Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-05-17-Speech-3-406"
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"en.20060517.16.3-406"2
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"I voted in favour of the excellent report by my fellow Member, Mr Rosati, on public finances in economic and monetary Union. It was crucial to declare that the public finance situation is very worrying to say the least, with some Member States going bankrupt. Furthermore, it must be noted that Community procedures, whether we are talking about the Stability and Growth Pact (SGP) or the excessive deficit procedures (EDP), only partially resolve this tragic situation and are, indeed, ineffective in a context in which weak economic growth and social demands are compromising the European Union’s capacity to reform itself. The absence of political will to bring some sense back to the crucial budgetary adjustments is reflected in a tragic increase in debt. How long is this irresponsibility going to last? It has become impossible to comprehend how the leaders of the executives in the Member States concerned cannot understand, by using their common sense and by looking at the world's success stories, such as Canada and Demark, that healthy public finances are crucial to achieving higher growth and employment."@en1
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