Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-16-Speech-4-960"

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"en.20101216.15.4-960"2
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"I voted in favour of this European Parliament resolution which discusses the need for Member States to establish a permanent crisis mechanism to safeguard the financial stability of the euro area as a whole. This instrument is aimed at effective and rigorous economic surveillance and coordination, which will focus on prevention and will substantially reduce the probability of a crisis arising in the future. In order to streamline the current processes of economic policy coordination and remove overlaps and to ensure that EU strategy is understandable to market operators and citizens, it is necessary to move to more integrated approaches and to bring about a change in the decision-making process. I agree that we must strengthen the involvement of the European Parliament in legislative procedures related to the crisis mechanism, so as to improve democratic accountability and to rely on the expertise, independence and impartiality of the Commission. As the European Stability Mechanism is meant to complement the new framework of reinforced economic governance, the European Parliament calls on the Commission to present a communication, following consultation with the European Central Bank, containing a comprehensive description of this permanent crisis mechanism."@en1

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