Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-025"

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"Mr President, the President-in-Office just asked whether there was an exit strategy from this crisis, and I would say yes, there is: it is called fiscal conservatism. The structural problem of ours has been that public overspending went on for too long. The public sector was out of control for many years. Even in good times, the German Government of Mr Schröder went through the 3% ceiling, and Greece, of course, broke all the records, because the Greek political class is utterly unable to manage money. We had the Stability Pact. What did Mr Prodi say about the Stability Pact in 2002? You know: you were the head of Mr Liikanen’s cabinet. He said the Stability Pact was stupid. So we had to change it. This was the guardian of the treaties. We did change it, and we put it on the slippery slope – and we see the results today. The EU will be faced with a track of fiscal conservatism for many years to come, and that is going to be very important. What we need is innovation, more free markets and more entrepreneurial skills, Mr Schulz. Mr President-in-Office (from Spain): do we need taxation? No, it makes things even worse. It pushes the EU into stagnation, and you will be Robin Hood in reverse. I understand the anger of the people – the people with pensions, the people with savings. I understand the German taxpayers. They know that they will have to pay, but German taxpayers cannot always pay. I find it a bit pretentious of Mr Verhofstadt (if he is still there) to tell Mrs Merkel to shut up talking about the euro. This was said by a former government leader who messed up his own country. So what is he trying to prove?"@en1
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