Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-24-Speech-3-061"

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"en.20100324.12.3-061"2
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"Madam President, the European summit on 11 February, which was to send a message of support to Greece so that the markets would calm down, has basically been annulled due to the dissonance and uncertainty prevailing within the European Union. The European Council, which starts work tomorrow, cannot afford the luxury of maintaining the current climate of uncertainty and dissonance. Everyone now acknowledges that the Greek Government has taken very harsh measures, most of which have already started to be applied at the expense of and with sacrifices by the Greek people. However, at the same time, it continues to borrow at exceptionally high interest rates, the most recent example being on 5 March, because there are speculators on the markets making a fortune by betting on the odds of a country going bankrupt and ultimately creating the conditions and preconditions for that to happen. Today, the debate revolves around Greece; tomorrow it will probably concern another Member State. Will the European Council stop it by creating an effective European preventive mechanism which will safeguard the national economies and the stability of the euro area? The President of the European Commission spoke about responsibility and solidarity. He was right. Both are needed when you belong to a family such as a euro area. I do not think that anyone can doubt that Greece has fully assumed its responsibilities. However, it cannot face the fury of the market alone at this difficult stage. Eighteen months ago, the markets were threatening to bring down the global economy. Surely Greece will be threatened today. That is where the concept of solidarity comes in, a concept which should be obvious and which should go hand in glove with membership of the euro."@en1
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