Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-302-000"
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"en.20110928.19.3-302-000"2
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"With regard to economic and monetary stability, the primary tasks of the EU are to curb the profligacy of individual states and to protect economic growth from obstacles of a macroeconomic nature. These are the issues that are addressed by the report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies.
The compromise that was reached after long and complicated negotiations between the EU institutions and Member States and is reflected in this report should be supported for the following reasons:
first, for the emphasis that it places not only on general government deficits but also on control of government debt, setting a strictly observable limit of 3% of GDP for the deficit and 60% of GDP for government debt;
second, for the introduction of the European Semester for economic policy coordination with the determination of an individual medium-term budgetary objective for each Member State, and an enhanced surveillance role for the Commission;
third, because it provides that national budgetary and reform programmes must be in compliance with the development objectives and priorities of the EU;
fourth, because it provides for greater surveillance and transparency of the decision-making process;
and, fifth, because the report contains a new principle that statistical authorities should be independent."@en1
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