Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-360"

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"President Barroso, Commissioner Rehn, your proposals are an important step towards strengthening economic governance in Europe. I should like to pay tribute to you for actively exercising your right of initiative rather than waiting to see what the Council’s task force comes up with. Our group, the Group of the European People’s Party (Christian Democrats), welcomes the proposals and wishes to cooperate closely and energetically with you and the Council to accomplish them. It also wishes to cooperate on taking the next step towards the Community method. What is needed is not new institutions but instead a strong, independent role for the European Commission, and a European Council that commits itself to a common approach and democratic control by the European Parliament. As far as the PPE Group is concerned, these are the ingredients for the legislative proposals you are to present to us in early September. We have great expectations of the European Semester and the coordination of national action programmes. Important reforms and painful measures in the Member States are necessary in order to strengthen their competitiveness. This will create jobs and prosperity for our citizens. We also have great expectations of the measures to strengthen the Stability and Growth Pact using a big stick: sanctions, that is. You called the series of measures a ‘toolbox’. A great deal will depend on the specific contents of this toolbox. One of our Dutch football teams has the motto ‘deeds not words’. Deeds not words is exactly what Parliament wants when it comes to strengthening economic governance, and also when it comes to the legislation on European supervision of the financial institutions. The Council embraced the report by Jacques de Larosière, but this must now be put into practice, transposed into legislation – supervisory authorities with real powers that can start work on 1 January – and so the Council now needs to actually do this. Parliament will be voting tomorrow, but we shall leave the door open for the Council to conclude an agreement during the meeting of the Economic and Financial Affairs Council this month. This means endorsing Parliament’s position on the powers for this new supervisory authority, as Parliament will stand firm – not in its own interests but in those of the public – in order to restore calm to the financial markets, so that we can once more look to the future with confidence."@en1
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