Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-22-Speech-3-184"
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"en.20081022.17.3-184"2
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".
The European Council on 15 and 16 October was notable for its response to the financial crisis. Although other issues deserve attention and could be discussed, it is the financial crisis on which our attention is necessarily focused. Faced with the emergence of a financial crisis in which the lack of credit, in the truest etymological sense of the word, resulted in new problems and new threats day after day, the European response was effective in restoring the necessary confidence to the markets.
Regardless of what you might think about the origins of the crisis and the best possible responses, the facts confirm this interpretation. In this sense, the reaction of the European institutions should be welcomed. In analysing the European response, there is one fact which stands out. The decisive meetings to re-establish market confidence are not provided for in the current Treaties or in the Treaty of Lisbon. This proves that, as the union of States that it now is and hopefully will continue to be in the future, Europe needs institutional flexibility and, above all, strong and determined political leadership. That was what we had and that fact has clearly done more for bringing Europeans closer to the EU than any public relations strategy or institutional debate."@en1
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