Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-230-500"
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"en.20110928.19.3-230-500"2
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The recent financial crisis has exposed the need to review and strengthen the existing instruments for coordination and multilateral surveillance of the various Member States’ economic policies. This is the ambitious objective of the economic governance package adopted here today.
The Stability and Growth Pact is based on the objective of sound government finances as a means of strengthening the conditions for price stability, strong and sustainable growth, and employment. We would therefore benefit from more stringent forms of surveillance in order to ensure Member States’ consistency and compliance with the Union’s budgetary coordination framework.
This new strategy should focus on development and the strengthening of the internal market, and should foster international trade and competitiveness, in order to prevent and correct excessive budgetary positions.
The Council and the Commission should make public their positions and decisions at the appropriate stages of the coordination procedures. We also consider it of utmost importance that the strengthening of economic governance goes hand in hand with reinforcing the democratic legitimacy of European governance. In this respect, the role of the European Parliament should be strengthened in the whole surveillance process."@en1
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