Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-430-250"
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"en.20110623.37.4-430-250"2
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"Current events show that the European Stability and Growth Pact is not very efficient and has failed to prevent several Member States from encountering serious problems in their balance of payments and in paying off their debt. In addition to the aid provided to these countries by the EU, the institutions are therefore working to strengthen the Stability and Growth Pact in order to avoid crises of this kind in the future. That is the objective of the economic governance package, of which this report by my colleague Mr Feio is a part. The report deals with the implementation of the excessive deficit procedure. I am in favour, in particular, of calculating debt reduction according to an average rate calculated over a three-year period, rather than according to a fixed rate each year over a three-year period. I supported this report, just as I support the economic governance package as a whole."@en1
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