Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-505-718"

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"en.20110623.37.4-505-718"2
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"In the context of the euro crisis, Member States should no longer escape penalties if their deficits get out of control. The six texts adopted today should allow a stability mechanism to be introduced along with financial sanctions which come into play when a nation’s public deficit soars towards the European limit of 3% of GDP. While this legislative package does represent a step forward, these legislative measures on financial stability are far from sufficient. Governments still refuse to let the Commission easily send a warning and impose financial sanctions. They also refuse to allow the Ministers of Finance of those States whose public accounts are tipping into the red to be heard by Parliament. Europe also needs to have a real European policy on investment and to introduce a public loan at Union level. This would be the sign of a strong and united European response to the crisis. This signal could act as a guarantee against the risk of collapse of the euro area."@en1

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