Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-163-000"

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"Mr President, ladies and gentlemen, I should like to point out, now that we have reached the conclusion a year after the proposal was first tabled, that the Feio report reviews the Stability and Growth Pact and hence finally establishes a check requiring States with a debt/GDP ratio of more than 60% to achieve a 5% reduction. It does so by laying down and clarifying the debt criterion and the procedures on the pace that has to be followed. The Commission will have to consider a range of factors in this global economic context before assessing and making its recommendations to the Member State concerned. The report introduces the fundamental principle that reducing one’s debt means paying less interest and therefore being able to spend more on investment and growth, which is the real objective on which we will have to focus over the next few months."@en1
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