Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-481-750"

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". I welcomed this document, because the economic and financial crisis has exposed the need to review the framework for the economic and monetary union (EMU) in order to enforce the existing instruments and to broaden the procedures for coordination and multilateral surveillance. As the Commission stresses in its Explanatory Memorandum, the system must be strengthened in order to ‘anchor macroeconomic stability and the sustainability of public finances, which are preconditions for durable output and employment growth.’ The economic governance package comprises six proposals aiming at reinforcing the coordination and surveillance of economic policies in the economic and monetary union (EMU) in the context of the Europe 2020 strategy and the European Semester, which is a new surveillance cycle, a linking process under the Stability and Growth Pact and the Broad Economic Policy Guidelines. I believe that it is particularly important for the strengthening of economic governance to go hand in hand with reinforcing the democratic legitimacy of European governance. Consequently, the role of the European Parliament should be strengthened throughout the whole surveillance process. In addition, regular consultation with social partners and the involvement of national parliaments are necessary preconditions for a credible and transparent surveillance framework."@en1

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