Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-09-Speech-2-233"
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"en.20100209.13.2-233"2
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"The situation which has arisen in some countries in the euro area requires serious consideration. Seeking its causes in the economic crisis is only partially justified. Many of the causes lie elsewhere. Firstly, the great differences in the level of economic development in different euro area countries was ignored. Secondly, the discipline of the Stability and Growth Pact was not maintained. Budgetary discipline was not kept in a responsible way, which led to a large growth in the public finance deficit. Thirdly, banks and other financial institutions were not suitably monitored – this does not apply only to these countries. How can we fight this? In accordance with the solidarity principle, the repair programme prepared by individual countries must receive support from the European Union, which entitles the European Commission and the European Central Bank to monitor realisation of the programme. For it is also unacceptable that the costs of the crisis should be borne primarily by the poorest, an example of which was the protests by Greek farmers."@en1
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