Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-403-000"
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"en.20111201.35.4-403-000"2
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"What is known as the European Semester, or, in other words, procedures for coordinating the economic policy of the EU Member States, has now been in force for a year. This procedure was introduced in the wake of the economic crisis that emerged largely as a result of excessive debt.
Today, we are at the epicentre of the biggest economic crisis in the history of the EU, and we can be quite sure that the European Semester is not enough to restore the confidence of financial markets or to restore growth. It is obvious that it must be followed up with more measures, which we eagerly await. At the moment, in the first year of the European Semester, it is difficult to predict whether this instrument will perform its function. Although more and more Member States are implementing the Commission’s recommendations, such as raising the pension age, facilitating access to capital and using public procurement to stimulate the economy, we still lack determination and coordination at European level. We must hope that, along with a streamlined European Semester, future solutions for the coordination of EU economic policy, which we expect soon following the December summit, will deliver the expected results and contribute to Europe’s rapid recovery from the debt crisis."@en1
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