Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-04-13-Speech-3-017"

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"en.20050413.2.3-017"2
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". Mr President, ladies and gentlemen, it really is a case of saying that the governments have at last understood that the Stability Pact must not act as a brake or even an obstacle to economic growth. Mr President, other Members have exceeded the time allotted to them more than I have, and so the rules should be enforced either for everybody or for nobody. The results of the Brussels European Council have underlined the need for Europe to add a little flexibility to the rules that are paralysing the economy through too rigid and schematic an interpretation of the Stability Pact, which in the end has checked the development of many Member States. With the downturn in the world economy and the new international situation, Europe needed to decide at last to overcome its inability to look to the future with the necessary flexibility. It is no longer possible to imagine Europe being competitive on the international stage when its growth rate is only half that of the United States. It is no longer possible to believe that the value of stability, although a good thing in itself, is enough to overcome the inflexibility that has frozen growth for the last decade. We are delighted that the European Council has achieved a broad consensus on reform of the Pact, and we highlight the agreement reached on the structural reforms specifying the corrective policy that Member States must adopt to comply with the Pact criteria if their deficit exceeds the limit. The pension system, the research and innovation sector, training, and major structural and infrastructure works are investment commitments that are not always compatible in accounting terms with the limits set by the criteria. While there is no doubt that the Pact must be applied fairly in the countries that have signed up to it, it is equally true that the economy of the European Union of the 25, which is characterised by considerable heterogeneity and diversity, requires a richer, more structured, common framework that can allow its differences to be better understood, without negating the objectives laid down in the reference criteria. I should like to remind Mr Watson, to whom I listened very carefully, that there is no economic strategy because there is no political strategy, and because we are still using the economic and financial rules of the last century to face the new horizons of this century."@en1
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