Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-109-750"
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"en.20120613.6.3-109-750"2
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"The financial framework for drafting the EU’s annual budgets for 2014 to 2020 represents one of the biggest political battles between the Council and Parliament this year. It is good that Parliament should insist on greater flexibility, clarity and transparency, especially in the forthcoming budget, and adopt a position on own resources, as they are known – on reforming the system in such a way that funds would be amassed directly in the EU’s own budget and, at the same time, the contributions from the Member States could be reduced accordingly. A reformed budget is needed as part of a more integrated monetary policy. A more integrated monetary policy is not at all as novel an idea as one might sometimes think, reading the headlines. When the notion of a European monetary and economic union was only in its infancy, a work group led by the British economist, Donald McDougall, was set up to consider the structures involved in a single currency. The McDougall report, as it is referred to, states that, in general, areas using a common currency guarantee the value of their currency by means of a central or federal budget, which is largely funded by taxes collected by a central administrative body. The report says that, depending on the level of integration, the joint budget should account for between 2.5% and 7% of the Union’s combined GDP. The Union’s present budget accounts for not much more than 1%. The US federal budget, for example, amounts to a good 20% of GDP. Although, for Member States struggling with financial difficulties, calls for an increase in the joint budget understandably sound virtually impossible, we should insist on an open and creative attitude on the part of the governments of countries towards the joint EU budget. It takes adequate resources to implement uniform policies. A commitment to common objectives means that one is also prepared to commit the resources needed to realise them."@en1
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