Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-309-500"
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"en.20120613.24.3-309-500"2
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"The original Commission proposal follows on from the previous package – the ‘six-pack’ – and further strengthens economic governance. It is also an attempt by the European Commission to include the ideas of the fiscal compact in EU secondary legislation. First and foremost, this alone constitutes an enormous breach of Union law, since the fiscal compact was signed outside the EU legal system and is therefore not enshrined in its primary legislation. However, this ‘setback’ does not seem to concern the Commission or the majority in this House. The goal is to ensure compatibility between budgetary policy and procedures for preventing and correcting excessive macro-economic imbalances through closer monitoring of national reform programmes. In other words, what is being set out here is the continuation of so-called austerity policies with everything they imply – cutting public investment and public services, cutting wages and benefits, and promoting privatisation – beyond the establishment of mechanisms transferring to supranational institutions budgetary policy matters that should be the exclusive competence of the Member States and their sovereign bodies. The proposed debt mutualisation instruments are an attempt to obscure the obvious – and unacceptable – blackmail and violations of democracy included in this package."@en1
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