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Market speculation can sometimes become a self fulfilling prophecy. | [
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impact. The President of the Commission and I both have this experience. | [
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The first one aims at giving credit enhancement to sovereign bonds issued by Member States. | [
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again. Let me stress that these three types of pressure to induce responsible behaviour reinforce each | [
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policy. Yet we need a policy | [
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State guarantees to improve the longer term funding will safeguard the flow of credit to the real economy. | [
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In the end only sustained economic growth can bring back confidence, create jobs and absorb deficits. | [
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growth. That is the result the citizens | [
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And, of course, most of them will in due course join the euro. However, it is vitally important to safeguard the integrity of the single market | [
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Let me take one step back. I should like to underline that the decisions taken by the four summit meetings since Sunday are part of a process which has lasted for more than a year. | [
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Market volatility began to grow, and this during the very days when brinkmanship in the US Congress about their potential default was adding to the flames. | [
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We cannot have a common currency and a common monetary policy and leave everything else to the states | [
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Global economic growth is slowing dramatically, not only in Europe but also in the United States and some emerging countries. | [
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use of time. The European Union is often charged with coming up with too little | [
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The first front a sustainable solution for the Greek debt. | [
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further. Let me be clear the eurozone is not a derogation from the European Union, it is part | [
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The ratio of highest quality capital will be increased to | [
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I should also like to underline that stimulating growth is an essential part of the package. | [
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summits. Some have expressed the fear that these will lead to divisions between Member | [
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on dealing with the debt crisis. | [
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The immediate political reaction to the July package was positive. | [
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they would be punished by the voters. If one compares this situation with that of ten years ago, the pressure which leaders put on each other has become much more intense, as we have seen in recent | [
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direction. But a treaty change is not the right way to deal with an immediate financial crisis. So we have to get the different time perspectives | [
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But I am deeply convinced the markets will give us the time we need when they see a clear direction and a clear determination. | [
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A new EU IMF programme of up to 100 billion will be put in place by the end of the year. | [
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we also commend italy's commitment to achieve a balanced budget by two thousand and thirteen and we take note of the plan to increase the retirement age to sixty seven years by. | [
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taking emergency actions, like setting up rescue funds, while also putting together, step by step, a new economic governance to help avoid future problems. | [
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it. We took a further step last night in agreeing that, for euro area Member States in an excessive deficit procedure, the Commission and the Council will be able to examine national budgets and adopt an opinion on them before their adoption by the relevant national parliament. Peer pressure has also become more effective, not | [
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simple. It is perfectly natural that those who share a common currency take some decisions together. In fact, one of the origins of the current crisis is that almost everybody had underestimated the extent to which the economies of the eurozone are linked, and we are now remedying | [
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roles. A third and final institutional remark the Euro Summit decided to reflect on a further strengthening of economic convergence within the euro area and on improving fiscal discipline and deepening economic union, including exploring the possibility, should this prove necessary, of limited treaty | [
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investment, being committed to sustainable, inclusive growth and also to employment. | [
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Since many of our Member States do not have the fiscal space to do this, we are proposing to use the Community level so that we can promote growth through some kind of public investment. In the European Council discussion on growth I had the occasion to put forward some proposals, | [
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This is why it is important to have convergence, but also discipline. If we want to have a true European Economic Union we need both. | [
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Sometimes in Europe, when people criticise the European Union, they should be more precise about what they are criticising. Is it the European Union as a project? | [
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I believe the Heads of Government and our Member States are learning that lesson. | [
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|
for instance in point twenty six they make a commitment of course it is a political commitment but it is an important one that at national level they will stick to the recommendations of the commission and the relevant commissioner regarding the implementation of the stability and growth pact even before any kind of formal decision by the council. | [
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|
Unfortunately this has not yet been done. | [
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|
determined implementation. | [
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] | 4,937 | [
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|
This is not only about austerity. | [
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|
We need, more than ever, a stronger European Union we need more than ever a strong euro and we will work for that if there is convergence between the main institutions. | [
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|
At the same time we can internally in the European Union try to see what we can do to avoid this kind of behaviour. | [
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|
That is where I want to ask you also to make the case for Europe in our own countries, as was highlighted on several occasions. | [
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We need growth, and to have growth we need more investment public investment. | [
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It is not just about convergence, we need more discipline so that we can achieve a higher degree of integration. | [
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|
This is exactly the kind of behaviour that we cannot accept in the future. | [
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|
I believe that we do have the circumstances where governments understand that, if they really want to keep financial stability and to stick to a common currency, more discipline, more integration and more convergence is needed. | [
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|
Regarding the economic governance of the euro area, let me put things clearly. We are in the current situation in Europe not only because there was irresponsible financial behaviour but also because our Member States or most of them did not respect their commitments regarding the Stability and Growth Pact. | [
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|
that banks should be subject to constraints regarding the distribution of dividends and bonus payments until the target has been attained. Yesterday, in the European Council, I said to the European Heads of State and Government that the Commission is ready to bring forward a regulation if they really want to be sure that the banks will respect this orientation. | [
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|
such as project bonds, the Connecting Europe Facility and the possibility of anticipating some of the proposals for the next Multiannual Financial Framework, so that we can also show our citizens that we are serious when we speak about the possibilities of growth and are ready to make some kind of public | [
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|
First of all, many of you spoke about banks and why we are taking decisions for banks and not being tougher with them. | [
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|
Mr President, it is good that some progress was made during the European Council Summit last night and it seems that the financial markets are cautiously celebrating. I am pleased that President Van Rompuy and President Barroso are here this morning. | [
