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Stability and Growth Pact.

Dáil Éireann Debate, Tuesday - 17 February 2004

Tuesday, 17 February 2004

Ceisteanna (89, 90, 91)

Simon Coveney

Ceist:

174 Mr. Coveney asked the Minister for Finance his policy in relation to the enforcement of the rules of the Stability and Growth Pact; and if he will make a statement on the matter. [4718/04]

Amharc ar fhreagra

Freagraí scríofa

Ireland supports the Stability and Growth Pact which provides the framework for sound public finances in the EU. I believe that the rules of the pact should be enforced firmly and faithfully, not just because of the legal requirements, but because the provisions make good sense in themselves. During Ireland's Presidency of the Council of Ministers, our priority is the continued implementation of the pact.

Liz McManus

Ceist:

175 Ms McManus asked the Minister for Finance if he has plans during the Irish Presidency to seek changes to the Stability and Growth Pact, to enable Europe to achieve the ambitious growth objectives set out in the Lisbon process; and if he will make a statement on the matter. [4756/04]

Amharc ar fhreagra

John Bruton

Ceist:

178 Mr. J. Bruton asked the Minister for Finance his views on whether and on the way in which the Stability and Growth Pact and the subsequent EU regulations to give it legal effect, ought to be reformed. [4397/04]

Amharc ar fhreagra

I propose taking Questions Nos. 175 and 178 together.

Ireland supports the Stability and Growth Pact. During Ireland's Presidency of the Economic and Financial Affairs Council our priority is the continued implementation of the pact.

In principle, I am in favour of introducing more flexibility into certain aspects of the pact. I have made this clear in the past, when I supported the Commission's proposals for some limited reforms in November 2002. However, the general view among my colleagues in ECOFIN is that there should be a period of reflection so that we can consider in a thoughtful and deliberate way how the EU economic governance system operates. We need to ensure that any proposed changes to the Stability and Growth Pact are developed on the basis of a consensus, so that any reforms can command the broad level of support that is required.

The European Commission has indicated that it will shortly bring forward its own initiative on improving economic governance in the EU, including proposals for improving the workings of the Stability and Growth Pact. I anticipate that this initiative will contribute to the ongoing deliberations on this matter.

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