Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-095-500"
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"en.20120313.6.2-095-500"2
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"The last European Council meeting apparently ended in success. Despite the opposition of two Member States, the Council succeeded in signing the fiscal compact, which is to be an important element of the economic stability of European countries. The fiscal compact is very often criticised as a solution which is not only overdue, but also insufficient. Even though the provisions of the agreement are not perfect, it has allowed continued stabilisation of markets and calmed the mood among investors. The principal task facing us today is the implementation of the compact’s provisions and compliance with the principle of community which we defend so vigorously. In addition, it is important how the provisions of Article 12 are implemented or, in other words, whether the voice of signatory countries outside the euro area will, in fact, be heard during Euro Group summits. I would also give a cautious welcome to the decision by members of the euro area to mobilise part of the funding from the second Greek aid package for ongoing expenditure and to launch a process to reduce the Greek debt. Unfortunately, it is a big problem that many measures taken to salvage the Greek economy do not have the support of most of society. We must not forget that prudential measures alone are insufficient and, sooner or later, Greece will have to focus on investments to stimulate growth and employment."@en1
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