Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-429-000"
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"en.20121025.29.4-429-000"2
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"Mr President, structural reforms and fiscal consolidation must be continued in order to overcome the current sovereign debt crisis, but they can only yield results over the medium and long term. To create a more integrated economic union, there needs to be better coordination between the macroeconomic and budgetary policies of the Member States.
The European Semester is the appropriate framework through which to ensure effective economic governance. It was initially created to help identify cases where the budgets of Member States are not sustainable and possible negative collateral effects. Since then, however, it has been transformed into a powerful system for economic and fiscal coordination. I believe that the proposed measures should be improved to increase competitiveness and minimise imbalances. In addition, we should take a consistent and sustainable approach so that progress will be tangible."@en1
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