to increase revenue via positive growth, by getting more people into work and paying taxes.
Secondly, I appreciate the fact that Mr Scicluna takes up the issue of increased transparency in the financial sector in his report. There is still much to do in this regard. Transparency is not only an excellent way to counter harmful risk-taking behaviour on the financial market. Enhanced transparency is also necessary for supervision to be effective and for the public financial institutions to have the public’s trust, which is extremely important.
The ECB should lead the way in this area and take immediate measures to make its work more transparent. A good first step would be to begin to publish the minutes of the ECB Council meetings. Openness should also be a key principle in the establishment of the European Systemic Risk Board (ESRB). In order for the Systemic Risk Board’s recommendations to have an impact, the guiding principle should be that they be made public.
Thirdly, I am pleased that, in his report, Mr Giegold emphasises the importance of having a clear environmental and climate perspective, even in times of crisis. We must not allow the financial crisis to slow down the switch to a green economy. We should instead promote economic recovery by investing in renewable energy sources, environmentally friendly transport systems and the development of green technology. Only by making these kinds of investments can we create growth that is sustainable in the long term."@en1
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