Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-13-Speech-2-105-000"

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"en.20111213.5.2-105-000"2
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"From a legal standpoint, the present summit did not create an easy situation. What we were expecting did not happen, stability was not created, meaning that the trust of the markets could not be regained. Of course it would be worth examining whether this should be our primary aim at all, or whether regaining the trust of the European citizens should take precedence. An agreement has been reached on several matters, pointing to a strengthening of the budgetary union, but an intergovernmental fiscal agreement such as this cannot serve as a satisfactory solution in crisis management. In terms of content, we do have an intergovernmental agreement that brings balance to the national budgets and ensures the application of a correction mechanism to reduce general government deficit, as well as the application of automatic sanctions in excessive deficit procedures, but as regards form, it is unclear how we can put all this into effect. The pact concluded at the summit can be fulfilled only if a Community method for its implementation is found as soon as possible. At the same time, we must not forget that besides measures taken in order to ensure stability, key steps towards economic growth would still be life-saving, yet were unfortunately not brought up at the summit. A shadow has once again been cast on the targets set for job creation and economic growth. Furthermore, we must not forget that this new agreement has also resulted in new national commitments, and therefore countries that make their support for the pact conditional on parliamentary authorisation, including Hungary, are in the right."@en1

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