Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-23-Speech-2-136-750"
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"en.20121023.5.2-136-750"2
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"In the last few years, the European institutions have come up with a series of proposals, documents and pacts. We talk about different unions: economic, monetary, banking and political. We establish new mechanisms, authorities and agencies. Summit follows summit. Some time ago, a strategy paper was adopted on Europe 2020. Meanwhile work has also been ongoing on the multiannual financial framework 2014-2020 and on reforms to the main policies. For the average EU citizen, the sheer number of initiatives and actions is often confusing. In my opinion, three objectives are the most important right now. First of all, reaching an agreement on the future financial framework in order to ensure the stability of the EU and financing for growth measures under the EU budget from 2014. Secondly, a single banking authority should be set up that will strengthen the banking system in Europe and help establish a banking union. Sound and effective banking will create the conditions for the much-desired growth. We must ultimately make sure that there is no repeat of a situation in which a crisis within financial institutions and the collapse of banks become the cause of a financial, and subsequently economic, crisis, with huge sums allocated from national budgets in order to rescue these institutions. Thirdly, more robust economic management and budgetary supervision and coordination in the Member States must go hand in hand with deeper structural reforms and greater productivity and competitiveness. These measures will help strengthen the EU politically, as an efficient structure bolstered by economic integration and essential reforms designed to tackle the crisis."@en1
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