Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-12-03-Speech-3-094"

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"en.20031203.7.3-094"2
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"Madam President, I believe that, if you follow the debates in this House, the very substantial differences of opinion that exist here become apparent, and seldom have I heard anything more nonsensical than the statement that the Chairman of the Committee on Economic and Monetary Affairs has just given us, in which she accused the Commission of using rigid procedures as a method of cyclical adjustment. Mrs Randzio-Plath, I can only shake my head at that. If you are capable of accusing the Commission of such a thing, then which Europe, which euro zone, are you living in? We can do no other than back Commissioner Solbes to the hilt and urge him to take the Heads of State or Government to court, for such a breach of the European Stability and Growth Pact cannot be accepted without protest. When this House is told that the Italian Presidency of the Council has managed to produce some tremendous conclusions, I ask myself whether this piece of paper is worth more than an international treaty such as the Stability and Growth Pact. Why should Germany and France see themselves as bound by this piece of paper when they could not keep to the rules? The leading German daily paper, the spoke of Germany and France as a ‘ ’, as digging the European Union’s grave rather than acting as examples to its other Member States of how to do things. The Pact is flexible enough as it is. It is not the case that there has to be a 3% deficit; instead, the term used in the Pact is ‘budgetary compensation’. The difference between 0% and 3% gives the Member States EUR 250 billion in reserve to deal with difficulties caused by the economic cycle, the management of international crises and natural disasters, so the problem is in fact that Germany and France already had no room for manoeuvre left when things started to get difficult. It follows, Commissioner, that it is the reforms that you have to get to grips with rather than growth alone. That is why we are firmly opposed to the Stability and Growth Pact being altered. It has to be adhered to, and the Commission must be given more powers in its dealings with the Council."@en1
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"Duo Infernale"1

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