Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-275-125"
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"en.20110928.19.3-275-125"2
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"−
The economic and financial crisis has exposed the need for coordination and improved surveillance of economic policies within the Economic and Monetary Union. These recent experiences have also revealed failings and shortcomings in the current system of coordination and in existing surveillance procedures. This report, for which I voted, sets out provisions to speed up and clarify the implementation of the excessive deficit procedure. The aim of the excessive deficit procedure is to prevent excessive budget deficits, and, if these occur, to correct them swiftly, in which case compliance with budgetary discipline is assessed on the basis of the budget deficit and public debt criteria. In order to strengthen dialogue between the EU institutions, particularly Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the relevant parliamentary committee may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or of the Euro Group to appear before the committee to discuss the Council’s decision. The relevant parliamentary committee may give the Member State that is the subject of the aforementioned recommendations, information and decisions the opportunity to participate in an exchange of views."@en1
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