Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-467-250"
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"en.20110623.37.4-467-250"2
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Countries that fail to meet the obligations in the preventive and corrective part of the Stability and Growth Pact may be subject, unless they take appropriate measures (the suitability of which will be decided by the Council) and present a rebalancing plan, to the application of financial sanctions equal to 0.1% of GDP. This is an important requirement for ensuring that the new framework established under the economic governance reform is credible and effective. However, there is no need to be too rigid or extreme; incentives for the Member States are a good idea, too. In this sense I applaud the reference to the issue of Eurosecurities (Eurobonds). I have always been in favour of issuing these Eurobonds, which I believe can bring added value by being issued jointly, and of a strong euro. I hope that Parliament will reach a final agreement and approve the entire governance package as quickly as possible, in order to send a strong and unified message to the public and the markets and to stop speculation."@en1
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