Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-30-Speech-3-167-750"
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"en.20111130.16.3-167-750"2
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"A great deal has been said in European and national contexts about the economic and financial crisis and its impact, about the sovereign debt and public deficit crisis, and about job losses and the precariousness of existing jobs. However, too little action has been taken. Decisions have been made involving half measures, while the euro area Member States in difficulty have been at the receiving end of accusing looks, being held responsible for the domino effect on the EU’s general economic situation. However, we must acknowledge that the crisis which we are facing, the most serious in the last 70 years, was brought about by certain shortcomings in the Economic and Monetary Union and by structural problems experienced by the states in the euro area, especially with regard to the disparities in competitiveness between them, as was rightly mentioned recently by Jacques Delors. This is why Member States should regard economic and fiscal policies as an issue of common interest and aim to consolidate macroeconomic coordination within the European semester. To enable the European project to advance the ideals of democracy, peace and economic prosperity further, it must be credible and supported by pillars comprising really effective economic stabilisation policies."@en1
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