Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-22-Speech-3-237-000"
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"en.20110622.18.3-237-000"2
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".
Mr President, I am not sure if I can respond to all of the Members. We would not have time for that, but I will try to provide some insights as regards the points made this evening.
So, all in all, your vote tomorrow will be a very important one, a very crucial one for the European Union and its capacity to convince our general public, economic actors and international partners of our capacity to overcome the crisis and facilitate sustainable growth.
Therefore your vote tomorrow will be a great opportunity to achieve a historic milestone of complementing the monetary union finally with a true and genuinely functioning economic union – which we definitely need – and thus enabling the European Union to come out of the current serious crisis with lessons learnt, hopefully also stronger for the future and, in any case, with new appropriate policy tools for sustainable growth, employment and for our citizens’ benefit.
I want to, first of all, thank you all for a very substantial and substantive debate which reflects an overall sense of responsibility for Europe’s economic future, for growth and stability, and for our citizens’ welfare.
I believe we all broadly share the view that balanced and healthy public finances are a necessary condition for sustainable growth and improving employment, which is the goal of the current legislative package. That is why it deserves your support. As many of you have underlined, it is an essential building block in our comprehensive policy response to the current and still ongoing financial and sovereign crisis.
Why is it so important to adopt this package at the current juncture? Because we must be able to show our citizens, economic actors and the international partners that the European Union really can in future prevent a fiscal crisis such as the one we have recently experienced, in the case of Greece for instance.
Never again. That is the first building block of this legislative package. That is why we need preventive budgetary surveillance and effective enforcement as proposed in the package and indeed by your rapporteurs and your committee. That is also why we need a genuinely and effectively functioning mechanism to identify and correct macroeconomic imbalances, in order to prevent the kind of crises we have seen, for instance in Ireland or the credit boom we have seen in Spain.
That is why we need the second building block in this package: an effective mechanism to identify and address macroeconomic imbalances.
Some of you, like Udo Bullmann, Sven Giegold and Philippe Lamberts, have asked whether we consider that the issue of symmetry/asymmetry has been settled. I can provide you with my interpretation and the Commission’s interpretation of this issue which in fact, if you look at the texts, is extremely complicated. I hope that nobody would block this package for the sake of that because it would be impossible simply to explain it to our citizens.
The drafts of both the Council and Parliament cover both the deficit and surplus countries. That is very clear. The differences in drafting would have no substantive impact on the scope or emphasis concerning the economic surveillance to be carried out. I hope that Parliament and the Council can work together and find an agreement that is based on the substance and not the semantics.
There is practically no difference, so let us tick the box and conclude this important issue of symmetry/asymmetry so that we can start working in order to identify and also correct the macroeconomic imbalances and competitiveness divergences."@en1
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