Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-404-000"
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"en.20111201.35.4-404-000"2
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"During the crisis, it has become clear to all of us that the EU must engage in stricter budgetary control. Accordingly, under the European Semester, our principal aim is to coordinate Member State budgetary and economic policies in line with the Stability and Growth Pact and the Europe 2020 economic strategy.
The most important task ahead of us now is to create an instrument for the prevention of future public debt crises which is effective at Community level. However, a vital prerequisite of this is the introduction of stricter sanctions. The greatest merit of the legislative ‘six-pack’ drafted during the Hungarian Presidency is that it gave priority to keeping state expenditures in check, and to the importance of the debt criterion.
Increased coordination of Member State economic policies is a necessary but insufficient condition of recovery from the crisis. In order for us to be able to manage the consequences of the recession and establish a sustainable economic policy, we must, in any event, pursue stricter budgetary control. Hungary has already embarked on this path. Unfortunately, my country is among the most indebted in Europe. The extreme amount of state debt we currently have is a result of irresponsible management by previous socialist governments.
In order to put an end to the indebtedness of the country once and for all, Hungary has adopted provisions at constitutional level on responsible budgetary management and a state debt limit this year.
I recommend that European Union Member States follow the example of the Hungarian Basic Law. They should put a constitutional stop to indebtedness so as to prevent another Greek, Irish or Portuguese crisis."@en1
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