Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-439-000"

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"Mr President, the past year has seen important steps taken to strengthen the basis of our Economic and Monetary Union. Crucial elements of this are the ‘six-pack’, the permanent emergency fund, the new treaty and the decision by the European Central Bank to lend our banks EUR 500 billion in three-year loans. There are still major problems, but confidence is gradually returning, and we must be ambitious enough to continue on our path towards lasting economic growth. Therefore, on behalf of our group, I welcome the proposal that Commissioner Rehn has presented regarding the macro-economic surveillance. Structural reforms are needed to ensure growth and competitiveness in Europe. But we need to continue to reinforce our Economic and Monetary Union, for that is the basis of our welfare and employment. Hence the importance of discussing stability bonds, since the issue of these bonds is still split up between 17 different markets in Europe. As a result, we are losing out on significant advantages. Eurobonds will not solve the present crisis and are no excuse for not carrying through necessary, if sometimes painful, economies and reforms. Stability bonds, however, may well make a very positive contribution in future to a far more efficient issuance of State bonds and offer advantages to all of us in Europe. The EP’s resolution is consequently also a significant encouragement to the European Commission in its plea for further investigation of this highly complicated matter. There is still a lot to be disentangled, so please persevere along your pathway, full of man-traps though it be, for, looking to the future, it is in the interest of all of us to work towards the issuance of joint bonds."@en1
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