Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-414-500"
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"en.20110623.37.4-414-500"2
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"I voted in favour of this amendment, because I believe that, following the financial and economic crisis that hit Europe and the rest of the world, it is very important to review the issues of Europe’s macroeconomic development and fiscal discipline. It is a difficult time, but also the right time to complete and correct the existing model in light of past and present evidence, and for the first time, the European Parliament is involved in the process of making these important decisions. The prevention and correction of macroeconomic imbalances is a new disciplinary measure for euro area Member States, under which penalties would be introduced to punish fraud or unwillingness to act on agreed recommendations without acceptable justification, but not the inability to achieve the proposed targets. This disciplinary measure will take into account the total burden of the penalties imposed on the state, and their total amount will be subject to a maximum cap. Fines paid will provide revenue for the central fund of the Permanent Crisis Mechanism."@en1
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