Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-11-Speech-3-042"

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"Mr President, during the debates on the Spring Summit in recent years, we urged the Member States to work on the Lisbon process. After all, economic growth and low inflation provided scope for reform. Reform was necessary in the competition with up-and-coming economies and is, indeed, still needed. The current crisis shows that Member States that responded to this request now perform better than others. The other Member States show major budget deficits, and the fact that the Member States that were deaf to our request are now transferring these deficits is threatening the stability of our currency. I should like to ask the Commission to monitor Member States to ensure they observe the Stability Pact. Only in this way can we avoid the costs of this crisis getting out of hand. Temporary support measures that meet the sustainability test can therefore be applied on a limited scale. In addition to all new plans, it is obvious that old agreements should be observed."@en1
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