Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-243-000"
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"en.20110928.19.3-243-000"2
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"The global financial and economic crisis has highlighted and strengthened the need for closer coordination and better surveillance of economic policy in the Economic and Monetary Union. The present tools and methods for coordination and surveillance have allowed the EU to deal with a crisis that no Member State would have been able to manage on its own. Europe’s institutions and Member States responded swiftly and are continuing with their joint efforts to recover from a crisis, the likes of which our generation has not seen before. Member States which use the euro have a special interest in and responsibility for implementing an economic policy that supports the proper functioning of the Economic and Monetary Union and preventing politicians who oppose it. The Treaty on the Functioning of the European Union, and in particular Article 136 in conjunction with Article 121( 6) allows the adoption of specific measures in the euro area which go beyond the provisions applicable to all Member States for the purpose of ensuring the proper functioning of economic and monetary union. Additional sanctions are necessary to make the enforcement of budgetary surveillance more effective in the euro area. These sanctions should encourage prudence in fiscal policy-making. This would make it possible to achieve and maintain a medium-term budgetary objective and ensure rapid progress towards fiscal sustainability, while allowing room for budgetary manoeuvre, in particular for public investment."@en1
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