Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-503-000"

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"Madam President, I would like to begin by reminding my colleague, Vice-President Verheugen, that the EU was created through an agreement between independent sovereign states which voluntarily decided to transfer some of their powers to a new institution – the European Union – which they established together for the common coordinated administration of selected powers belonging to the sovereign states. If the European countries therefore decide that they want to create a common economic administration within the framework of EU regulations, it must be their free and voluntary decision, and not a directive from Brussels. If we are talking about a pact, and therefore an agreement between sovereign states concerning further cooperation under the aegis of the EU, then everything is in order. If there is to be some form of closer cooperation in the area of economic management, it should quite naturally be attempted first and foremost by the euro area countries, which have made a commitment to use the common currency. However, ladies and gentlemen, let us have no illusions. Economic regulations and tax laws differ between these countries, and this process will therefore be very complicated … ( )"@en1
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