Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-026"

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"en.20100908.3.3-026"2
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"Madam President, ladies and gentlemen, yesterday, the ECOFIN Council approved the principle of the European Semester. As a federalist, I can only welcome such progress. However, coordinating budgetary policy is one thing; defining their content is another. That is why strengthening the Stability and Growth Pact is a serious mistake. The austerity treatment dogmatically imposed on the whole of Europe is already making its initial effects felt. Spain and Ireland are experiencing ever more difficulties, and the Markit survey, published at the end of August, shows that this treatment is responsible for the stagnation in European growth and, before long, the stagnation in German growth. The series of repressive measures outlined on the agenda of the next informal ECOFIN meeting is even more serious. Imposing automatic financial sanctions on States that are already facing budget problems is irresponsible. It will inevitably fuel the criticisms in all the Member States with regard to their national contributions to the EU budget. Two and a half million citizens expressed the first opposition to the austerity package on the streets of France yesterday. Instead of preserving social safety nets and establishing the social harmony in the EU that is necessary for the recovery, the Council and the Commission are destroying them. Do they measure the impact of such decisions only by the increasing level of Euroscepticism among citizens? For the sake of European integration and of the citizens for whom it is being undertaken, it must be acknowledged, ladies and gentlemen, that strengthening the Stability and Growth Pact is an economic aberration. It is also a serious political mistake."@en1
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