Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-21-Speech-1-046"
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"en.20021021.4.1-046"2
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"Mr President, Mr President of the Commission, our citizens deserve a strong euro. The euro can never become a dominant currency in the world, the sort we have set out to create, unless the aims of the Stability and Growth Pact are strictly adhered to. I do not really understand why you are now saying that the Stability and Growth Pact is stupid. Before the articles in the Pact were signed and sealed you were an economist, a qualified economist, and you were influential in the debate on economic policy. Why did you not say these conditions were stupid before the Treaty of Amsterdam? We agreed this Pact for situations just like these: to make the work of politicians easier when there is a recession and it is difficult to balance public sector finances. This is no surprise. Economic boom periods do not last forever. It is certainly no surprise for any Minister of Finance, and it cannot be a surprise for the Commission. Booms are followed by recession. It is quite obvious that it is more difficult to achieve the aims of the Stability and Growth Pact in a slump than it is during a period of economic prosperity. These four Member States which are now in difficulties and which have promised their citizens something they cannot do are paying the price of not doing what they should have done when we had an economic boom.
Many Members of Parliament would be prepared to increase the Commission’s responsibility and extend its role in coordinating economic policy. Unfortunately, however, remarks like these and the fact that they are being made by Members of the Commission at all, none of whose business this is in any way, do not in the least increase our faith in the notion that we should be giving the Commission a greater role in the coordination of economic policy in the Convention on the future of Europe. When Commissioner Lamy, for example, condemned the Pact as being medieval he was evidently representing more the French Socialist Party rather than the Commission’s view on trade policy. You really should withdraw remarks like these, and I am furthermore asking you to give more thought to what you say."@en1
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