Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-434-500"
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"en.20110623.37.4-434-500"2
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"−
The rules on budgetary discipline and on complying with and enforcing it should be strengthened, in particular by giving a more prominent role to the level and evolution of debt and overall sustainability. I therefore agree with an assessment of the sustainability of public finances, including the debt level, debt profile – including maturity – and debt dynamics. In this context, private debt cannot be forgotten, to the extent that it may represent a contingent implicit liability for governments. The framework to control public debt and private debt should support long-term growth, taking due account of the anti-cyclical role of budgetary policy as well as improving the preconditions for investments and the development of the internal market, which is essential to ensuring the correct functioning and the strengthening of the economic and monetary union. It is important to establish a European Monetary Fund, managed under Union rules and financed in particular with the revenues from the fines, in order to safeguard financial stability of the euro area as whole."@en1
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