Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-274-250"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20120613.24.3-274-250"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"The consequences of the financial crisis in terms of financial stability and economic growth have been very serious, contributing to a severe deterioration of the public deficits and indebtedness of the Member States. Unfortunately, a growing number of Member States are needing bailouts, so there is an urgent need for enhanced supervision. It is a shame that this ‘two-pack’ was not adopted before, since prevention by means of early action specifically aimed at preventing a Member State’s indebtedness would have been preferable to correction with robust austerity measures, which can have serious consequences for economic growth and job creation.
We have to learn lessons from the financial and sovereign debt crisis we are facing and propose solutions. This proposal is another initiative to increase budgetary discipline, intended to complete the economic governance package, and stipulates that a Member State in difficulties should be targeted with enhanced supervision, thereby helping to ensure its quick progress towards normality. As the intensity of the economic supervision should be proportional and appropriate to the severity of the financial difficulties, there should be a guarantee of legal protection and Commission monitoring."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples