Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-23-Speech-2-877"
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"en.20101123.33.2-877"2
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"The current economic and financial crisis has made apparent the need to implement EU reforms that can strengthen supervision and the coordination of economic policies in the euro area and restore confidence in European public finances.
Important steps are being taken in this direction, particularly through the creation of a European Systemic Risk Board (ESRB), which will close the current gap in macro-prudential supervision of the EU financial system, but it is vital to move forward with proposals for strengthening the Stability and Growth Pact in order to ensure budgetary consolidation and also to address other macro-economic imbalances and strengthen enforcement procedures. This report, which I voted for, also draws attention to the fact that the austerity packages adopted by the governments of the Member States should not compromise their ability to promote economic recovery, with an emphasis on ensuring a balance between the process of consolidating public finances and meeting the need for investment in jobs and sustainable development, and using measures and instruments which can give a direction to the sacrifices imposed on the public, along with an end in sight."@en1
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