Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-07-04-Speech-1-101"
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"en.20050704.17.1-101"2
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"Mr President, I would first like to commend Mr Lauk for his thorough report and also to thank President Trichet for his presence.
Europe’s prospects for economic success are bound to structural reforms; many of our colleagues have mentioned this. In an economic climate characterised by unsatisfactory budget deficits and widespread unemployment, several points deserve special emphasis.
First, we cannot avoid referring to the Stability and Growth Pact once again. The new framework for the future of the SGP has now been adopted; it has some good as well as some bad new rules. I would like to encourage the ECB to do its utmost to ensure that all reforms to the pact are interpreted correctly and increase transparency and efficacy along with expediting the structural consolidation process. It is important to remember that any weakening of the corrective arm of the SGP would render what was once a powerful mechanism for growth a casualty of flawed political judgement.
Second, we can harness the energy of European competition by adopting and implementing the Services Directive as soon as possible. Likewise, vast benefits for citizens should compel us to push for full regulation of cross-border retail payments, and to work towards a Single European Payments Area by 2010. This is what citizens expect from us.
Third, the reforms undertaken by national central banks to adapt their structures to the new institutional framework are paramount to reversing our current downward trend. I am proud to say the Bank of Finland – my own central bank – is one of the central banks which has made impressive moves towards reaching this objective. It has really tried to reform its structures in order to achieve an improved balance in the eurozone.
Lastly, I congratulate the ECB on its sound decision to support ratification of the Constitution. The choice to integrate under a constitution can only lead to a stronger political union. This is what our voters in France and the Netherlands want, even though they rejected the Constitution; they still want more political union and the Constitution is one way to achieve this on the economic front."@en1
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