Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-11-19-Speech-2-613-000"
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"en.20131119.46.2-613-000"2
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"Mr President, Ireland is in receipt of EU funding which delivers much needed investment. Hence I am acutely aware of the importance of cohesion policy funding. I disagree with macroeconomic conditionality being applied to cohesion funding, which is the sanctioning mechanism triggering suspension of funds if budgetary discipline, namely austerity, is not implemented.
Cohesion policy should not have a sword hanging over its head because the banking sector, for one, will be reluctant to provide credit for much-needed projects to SMEs or councils, for instance, when the EU funding element of the project could be suspended. That said, I recognise the work done by colleagues in the Committee on Regional Development to limit the application of macroeconomic conditionality by including socioeconomic safeguards that take into account unemployment and poverty rates in relevant Member States when suspension of the Cohesion Fund is being considered. However, I still believe it will have an adverse impact."@en1
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