Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-03-Speech-2-069-000"
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"en.20120703.5.2-069-000"2
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"Mr President, Presidents, ladies and gentlemen, the decision taken in Brussels is a welcome breath of fresh air, and even if there remains a lot to do, the conclusions of this summit mark the end of an era and represent the first stage of a revival for our citizens, that of a Europe that gives itself the means to be fairer and show more solidarity.
The issue of growth is no longer taboo and the discussion about the broad economic guidelines is now under way. The European Union will not be able to emerge from the rut of the crisis without breaking the vicious circle of austerity, which could condemn Member States to an endless recession. I am delighted that this sound political sense can at last be found in the conclusions and I am glad that France and its President, Mr Hollande, have contributed to this political rebalancing and are committed, out of solidarity, to the path of integration.
However, although hope is essential, full implementation is what will restore confidence permanently. With EUR 120 billion having been mobilised within the framework of the Growth and Employment Pact, and EUR 10 billion of recapitalisation from the European Investment Bank (EIB), these will allow bonds to be issued for the purpose of financing projects. The European Parliament must be heard concerning a coherent financial framework and own resources. The mobilisation of the European Financial Stability Facility (EFSF) and the launch of the European Stability Mechanism (ESM), which we would have liked to see granted a banking licence, is the most urgent matter for Spain and Italy, without forgetting the Greek citizens who have been hit hard by the crisis.
The quick implementation of a banking supervisor for the euro area is only the first step towards banking union, which Parliament strongly advocates. Moreover, we cannot content ourselves with a limited tax on financial transactions, even if its implementation within the framework of enhanced cooperation could constitute a first step. In this way, we expect a lot from the next European Council, where the group of four – four Presidents, of course – will have to propose an ambitious road map in order to advance economic and monetary union and to enable the definitive resolution of the sovereign debt crisis and the instability of the euro area."@en1
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