kfajdsl/voxpopuli huggingface dataset:
this includes being as open as is legally possible to all member states who want to participate.
it also called for a rapid conclusion of the single rule book including agreement on the proposals on bank capital requirements.
fixing accountability at the level where the decisions are taken will be one of the fundamental principles which will guide our discussions on economic and monetary
let me give some examples.
one important element is the political commitment of the heads of state and government that agreement should be reached by the end of this year.
these include most importantly that the ssm should cover all banks that there needs to be openness as full as possible and to have as full as possible participation by the non euro member states which so wish and that the ssm is a key element in proving
european council summits.
the reality once again if you want to be honest in our assessment is that not all member states feel the same degree of urgency. this is probably due to the fact that they are in different financial and fiscal positions but i believe that it is important for the credibility of our
so europe was not the cause of the problem europe is indeed the victim of the problem and is now trying to be part of the solution.
employment and social cohesion are not just an outcome of economic growth but are also an important determinant. the commission strongly believes that our values of social justice solidarity and equal opportunities must remain at the heart of european integration and continue to be understood
the growth fuelled by excessive debt is not sustainable.
we believe we should do everything we can to keep the integrity of the euro area because when you accept more flexibility in terms of fiscal adjustment you have to think what the consequences in terms of deficit stability will be and how we can keep those countries going to the market as soon as possible so that they can finance their own state.
some of these issues are extremely difficult from a political and technical point of view but the decisions should be as urgent as possible.
jobs. this is our final and ultimate
one point where there was some progress was on the single supervisory mechanism and i am also glad that this debate today has shown a broad degree of consensus on the principles set out in the commission proposals and reflected in the european council conclusions.
imf. now one thing it is important to note and which people have not paid sufficient attention to is that some of those who are now saying that we should be more let us say flexible in terms of the fiscal targets are exactly the same people as are proposing hard restructuring of debt;
it was interesting to see in the debate that many people are speaking about having a real minister for finance in europe.
this has implied a number of new challenges for all of us notably in terms of ensuring that the labour market and social issues are adequately reflected and assessed within this new framework.
so europe is part of the solution and now we have to do everything we can to stabilise the euro area and to create the conditions for growth.
the british people are suffering the consequences of past mistakes.
i think we are now coming to a moment where probably because there is less pressure coming from the markets the sense of urgency in all of our capitals is not the
i particularly welcome the determination expressed by parliament namely by rapporteur ms thyssen to advance the ssm work so that we can reach a quality result by the end of. two thousand and twelve the commission will work closely with you to further improve the ssm proposals and open the way for the operational phasing in of the system in two thousand and thirteen
at the beginning of two thousand and thirteen the commission will present a social investment for growth and cohesion package which will also address various aspects mentioned under what some of you have described as the social pact.
i did that on purpose because this summit was important in terms of confirming some earlier decisions.
as had in fact been proposed by the commission starting with systemic banks and eventually extending to all banks in the euro area and participating non euro area member states.
the message i want to convey to you is that yes we are doing everything we can with the tools and instruments available at european level to inject this economic and social dimension into the broader response to the current crisis in the economic situation of the
i want to be clear on this aspect as well.
in fact though the final decisions on some of those most important matters will come later namely regarding the emu in december and regarding the mff hopefully in november.
our fiscal rules the revised stability and growth pact allow for this when the economic situation turns out to be worse than expected and the reduction of the deficit in structural terms is taking place an extension of the period to correct a nominal deficit can be granted.
this integration results from the fact that economic growth and employment and social aspects are two sides of the same coin.
it is very important to understand
same. that is why i expect parliament and the commission as european institutions that keep firmly to the agenda to understand that without a complete comprehensive response to the euro area governance we will not have the necessary conditions of confidence and confidence is critically important to restore investment and growth and
of course we have to know that we are working on extremely sensitive matters where to be frank the initial positions of our member states are very diverse and where the interest i believe of all the european institutions is to create the right conditions for consensus and operational decisions.
how can we complement some of these decisions with proper consideration of the social dimension?
so it is intellectually i repeat it is politically and intellectually dishonest to pretend that the euro is the cause of our problems.
regarding the future responses on mutualisation of debt you know what our position is.
we have a crisis today in the european union economy because of excessive debt created by national governments and because of the irresponsible financial behaviour in some sectors including outside of europe.
