Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-06-08-Speech-3-306"

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"Mr President, allow me to put the following question to the House: would we be experiencing the current crisis in the European Union if economic growth and job creation were strong here, if the large European countries were offering us a different profile, if they were promoting the whole of the European Union and contributing to balancing the world economy? Surely the answer would be ‘no’. There would be resources, there would be money to fund enlargement, for the challenges of the European Union. But there is no economic growth because there is no confidence. And there is no confidence because we lack determination when it comes to applying and implementing confidence and stability policies. That is the contribution of the Stability Pact. Its reform, Mr Almunia, comes at a complicated time. The next thing now under threat in this crisis in the European Union is the euro. The reform of the Stability Pact must therefore be the right reform. Mr Karas has done an excellent job trying to remedy a mistaken proposal on the basic content of the Stability Pact. Mr Almunia has told us tonight that the Commission is satisfied with Parliament's position on improving the quality of statistics and the surveillance of debt. I would also like to hear from Mr Almunia that he is in agreement with the listing of relevant factors, which are extremely important if the Stability Pact is not to be a box in which we can fit everything, and in which, at the end of the day, the rules can be ignored. We have reached a situation in which each country does what it sees fit in order to promote the policy of budgetary stability and, if relevant factors are undefined, this would be practically impossible. We have an example within the European Union of Fifteen: the countries which have done their duty in budgetary terms are the ones which today are enjoying economic growth and employment. We do not have to look for models elsewhere. We should identify those countries within the European Union and all apply those policies."@en1

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