Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-503-000"

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"en.20110623.37.4-503-000"2
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". I have abstained. On the negative side, this report introduces the possibility of sanctioning Member States that do not apply measures to correct excessive imbalances. Specifically, the possibility to impose a sanction of 0.1% of gross domestic product (GDP) in the case of Member States that do not apply the recommendations is introduced. However, on the positive side, it also includes the requirement to introduce the ‘reverse voting mechanism’ clause which implies that sanctions must be adopted except when the Council (exclusively the euro area members) votes against this by qualified majority. When we ask for more economic governance and coordination these must, of course, be accompanied by certain sanction measures. However, it is still not clear what would be the real economic effect and the effect of the application of this very rigid sanction on the citizens of the Member States. As there are no reports providing justification, I am therefore abstaining."@en1

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