as prerequisites for our future economic prosperity for the well being of european citizens and for european cohesion.
one point i want to make clear and that i do not agree with is the position of those who say that they are in favour of the content of the two pack they are in favour of more integration in supervision of budgetary policy they are in favour of reinforcing the competence of the commission
this was also the position of madam lagarde when she said conseil ncessaire et possible' which means in english advice when it is needed and possible' and this is exactly the position taken by the institutions that are monitoring the situation in some of our countries. in particular in the case of countries under financial assistance namely greece ireland and portugal one must assess
for the current challenges in the euro area and in the european union.
it shows his words to be empty and that once again we have a conservative party which talks tough on europe with its sprinkling of judas goats.
what a heavy price we are paying for the eurocrats' fantasy of a united states of europe.
why? was this not the opportunity to renegotiate some of those powers back from the european union as cameron endlessly promises?
so i call on those conservative supporters to stand up to david cameron for the future of your party and for our country.
frankly i think that the award of that nobel prize devalues that whole organisation.
i note great enthusiasm in this chamber for spain to have a bailout lots of members here want spain to accept the bailout so that they too are subjugated to this new order.
you now want them to sign budget guarantees and to have the power to strike down national budgets after they have been through parliaments. i have to say i feel that the eurozone is now in a very dark place economically socially and politically and i fear that the countries trapped inside it in that prison will be there for many years to come.
i predict one thing big political change is coming in britain because he is losing the support of millions of his own voters.
i thought that when the bailouts happened and i could see the panic around this chamber with people fearing economic meltdown. but.
i thought it was just going to be a federal europe a federal union but actually it appears with every statement you make that what you now want is the total subjugation of states to completely undemocratic structures based in brussels.
yet i do not hear a word of that because we loathe america and everything that it stands for.
no the threat actually came from russia and we should be thanking nato and millions of american soldiers who served on european soil to maintain peace.
so it is odd that against this backdrop the nobel peace prize has been awarded to the european union.
you of course were calm through it all because you saw the bailouts as your opportunity to take control.
the sinister sounding troika come in fifty officials spend a few days in the country investigate the situation and then tell puppet prime ministers what they may or may not do.
it is not all bad news because in britain the opinion polls are clear that a clear settled majority of brits now want to leave this union leaving david cameron as piggy in the middle trying to pretend to be a eurosceptic when he comes over here going back home and claiming victories but he is stuck.
no this is now a divided split europe with neo nazi politics on the rise and violent demonstrations in the streets.
indeed in italy the appointee there mr monti is very keen for his own country to be bailed out because to quote him he fears that parliamentary democracy could bring down the european union.
it is pretty clear that your next phase is for those that have not been bailed out and may not need to be bailed out.
yesterday's vote by the committee on economic and monetary affairs on the appointment is an understandable expression of concern that a great deal remains to be achieved notably regarding the european central bank. but i note also the committee's recognition that the candidate's professional competences
which i know is of concern here the appointment to the vacant seat on the board of the european central bank which was raised both by me and by your president in his speech at the beginning of the meeting.
i hope that with such renewed commitment to gender balance parliament will base its final decision on the current candidate for the ecb executive board on the sole criteria of professional qualification and experience.
for my part at last week's european council i made a strong appeal to all heads of state or government to identify and propose female candidates for vacant posts at european level in particular in the economic and financial sectors where the under representation of women is blatant.
creating jobs and boosting socially inclusive growth remains our utmost priority and our ultimate goal.
first our relations with china taking a step back and looking at the long
the union is contributing to the international efforts led by the united nations to stabilise the situation.
the commitments made under the compact for growth and jobs cannot wait they must be followed by decisive action and translated into concrete results.
the ssm will be designed and implemented with the integrity of the single market for financial services in mind.
we exchanged views on how to engage constructively with the new leadership. we must pass on the same messages to beijing both the easy and the difficult ones in our contacts at all
of course restoring confidence in the eurozone is a key part of bringing back internal demand and growth.
china. we will respond in the same spirit with our own proposals.
it is therefore all the more necessary to share the burden of this adjustment fairly and to have policies especially targeted at reducing unemployment.
the eurogroup will examine this progress in light of the forthcoming troika report and take any necessary decisions.
two thousand and thirteen this places a huge responsibility on all of us to meet this ambitious timeline.
