Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-288-500"
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"en.20120613.24.3-288-500"2
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"At a time when Greece and Spain can no longer finance themselves adequately on the markets, their European partners must understand that they can no longer spend recklessly and that the control of their sovereignty and their future is now at stake. Our political family succeeded in ensuring that this common sense principle prevailed in this text, which endorses the new crucial deficit control objectives, contained in the Stability and Growth Pact. From now on, Member States in the euro area that do not abide by their commitment to limit debt to 60% of GDP and adopt reasonably balanced budgets will be subject to greater surveillance and a public accounts consolidation programme. In my view, this new method of supervising budgetary discipline and correcting deficits will be our saving grace in many respects. It will ensure a climate of financial stability that is essential for restoring confidence, which is the real driving force behind growth. Finally, it will prevent future generations from having to bear alone the brunt of a debt that they did not incur and give them the chance to control their own destinies."@en1
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