Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-03-Speech-2-120-000"

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"en.20120703.5.2-120-000"2
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"The Socialists welcome the decisions taken at the EU summit as regards the creation of a banking union, the intention to create a financial and political union and the specific measures for job creation. The Heads of State or Government finally showed willingness to act and decided on a range of long overdue steps that the European Parliament and, in particular, the Socialists have been urging ever since the eruption of the crisis. These include recognition of the fact that consolidation of the treasury must be accompanied by an economic policy conducive to growth and investment. It is also welcome that quite a number of Member States voted for the European-level taxation of financial transactions and, indirectly, the promotion of investments aimed at revitalising the economy. The tightened economic, financial and political integration decided on by the euro area Member States must not lead to the European Union splitting in two. It is the national interest of Hungary to have a part in the decision-making process that lays the new foundations of the EU. The Heads of State or Government have finally brought themselves to engage in crisis management. Just as important as the preservation of the common currency is the protection of the fundamental values of the EU. Tighter political integration must be accompanied by an extension of the competence of Community institutions, and not just in economic and financial matters, but also in respect of the functioning of democratic institutions and the enforcement of human rights and the rule of law. The European Parliament, as the only directly elected institution of the EU, cannot be left out of this process."@en1

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