Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-033-000"
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"en.20111116.5.3-033-000"2
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"Mr President, I have three points to make in this debate on economic governance. First of all, the continued blocking of the Eurobonds and the stability bonds by Germany – and I address this point to Members representing the German Christian Democrat and Liberal parties – will mean that you are forcing the European Central Bank to take on the necessary stabilisation measures. You are sounding the death knell of the European Central Bank’s credibility and, Mr Langen, what you had to tell us here re-emphasises that point.
The second point that I wish to address concerns the area of taxation. We are aware that we have a problem on the revenue side all over Europe, and at the moment the working groups for greater cooperation on tax and countering tax dumping are in deadlock. The reason for this is that, as ever, the measures against business tax, dumping and tax evasion get blocked for reasons of national interest. For that reason I would ask you, Mr Barroso, to be brave and put forward a new taxation package now, during this crisis, and to attempt, in so doing, to increase the pressure on the Member States that are doing the blocking.
My third point is that we in this House have adopted a package of measures against economic imbalances with a large majority. We now hear that, in the last Ecofin meeting, the Council again called for this package not to be implemented. In Germany’s national interest, Mr Rehn had to declare at that meeting that he would be proposing sanctions against surplus countries. At the same time, Germany is currently attempting to manipulate the indicators for when economic surveillance kicks in. Originally, you wanted to implement plus 4% of gross domestic product as the surveillance point for economic imbalances, for current account surpluses. You have since retreated to plus 6%. That is not good enough for Germany. At the most recent meeting of the Council, Germany insisted on plus 7%.
Mr Rehn, Mr Barroso, I call on you both not to make these joint decisions weaker than they already are. Implement the law in full. Make it clear that all the instruments of the law are still on the table. Do not allow the Council and its national interests to dictate the stripping down of this package of measures to counter economic imbalances – which we urgently need – before it has even been signed."@en1
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