Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-12-03-Speech-3-076"

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"en.20031203.7.3-076"2
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"Mr President, Commissioner, Mr President-in-Office of the Council, the Stability Pact is dead. It could be regretted that it was destroyed by the European Council, in relation to the specific difficulties of two large countries, thus violating the credibility of the institutions based on a system of rules accepted by all. However, as far as its form is concerned, this Pact has always been the subject of an intergovernmental agreement rather than control by our Parliament, the only representative of the sovereignty of the people of Europe. What ‘intergovernmentality’ has done, Mr Karas, is ruin it. Federalists and Greens will not lament the death of this Pact – a Pact that President Prodi himself yesterday described as stupid – particularly as since the Amsterdam summit we had criticised its content. It was indeed stupid, doubly so in fact. In the current situation, it aggravates the recessions by penalising the countries that are seeking to support the actual demand on the Union’s internal market, especially in the large countries with a particular responsibility from this point of view. Instead, it would be better to penalise the countries that have deficits in periods of growth. From a structural point of view, a genuine Stability Pact should shelter future investments and in particular the enormous investments required to respect the Kyoto criteria. There is no time left to dither now. A new, intelligent pact must be adopted. Only a pact of this nature will merit inclusion in the third part of the Constitution. Indeed, only an intelligent Constitution will merit the approval and respect of the citizens of Europe. The pact must be contra-cyclic and, at the same time, must not hinder the countries in difficulty. On the contrary, it must penalise the countries that abuse their facilities and in this way, through a sort of climatic golden rule, shelter future investments from the current situation."@en1

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