Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-21-Speech-1-045"
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"en.20021021.4.1-045"2
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"Mr President, Mr Prodi, I should like to describe your statement in
as economically understandable and fair, but politically not very astute. We only have to look at today's debate to know what I mean. It appears to be a debate between the people who create the impression that they want to do away with the Stability and Growth Pact altogether, on the one hand, and, on the other, those who have apparently accorded the present Stability and Growth Pact the status of holy writ. This should not be what the discussion is about. What should it be about? In my view, it should be about striking the right balance between the need, recognised also by my own group, to reach a structural credit balance in the medium term and the equally important need to take into account the economic reality and cyclical movements. Is this now a licence, as some fellow MEPs call it, for every country to do as they like? No, indeed not. It is, however, an incentive to further refine the rules of the Stability and Growth Pact by, for example, drawing a distinction between necessary investments, infrastructure and by showing concern on the one hand, and – we might as well give all the details – irresponsible election promises, on the other. It is right in my view that countries experiencing an economic downturn, such as Germany for example, are given more time to get their budgetary position on track. However, in my view, countries that are intent on a structural deterioration of their deficit by, for example, making out bad cheques, like France, should, in my view, be given a yellow card in future, with good reason. Mr Prodi, if it was your intention to stir up a discussion about a reform of the Stability and Growth Pact, then you can count on my support. I admire your courage when you say that you do not want to remain deaf and blind to the changing economy. If that is the case, I can forgive you for your bad timing. I can assure you: intelligent agitators invariably do well in the end."@en1
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