Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-278-000"

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"en.20120613.24.3-278-000"2
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"This draft regulation on the strengthening of economic and budgetary surveillance of Member States experiencing serious difficulties is set against the background of the financial crisis and the sovereign debt crisis now confronting the European Union. The Commission’s proposals complement the ‘six-pack’ on European economic governance adopted by Parliament and the Council in 2011. The broad thrust of the Commission proposal provides for a Member State, whose currency is the euro, to be subject to enhanced surveillance when it is experiencing – or is at risk of experiencing – severe financial disturbance. In order for action to be taken swiftly, it should be the Commission’s responsibility to take the necessary decisions, including placing a Member State under the enhanced surveillance procedure. The Council could repeal such a decision by a simple majority vote within 10 days. I supported the draft as amended by the EP."@en1

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