Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-017"

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"en.20100908.3.3-017"2
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"Madam President, Commission, yesterday’s decisions by the ECOFIN Council, in conjunction of course with the agreement on a new effective system of financial supervision, are essential steps towards the new economic governance which we envisage. However, we face a broad challenge today. No one can or should stop the imposition of stricter budgetary discipline and stricter supervision. The challenge is to design a new economic model which responds to the demand of European citizens for full employment and fair growth. We therefore need to strike a balance between budgetary discipline and safeguarding the necessary resources for sustainable growth and full employment through public and private investments. We therefore need to address macro-economic balances and the competitive divide between the Member States which will inevitably lead to economic and social inequalities. Above all, however, we need a model for the fairer distribution of the cost of recovery and fiscal justice and taxing financial transactions could play a catalytic role. Europe can and must play a leading role on this issue. It did so in combating climate change by making unilateral commitments. It can and must lead efforts to promote similar regulations at international level."@en1
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