Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-022"
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"en.20100707.6.3-022"2
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".
Mr President, let me say straight away that the Belgian Presidency can count on the full support of the European Parliament and, in any case, of my group, the Group of the Alliance of Liberals and Democrats for Europe. The reason for this is quite simple. Belgian Presidencies have always endeavoured to advance and accelerate European integration, and that is exactly what we need for Europe at the present time. In tomorrow’s multipolar world, where the focus is on countries such as China, India and the United States of America, only a unified, integrated Europe will be able to play a role, and I am pleased that the Belgian Presidency will be keeping up the tradition of further advancing European integration.
The main thing we need from the Belgian Presidency, Prime Minister, is a commitment to the following. I believe I addressed more or less the same words to the Spanish Presidency six months ago. There is an urgent need for us to finish our homework on the economic and financial crisis. Europe has not yet done its homework. It is essentially a matter of five dossiers that need to be brought to a successful conclusion. The Belgian Presidency would actually be a tremendous success if these five dossiers were to be concluded, and as quickly as possible. First and foremost, the stress test for the banks must be completed and these banks recapitalised if necessary. There will be no economic growth and no resumption of lending until the banking sector is cleaned up.
Secondly, the Stability and Growth Pact must be strengthened correctly; which, in very specific terms, means with the European Commission and the European Central Bank in the cockpit. It does not mean with the Member States in the cockpit. That is impossible; it would not work. Member States cannot monitor or penalise one another; only the Community institutions can do so.
Thirdly, we need genuine economic governance. That is the third task. Getting genuine economic governance off the ground for the euro area, again with the European Commission in the cockpit at all events, or in the driver’s seat, as we put it here.
Fourthly, there is an urgent need to put the finishing touches to the regulation of a number of financial products, including hedge funds. We are working on that dossier, but we have to take a decision on it.
Last but not least, as has already been said here, there is an urgent need to get European banking supervision under way. Let me be clear in that regard, Prime Minister: a number of Member States, indeed most of them, have yet to grasp the lesson of the crisis, which is that national supervisory authorities are not capable of performing that task. Not one of our national supervisory authorities in any of the 27 Member States ever sounded the alarm or switched on the flashing lights at the time of the crisis. Yet now, the Member States come and tell us in not so many words that it should be the national authorities that continue to perform that task. Let me tell you, Prime Minister; there will be no agreement with Parliament unless the European supervisory authorities have the last word. After all, that is what matters at the present time.
May I give you a piece of advice in this regard? I have only one piece of advice to give. We are not in the habit of doing that in Belgium. I was given a great deal of advice in the past, when you were in opposition, and I shall endeavour to give you some advice in return now that you are in the majority. In order to achieve an agreement on this European supervision, Prime Minister, it may be necessary to abandon unanimity in the Council. In my opinion, you should not attempt to persuade Parliament to change its position. On the contrary, it is the Council that should change its position; that is, should consider abandoning the quest for unanimity and endeavour to conclude an agreement with the European Parliament on the basis of a qualified majority.
Finally, if I may, Mr President, I think there is one final point we should discuss with the Belgian Presidency, which is that, in addition to all the rhetoric about reorganisation – which is necessary, as reorganisation is the growth of the future – we need an economic growth strategy. I am thinking, in particular, of a pan-European infrastructure plan. The Commission needs to produce such a plan in order to complete the internal market to include the southern European and Central European countries. That, too, should form part of your programme."@en1
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