Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-039"

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"en.20100325.3.4-039"2
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"Mr President, the situation in which Greece and the euro area have deservedly found themselves is regrettable. Financial assistance for Greece should come primarily from the International Monetary Fund (IMF). The IMF has itself said that it is in an excellent position to help Greece. The establishment of a European Monetary Fund (EMF) seems to be motivated by political considerations, in particular, that is, to save Europe’s face in case Greece appealed to the IMF. However, let us not rush headlong into establishing a new body as a remedy against non-compliance with the existing rules. The necessity and desirability of setting up an EMF are dubious. The penalties provided for by the Stability and Growth Pact must be implemented more actively in order to enforce compliance with the rules. It is really up to the Council now to make a move. Eurostat needs to be given the scope to carefully inspect the budget figures of the Member States of the euro area and thereby monitor compliance with the Stability and Growth Pact."@en1
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