Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-307-500"

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"This week, the European Parliament adopted two regulations known as the ‘two-pack’. These texts are part of the arsenal that is battering Europe today. They take the same approach as the European budgetary pact, which enshrines the golden rule, and the ‘six-pack’, the Treaty’s older brother, which, in principle, aims to integrate austerity into European law with the European Semester, which allows the Commission to monitor the national budgets. The first report, by Mr Gauzès (Group of the European People’s Party (Christian Democrats), French), aims to strengthen economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area. The report by Ms Ferreira (Group of the Progressive Alliance of Socialists and Democrats in the European Parliament, Portuguese) lays down common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficits of the Member States in the euro area. I regret that the Ferreira report was adopted by a large majority (501 votes to 138, with 36 abstentions), thanks to the support of the S&D Group and the Group of the Greens/European Free Alliance. The few amendments on growth and eurobonds do not change the thinking behind it, which remains deeply austere and anti-democratic, despite the sprinkling of fine words such as growth and employment."@en1

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