Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-12-16-Speech-2-206"

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"Mr President, perhaps we can come back to Europe now. Faced with a regional, financial, economic, social and climate crisis, this French Presidency has been buffeted by the world’s agenda. It has been able to respond and, under your impetus, the French Presidency has been able to rise to the challenges. I think it is right and helpful to say so. It is also helpful for us all to look together at what remains to be achieved so that the responses to these crises can be as complete as possible. Our reaction to the financial crisis was coordinated and rather well thought out, but now, I think, we have to move to action and start on the foundations of a system of world governance, not only with regard to regulation. The Madoff affair showed clearly that we need monitoring but we also need penalties. We need a European regulator and, in time, we need a European public prosecutor. Likewise, we still have much to do to respond to the economic and social crisis. The European plan, as you know, unfortunately falls well short of the American plan. We need major projects, innovation, research, infrastructure, sustainable adaptation. This is what has to be on the European agenda in the months to come. Likewise, we must take heed of the lessons learned from this crisis for the future, working towards better financial and monetary coherence, especially within the euro area, which, incidentally, will help to resolve misunderstandings between France and Germany, by giving ourselves some room for manoeuvre that will be very useful at a time of recession, when growth will, I hope, return as quickly as possible, and by restoring the Commission’s central role because it must not under any circumstances abandon its right of initiative. At a time of crisis, it is rather a duty of initiative, I think, that you ought to have. Finally, under your Presidency, we have reached a compromise on the climate crisis. It is a compromise, it is not perfect, but it is there. What I regret is that it leaves aside, for the moment, the vital question of aid to developing countries, which continue to suffer the consequences of climate change for which they are not in any way responsible. Therefore, Mr President, in relation to all these matters, it is my hope that tomorrow Europe will be able to satisfy the expectations of our fellow citizens."@en1
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