Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-03-11-Speech-2-256"
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"en.20030311.10.2-256"2
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"Mr President, Commissioner, ladies and gentlemen, three of the reports before us this evening provide an opportunity for us to assess the functioning of economic and monetary union prior to the Spring European Council.
Turning to the situation of public finances in France, one cannot help remarking that economic policy is not considered as an issue of common interest. The Treaty is not being respected. One cannot help remarking too that economic and monetary union does not actually exist, certainly as far as economic union is concerned. The Stability and Growth Pact is at the heart of these mechanisms. Nevertheless, it appears to be more of a safeguard rather than a tool of economic policy. The adoption of the Lisbon strategy could subsequently have been the catalyst that would have provided the economic and monetary union with an economic policy. In short, the Stability and Growth Pact has not proved to be a dynamic tool for implementing this strategy.
In principle, the tools we have at our disposal are the famous broad economic policy guidelines we are discussing again this evening. These will galvanise approaches on European Union economic policy in the weeks and months to come. What could the outcome be, Commissioner? At present these broad economic policy guidelines are functioning as an academic exercise. They are not having any impact on the public finances of the Member States, which simply wait for penalties to be imposed through the implementation of the Stability and Growth Pact once it is too late.
Europe needs a strategy for growth. You said so yourself in your speech. This means we need more tools than we currently have available. Commissioner, the Council has just expressed its opinion on your statement. I think we need to go further and we must do so at the Convention. I think that we must work together to establish mutually acceptable proposals. We should draw up measures which will at long last endow the European Union with the means not only to develop a genuine economic policy, but also to conceive of it as serving the common good and to implement the objectives of the Lisbon strategy."@en1
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