Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-22-Speech-1-058"
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"en.20080922.18.1-058"2
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"Mr President, in recent weeks we have been watching developments in the US financial sector with particular interest and concern.
The US Government’s decision to bail out the largest insurance company with a loan of USD 85 billion, the nationalisation of two of the leading mortgage groups, and the bankruptcy of the fourth largest investment bank have created a climate of panic in the United States and considerable anxiety among European citizens.
This is because in a globalised economic environment, it is very likely that the crisis will reach Europe – if it has not already done so – and will hit the banking system and the incomes of European citizens.
The debate to be held on Wednesday in the European Parliament, in the presence of the Council and the Commission, has got to give concrete answers to the following questions:
how well-prepared is the European economy to withstand the likely repercussions of the crisis that has begun?
what is the plan of action and what specific measures have been taken to safeguard the financial situation of European citizens?
lastly, what policy does the European Central Bank intend to follow in order to support European financial institutions?"@en1
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