Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-412-000"
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"en.20120613.27.3-412-000"2
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"Mr President, I would like to make two points in my two minutes. This morning, President Barroso proposed an interinstitutional agreement on a growth initiative to properly involve the European Parliament in the process.
My first point is about democracy. I welcome President Barroso’s proposal, but I would also like to recall that two years ago, this Parliament voted for something much more important: an interinstitutional agreement on the European Semester. We must make the European Semester process truly democratic.
Commissioner Rehn, you reminded our Committee on Economic and Monetary Affairs on Monday that the new economic dialogue provision in the ‘six-pack’ expects the Council, as a general rule, to follow the recommendations and proposals of the Commission. Those recommendations cover essential elements of national policy: labour market regulation, pension systems, collective bargaining practices and so on. It is simply not acceptable that such recommendations are meant to be followed by Member States without the proper democratic involvement of both national and European Parliaments. That democratic deficit needs to be addressed as a matter of urgency.
My second point concerns the economic situation. Today, we have voted on the so-called ‘two-pack’, but we have still not made any progress in recognising the importance of public investment as a key part of national budgetary policies. Public investment is now to be increasingly addressed, as you have said, through European instruments, for example, through an increased role for the EIB and the pilot project on project bonds.
But these instruments will not be enough to solve the growing public investment deficit across the Member States. Public investment is at least 1% of GDP too low now, and that will not be made up via these instruments.
The Commission needs to provide solid estimates of public investment needs between now and 2020, taking account of existing policy objectives. It then needs to indicate as precisely as possible how those needs are to be met. Only then will we be able to assess whether the proposed instrument will address the public investment deficit or whether, as we believe, we need to go further. We believe that we need to address that deficit systematically within the rules on economic governance through a new growth regulation. Only in that way will we find a sensible balance between austerity and growth."@en1
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