Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-080-000"

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"Mr President, I am pleased that the summit has been cancelled because we do not need a summit just for the sake of it. We need summits when the proper preparations have been made, when it is time for decision making, and when the appropriate steps can be taken. The results of every summit should also include a schedule showing when the results must be implemented, otherwise they will generate uncertainty rather than stability. Secondly, I am very grateful to Mr Barroso for his speech because it continues and puts into operation the speech on the situation in which Europe finds itself. They make up a single entity. We need all the political instruments that form part of the monetary union and the internal market at a community level. We need a road map showing the date by which we can achieve economic and social union and the measures we have to take to get there. The European Stability Pact and the European Financial Stability Facility (EFSF) must be the right size for the monetary union. The requirement for unanimity leads to renationalisation, blocks progress and is inefficient and undemocratic. No measures must be taken in Europe without the involvement of all the parties, including the European Parliament. The haircut which is needed does not represent a solution on its own. We must have a complete package consisting of the haircut, recapitalisation, more funding for the EFSF, administrative reform, investment, growth, jobs and monitoring mechanisms. The European Union must monitor all the Member States itself to ensure that its rules are being followed. We must approve the financial subsidies given to Greece and to all other countries and we must support the process of managing this funding, for example, via a privatisation agency. The Commission is responsible for economic governance and Parliament must ensure that the democratic checks and balances are in place."@en1
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