Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-09-Speech-3-124-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-03-09"^^xsd:date2
dcterms:Is Part Of	lp_eu:Amendment of the Treaty on the Functioning of the European Union with regard to a stability mechanism for Member States whose currency is the euro (debate)2
dcterms:Language	"cs"^^xsd:language2
lpv:document identification number	"en.20110309.7.3-124-000"2
lpv:hasSubsequent	lp_eu:2011-03-09-Speech-3-125-0002
lpv:speaker	lp:Jiří Havel2
lpv:spokenAs	vice-chair; Delegation to the EU-Former Yugoslav Republic of Macedonia Joint Parliamentary Committee (2009-09-29--2012-07-08)3 substitute; Delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo (2009-09-16--2012-07-08)3 substitute; ITRE (2009-07-16--2012-01-18)3 member; BUDG (2009-07-16--2012-01-18)3 substitute; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3 member; S&D (2009-07-14--2012-07-08)3 unknown; Česká strana sociálně demokratická (2009-07-14--2012-07-08)3
lpv:translated text	"In May 2010, the long-term fiscal imbalance in Greece resulted in a major rescue package amounting to EUR 720 billion from the resources of the EU and the International Monetary Fund. Despite the fact that the special European Financial Stability Facility (EFSF) was created for euro area countries, with resources of up to EUR 440 billion, it cannot be said that all of the EU’s problems have been overcome. Moreover, the operation of the EFSF terminates at the end of 2012, and a measure of uncertainty prevails among investors as to what will happen with the debts of problem euro area countries after this date, or after the guarantees provided run out. It is for this reason that a change to Article 136 of the Treaty, creating a stabilisation mechanism after 2013, is desirable for the EU’s future financial and fiscal stability. Nevertheless, I would like to point out that this mechanism will not be a panacea for the actual protection of the budgets of problem (or peripheral) states, and that we also need to consider a comprehensive solution to this problem (public debt reduction, renewal of confidence in the banking sector and structural reforms, including fiscal consolidation of the peripheral states in order to boost their competitiveness). On the whole, I think that the report submitted by Elmar Brok and Robert Gualtieri presents an accurate analysis of the issue, referring to the relevant EU legislation as well as the opinion of the Committee on Budgets, and I therefore recommend approving the amendment to Article 136 of the Treaty in its proposed form."@en1

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