on our external relations and our foreign policy.
first growth and jobs.
in the specific case of greece significant progress has been made.
make in response to the country specific recommendations of the council to promote growth and
let me give a few examples.
let me put it this way if we fully use all our tools the six pack the forthcoming two pack the european semester with its country specific recommendations the new macroeconomic imbalance procedure and the treaty on stability coordination and governance then we will have already taken a major step towards fiscal and economic union.
in several countries the adjustment is more severe and lengthy than many had expected.
my office also consulted member states and the european parliament's delegation whose contribution was significant.
when establishing a supervisor several aspects need to be taken into consideration.
as a general principle we all agree that democratic control should occur at the level where decisions are taken.
level. the situation has a security humanitarian and regional impact on the
overall growth projections for next year are at best modest.
competitiveness and export performances are stronger in all countries.
the european council gave a mandate to continue this work and propose a specific and time bound roadmap to be presented at its december meeting so that it can move ahead on all the essential building blocks on which genuine emu should be based. our immediate priority was progress on financial integration. in june we agreed to break the vicious circle between banks and sovereigns.
area. this new idea requires further exploration and it was agreed that this is unrelated i emphasise unrelated' to the preparation of the next multiannual financial framework.
it is also urgent for measures supporting social inclusion promoting research and development developing the competitiveness of our industries and harnessing the potential of international trade.
the ssm is a first essential step towards a complete integrated framework for the financial sector.
term. i debriefed the european council on the september summit with china a very positive
this was an interim report seeking to clarify concepts and test the level of support for various ideas that have arisen with the aim of reaching conclusions in december.
the ecb should be able to carry out supervision directly in a differentiated manner meaning using national authorities in supervisory tasks as much as possible.
as agreed in june direct recapitalisation by the european stability mechanism will be possible once an effective ssm has been established.
autumn. two thousand and thirteen second we addressed crisis areas in the world syria iran and
of. two thousand and thirteen between now and december we will work on further progress to reinforce our economic and monetary
in the meanwhile we will discuss in november the multiannual financial framework at the european council.
other steps also need to be taken quickly starting with harmonising national resolution and deposit guarantee schemes following which the commission will propose a single resolution mechanism.
one. as you know this key partner is undergoing a once in a decade' leadership change.
first there must be a clear separation between the monetary responsibilities of the ecb and its supervisory functions.
summit. it is good for europe that we will have a single supervisory mechanism up and running in the course
although it represents only one of european gdp it can as an investment budget have a huge impact on growth.
we asked the eurogroup to draw up the exact operational criteria.
mali. this was indeed the first time that we had discussed developments in mali at european council
i am painfully aware of the toll this is taking on our societies.
we cannot afford to risk losing momentum.
it will be crucial for the new emu to be fully legitimate and accountable.
sahel. it could also become a threat to our own societies and to our own security.
we are still suffering from a lack of growth twenty five million people are unemployed in the union many of whom are young people.
public deficits are now lower in most countries.
it highlighted points of convergence and outlined areas that would require further work.
jobs. another is the possibility of an appropriate fiscal capacity for the euro
reining in budgetary deficits and restoring competitiveness would have been necessary even without the crisis in the eurozone.
the eurozone heads of state and government issued a statement welcoming the determination of the greek government to deliver on its commitments and also commending the remarkable efforts of the greek people.
two thousand and thirteen once this is agreed the ssm could become effectively operational during.
it is also important to build this deeper economic and monetary union on the eu's institutional and legal frameworks and to make sure that it remains open and transparent towards member states outside the eurozone. as in all our regular european councils i wanted to devote some time to strategic discussions
the upcoming common bank supervisor is a major breakthrough and we launched two weeks ago the european stability mechanism so that our firewall' now amounts to eur seven hundred billion.
the urgent element now is setting up a single supervisory mechanism to prevent banking risks and cross border contagion from emerging.
i received a mandate together with my colleagues to explore them further between now and december. one of these is that member states could enter into individual arrangements of a contractual nature with the eu institutions on the reforms they commit to
yet to secure the eurozone's long term stability we also need to be able to better deal with economic shocks and spur economic convergence. here some new avenues in my report attracted attention.
we focused on two main issues.
we decided to accelerate our own planning for a possible european military crisis management operation and support for the international military force in accordance with the recent un security council resolution.
