Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-253-000"
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"en.20110928.19.3-253-000"2
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"The Commission’s proposals to improve economic governance are of great importance to the future of the EU and economic growth, particularly in the euro area. The experience gained during the first decade of the Economic and Monetary Union shows the need for an improved framework for economic governance based on greater responsibility on the part of individual Member States. I am in favour of an extensive reform of the governance framework based on the community method and a strong and independent Commission as overseeing and giving directions in the new deeper and wider economic policy surveillance framework. The framework on the prevention and correction of macroeconomic imbalances needs to emphasise early detection and prevention of potentially harmful macroeconomic imbalances. Macroeconomic surveillance cannot be based on a static and simplistic framework. It is crucial to ensure that it is based on thorough economic analysis through in-depth reviews investigating a broad range of economic factors while taking due account of country-specific circumstances. Economic governance and national economic policy should be more a matter of common concern of all parties involved. That is why I believe that there needs to be a closer involvement of national parliaments both at national and at EU level. In addition, Member States should establish national rules and institutions which are in line with the objectives of the Stability and Growth Pact."@en1
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