Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-269-000"
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"en.20110928.19.3-269-000"2
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"Abstention. The Commission acknowledges that ‘in the years preceding the crisis large internal and external debt positions were built up in some member States on the back of unsustainable levels of consumption and housing bubbles. At the same time persistent weaknesses in domestic demand nourished rendered some member States particularly vulnerable to external developments (...) These accumulated imbalances and divergences in competitiveness trends weakened the EU and the euro area response to the crisis and make economic adjustment more painful’. In order to prevent and correct such imbalances so far ignored in the current Stability and Growth Pact, on the negative side the EP lost the demand to have the list of the scoreboard indicators to be defined by delegated acts.
Also and very unfortunately under the pressure of Germany, the Council disavowed the compromise on symmetry reached with the Hungarian Presidency and in its last version came back to a version without the word. In the end the word 'symmetry' got lost in the last negotiations. Even though the symmetric rationale is still present in the text is has been weakened by the trialogues given that in the final text action is deemed more urgent and pressing in deficit Member States than in surplus Member States."@en1
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