Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-22-Speech-3-063"
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"en.20100922.3.3-063"2
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"As President Van Rompuy said, the EU governments knew for a long time about their financial problems but failed to react. We need a new financial supervision architecture for Europe. Reaching consensus on the macro-economic surveillance framework is a crucial step in the long-term prevention of future crises. However, the Commission has a decisive fight ahead to counter the still prevailing short-term approach of first trying to restore economic growth and considering budgetary discipline not that important in the foreseeable future. All Member States need to realise that budgetary discipline (a balanced budget) is the only precondition for reliable macro-economic stability. Therefore, the new EU rules and control mechanisms will help Member States in restoring self-discipline. Also, long-term crisis prevention needs robust structural reforms. Are the Member States ready for this effort? I welcome President Van Rompuy’s concept of reciprocity in EU relations with its strategic partners. Such an approach means balancing what the EU wants and values and what our partners would like to get from us. At present, up to 56 different dialogue sectors are numbered in EU-China relations. To overcome such a grotesque situation, political will giving preference to common policies over bilateralism is needed."@en1
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