Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-082-000"
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"en.20111116.5.3-082-000"2
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"At a time of deepening crisis, which is being experienced in Europe in particular, the overriding objective should be to take joint actions aimed at the stabilisation of European economies and better coordination of anti-crisis measures. Discussions as to how this objective should be brought about effectively often come with concerns that the introduction of new principles of economic governance in the European Union may lead to the creation of a two-tier Union. These concerns are not unfounded. However, the facts already point to the existence of two Unions: one encompassing the euro area Member States and the other, more political, consisting of all 27 Member States.
It is evident to me that the States with the common currency need to have instruments for conducting common fiscal and monetary policy, as well as measures for enforcing discipline across these two areas. Accession to the euro area comes with shared responsibility for the state of the single currency. It is therefore obvious to me that membership in the euro area must be linked to acceptance of the principles of single economic governance. This is not only for the benefit of a particular Member State, but also for the common good."@en1
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