Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-480-000"
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"en.20110623.37.4-480-000"2
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"The recent global economic and financial crisis has revealed and deepened the need for better coordination and improved surveillance of economic policies in the economic and monetary union. Shortcomings and weak points persist in the current system of coordination and in existing surveillance processes. It is essential to strengthen the framework of the economic and monetary union with the aim of securing macroeconomic stability and the sustainability of public finances. Most Member States will have a vital need for substantial consolidation in order to return to a trend of declining public debt. The problems are all the more urgent, however, given that European societies and economies are facing the consequences of an ageing population, which could put even greater pressure on labour supply and the budgets of public finances. The coordination of the economic policies of Member States within an EU framework should above all include adherence to a sustainable balance of payments and the need for public investments."@en1
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