Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-292-929"
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"en.20120613.24.3-292-929"2
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"Several advances should be highlighted. The debt pooling objective has been clarified. With the redemption fund, initially proposed by the Group of the Alliance of Liberals and Democrats for Europe, the States will transfer any debt amounts over 60% of GDP. These pooled sums, totalling EUR 2 300 billion, will be repaid over 25 years, allowing for the creation of eurobonds, which we have desired for many months.
Parliament has proposed establishing a growth instrument to mobilise 1% of Member States’ GDP over a period of 10 years, that is to say, around EUR 100 billion, to be invested in European infrastructure. Although some people talk about financial stability and fiscal consolidation and others talk about growth, we really need both. The Member States are massively in debt and the European Union therefore needs to invest in order to become competitive once again. It should go further, for example, by calling for European savings.
We ensured that these tools were effective by reintroducing the Community method. As with the ‘six-pack’, economic dialogue with the European Parliament has been established. That restores democratic legitimacy to the decisions which, for a long time, were taken between governments."@en1
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