Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-051-000"
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"en.20120313.6.2-051-000"2
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"Mr President, at a future time of financial stability, it will be appropriate that all measures as defined in the original Stability and Growth Pact are adhered to by all governments. However, when Parliament discussed the economic governance package of legislation, this House also acknowledged that sanctions and fines only work once countries have returned to a path of stability, already in conformity with the Stability and Growth Pact, and, above all, have returned to economic growth.
It is therefore disingenuous of the Commission to overrule the new government of Spain when it comes to the implementation of the agreed structural reforms and their corresponding deficit reduction. If the Spanish Government’s statement about the 2011 deviation of two and a half percent of the public deficit, together with drastically changed economic growth forecasts, will make the previously set target unachievable, then why will the Commission not revisit the targets? At a time of crisis, targets should be fluid and amended as appropriate, given changing economics.
We need to give Member States that are truly committed to the reform programme the time and leeway to meet the longer-term competitiveness goals in the best way for them. Each Member State will need to take specific measures to return to economic health and should not be sacrificed – in the words of the Euro Group President, Mr Juncker – to maintaining the credibility of new EU rules."@en1
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