Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-501-375"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-06-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20110623.37.4-501-375"2
lpv:hasSubsequent	lp_eu:2011-06-23-Speech-4-501-5002
lpv:speaker	lp:Rolandas Paksas2
lpv:spokenAs	vice-chair_member_of_the_bureau; EFD (2010-02-16--2012-01-26)3 member; Delegation for relations with the People's Republic of China (2009-09-16--2014-06-30)3 member; PETI (2009-07-16--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 unknown; Partija Tvarka ir teisingumas (2009-07-14--2014-06-30)3 member; Delegation to the EU-Kazakhstan, EU-Kyrgyzstan and EU-Uzbekistan Parliamentary Cooperation Committees, and for relations with Tajikistan, Turkmenistan and Mongolia (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 substitute; ITRE (2009-07-16--2012-01-18)3
lpv:translated text	"An improved economic governance framework should be built on stronger national ownership of rules and policies and a more robust surveillance framework at the European level of national economic policies. The governance framework must be reformed extensively. In order to ensure that the provisions of the regulation on microeconomic imbalances in the euro area can be properly implemented and achieve the objectives outlined, a differentiated system of sanction allocation must be established. Consequently interest-bearing deposits must be applied to a Member State if it fails to comply with recommendations and does not carry out the corrective actions proposed by the Council. In cases of repetitive non-compliance with the recommendations, the interest-bearing deposits are converted into a yearly fine. I agree with the proposal that the interest-bearing deposit and the fine should be identical for Member States whose currency is the euro, in order to ensure equal treatment for all Member States. Only a strong and independent Commission can properly supervise and give directions in the new deeper and wider economic policy surveillance framework. Consequently, the Commission needs to be given the right to recommend reducing the size of a sanction or to cancel it in exceptional economic circumstances. Meanwhile the power to adopt individual decisions for the application of the sanction should be conferred on the Council."@en1

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