Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-241-750"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-09-28"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"ro"^^xsd:language2
lpv:document identification number	"en.20110928.19.3-241-750"2
lpv:hasSubsequent	lp_eu:2011-09-28-Speech-3-241-8752
lpv:speaker	lp:Cristian-Silviu Buşoi2
lpv:spokenAs	member; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2013-06-27)3 substitute; ENVI (2009-07-16--2011-11-07)3 substitute; Delegation for relations with the Pan-African Parliament (2009-09-16--2013-06-27)3 substitute; BUDG (2009-07-16--2011-11-29)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2013-06-27)3 unknown; Partidul Naţional Liberal (2009-07-14--2013-06-27)3 member; IMCO (2009-07-16--2012-01-18)3 member; ALDE (2009-07-14--2013-06-27)3 member; Delegation to the EU-Moldova Parliamentary Cooperation Committee (2009-09-16--2013-06-27)3
lpv:translated text	"The euro area is going through a deep crisis at the moment due to the deficient foundations on which the euro area has been built. The Stability and Growth Pact is a particularly useful instrument for maintaining budgetary discipline. However, it has been applied inappropriately, resulting in the appearance of the current macroeconomic imbalances. In order not only to avoid such situations in the future, but also to regain the confidence of the financial markets in the single currency, a series of structural reforms needs to be carried out to remedy the weaknesses in the budgetary surveillance system in the euro area. I think that the agreement which has been reached provides such improvements. One area where the biggest progress has been made is the use of reversed qualified majority voting when sanctions are imposed for failure to comply with the Stability and Growth Pact. This will strengthen the position of the European Commission, which is the independent body that ought to be tasked with applying the sanctions since it is unlikely that Member States will impose sanctions on each other by qualified majority, as has been seen from previous experience. I welcome the reference to Eurobonds as they may provide a solution to the sovereign debt crisis, facilitating financing on the financial markets at lower interest rates. Eurobonds must obviously cover only a proportion of the public debt and contain elements discouraging free-rider behaviour."@en1

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