Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-067"

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"Mr President, I think we should be clear about one thing, namely, that the global economic crisis is mainly focused on the US and European economies. There are high levels of growth in other parts of the world, but not in Europe and not in the US. More than anything else, this is rooted in overspending and lack of growth. I think that is one of the most important challenges. We need to kick-start growth but, in doing so, we need to have stability in public finances. That is why I find it worrying – adding to what has already been said by previous speakers – that some European leaders are now talking about more lax and flexible rules regarding the Stability Pact, and opting for a change to the treaty. I do not think that what Europe needs is a decade of discussions about treaty changes. That is more of a policy for disintegration than integration and competitiveness. We need to strengthen the Stability Pact with as many automatic sanctions as possible. We need to ensure that budget deficits are reduced, in confidence and in good order, at the same time as we are reforming in order to open ourselves up for more economic growth – opening up European borders and opening up for more competition. That is the way ahead and what we should stand up for in the G20. That is also the aim for the European agenda."@en1
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