Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-278-437"

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	"lt"^^xsd:language2
lpv:document identification number	"en.20110928.19.3-278-437"2
lpv:hasSubsequent	lp_eu:2011-09-28-Speech-3-278-5002
lpv:speaker	lp:Juozas Imbrasas2
lpv:spokenAs	member; TRAN (2009-07-16--2012-01-18)3 member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 member; EFD (2009-07-14--2014-06-30)3 member; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 unknown; Partija Tvarka ir teisingumas (2009-07-14--2014-06-30)3 member; Delegation for relations with the Korean Peninsula (2009-09-16--2012-02-14)3 member; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; REGI (2009-07-16--2012-01-18)3
lpv:translated text	"I welcomed this document because the regulation is meant to avoid gross error in budgetary policies, which could put at risk the sustainability of public finances. This translates into an obligation for Member States to avoid excessive government deficits, which are established according two main criteria: deficit and debt. The excessive deficit procedure (EDP), which implements a ban on excessive deficits, provides a sequence of steps to be followed. This system is backed by an enforcement mechanism involving financial sanctions for non-compliance with the provisions set out by the regulation. A reform of the corrective part of the Stability and Growth Pact is necessary as a response to a number of shortcomings highlighted by the economic and financial crisis. Consequently, the proposal focuses on the following measures: making the debt criteria of the EDP operational this measure comes as a response to the marginal role hitherto played by debt, although the two criteria (deficit and debt) are in principle on an equal footing; the introduction of a new set of financial sanctions for euro-area Member States in order to deter excessive general deficits and, if they occur, to encourage their prompt correction; and a clearer and a more flexible framework for the Commission to submit possible recommendations. It follows that the main purpose of this proposal is to deter and correct excessive deficits, to avoid gross error in budgetary policies and to set out the detailed rules to be followed when applying the excessive deficit procedure."@en1

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