Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-016"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-05-19"^^xsd:date2
dcterms:Is Part Of	lp_eu:Outcome of the summit of 7 May 2010 and the ECOFIN meeting - What is the political relevance of the EU 2020 strategy in the context of the current financial and economic crisis? - Consequences of the financial and economic crisis on the EU 2020 strategy and its governance - What is the relevance of the EU 2020 strategy in the framework of the current financial and economic crisis? (debate)2
dcterms:Language	"el"^^xsd:language2
lpv:document identification number	"en.20100519.3.3-016"2
lpv:hasSubsequent	lp_eu:2010-05-19-Speech-3-0172
lpv:speaker	lp:Niki Tzavela2
lpv:spokenAs	substitute; Delegation for relations with Israel (2009-09-16--2012-03-13)3 vice-chair; Delegation for relations with the United States (2009-09-16--2014-06-30)3 unknown; Popular Orthodox Rally - G. Karatzaferis (2009-07-14--2014-02-24)3 member; ITRE (2009-07-16--2012-01-18)3 substitute; TRAN (2009-07-16--2010-06-22)3 vice-chair_member_of_the_bureau; EFD (2010-02-16--2012-01-26)3 member; Delegation to the EU-Turkey Joint Parliamentary Committee (2009-09-16--2012-03-13)3 substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2012-01-30)3 substitute; Delegation for relations with the Mashreq countries (2009-09-16--2012-03-12)3
lpv:translated text	"Commissioner, I should like to take this opportunity to thank you personally for your hard and effective work in connection with the economic crisis in Greece. I should also like to thank all the parties in Parliament for the support and solidarity they have shown Greece. I have three proposals and I should like, most emphatically, to ask for their support. As far as the adoption of a permanent instrument for economic governance is concerned, the Bruegel Institute, which is a think tank in the field of economics, proposes the following: the European Central Bank should guarantee European bonds up to 60% of the GDP of each country; these are so-called ‘blue bonds’. Where bonds exceed the 60% limit, the surplus should be borrowed on market terms; these are so-called ‘red bonds’. This is a proposal for a permanent instrument for economic governance; we do not need to set up new mechanisms and so forth and it can be adopted very quickly. I have two proposals for Greece: the International Monetary Fund could extend the repayment period for the loan to Greece from three to five years. If the same extension were adopted by our European lenders, it would be much easier and more realistic for Greece to repay its debt and this would be a good message for the markets. The second proposal is this: the amount in aid to Greece could be used to repay our bonds. It would be rational management of the issue if Europe were to release resources now, to be given to Greece in the future and used by it to develop the Greek economy. At the moment, the Greek Government is on the defensive; it is trying to scrape money together so that it can reduce its debt. However, we cannot try and stimulate growth at the same time. That is why, Commissioner, I think it would be a good idea if a parallel effort to stimulate growth were supported. To close, I should like to say that we hope that the Greek crisis will be the only price the European Union has to pay for the hasty establishment of the economic governance which we should have established ten years ago. Let us hope that the Greek crisis is the only price we have to pay."@en1
lpv:unclassifiedMetadata	"ad hoc"1
lpv:videoURI	<go to Events_and_structure europarl>2

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