- Prima della votazione:

  Olli Rehn, Vice-President of the Commission. − Madam President, the importance of this moment and of this vote for Europe’s economic future can hardly be overstated. Together with the six-pack, these two regulations bring us several steps towards a genuine economic and monetary union (EMU).

I want to take this opportunity to thank all the rapporteurs, shadow rapporteurs, other MEPs, friends and colleagues who have tirelessly worked with the Commission and with the Council Presidencies to make this possible, to make this happen. I would also like to thank you all for the many amendments that you have introduced, often through very resolute insistence – sometimes, I have to say, bordering on stubbornness – that have improved and strengthened in the end the proposals in the course of the legislative process.

I dare to state that if the six-pack and the two-pack had been there at the introduction of the euro, we would never have suffered from a crisis of such magnitude. In any event, we would have got over the crisis much more quickly and with less social and financial costs.

With the vote today, I trust we will demonstrate the benefits and the functioning of the Community method.

When looking in retrospect at the EU’s crisis response, and thinking of today’s vote and of the Commission’s declaration on a redemption fund and eurobills, I can only wish that the Council had already been persuaded and supportive of the Community method in spring 2010, three years ago. I am referring to the critical Ecofin meeting on 9-10 May 2010, when the Commission – on Europe Day, in one of our crisis meetings – made a proposal to create a single European Financial Stability Mechanism, based first on guarantees by the EU budget up to EUR 60 billion, and then on joint and several guarantees beyond that. That would have presented the kind of big bazooka that has helped to tame the systemic crisis only since last year, with the ECB’s LTRO interventions and OMT decisions. Instead, we got the far clumsier EFSF, which was only last year turned into a permanent and well capitalised institution, the ESM.

I dare to claim that our response to the crisis would have delivered better and faster results for our citizens, if the Commission’s original proposals had in spring 2010 found acceptance among the Member States. But the time was not yet ripe then for decisions of such magnitude.

(Heckling)

To make clear the Commission’s intentions as regards future steps, I would like to declare the following on behalf of the Commission. I ask for your patience and you will have to forgive me if I am exceptionally long, by my standards, but this is all a rather comprehensive and fragile solution.

Once the legislation proposed by the Commission on the two-pack is adopted, the Commission intends to take steps in the short-term towards a deep and genuine EMU, as outlined in the blueprint. Short-term steps, from 6 to 12 months, will include:

In its Blueprint for a Deep and Genuine EMU, the Commission considered that, in the medium-term, a redemption fund and eurobills could be possible elements of a deep and genuine EMU under certain rigorous conditions. The guiding principle would be that any steps to further mutualisation of risk must go hand in hand with greater fiscal discipline and integration. The required deeper integration of financial regulation, fiscal and economic policy and corresponding instruments must be accompanied by commensurate political integration, ensuring democratic legitimacy and accountability,

The Commission will establish an Expert Group to deepen the analysis of the possible merits, risks, requirements and obstacles of partial substitution of national issuance of debt through joint issuance in the form of a redemption fund and eurobills. The Group will be tasked with thoroughly assessing the possible features in terms of legal provisions, financial architecture and the necessary complementary economic and budgetary framework. Democratic accountability will be a central issue to be considered,

(Heckling)

The Group will take into account the ongoing reform of the European economic and budgetary governance and assess the added value for such instruments in this context. The Group will pay particular attention to recent and on-going reforms, such as the implementation of the two-pack, the ESM and other relevant instruments,

In its analysis the Group will pay particular attention to the sustainability of public finances, to the avoidance of moral hazard, as well as to other central issues, such as financial stability, financial integration and monetary policy transmission,

The members of the Group will be experts in law and economics, public finances, financial markets and sovereign debt management. The Group will be invited to present its final report to the Commission no later than March 2014. The Commission will assess the report and, if appropriate, make proposals before the end of its mandate.

An exploration of further ways, within the preventive arm of the Stability and Growth Pact, to accommodate under certain conditions, non-recurrent, public investment programmes with a proven impact on the sustainability of public finances made by the Member States in the assessment of their stability and convergence programmes will be done in spring-summer 2013, in the context of the publication of the Communication on the calendar of convergence towards the medium-term objective;

After the decision on the next Multiannual Financial Framework for the EU and before the end of 2013, the Commission will put forward the following proposals to complement the existing framework for economic governance: measures to ensure greater ex-ante coordination of major economic reforms and the creation of a ‘convergence and competitiveness instrument’ to provide financial support for the timely implementation of structural reforms that enhance sustainable growth.

(Heckling)

I do not decide on the procedure of this Parliament.

  Presidente. − Il regolamento prevede l'intervento del Commissario, per cui lasciatelo concludere.

  Olli Rehn, Vice-President of the Commission. − Madam President, the new system, fully in line with the Community method, will build on existing EU surveillance procedures. It would combine deeper integration of economic policy with financial support, thereby observing the principle that steps towards greater responsibility and economic discipline should be combined with greater solidarity. It would, in particular, aim at enhancing the capacity of a Member State to absorb asymmetric shocks. This instrument would serve as the initial phase in moves towards the establishment of stronger fiscal capacity.

Furthermore, the Commission commits to following up, in a speedy and comprehensive manner, on its action plan to strengthen the fight against tax fraud and tax evasion, in particular with a view to the revision of the directives identified in the action plan and the measures and proposals announced by the Commission in its 2012 package in the field of employment and social policy.

This is the Commission’s overall commitment. I trust that this declaration has provided sufficient clarity about the intentions of the Commission, and I hope that you can vote in favour of the ‘two-pack’ just in time before this week’s European Council – which will be very important for rebuilding economic confidence in Europe. This would be a significant step forward in terms of our shared ambition to create a genuine European monetary union for the benefit of all our citizens.

Thank you for your kind attention, your support and your confidence.

(Loud applause)

- Dopo la votazione:

  Jörg Leichtfried (S&D). - Frau Präsidentin! Ich möchte dezidiert nicht Ihre Sitzungsführung kritisieren, sondern ich habe mir nur Sorgen gemacht, ob manche Herren hier den nervlichen Belastungen dieser Arbeit wirklich standhalten, und würde Sie bitten, aufzupassen, dass Ihnen da rechts hinten oben während einer Sitzung nichts passiert.

(Beifall)