Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-12-15-Speech-2-304"
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"en.20091215.18.2-304"2
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"Mr President, first I would like to congratulate Mr Almunia sincerely for his very effective work up to this point. For all the Member States of the European Union, there are many common problems and, at the same time, each country has its own economic policy and its own specific problems, and we must definitely all be self-critical here. The argument that only the new Member States of the European Union have been especially severely affected by the crisis is not true. Look at the countries where the banks have needed economic support – they are mainly the old Member States, not the new ones. Similarly, fiscal problems are bigger in the euro area than outside it.
At the same time, it is clear that banks operating across borders did not create an additional risk. The situation was exactly the opposite. The banks which operated in various countries were the most secure, and they were able to stabilise the situation in many recipient partner states. The banks which had problems are the banks which simply made bad commercial decisions, as was the case, for example, with the Royal Bank of Scotland."@en1
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