Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-15-Speech-3-072"
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"en.20101215.5.3-072"2
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"Madam President, the end of the year is approaching. It would be a good idea to take a closer look at what we have done. Let us look at what we have decided and what we have said, and let us answer this question: what have we done about it? Each of us should look carefully at our own decisions in areas where we have had responsibility. It is good that we want to add to the Treaty certain provisions which will impose discipline on what we do. However, we do still have, after all, the Stability and Growth Pact, which continues to be in force. Why did we not adhere to its provisions? Why did the Commission and its services not react earlier in the case of Greece or Ireland?
The European Union is a democratic institution which comprises many Member States. It is not, therefore, able to act unilaterally in the way that individual states do – I am thinking, here, for example, of China, the United States and other countries. This is why there was a lack of decisive action to protect the euro. Therefore, it is necessary to develop a new approach to economic governance, to create a true economic union, to improve coordination and to harmonise financial and even fiscal policy."@en1
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