Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-231-250"

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"en.20110928.19.3-231-250"2
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"− I decided to abstain on this and the other reports on the implementation of Europe’s new economic governance. They include measures that, although useful, have come too late in the day, and which succeed in demonstrating the failure of EU economic policy ever since the euro was introduced. Criteria for preventing dangerous situations had already been laid down in the Maastricht Treaty and in the subsequent Stability and Growth Pact, and we saw how miserably they failed: in 1999 Greece did not meet any of the criteria, and only two years later it was already in the euro; and Portugal, another country in dire straits today, was the first to receive warnings in 2002 regarding its deficit situation. All those rules laid down in the past had no effect at all: we will now see whether these new initiatives are of any use in salvaging what can be salvaged, at least."@en1

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