Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-154-000"

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"Mr President, I have voted in favour of Ms Ferreira’s report, in the same way as I have voted for the entire package. I would like to take this opportunity to thank Ms Ferreira, the rapporteur, very warmly for her cooperation over the whole of the last year and to congratulate her on the result of the vote. I am convinced that the Ferreira report and the accompanying macroeconomic supervision represent a real innovation. In the area of the Stability and Growth Pact, all that we have done is to tighten up the regulations which were already in place. We have not introduced any new criteria and when one part of this House says that we are nipping growth in the bud, then conversely I have to ask: Was there growth in the countries which did not comply with the Stability and Growth Pact? Did the countries which were least compliant with the Stability and Growth Pact have the highest growth? I believe that the analysis of the results in the Member States in recent days shows that exactly the opposite is the case. However, the contents of Ms Ferreira’s report represent a genuine innovation. It should help us in future to identify at an early stage if something is going wrong in a country, which I believe is fundamental. If we had identified the problems early, we would have been spared the situation in Greece, Ireland, Portugal, Spain and perhaps also Italy. We would have realised perhaps years ago that something in these countries was not going in the way we thought it should. All I would like to see now is this instrument being implemented effectively by the Commission. I would like it to achieve its objective, which is to function for the benefit of the Union and of the people who live there."@en1
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