Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-343"

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"Mr President, Commissioner, ladies and gentlemen, I believe we are all running a serious risk of focusing purely on the crisis. After the action that has been taken in setting up the fund to defend the euro in order to help those countries in difficulties and to stop speculation, discussions in this House have focused heavily on the subjects of renewal and stability, neglecting everything else. These are subjects for the Member States. We have focused our attention so narrowly that the issues of the finance and banking system and the related problems of oversight and regulation have been put to one side and almost forgotten. However, I firmly believe that a sense of perspective is needed in our formulation of policy. It is not by accident that the pact was called the ‘Stability and Growth Pact’. An even more accurate title would have been the ‘Stability for Growth Pact’. We need to start talking about growth and development again. This is the best way to stop speculation and to give genuine investors confidence instead. Without proposals relating to growth – I am thinking about the fiscal uniformity that Mr Monti has been talking about; investment resources; making eurobonds available and cohesion instruments, as cohesion is a very important factor for competitiveness – it will be hard to create this positive climate, particularly at the moment."@en1
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