Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-15-Speech-2-413-000"
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"en.20110215.25.2-413-000"2
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"Mr President, ladies and gentlemen, today, the European Commission has expressed a favourable opinion of the decision taken by the European Council in December to proceed to a limited modification of Article 136 of the Treaty on the Functioning of the European Union.
We all agree that we must board the train of reform in order to preserve financial stability, to increase the competitiveness and convergence of our economies, and to release the full potential of sustainable growth which generates jobs.
Now what remains is to determine the track on which we will make this train run, and I believe that, in order to make this European train move forward, the best tracks are EU ones. The way in which we will introduce the European stability mechanism will make a large contribution to answering this question.
As far as the procedure is concerned, the Commission believes that the conditions have been met for undertaking a simplified revision of the Treaty such as that envisaged in Article 48(6) of the Treaty on European Union.
I know that many of you are wondering about the highly intergovernmental character of this permanent mechanism. We, too, would have preferred more rapid progress that was more anchored in the system of the Union. However, we must recognise that this new step does not reduce the current competences of the Union and its institutions. It increases our collective capacity to respond to certain challenges which were not explicitly envisaged in the Treaty.
I would like to emphasise here certain points of substance that were emphasised in the Commission’s opinion. They will help us, I think, to orient ourselves towards a Union which shows more solidarity, a more responsible, united and strong Union.
The first aspect is solidarity. Here, we are talking about a fundamental value of the European Union, and I want to be very precise on this point. Throughout the discussions on the limited draft modification to the Treaty, the Commission said that this modification would in no way harm the solidarity mechanisms provided for in Article 122 of the Treaty on the Functioning of the European Union in the event of difficulties or a serious threat of difficulties in a Member State. As a consequence, and contrary to some people’s opinions, Article 122 is not undergoing any modification.
Solidarity in the Union also means responsibility. There could not be solidarity in Europe without responsibility; nor, of course, could there be responsibility without solidarity. This holds, in particular, for financial solidarity and responsibility, and this is the whole spirit of the transitional stability mechanisms. This will also be the spirit of the permanent mechanism, the conditions for which will be very strict. Let us be very clear: the Member States must all show respect for a responsible financial policy.
Solidarity and responsibility within the European Union can only be enhanced by greater coordination and better supervision. That is the essential lesson that we have learned from the crisis. The economic governance carried out by the Union within the euro area will thus constitute the basis on which the future stability mechanism will necessarily have to rest.
We will have to reinforce European economic governance; that is, we will have to enlarge and deepen it to guarantee the stability of the euro area in particular, and the stability of the European Union as a whole. Extending economic governance means including not only budgetary policies but also economic policies and structural reforms. That is the whole aim of the European semester on which we reached an agreement.
This process was launched by the presentation of the Annual Growth Survey prepared by the Commission. This document says and shows clearly that the current policies are not sufficient. We must do more to respond to current challenges. We must do more together, and we must not be divided. We must do more to create more convergence, and not to create more differences.
As you know, the aim is to allow the Member States in the euro area to create a permanent mechanism to ensure the financial stability of the euro area as a whole. In 2013, this European stability mechanism will replace the current temporary stability instruments – the European financial stability fund and the European financial stability mechanism – and we all know how useful they are.
Regarding the deepening of economic governance, this is the very aim of the package of six proposals which was presented by the Commission. I know that we will be able to count on strong support for this from Parliament, and I thank you for this support. You can be assured that the Commission will support and facilitate this process up to completion so that our ambitions can be realised.
It is precisely this package of reforms to which the future European stability mechanism will belong, as, in the more immediate future, will the reinforcement of the European financial stability fund. I am convinced that our approach is the right one, and that everyone has his or her role to play in it. The Commission will play its full role, and intends, in particular, to participate actively in the work of introducing the future European stability mechanism.
Now, it is not enough to have the right approach; we must apply it. I think that we will succeed in implementing our approach if we all respect a few simple and clear rules of conduct. I am thinking here of democratic legitimacy based on scrutiny by the European Parliament. I am also thinking of the strength that we gain from permanent institutions, which act transparently and which are common institutions for the 27, also guaranteeing consistency across the Union.
I am also thinking of the principle of equality of the Member States in the Treaty and the principle of fair competition, according to which the actions decided on by the Member States cannot affect, alter or harm the efficiency of the cooperation that takes place at European Union level.
We will be vigilant in making sure that none of the carriages decouples, which would risk derailing the whole train. We must invest more in trust between the Member States, and between the Member States and the European institutions.
We are a Union, and we must act as a Union in order to emerge from the crisis and to build solid foundations for a more competitive, more prosperous, more stable and more inclusive Europe. This is the spirit in which our actions must take place; this is the spirit in which the Commission has acted, and will continue to act. I think I can say that we can count on your support here.
We are talking here about a decision which is essential for confirming our determination to defend our common currency and to guarantee financial stability when faced with economic imbalances in certain Member States, imbalances which we must correct. This is a mechanism which is necessary to complete the framework of the Treaty.
This being so, and as I emphasised myself during the last European Council, every initiative – including those concerning the competitiveness and convergence of the European economy, and I say competitiveness and convergence because this is also about the convergence of our economies – every initiative, I said, must respect the Treaty as well as the principles and rules that have been established for the Union and for its institutions.
The Commission will therefore take every initiative – legislative or otherwise – to guarantee consistency between the future stability mechanism and the economic governance carried out by the Union within the euro area.
Respect for the Treaty is, of course, very important, and I am reassured that the European Council, on 4 February, explicitly recognised that. The mechanisms for reinforcing the competitiveness and convergence of the European economy, which apply not just to the 17 current members of the euro but to all the 27, will be created with due respect for the Treaties – that is, for the competences of the Union and of its institutions and, in particular, the competences of Parliament and the Commission. The opinion that the Commission has just adopted makes explicit mention of that.
What we are talking about today is a question of general European interest. It is obvious that safeguarding the euro is not just in the interest of the Member States in the euro area. It is for this reason that the Member States which do not belong to the euro area can be involved, if they wish, in the work of introducing the permanent mechanism. They will also be able, if necessary, to decide to participate in the operations which will be implemented in the context of this future mechanism, as some have already done within the framework of the current temporary mechanisms.
We are also talking today about our global response to the crisis, of which the establishment of the future European stability mechanism is one of the key elements. We must move forward quickly and properly on this subject.
Urgency does not mean haste, and it certainly does not exclude taking time for joint reflection. The decisions that we will be taking in the coming weeks to implement the lessons of the crisis are fundamental decisions for our common future. We must therefore be very clear on the orientation to which we want to commit ourselves."@en1
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