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Joint letter of Merkel and Sarkozy to Presidents European Council and Commission

 
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User ID: 832776
Netherlands
05/06/2010 04:44 PM
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Joint letter of Merkel and Sarkozy to Presidents European Council and Commission
We must first reinforce the economic governance of the euro area. At the European Council in March, we decided to establish a Task Force on the measures needed to strengthen and complement the existing framework, exploring all options to reinforce the legal framework. For this work to succeed, all contributions, including by the Commission and member states, need to be assessed jointly by the Task Force. At their upcoming meeting, Heads of States or Government of the Eurozone should send a clear signal that they are prepared to consider for the Eurozone


* reinforcing fiscal surveillance within the euro area, including by providing for more effective sanctions in the excessive Deficit procedure and by reinforcing consistency of national budgetary frameworks with the principles of the Stability and Growth Pact;

* broadening the surveillance to structural and competitiveness issues and imbalances and enhancing the effectiveness of EU economic policy recommendations

* for the future, exploring options to create a robust framework for crisis resolution respecting the principle of member states' own budgetary responsibility;


We also need to reinforce the control of the quality of statistics. The lack of reliability of the Greek statistics explains to a large extent the markets’ distrust in this country. The European Commission has put forward proposals on the strengthening Eurostat’s investigation powers. These proposals must enter into force as soon as possible.

[link to www.bundesregierung.de]
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User ID: 832776
Netherlands
05/06/2010 04:54 PM
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Re: Joint letter of Merkel and Sarkozy to Presidents European Council and Commission
So Moody’s and Standard & Poor’s are history then?
LOL who knows where the money is then..

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