Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-12-Speech-2-040-000"

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"Mr President, the aim of the ‘two-pack’ is to transpose the Fiscal Treaty into secondary law, but instead of reinforcing the logic of the treaty, the ‘two-pack’ reports water it down. First, there is the Gauzès report. After the negotiating process, I am sorry to find only a watered-down version of the ‘golden rule’ that puts the essence of the Fiscal Treaty on a slippery slope. I am happy that another suggestion by Mr Gauzès was retained. He proposes that a Member State at risk of default or suspension of payments should be placed under legal protection. Unfortunately, he did not go one step further by adding that if a Member State is unwilling to surrender its sovereignty in this way, it should be given the option of leaving the eurozone. I was criticised as being irresponsible for tabling an amendment in this sense, but I believe it is the other way round: it is irresponsible not to consider the possibility of a country leaving the eurozone. Mr President, you can choose to ignore reality but reality will not ignore you. Following the Greek elections this weekend, the facts will come to haunt us all. The report by Ms Ferreira goes far beyond the aim of the ‘two-pack’. She confuses EU legislation with the manifesto of her Socialist Party. The rapporteur ties budgetary surveillance to a range of other issues such as eurobonds, a European Redemption Fund, a European Debt Authority, a financial transaction tax and a common consolidated corporate tax base. This is a Christmas tree out of season. During negotiations, Mr Gauzès ceded too much to the left, more than many Members of the PPE regarded desirable. In voting, the left mainly abstained regardless. Ms Ferreira’s report only achieved a small majority. In fact, more Members voted against or abstained than voted in favour. Parliament has produced a wish-list about which it is itself divided. It will not stand in Council and rightly so. The ECR will abstain on Gauzès and vote against Ferreira."@en1
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