Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-22-Speech-3-233-000"

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"Mr President, the tightening of the Stability and Growth Pact is urgently needed. The experiences of recent years make that clear. I am also pleased that the outcome of the negotiations is a step in the right direction. Ministers will never again be permitted to cover each other’s backs when a Member State allows its public finances to derail. It would therefore be a good thing if we were to improve the prevention of major deficits by moving decision-making further away from politics. Rapporteur Wortmann-Kool is therefore right to insist on the idea that ministers should be able to block decisions by qualified majority only. However, a sticking point for me is Commissioner Rehn’s statement, which is related to this legislative package. This is a step towards the introduction of Eurobonds. The President of the ECB has indicated that it would be undesirable to have Eurobonds introduced in a situation where budgetary discipline is lacking. Introducing new debts will exacerbate the European debt problem. Moreover, the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament and the Group of the Greens/European Free Alliance want to exempt public investment from the standard of a maximum … ( )"@en1

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