Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-01-18-Speech-3-161-875"

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"en.20120118.19.3-161-875"2
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"We are conscious that the current economic situation in the euro area requires immediate action. Despite the fact that the fiscal compact contains many positive measures which impose financial discipline on participating countries, many doubts have also emerged over its operation. Firstly, we have to answer the question about how the compact will affect the transparency of decision-making processes in the Union, because under the terms of the compact a parallel system of cooperation is created, and the precise date of its incorporation into the Treaties is difficult to specify. Will this not weaken European Union integration? Secondly, critics point out that the fiscal compact duplicates many of the measures contained, for example, in the ‘six-pack’ and the Stability and Growth Pact. Will this fact not create confusion in the interpretation of certain acts of EU law? Thirdly, there is a risk that the compact will create divisions within the Union, the consequences of which are difficult to foresee. Very worrying aspects include plans not to allow participation in Eurosummit meetings by countries which have announced a desire to be part of the compact and which want to adopt the common currency. Fourthly, recent changes in the draft of the document lead to marginalisation of the role of the EU institutions. The European Commission is deprived of the possibility of lodging complaints about Member States to the Court of Justice of the European Union, which was always its area of responsibility, and the European Parliament’s participation in Eurosummit meetings is being greatly marginalised."@en1

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