Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-23-Speech-3-131-003"

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"en.20110323.17.3-131-003"2
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"We have just endorsed amendments to the Treaty which will enable the introduction of a permanent stability mechanism for the euro area. We have achieved great success in managing to give a clear expression of support for use of the community approach as the main form of cooperation within the mechanism. The central role of the European Commission in the process of evaluating the financial situation of Member States augurs well for the future of cooperation, because this protects it from the instability which would threaten it if the intergovernmental approach were chosen. Let us hope that after adoption of the amendment to the Treaty by the European Council, it will be successfully ratified in the Member States, enabling the permanent mechanism to be set up according to plan. Incorporation of the stability mechanism into the Treaty is just one step which has been taken to improve the competitiveness of the euro area recently. At tomorrow’s meeting, the Council is also going to accept the Pact for the euro, which was adopted at the meeting of euro area Member States on 17 March. I am certain that the Heads of State or Government will manage to reach an agreement and this scheme will come into force, making it possible to step up economic cooperation in areas including employment and public finance. It is to be welcomed that despite the initial fears of non-euro area Member States, the pact has been made open to all Member States wishing to join. This guarantees, at least to a certain degree, that the mechanism will not give rise to a two-speed Europe."@en1

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