Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-04-17-Speech-3-529-375"
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"en.20130417.97.3-529-375"2
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"I voted in favour of the resolution on the ECB’s 2011 annual report although I do regret that the resolution was not stronger on the need for more effective ECB action in support of growth and jobs. Article 127 of the Treaty on the Functioning of the EU provides that once price stability is assured, i.e. inflation is at 2 % or less, the ECB is obliged to contribute to the EU’s general economic objectives – balanced economic growth, full employment, cohesion and solidarity, as set out in Article 3 of the Treaty on European Union. The ECB’s mandate must now be re-interpreted to put greater emphasis on growth and jobs. I was also disappointed, indeed amazed, that the clauses welcoming the ECB’s actions to combat the excessive lending costs facing euro area Member States and in favour of greater democratic accountability by the ECB to MEPs were removed or watered down in plenary. I do however welcome the reiteration of past EP calls for an increased budgetary capacity for the EMU to support growth and social cohesion, and urging the Commission to present proposals for a new European resolution fund and a European deposit guarantee scheme."@en1
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