Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-25-Speech-3-017"
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"en.20090325.2.3-017"2
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"Mr President, last week it was stated in the EU Observer that Jacques Delors had a pessimistic view of the future of the euro zone. So, here we have one of the champions of the euro expressing his concern for the EU and the euro in the run-up to the recent summit. He said, amongst other things, that he was concerned about the lack of willingness to clean up the financial sector and to introduce new rules to regulate it. I have not previously had reason to agree with Mr Delors, but in this case I must say that, unfortunately, he is right to be concerned. The conclusions of the summit in this regard are very vague. Throughout the crisis I have repeatedly questioned the Commission about its desire to regulate and control the financial sector. It has no desire to do so. It continually refers to the right of the internal market to govern what happens.
Mr Delors also said something else that, for a eurosceptic such as myself, almost gives me a sense of déjà vu in relation to arguments that I put forward on a previous occasion. He said that the economies of Europe are too different for the euro. Bingo, Mr Delors! That is precisely what they are. The single currency is part of the problem, not part of the solution. Europe needs a strong common regulation of the financial sector, but a large degree of flexibility when it comes to what economic policy will best tackle the crisis in the individual countries."@en1
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