Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-06-08-Speech-3-288"

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". Mr President, Commissioner, we have often debated the Stability Pact here in the past. I thank the rapporteur for his report, which has built on the Council decision and finished the job, although I cannot hide the fact – and I say so directly – that I am not happy with the Council decision. The precondition to a Stability and Growth Pact in an area with a single currency is that budgetary policies should converge, that they should not diverge too greatly. What is ultimately at stake is nothing other than the viability of our currency. We have had enough material for discussion over recent days about the views that many, including many in positions of political responsibility, take of this and, where possible, debates in previous months also made a further contribution. We expect the Commission – as the rapporteur said – to set out exactly how the Council decision will be interpreted through the regulations in the future. What is meant by a ‘slight excess’ or a ‘temporary’ one? Which ranges will be accepted by the Commission in future? I hope and wait for the Commission to be strict here and we shall soon see how – with one eye on Italy – it approaches the new Pact and if it is worth the paper it is written on. I hope for the necessary strictness here. I also hope that the Commission will always put its finger on the actual problems. Making correlations of this kind between unemployment and the Stability Pact is typical of the cheap policy being pursued in the nation states, and so we should not be surprised if a majority of people believed in the referenda what the nation states convey in Brussels: that the euro is responsible for unemployment and it would be best to get rid of it. The Commission has a huge responsibility not to give into these cheap arguments by the nation states and, if it comes down to it, to draw the necessary conclusions, take recourse to the Court of Justice where necessary and fight for the euro, a strong currency and the future, as did its predecessors. This regulation and the Council decision do not make your life any easier. You will have even more responsibility for it. I wish you luck with it."@en1

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