Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-059"

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"en.20100519.3.3-059"2
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"I very warmly welcome the measures put forward by the Commission and Council. If these measures had been adopted some time ago, we could have avoided a large number of the effects of the crisis we are going through. A lack of economic governance led to decisions being taken under pressure and without any consultation with the European Parliament. In addition, there are no mechanisms in place for monitoring the measures adopted. Last year, large sums of money were injected into banks. This was a necessary measure, but saving the banks has not helped mitigate the crisis later on. The crisis has continued. The Growth and Stability Pact has not been adhered to. Unacceptable deficits have been run up. States have taken different measures in similar situations. Some have decided to tell their citizens the truth and adopt austerity measures. The lack of common rules is having different effects on Europe’s citizens, even though all Member States have helped trigger the crisis. We cannot consume more than we produce, nor can we spend more than we can collect. We need financial stability. This is why the proposals for creating a new financial stability mechanism or European monetary fund are an absolute necessity. However, these measures need to be backed up by a coherent economic recovery strategy and by control and sanction mechanisms. This will allow us to say that we are going to establish real, effective economic governance for the benefit of all Member States."@en1
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