this is particularly urgent for the implementation of the eur one hundred and twenty billion package we agreed in june for progress on the single market issues and on our eu two thousand and twenty goals.
finally the mechanism should be inclusive and transparent all member states are free and invited to join. this openness should be reflected in the governance structure with appropriate rights and obligations for all.
levels. china presented a package of proposals for future cooperation between the eu and
on this we can now witness the first results of our cumulative actions.
on both these fronts we have already done a lot.
we will come back to this issue to prepare the next summit which should take place in china in
i underlined that we need to be active in encouraging this process.
on the economic issues namely the implementation of the compact on growth and jobs approved last june and the discussion on the interim report on deepening economic and monetary union we. also spent time on some foreign policy questions and touched on a matter
it is urgent to fill that vacancy.
are in no way in dispute.
the union's commitment to promoting the equality of women and men is an objective laid down in the treaty.
daily bombardments shelling by the syrian air force and a whole city in ruins.
we all know what is needed in syria.
because you know that it is the only way that interest rates can go down in the european union.
nine months to wait for what?
gender equality is a democratic and fundamental issue.
mr president with the bottom up approach step by step during a period of four years the jigsaw puzzle for fencing the monetary union with an economic budgetary fiscal and now banking union is gradually being completed.
that is why this new mechanism should apply retroactively covering banks that are now in this difficult situation.
it looks to me like banking union lite' getting the taste without the commitment.
but like monetary union the lite' version will tie member states together with de facto mutualisation in the event of systemic failures.
is it a question of pushing through a good news story before the citizens get to understand it or before parliament finds a better way leaving the substance to never never?
we are working to this mad timetable but i see this as legislate in haste and repent at leisure' when a few months more could actually deliver the real deal.
for all the gung ho about banking union i see no sign of it in crd iv which is still an exemption fest.
is it the intention for the ecb to stop all that?
finally on women in the ecb we need more than talk that falls short of promises.
i wonder what mr van rompuy will do to persuade member states to lift the remaining barriers to trade in order to make the single market work as the council wishes.
what will he do to encourage member states to open their markets in services in order to achieve the full potential of the single market?
much trade is external and we welcome the council's conclusions on japan canada and singapore.
but do not forget india and please do not overlook the usa. finally citizens will welcome the commitment to the connecting europe facility.
but if the council wills the ends it must also will the means to pay for them.
two thousand and seventeen we should make it clear that beijing's reneging on hong kong's autonomy will only aggravate the lack of trust felt by china's neighbours and risk to stoke further tensions in a fragile region that is plagued by territorial disputes.
we should also firmly condemn remarks by hong kong leader leung who said on monday that fully democratic elections would lead to populist policies as poorer residents would have a dominant voice in politics.
i do however welcome the shift in approach of the hong kong leadership which has now at least started to engage with the protesters.
mr president it is with disappointment that we learnt that there was no major breakthrough in talks between student leaders and senior officials yesterday in hong kong.
we need to urge him to address the staggering inequality that plagues hong kong society because it is simply impossible for genuine democracy to take root where you have.
i do believe also that it is in the interests of the government of china and hong kong to embark on a transition to universal suffrage which allows the citizens of hong kong a genuine choice in who will govern them in.
as a partner the eu now needs to encourage beijing to continue down the road to dialogue and adopt a clear realistic timetable for democratic reforms.
this settlement allowed for hong kong to have a large degree of autonomy for fifty years as provided for by the sino british joint declaration of one thousand nine hundred and eighty four and the so called basic law. while these negotiations did not initially secure the right of universal suffrage there is a reference to an ultimate aim of universal suffrage within the basic law.
i strongly believe that the european union should now be standing firm in support of hong kong on this issue provided the protests are being held in a peaceful manner and within the law.
one thousand nine hundred and ninety seven we in europe must encourage authoritarian china to understand that allowing hong kong to flourish democratically as it wishes is an opportunity for the prc to express itself in confidence and not a chance to repress by parading its insecurities as sadly we saw a couple of decades ago in tiananmen square.
it was felt that these principles could challenge the communist one party state of china so the one country two systems' mantra was established.
over the past two decades we have seen a growing desire in hong kong to achieve that creditable aim and we are now seeing a demand in particular for two thousand and seventeen to be the year when that change finally comes about.