Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-435-000"
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"en.20110623.37.4-435-000"2
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"−
This report is part of the legislative package on economic governance and is one of its key elements. It is the regulation on speeding up and clarifying the implementation of the excessive deficit procedure.
While it starts from the premise that there is a crisis in the euro area and a need for a comprehensive and integrated solution to the debt crisis in the euro area, given the lack of success of the fragmented approach used until now, the report ends up calling for the same type of monetarist and neoliberal policies and criteria that led to the crisis. It reiterates and tightens the veritable stranglehold imposed on the Member States, without a care for the causes of the problems, or for alternative policies that take into account economies’ different levels of development.
As such, instead of proposing a pact for progress and social development founded on solidarity and on genuine policies of economic and social cohesion, as we have been advocating, it calls for a deepening of the Stability and Growth Pact and, now, the Euro-Plus Pact. It expands and reinforces application of sanctions and payment of fines for Member States that do not comply with the impositions. This is unacceptable interference, which puts Member States subjected to this excessive deficit procedure in a position of veritable colonial-style submission to the European powers."@en1
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