One of the biggest challenges facing the European Union (EU) is to have a policy the great de of ec

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One of the biggest challenges facing the European Union (EU) is to have a policy the great de of economic governance suitable and intended to prevent the great de crises such as those seen affecting Greece, Ireland and Portugal. Among others, should be addressed to the imbalances between the member the great de countries of the Eurozone, but if this policy is not flexible with countries in economic and financial difficulties, then this exercise is was futile because they do not work.
The acute need to review the European economic governance became clear crystal since the outbreak of the Greek crisis almost a year ago and when it turned out that 26 of the 27 member countries of the EU had violated the rules of the Pact for Growth and Stability Pact (SGP) in respect of debts and deficits.
Until five years ago is likely that few have ever dreamed that the SGP would require radical reform actually needs. The financial crises, economic and national debts along with market speculation led to several countries near bankruptcy and several other major difficulties immensely. Situation was fully supported by poor economic governance. The scrutiny for countries to join the Eurozone as well as the discipline to members Area not to exceed the great de the limits set, were relaxed to the end.
The Committee on Economic and Monetary Affairs (ECON) the great de of the European Parliament appointed a group, of which I am a member, which for the past six months has worked tirelessly to reshaping the rules of economic governance of the EU . Changes reflected the great de in preventive measures, sanctioning of incentives and correction methods.
All agree that the SGP must have teeth for biting. the great de Must be given health. However unfortunate that there are conservative and liberal the great de politicians who only intend harsh sanction. Only believe that a country can be put back on track with austerity measures only. I qabbilt this policy with Muslim Sharia law. True to work, but cruel.
Economic context goes far further. The attitude displayed by right-wing conservative and liberal, economic pact with Franco the great de / German, could lead to a widening of the economic differences exist between member countries in the Euro Zone. In the context of this policy the great de is taking the form of economic imperialism in Europe. My group, the Alliance of Socialists and Democrats, do not agree at all with this dangerous political evolution is happening and show that it disagrees with. No wonder that both Maltese and European unions are worried fully.
The highlight of disagreement that is proposed on the tool to be able to operate a country caught in recession. We know what the results of economic downturns. Where possible we had countries that have used stimulus measures to counter, counteract, the impact the great de of the recession and jobs are saved.
In most cases exercise was successful and had saved millions of jobs. Not only that, but left a sufficiently strong basis from which could start a return to economic growth, while decreasing the budget deficits and reduce debt compared to the Gross Domestic Product.
We even came up from the recession that began conservative suggest the implementation of austerity measures the great de to reduce debts in Europe, the only option is to have the government will cut as deep. Both will reduce the cost.
I believe that sustainable economic