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|
The eurozone countries must, of course, find a solution to the problems inherent in fiscal union. | [
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|
We need more details of the changes to the EFSF, as decisions taken behind closed doors seem confusing in the cold light of day. | [
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|
The weak must be strengthened, but in the short term this is a big ask of the strong, especially Germany. | [
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|
Concerning the EFSF, the credit enhancement option has similarity to mortgage and US department guarantees, whilst the SPV option has similarities with known structured products. | [
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|
The SPV funds need to be found at a reasonable cost, and then we will have a window to get the growth package working and sort out the debt overhang, or we will find ourselves facing similar problems again. | [
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|
Bank recapitalisation and still missing crisis resolution are overdue, in part because of political weakness and previous denials of the situation. | [
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|
Finally, overall, we still have to find a solution for the fact that growth was built on debt for too long. | [
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|
Spain, like Ireland, has piled its debt onto the shoulders of its citizens. | [
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|
Yes, we have bought some time, but the feel good factor did not last past lunchtime today. | [
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|
As a large country, it was able to demand and get those few extra crumbs from the table, but that, in the final analysis, is all it amounts to. | [
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|
It is because of the toxic link between insolvent banks and sovereign states that are already under significant pressure. | [
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|
Surely EU leaders can see that we are fast approaching the end of the line. | [
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|
We need emergency scaffolding to prop up the crumbling infrastructure of the euro right now, and in my view the minimum required is some kind of banking union, a deposit interest guarantee scheme, EU wide banking supervision and regulation and, crucially, some kind of bank resolution scheme. | [
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|
Yes, there are some cosmetic differences and some face saving for Spain. | [
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Her life and reign epitomise devotion to duty, commitment, sacrifice, courage and impeccable judgment. | [
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|
We in Northern Ireland look forward to a visit from Her Majesty later this month. | [
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|
I believe it fitting that this House join with parliaments and politicians across the world in marking this significant milestone by sending warmest congratulations to Her Majesty and to His Royal Highness the Duke of Edinburgh on this Diamond Jubilee. | [
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|
Madam President, in recent days we in the United Kingdom and across the Commonwealth have been celebrating the Diamond Jubilee of Her Majesty Queen Elizabeth II, marking her 60 years as monarch and her steadfast selfless service. | [
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It will be our opportunity to celebrate, to thank her for her reign over us and to wish her well in the years ahead. | [
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|
We can all greatly learn from Her Majesty's example. | [
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In return she has the affection, love and respect of people right across the world. | [
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|
The new government will need to deal decisively with the debt crisis, unemployment and, above all, with the systemic corruption which is blocking the Serbian economy and Serbia's society. | [
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I hope that the new National Assembly will execute its oversight powers more aggressively in the future. | [
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|
I hope that the outcome of the ongoing negotiations will result in a deal that brings a stable and strong pro European parliamentary majority. | [
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|
Serbia needs an active parliament if it is to meet its challenges in the European integration processes. | [
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|
This is irrespective of the fact that the consumer may return the car to the rental company with fuel remaining and the consumer will not be and is not reimbursed. | [
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|
While respecting the specific arrangements for close cooperation between Parliament and Commission that are set out in the Framework Agreement we respect and will continue to respect that Framework Agreement and while respecting each of the three institutions' roles under the Treaties, it is by working better upstream that we believe we can really make sure our combined efforts deliver effective and ambitious results to address the challenges Europe faces. | [
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|
You know this already. | [
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|
the need to create jobs and to create growth | [
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|
we intend to adopt the two thousand and sixteen work programme on twenty seven october. in the run up the commission will engage actively in dialogue with parliament in full accordance with the framework agreement. | [
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|
A first orientation debate will be held in College a week from now. | [
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|
And then, of course, next year will also be the year of the MFF mid term review, which is also going to be a big challenge for both our institutions. | [
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|
That comes on top of the 140 proposals which are pending on the table of the co legislators. | [
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|
I hope that we can work closely together with Parliament on this. | [
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|
I want to mention this at the start of my contribution today, because I do believe that we, as Europeans whatever our position may be on European integration, on European cooperation at that moment had a sense of destiny, of common destiny. | [
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|
Where legislation is the right response to address the big things, we will be big on legislation. | [
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|
In conclusion, Mr President, aligning our political priorities and planning can help make all the difference to whether Europeans look at Europe as part of the problem or rather as part of the solution to the huge challenges they face. | [
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|
Some of these proposals are already before you, and more are coming starting with the revision of the energy labelling and emissions trading legislation next week. | [
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|
We need to be, I believe, pragmatic and result oriented. | [
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|
I remember vividly those days. | [
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|
We will present an action plan for developing a real capital markets union in autumn, and we will accompany it with the first legislative proposals in the most pressing areas. | [
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|
Let me say something briefly about this year's state of play and the Commission Work Programme | [
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|
Our strategic agendas those we have already presented and those still to come later this year will obviously be the main frame, and we will keep a clear focus on delivering what we have announced there. | [
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|
The importance of the social dimension in EMU, obviously, but also more widely is something President Juncker and I are both very attached to. | [
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|
If I look back at the last couple of years, we have seen that Europe is facing a number of huge challenges terrorism, as I just mentioned | [
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|
The College will have a further orientation debate dedicated to social policy immediately after the summer. Before looking ahead towards 2016, I would like to stress that it takes in this case, oddly enough three to tango. | [
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14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
0,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
2,
14,
14,
14
] |
|
To launch and guide our discussion, a letter of intent' will be sent in parallel with the state of the union address here in this House. | [
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36
] | 4,997 | [
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14
] |
|
Our proposal pays particular attention to reinforcing and consolidating the annual and multiannual planning and programming. | [
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36
] | 4,998 | [
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14
] |
|
So please remember that those are the pivotal points in our Commission Work Programme. | [
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36,
36
] | 4,999 | [
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14
] |
Subsets and Splits