Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-099-000"

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"en.20120313.6.2-099-000"2
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"What basic conclusion can be drawn from the long struggle with the crisis and the attempts to achieve economic growth and increase employment? The measures which are taken, although relevant and moving in the right direction, are always overdue and lack sufficient depth. Overcoming the crisis will be possible only through structural reforms implemented comprehensively and quickly, with, of course, adequate preparation. It is, however, difficult to combat a crisis and introduce serious reforms when the politicians in power are guided principally by the interests of their own parties in the upcoming election campaigns. We devote too much time to the issues of division of authority and separation of powers in the euro area when, in reality, the real issue at stake is maintaining the dominance of some EU Member States and protecting the interests of those countries and their banks. Economic policy coordination was possible under the previous legislation, for example, as per the provisions of the Stability and Growth Pact, but there was a lack of political will and the corresponding determination. The ‘six-pack’ that has been adopted must, in order to be fully effective, be strengthened by means of the ‘two-pack’. What steps need to be taken next? Is the fiscal compact sufficient? There are still no procedures for a country to exit the euro area or for it to be excluded from the euro area by the other countries in the euro area if this country fails to act in accordance with the agreements or to implement certain reforms. It is good that the European Central Bank, as the primary financial institution of the euro area, has taken action, and Commissioner Barnier does an exceptionally good job of strengthening the single market."@en1

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