Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-13-Speech-4-310-000"

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"en.20120913.29.4-310-000"2
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"On 28 and 29 June 2012, in the Council, the leaders of the euro area agreed that there is a need to move towards a strengthened economic and monetary union – that is, to complete the legal framework of economic and monetary union (EMU). They also agreed, as I have maintained, that to achieve the final phase of EMU, it will be necessary to work on four essential pillars: a banking union, a budget union, an economic union and a political union. To this end, yesterday, the EU presented a proposal which aims to move towards a banking union which, despite its merits, is based on Article 127(6) of the Treaty on the Functioning of the European Union. This article aims to circumscribe Parliament’s participation in drafting this legislation, forgetting one of the pillars which the European leaders set for themselves: that of political union and democratic legitimacy. It is therefore essential that the participation of the only democratic European entity is reviewed immediately."@en1

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