Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-520"
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"en.20101020.21.3-520"2
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"I voted in favour of the report that was presented and discussed here today, as it represents a step forward for the EU by advocating the establishment of an institution like the European Monetary Fund (EMF), and thus leading to the establishment of an overseer of sovereign debt developments to complement the Stability and Growth Pact (SGP) as a mechanism of last resort for the Member States. It is also worth highlighting the proposal to establish a high-level policy group chaired by the Commission with a mandate to study potential institutional changes within the ongoing economic governance reforms, including the possibility of creating a European Common Treasury (ECT), with the objective of endowing the EU with its own financing resources and reducing its dependence on national transfers, as well as producing a feasibility assessment in order to establish, in the long run, a system under which Member States may participate in the issuance of common European obligations. Thus, with a proper impact assessment and by spelling out the different legal alternatives, along with a clear definition of the objectives and financing for European infrastructure, the long-term strategic projects for building a stronger EU will be easier to achieve."@en1
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