Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-04-07-Speech-3-035"
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"en.20100407.4.3-035"2
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"Mr President, President of the European Council, I have four comments.
The first concerns the mandate of the working group that has been entrusted to you with regard to the excessive deficit procedure and the crisis: do not settle for that agenda because, if you do, you will overlook our needs.
What we need today is economic governance. What that means, no one yet knows. We have been trying to find out for 10 years, but the time has come to clarify this point, and if we concentrate too much on crisis management, we will overlook the crucial debate, which is to know how, with a single currency, we can carry out intelligent joint action.
This intelligent joint action is not just a question of responsibility or solidarity, as you said; rather, it is a question of the added value that comes from sharing a currency that does not just boil down to a monetary union, but which must also be an economic union, and where the only tool that we have had available until now – the Stability and Growth Pact – is insufficient, since it has never been a growth pact, and it is a pact that has not permitted the euro area to fulfil its potential.
It is also a pact that has not prevented the existence of, or increase in, competitive differences among the economies of the euro area. No matter what reform of the Treaty you think up, no matter what reform of the Stability and Growth Pact you envisage, you will not address the problem of the competitive differences of the economies with those tools.
New tools therefore have to be invented; this is how you must approach the mandate.
I would add that, for years now, we have been saying that we need coordinated timetables, harmonised economic forecasts and shared diagnoses in order to decide on the economic strategies of the Member States of the euro area. That is the issue at stake in the debate and in the mandate that you have today.
As regards the European Parliament’s role in this whole affair, my proposal to you, and my proposal to my fellow Members here in the European Parliament, is that, in a spirit of healthy competition among institutions, we set up our own group of wise men with high-quality, expert, independent individuals who can make an important intellectual contribution to this debate, which is a critical one for the future of the euro area and, hence, of the European Union."@en1
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