Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-012-000"
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"en.20121120.3.2-012-000"2
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".
Mr President, ladies and gentlemen, the fundamental message of this report is that a single currency cannot simply be a system of rules but requires proper economic governance, with its own resources and full democratic legitimacy. A genuine Economic and Monetary Union should therefore be based on the EU institutions, around which a true European political space should take shape.
Consequently, an increased role for Parliament is not a case of empire-building but is an essential condition for giving legitimacy and strength to the governance of the euro. However, we believe that a loose federation, based on a clear definition of roles, resources and powers between the EU and the Member States, would be more effective and democratic and, at the same time, more respectful of the national parliaments’ prerogatives than the model that has taken shape in recent years. Because of this, we support the idea of stronger fiscal powers based on own resources, the embryo of a proper European Treasury, provided that this operates within the EU budget and is based on additional resources.
For this reason we believe that the
coordination of economic policies can be increased and must involve Parliament on a different basis from the contract-based model indicated in the interim report. Because of this we believe that implementing common debt management mechanisms at EU level is unavoidable.
So this means reinforced governance, but also different policies. Budgetary discipline should be accompanied by countercyclical measures that can guarantee a suitable role for public investment, and the protection and revitalisation of the European social model should become an integral part of the governance of the euro, a genuine ‘fifth pillar’ based on a social pact that prioritises youth and employment. With this report, Parliament is therefore promoting an ambitious vision and a clear and realistic roadmap. Firstly, full use should be made of the broad margins for manoeuvre offered by the Treaties; in the next parliamentary term, boosted by enhanced legitimacy from Parliament and the Commission, through the mechanism by which the European parties choose the candidate to be chair, a Convention should be set up that completes the process of building proper economic and democratic governance of the euro, which is essential if the crisis is to be overcome and Europe saved."@en1
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