Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-035"
Predicate | Value (sorted: default) |
---|---|
rdf:type | |
dcterms:Date | |
dcterms:Is Part Of | |
dcterms:Language | |
lpv:document identification number |
"en.20100325.3.4-035"2
|
lpv:hasSubsequent | |
lpv:speaker | |
lpv:spokenAs | |
lpv:translated text |
"Mr President, allow me to start by congratulating the two rapporteurs on the excellent work they have done at a particularly difficult juncture.
The work of one of the most crucial summits is due to start shortly and there is still much talk raging around the so-called Greek issue and around if and to what extent we shall adopt a European mechanism that will operate, in times of need, as an economy protection indicator needed for the stability of the euro area as a whole.
Without doubt, the basic responsibility for this situation lies with Greece and it has fully assumed it. However, there are other – collective – responsibilities. The common currency has provided a great deal, but it also has serious weaknesses. In 11 years of EMU, we did not want to see and to acknowledge that the competitiveness divide and the significant inequalities and imbalances between the economies in the euro area are not compatible with either the viability or the stability of the euro area.
The speculative attacks which, so far, have been directed mainly at Greece – but which also resulted in Portugal’s credit rating being downgraded just the other day and which have already been directed at other countries, such as Italy and Spain, and no one knows what the consequences will be – have made that much clear.
If, therefore, we want to show that we can deal with the situation, we should immediately move towards a new, enhanced model of economic cooperation and economic governance which, Mr Langen, respects the rules of the Stability and Growth Pact, but which, at the same time, will be able to go beyond financial coordination in the narrow sense to economic coordination with additional criteria attached and attain the objectives of the EU strategy for employment and sustainable development."@en1
|
lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples