Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-521"

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"en.20101020.21.3-521"2
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". I voted for this report. The current economic, financial and social crisis has shown that the existing economic governance model in the Union has not worked as effectively as it was envisaged. In recent years, there has been insufficient convergence between Member States, and macro-economic and fiscal imbalances have remained and even become larger in the last decade. The surveillance framework was too weak and the rules of the Stability and Growth Pact were not sufficiently respected, in particular, as regards preventive provisions. I agree with the proposals given in the document that we must aim to better coordinate actions with and between Member States, particularly in order to prevent a repetition of the situation that came about recently. It is crucial for Member States to apply in full the rules and decisions agreed at EU level, such as the rules and instruments of the Stability and Growth Pact. The greatest attention must be paid to long-term sustainable growth, providing the conditions for the creation of quality jobs, rather than short-term profit, which has done huge harm to the financial stability of European markets."@en1

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