Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-10-19-Speech-1-061"

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"en.20091019.16.1-061"2
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"The surveys published by the European Commission indicate that the current account deficits of the large majority of European Union Member States are expected to exceed the 3% of GDP limit during 2009 and 2010. Similarly, in 2010, an average level of public debt of 80% is envisaged for the 27 Member States and of more than 80% for the countries in the euro area. In the case of Eastern European countries, however, the need to curb the recession clashes with the duty to comply with the Maastricht criteria. In fact, a discrepancy can be seen between the requirements of the Stability and Growth Pact for the countries in the euro area, where deficits and public debt are on the rise, and the extremely stringent standards imposed on those wishing to join the euro area. It is therefore necessary to adapt the Maastricht criteria to the current climate and economic realities characterised by larger cyclical movements. Adapting the Maastricht criteria and providing quicker access for Eastern European countries to the euro area would strengthen the European Union and continue the integration process."@en1
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