Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-13-Speech-2-085-000"
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"en.20111213.5.2-085-000"2
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"Mr President, Mr Van Rompuy, Mr Barroso, ladies and gentlemen, the Council summit which has just ended has been supported by some people and criticised by others. I welcome the progress that has been made. Steps have been taken in the right direction.
As far as the debt brake is concerned, structural deficits of only 0.5% of GDP are now permitted. In the area of automatic sanctions, the European Commission is now allowed to intervene immediately where countries have deficits that are too high and to provide monitoring and guidance. In addition, it is now supervising budget planning in the Member States much more closely than was the case before. It is regrettable that only 26 Member States have signed up for this pact and this also represents a potential risk for the future of Europe. However, we have quite obviously learnt from the failure to comply with the criteria of the Maastricht Treaty. We have also learnt from our most recent mistakes.
Now it is time to ensure that these results are implemented as quickly as possible."@en1
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