Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-22-Speech-3-166-000"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20110622.16.3-166-000"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"Mr President, this is a further stage in an exceptional piece of work that we have been doing in the European Parliament. At this point I must warmly acknowledge Mrs Wortmann-Kool, Mrs Goulard, Mr Haglund, Mrs Ferreira and Mrs Ford, who have been rapporteurs with me throughout this economic governance package. I must also offer a very special word of thanks to the various shadow rapporteurs who have helped us in our work. Lastly, I must emphasise the exceptional work carried out by the Council on this issue, especially by András Kármán, who worked closely with us, and Commissioner Rehn, who also played an invaluable part in the whole process.
My first word is one of confidence, in a positive vein. This economic governance package must show that Europe is capable: it is capable of overcoming difficulties and it is capable of guarding against future problems. That is why I am highly confident about what is going to happen with this economic governance legislation in the coming days. In the Stability and Growth Pact, for which I was rapporteur for the corrective part, it is possible to add the idea of growth to that of stability and budgetary discipline. It is possible to innovate with the macroeconomic imbalance procedure. It is possible to go beyond an approach of merely having a penalty mechanism, and that is why adoption of this economic governance package will lead to more Europe and better Europe.
In relation to the corrective part of the Stability and Growth Pact, for example, this economic governance package has brought us a more intelligent application of the pact, through the attention it devotes to the debt criterion; the introduction of an average rate for debt reduction, to be carried out over three years, allowing for flexibility in fulfilling the rules; a more detailed and appropriate list of relevant factors that the Commission should take into account in its assessment of the financial situation of the countries involved; and the introduction of a three-year transition period for implementation of the debt criterion.
There are also other aspects that I want to highlight here, which concern other reports. Because we worked in conjunction all the time, I must mention the important introduction of a European semester regime in the preventive part, and point out that the preventive part is essential and that penalties should only be applied as the final step in this whole procedure. The procedure includes the introduction of symmetry in the analysis of macroeconomic indicators, the possibility that the Commission will produce a study on Eurobonds by the end of this year, an integrated vision of penalties as a final step in relation both to macroeconomic imbalances and to the Stability and Growth Pact, and the question of introducing reverse qualified majority voting for Council decisions. All these steps have been taken as essential parts of Parliament’s role.
That is why we can send our citizens a very clear message right now. The message is that we are preparing an institutional mechanism to prevent future crises. Europe will be much better prepared with this economic governance package. Europe is taking a crucial step with this economic governance package so that our economy can grow soundly."@en1
|
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples