Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-052"

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"First of all, I should like to take ten seconds out of the proceedings to restore the truth. Mr Langen, who is not in the House, said that it was unacceptable that Greek members had voted against the three-year stabilisation programme in the Greek Parliament. I should like to point out that it would be a good idea for Mr Langen to repeat his recommendations at the next meeting of the Group of the European People’s Party (Christian Democrats), because those members, who happened to be responsible for governing the country until a few months ago, belong to the PPE. To return to the more general issue, it is a fact that the current crisis has highlighted chronic sicknesses and weaknesses in terms of the economic coordination of the euro area and in terms of the global system of economic governance and, as a result, huge, uncontrolled power has been amassed in the globalised financial system. So, today, we have, first and foremost, a question of democracy to address and Europe, if it wants to respect its values and history, needs to take a leading role here. The decision to establish a euro area stability support mechanism is an important step, there can be no doubt about that. However, a crisis management mechanism is not enough; we need to tackle the causes at the root, not only at national, but also at European level. We are making a mistake and undermining our common future and the future of subsequent generations by putting the sole emphasis on immediate financial recovery and underestimating the impact of growth, employment and the basic structures of the welfare state which have been several decades in the making. Commissioner, the proposals to strengthen economic cooperation which you presented on 12 May may help to construct a more cohesive Europe, with fewer macro-economic imbalances, subject to two preconditions: firstly, that they will not be limited to the inflexible application of the Stability and Growth Pact and, secondly, that they will fully incorporate specialised targets for viable growth and employment within the framework of the 2020 strategy."@en1
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