Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-094-000"
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"en.20110405.3.2-094-000"2
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It is important that in a difficult, critical period in the life of the whole of Europe we appraise the objectives ahead of us and the positive changes made towards them together. The current Hungarian Presidency has scored a striking success for the second time in the areas of economic governance, the stability mechanism and the European Semester. In the series of talks that took place in the context of its last meeting at the end of March, the European Council managed to agree on the limited amendment of the Treaty on the Functioning of the European Union as well, the purpose of which was to enhance the stability of the euro area and the euro. At the Council meeting the Hungarian Presidency voted in favour of a rational, responsible economic policy that can be abided by, and apart from the institutionalisation of the European Semester, also strengthened the stability mechanism. However, we need to point out that the elements of economic governance are not to be confused in any way with the Euro Plus Pact, which is an intergovernmental agreement at its current stage. Although it is possible that the Pact is good, the single internal market cannot be regulated by non-contractual intergovernmental agreements. Due to an unclarified point in the Pact concerning tax harmonisation, Hungary does not wish to apply the agreement in its entirety for the time being because we have an interest in enhancing our competitive advantage, and through this in real job creation in the long term and economic growth."@en1
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