Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-099"

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"I would like to thank Mr Feio for his work on the draft report. It seems to me that we are returning to business as usual rather too quickly as far as the threats facing Europe are concerned. We are not giving proper attention to the warning signals from the financial markets, or from people such as President Trichet, who indeed called the Commission proposal a good but inadequate step towards strengthening the Stability and Growth Pact. Our role today, as the European Parliament, is to defend the European Commission’s proposals against the governments of the Member States which have not, apparently, learned any lessons from the crisis. If the European Council had properly adhered to the provisions of the pact, the scale of the European crisis in public finances would have been much smaller. If, today, we allow governments and, in particular, the governments of Germany and France, to water down the Commission’s proposals, the crisis will deepen, and we will have to wonder whether the entire common currency project has any point in its current form, and whether we will inadvertently prove that the euro was a failed experiment. Parliament faces a major task. We must defend the euro, and oppose any short-term political aims. We must force all Member States to conduct responsible budgetary policies, painful though it may be. Thank you for your attention."@en1

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