Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-396-000"
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"en.20120704.25.3-396-000"2
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"This was the Council
dedicated to seeking solutions to tackle the economic and financial crisis that has been devastating the EU. It sought to adopt and combine a whole range of short-, medium- and long-term measures so as to stabilise the financial markets, foster growth and sustainable development, and strengthen the Economic and Monetary Union (EMU). I would highlight a number of measures that I consider really positive, such as the Compact for Growth and Jobs, which should take national- and EU-level measures as part of the strategy for fostering employment and smart, sustainable and inclusive growth; a package of EUR 120 billion has been made available to promote investment and growth in Europe. This is complemented by the creation of a banking union and a common banking supervisor, which aims to break the vicious cycle between banks and public debt, and by the deepening of the EMU. I regret that some equally important points have fallen somewhat short of expectations and that important details have apparently not been made clear or have been left to be decided later. We need greater democratic accountability and the starting point for any new initiative should be the Community method, with the involvement of all the EU institutions."@en1
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